Mon 23 September 2019 > Tue 24 September 2019

This conference at King’s College London will bring together standard setters to share experiences and good practices, enhance dialogue, guide scholarship, and shape future stewardship policy through evidence-based recommendations.

Tue 24 September 2019

The conference remembers our late colleague Professor Brigitte Haar who passed away much too early this spring. Brigitte was Professor of Private German, European, and International Business Law at the Goethe University Frankfurt and an ECGI Research Member.

Featured papers

The Private Use of Credit Ratings: Evidence from Investment Mandates

Ever since the global financial crisis in 2008, credit ratings have been subject to increased scrutiny. The main concern with ratings is related to the role overly optimistic ratings played in facilitating the sale of structured securities such as mortgage-backed securities (see, e.g., Benmelech...

Ramin Baghai
Bo Becker
Stefan Pitschner
10 July 2019

Opt-In Stewardship: Toward an Optimal Delegation of Mutual Fund Voting Authority

Corporate ownership around the world rests largely in the hands of institutional intermediaries.  Even in U.S., once a bastion of retail investors, individuals now routinely invest through mutual funds, especially index funds.   As a result, mutual funds own about one-third of the total U.S....

Sean Griffith
12 July 2019

Litigating Innovation: Evidence from Securities Class Action Lawsuits

Our paper provides novel evidence suggesting that a central pillar of the U.S. litigation and corporate governance system, securities class action lawsuits, acts as an implicit “tax” on valuable innovation. We propose a new perspective on this link between innovation and litigation, which we...

Oliver Spalt
Elisabeth Kempf
12 July 2019

Is The Stock Market Biased Against Diverse Top Management Teams?

Stock market investors are becoming increasingly vocal about the diversity of corporate leadership teams, following a global trend to engage with diversity issues at all levels of society.

The interest by practitioners in the diversity of corporate leadership teams accords well with a...

Alberto Manconi
A. Emanuele Rizzo
Oliver Spalt
30 July 2019

Working papers

Managerial Response to Shareholder Empowerment: Evidence from Majority Voting Legislation Changes

This paper studies how managers react to shareholder empowerment vis-à-vis governance provisions. We show that a staggered legislative change that increases noncompliance costs in the implementation of shareholder-initiated majority voting...Read more

Vicente Cuñat
Yiqing Lü
Hong Wu
08 August 2019

Adoption of CSR and Sustainability Reporting Standards: Economic Analysis and Review

This study provides an economic analysis of the determinants and consequences of corporate social responsibility (CSR) and sustainability reporting. To frame our analysis, we consider a widespread mandatory adoption of CSR reporting standards in...Read more

Luzi Hail
Christian Leuz
08 August 2019



Prof. Vicente Cuñat presents his paper on "Active Owners and Firm Policies" at the 2019 Global Corporate Governance Colloquia (GCGC) at Goethe University Frankfurt, Germany. Discussion of the paper is then presented by Prof. Oğuzhan Karakaş.

01 August 2019

Prof. Jennifer Hill presents her paper on "Corporate Culture and Liability" at the 2019 Global Corporate Governance Colloquia (GCGC) at Goethe University Frankfurt, Germany. Discussion of the paper is then presented by Prof. Edward Rock

01 August 2019

Prof. Enrichetta Ravina presents her paper on "Investor Ideology" at the 2019 Global Corporate Governance Colloquia (GCGC) at Goethe University Frankfurt, Germany. Discussion of the paper is then presented by Prof. Holger Spamann.

31 July 2019

Research Members

The research work that emanates from ECGI is undertaken by leading scholars around the globe. This important network of academics is at the very core of what ECGI does, drawing on the finest minds in academia from all over the world to tackle some of the most important issues that confront business and governments today.
Real name: 
Research Member
Peking University, School of Transnational Law
Research Member
Chris P. Dialynas Distinguished Service Professor Of Economics
The University of Chicago Booth School of Business

Patron Members

The ECGI Patron Members provide regular and long-term support for Academic Research through their contributions to the European Corporate Governance Research Foundation (ECGRF). Their philanthropic donations stimulate the production of research studies and other academic work of excellence in corporate governance.

Institutional Members

The Institutional Members of ECGI provide a vital connection between the academic world and the policy and practitioner aspects of corporate governance. These members recognise the importance of evidence-based research in developing their corporate governance policies and seek to continuously improve the standards of corporate governance.