Events

Wed 12 December 2018 > Thu 13 December 2018

This academic conference will focus on the theme of 'Differential Voting Shares'. Attendance is by invitation only.

Fri 07 June 2019 > Sat 08 June 2019

The fifth annual GCGC conference will take place at Center for Financial Studies, Goethe University Frankfurt on 7 - 8 June 2019. The deadline for submissions is 14 September 2018. Attendance is by invitation only.

Featured papers

Long-Term Economic Consequences of Hedge Fund Activist Interventions

Over the past 20 years, hedge fund activism has become a powerful mechanism for influencing companies. Regulators, the business community, and the popular press debate whether activism enacts meaningful change or whether it is tactic for hedge funds to earn short-run profits. Several academic...

Author:
Ed deHaan
David Larcker
Charles McClure
19 October 2018

Technology and Corporate Governance: Blockchain, Crypto, and Artificial Intelligence

Much of our world is now built on the zeros and ones of computer code. “Code” forms the invisible architecture structuring many aspects of our everyday lives. Driving this “Digital Transformation” is an interconnected series of technological innovations that have re-shaped social, economic and...

Author:
Mark Fenwick
Erik Vermeulen
12 November 2018

Evaluating the Board of Directors: International Practice

It has become a familiar refrain post-Enron and post-2008 Financial Crisis that to be truly effective, the board of directors of a company needs to increase its role in the area of risk management and managerial oversight. But legal systems around the world increasingly recognize that boards...

Author:
Mark Fenwick
Erik Vermeulen
12 November 2018

Institutional Investors' Impact on the Terms and Outcome of Freeze-out Tender Offers

Freezeout tender offers are offers by the controlling shareholders to purchase all publically traded shares. These going-private offers are suspect. Given controlling shareholders’ superior inside information, such offers might sometimes involve attempts of controlling shareholders to...

Author:
Beni Lauterbach
Yevgeny Mugerman
24 September 2018

Working papers

Is it Worthwhile to Augment the Legal Protection of Public Debt Placed by Privately Held Companies?

We examine the effects of a law amendment in Israel in 2011 that imposes a set of minimum corporate governance standards on privately held firms that issue publicly traded bonds. Two main results emerge. First, consistent with US evidence, the...Read more

Keren Bar-Hava
Roi Katz
Beni Lauterbach
22 November 2018

Governance through Shame and Aspiration: Index Creation and Corporate Behavior

After decades of de-prioritizing shareholders' economic interests and low corporate profitability, Japan introduced the JPX-Nikkei400 in 2014. The index highlighted the country's "best-run" companies by annually selecting the 400 most pro table...Read more

Akash Chattopadhyay
Matthew D. Shaffer
Charles Wang
22 November 2018

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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.
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Professor of Corporate Finance
Erasmus University Rotterdam
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Gösta Olsson Professor of Finance
Stockholm School of Economics

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