Event Report: Global Shareholder Stewardship Conference

The Global Shareholder Stewardship Conference, which was held at King’s College London on 23-24 September 2019, examined 19 different national stewardship codes/principles as well as the amended EU Shareholder Rights Directive (SRD II), the EFAMA stewardship code and the ICGN Global Stewardship...
3 February 2020


Fri 19 June 2020

[Riga] One of the priorities mentioned in the Entrepreneurship 2020 Action Plan of the European Commission is “easing business transfers”, for example, through reducing cross-border inheritance tax obstacles, improving information and advice services, and other initiatives. Likewise, stock exchanges are attempting to ease obstacles for SMEs, that are predominantly family-owned, to raise capital through public markets. The conference will examine these tendencies. 

Featured papers

Growing Up Under Mao and Deng: On the Ideological Determinants of Corporate Policies

Throughout history, economic activities have been fundamentally shaped by ideology. Scholars usually consider ideology as a set of ethical ideas, principles, or doctrines of a social movement, institution, or class that concerns a specific form of government (e.g., democracy or autocracy) and...

Hao Liang
Rong Wang
Haikun Zhu
30 November 2019

Deadlock on the Board

The board of directors is the highest decision-making authority in a corporation. But sometimes boards struggle to make decisions. In surveys, 67 percent of directors report the inability to decide about some issues in the boardroom. Moreover, 37 percent say they have encountered a boardroom...

Jason Donaldson
Nadya Malenko
Giorgia Piacentino
08 December 2019

How Much Should We Trust Empirical Estimates of State Corporate Law Effects?

A large empirical literature studies the effects of U.S. states’ corporate law statutes on corporate actions and performance at the firm level. Interest is in the laws for their own sake or as exogenous variation in determinants of firm behavior. For example, well over a hundred papers...

Holger Spamann
02 January 2020

Shareholder Illiquidity and Firm Behavior: Financial and Real Effects of the Personal Wealth Tax in Private Firms

The interaction between household finance and corporate finance may be particularly strong in private firms. First, private firms often face higher costs of external finance than public firms do, making the private firm unusually dependent on internal funds to finance growth. Second, private...

Janis Berzins
Øyvind Bøhren
Bogdan Stacescu
02 January 2020

Working papers

Do Market Prices Improve the Accuracy of Court Valuations in Chapter 11?

Past studies document large court valuation errors in Chapter 11 bankruptcy, which are often attributed to the lack of transparent market prices of the debtor’s securities. We document that the introduction of mandated public dissemination of...Read more

Cem Demiroglu
Julian Franks
Ryan Lewis
14 February 2020



The ECGI Annual Lecture Panel Discussion on “The Economics of Firm Culture”, moderated by Prof. Marco Becht (Solvay Brussels School), composed of Dr. Beatrice Engström-Bondy (Investor AB) and Prof. Paola Sapienza (Kellogg School of Management). 

13 December 2019

Research Members

The research work that emanates from ECGI is undertaken by leading scholars around the globe. This important network of academics is at the very core of what ECGI does, drawing on the finest minds in academia from all over the world to tackle some of the most important issues that confront business and governments today.
Real name: 
Research Member
Professor of Law and Director, Centre for Business Research
University of Cambridge
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Fellow, Research Member
Professor of Finance
University of Oxford
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Research Member
Peterjohn-Richards Professor of Finance
Fuqua School of Business

Patron Members

The ECGI Patron Members provide regular and long-term support for Academic Research through their contributions to the European Corporate Governance Research Foundation (ECGRF). Their philanthropic donations stimulate the production of research studies and other academic work of excellence in corporate governance.

Institutional Members

The Institutional Members of ECGI provide a vital connection between the academic world and the policy and practitioner aspects of corporate governance. These members recognise the importance of evidence-based research in developing their corporate governance policies and seek to continuously improve the standards of corporate governance.