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.
Using a sample of S&P 500 firms between 2013 and 2017, we study the impact of ESG rating disagreement on stock returns. Building on the heterogeneous beliefs literature, we conjecture that for disagreement about environmental ratings, a risk–...Read more
We argue that CEOs have different attitudes toward the firm’s stakeholders and that these differences in attitudes affect the firm’s decision making. We hypothesize that these differences stem from differences in political ideology: Liberal CEOs, as...Read more
This article argues that the two dominant concepts of theory of the firm and the bases of modern management education, business practice, and public policy towards the firm, namely shareholder primacy and agency theory, are at best incomplete and...Read more
