Thursday 15 October 2020

Thursday 15 October 2020

14:30
- 15:45

ECGI General Assembly Meeting (members only)

15:45
- 16:00

Break

16:00
- 17:25

The 2020 Wallenberg Lecture (public event)- 'The Relative Effectiveness of Exit and Voice Strategies'

Speakers:
Discussant:
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The 2020 Wallenberg Lecture (public event)- 'The Relative Effectiveness of Exit and Voice Strategies'

Time:
16:00h
- 17:25h

About the Lecture

'The Relative Effectiveness of Exit and Voice Strategies'
 

In recent years, companies have come under increasing stakeholder pressure to pursue environmental and social goals. At the same time a growing academic literature has argued that the usual presumption that firms should maximize profit or market value is no longer valid in a world where, as result of political failures either at the national or international level, externalities are not well-controlled. In his talk, Prof. Hart considered the relative effectiveness of exit (divestment and boycott) and voice (engagement) strategies in promoting socially desirable outcomes in companies. He argued that in a competitive world exit is less effective than voice in pushing firms to act in a socially responsible manner. He also discussed what social and legal considerations might sometimes make exit preferable to voice.

The talk was based on the ECGI Working Paper 694/2020: Eleonora Broccardo, Oliver Hart, Luigi Zingales Exit vs. Voice (01 Sep 2020) Available at ECGI: https://ecgi.global/working-paper/exit-vs-voice

Speakers

Discussants

17:30
- 18:50

ECGI Working Paper Prize Sessions (public event):

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Aberdeen Standard Investments (Finance Prize): Picking Friends Before Picking (Proxy) Fights: How Mutual Fund Voting Shapes Proxy Contests

Time:
17:30h
- 18:10h

Please see link below to the ECGI finance working paper 601/2019.

Picking Friends Before Picking (Proxy) Fights: How Mutual Fund Voting Shapes Proxy Contests

Speakers

18:10
- 18:50

Cleary Gottlieb Hamilton & Steen (Law Prize): The Grip of Nationalism on Corporate Law

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Cleary Gottlieb Hamilton & Steen (Law Prize): The Grip of Nationalism on Corporate Law

Time:
18:10h
- 18:50h

Please see link below to the ECGI law working paper 437/2019.

The Grip of Nationalism on Corporate Law

Speakers

18:50
- 19:00

Closing Remarks