Working Paper

The Present and Future of Corporate Governance: Re-Examining the Role of the Board of Directors and Investor Relations in Listed Companies

In this paper, we first shed light on the factors that underlie the differences between the ?shareholder wealth maximization? and the ?long-term commitment? models of corporate governance. By introducing a third type of governance model, we show...Read more

Joseph McCahery
Erik Vermeulen
01 May 2013


Optimal Short-Termism

Corporate short-termism has often been criticized because it could harm long-term performance. That is, managers arguably take actions that

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Dirk Hackbarth
Alejandro Rivera
Tak-Yuen Wong
12 February 2018