A set of policy experiments regarding binding votes on compensation in Switzerland sheds new light on the argument that shareholders may prefer to have...
This paper uses managerial control rights data for over 5000 firms from 31 countries to examine the net costs and benefits of cash holdings. We find that...
This article is the first chapter of the second edition of The Anatomy of Corporate Law: A Comparative and Functional Approach, by Reinier Kraakman, John...
We examine U.S. dual and single class firms in 1980-2019 and document their valuation differences over their corporate life cycle. At the IPO, dual class...
Larger-than-life corporate leaders, who can move fast and disrupt entrenched players, are often perceived as having the vision, superior leadership,...
In this paper we aim to better understand the economic role of financial journalists. Although there is a growing body of empirical research...Read more
A half century ago, corporate legal theory pursued an institutional vision in which corporations and the law that creates them protect people from...Read more