Working Paper

Did Corporate Governance 'Fail' During the 2008 Stock Market Meltdown? The Case of the S&P 500

In 2008, share prices on U.S. stock markets fell further than they had during any one year since the 1930s. Does this mean corporate governance “failed”? This paper argues “no”, based on a study of a sample of companies at “ground zero” of the...Read more

Brian Cheffins
01 May 2009


Signaling Safety

In this paper we revisit a classic idea in finance and economics, namely the hypothesis that dividend changes convey information about firms’...Read more

Roni Michaely
Stefano Rossi
Michael Weber
13 March 2020