This essay views The Modern Corporation and Private Property from the perspective of its junior coauthor, Gardiner Means. Means generated the book’s...
The paper proposes a framework for judicial review of board decisions that have been augmented by an AI. It starts from the assumption that the law treats...
When firms compete in the managerial labor market, the choice of corporate governance by a firm affects, and is affected by, the choice of governance by...
This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from the beginning of the 20th century...
We derive a measure that captures the extent to which common ownership shifts managers’ incentives to internalize externalities. A key feature of the...
This article argues that the two dominant concepts of theory of the firm and the bases of modern management education, business practice, and public...
We document a novel strategic motive for family business groups to utilize their internal capital markets (ICMs) during financial crises. We find that...