Launching the ECGI Community

ECGI is launching an independent engagement and collaboration platform open to all those with an interest in corporate governance. This replaces the ECGI Yahoo list which was established in 2002. The ECGI Community is a forum for sharing announcements, events, articles and opinions.
29 March 2019

Events

Wed 05 June 2019

This conference will focus on the role of ESG (Environmental, Social and Governance) considerations in the management of public companies and the investment priorities of asset managers. Limited spaces are available for this event.

Fri 07 June 2019 > Sat 08 June 2019

The fifth annual GCGC conference will take place at the House of Finance, Goethe University Frankfurt on 7 - 8 June 2019. The deadline for submissions is 14 September 2018. Attendance is by invitation only.

Mon 10 June 2019

The Roundtable will focus on the reasons and implications of fewer companies going public. The steep decline in initial public offerings in the U.S. has raised concerns about reduced opportunities for general public to save for the future.

Featured papers

Does Diversification of Share Classes Increase Firm Value?

In the absence of agency conflict and market frictions, it is beneficial to allow greater freedom to firms in their choice of corporate financial policy. Unconstrained optimization is always better than constrained optimization. However, if management is standing ready to pursue its own self-...

Author:
Sojung Kim
Sunwoo Hwang
Woochan Kim
01 March 2019

Farewell to Fairness: Towards Retiring Delaware's Entire Fairness Review

This Essay entertains the idea that Delaware’s corporate law is set on a trajectory that would eventually lead to reforming its doctrine of entire fairness as we now know it by retiring its substantive fairness review prong and insisting on fully-informed consent as the only way for...

Author:
Amir Licht
16 February 2019
M&A

The Intangibles Song in Takeover Announcements: Good Tempo, Hollow Tune

Takeovers are major corporate actions; they significantly impact the future of the acquiring company. A successful acquisition requires a plausible valuation of the deal -- but such valuations are arguably particularly challenging in the presence of intangible assets, an increasingly important...

Author:
Zoran M. Filipovic
Alexander Wagner
13 March 2019
CEO

Firms’ Rationales for CEO Duality: Evidence from a Mandatory Disclosure Regulation

CEO duality – the practice of combining the roles of the CEO and chairman of the board – has been the topic of one of the longest debates in corporate governance. While a majority of firms in the S&P 500 index combine the two roles, there is frequent pressure on firms from investors and...

Author:
Marc Goergen
Peter Limbach
Meik Scholz-Daneshgari
01 March 2019

Working papers

Who Falls Prey to the Wolf of Wall Street? Investor Participation in Market Manipulation

Manipulative communications touting stocks are common in capital markets around the world. Although the price distortions created by so-called “pump-and-dump” schemes are well known, little is known about the investors in these frauds. By...Read more

Andreas Hackethal
Christian Leuz
Steffen Meyer
Maximilian Muhn
Eugene Soltes
15 April 2019

Accounting for Financial Stability: Lessons from the Financial Crisis and Future Challenges

This paper investigates what we can learn from the financial crisis about the link between accounting and financial stability. The picture that emerges ten years after the crisis is substantially different from the picture that dominated the...Read more

Jannis Bischof
Christian Laux
Christian Leuz
15 April 2019

News

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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.
Research Member
Associate Professor of Finance
Southern Methodist University - Cox School of Business
Real name: 
Research Member
Assistant Professor
IESE Business School
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Research Member
Associate Professor of Finance
Cass Business School
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Fellow, Research Member
C.V. Starr Professor of Economics
Leonard N. Stern School of Business, New York University

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.