Working papers

Working papers

The ECGI Working Paper series is a repository of academic research papers produced by ECGI Research members consisting of highly qualified and renowned academics from across the globe. The series is managed by a team of ECGI Editors and the papers focus on Corporate Governance topics in both Law and Finance fields.

New Working Papers

The Politics of CEOs

CEOs of public companies have influence over the political spending of their firms, which has been attracting significant attention since the Supreme Court decision in Citizens United. Furthermore, the policy views expressed by CEOs receive...Read more

Alma Cohen
Moshe Hazan
Roberto Tallarita
David Weiss
14 May 2019

Private Benefits and Corporate Investment and Financing Decisions: The Case of Corporate Philanthropy

We find that corporate giving as a private benefit of control distorts investment and financing decisions, results supporting Jensen’s (1986) free cash flow theory. These investment distortions reduce shareholder wealth, especially in cash-...Read more

Ronald Masulis
05 April 2019
E.g., 2019-06-25
E.g., 2019-06-25