Call For Papers: GCGC 2019

The fifth annual GCGC Conference will be hosted by Frankfurt University on 7 - 8 June 2019. The Conference Committee is inviting researchers to submit recent papers on corporate governance.  Deadline for submission is...
20 June 2018


Thu 25 October 2018

This ECGI Roundtable will be hosted by Hermes Investment Management on 25 October 2018. The Roundtable will focus on the nature of governance interventions by institutional shareholders. 

Wed 12 December 2018 > Thu 13 December 2018

This academic conference will focus on the theme of 'Differential Voting Shares'. Attendance is by invitation only.

Fri 07 June 2019 > Sat 08 June 2019

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

Featured papers

Trust and Shareholder Voting

Theory as well as empirical studies suggest that voting at annual general shareholder meetings (AGMs) creates value. Indeed, voting gives shareholders a final say on major company decisions, such as appointments to the board of directors and the approval of takeover offers. It also enables...

Simon Lesmeister
Peter Limbach
Marc Goergen
30 July 2018

Which Aspects of Corporate Governance Matter in Emerging Markets: Evidence from Brazil, India, Korea, and Turkey

There is evidence that some “corporate governance indices” predict higher firm values in emerging markets, but little evidence on which specific aspects of governance drive that overall relationship.  Two important challenges are noteworthy in finding such evidence. One is the need to control...

Bernard Black
Antonio Gledson de Carvalho
Vikramaditya Khanna
Woochan Kim
Burcin Yurtoglu
27 August 2018

The Sustainability Footprint of Institutional Investors

Institutional Investors are currently the dominant category of shareholders in stock markets and have attracted considerable attention by academics. Yet, there is relatively little evidence on the environmental and social characteristics of institutional investors’ portfolio holdings  ...

Rajna Gibson Brandon
Philipp Krüger
27 August 2018

Perils of Limiting the Coverage of Mandatory Pay Disclosure: The Korean Experience

Government regulation on disclosure differs considerably across countries. This gives rise to some interesting research questions. One line of research is investigating if certain types of disclosure regimes are more prone to disclosure evasion.

In this study we ask if limiting the...

Jinhyeok Ra
Woochan Kim
27 August 2018

Working papers

Non-Shareholder Voice in Bank Governance: Board Composition, Performance and Liability

Starting from the well-evidenced fact that banks with shareholder-focussed corporate governance fared worse in the financial crisis than those without, this paper considers various initiatives and proposals to re-orient board rules in relation to...Read more

Paul Davies
Klaus Hopt
11 September 2018

Who’s Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives

We derive a measure that captures the extent to which overlapping ownership structures shift managers’ incentives to internalize externalities. A key feature of the measure is that it allows for the possibility that not all investors are...Read more

Erik P. Gilje
Todd Gormley
Doron Levit
11 September 2018

Optimally Restrained Tunneling: The Puzzle of Controlling Shareholders’ “Generous” Exploitation in Bad-Law Jurisdictions

Although controlling shareholder agency problems have been well studied so far, many questions still remain unanswered. In particular, an important puzzle in “bad-law” jurisdictions is: why some controlling shareholders (“roving controllers”)...Read more

Sang Yop Kang
11 September 2018



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
Chairman, Centre for Endowment Asset Management; Research Director (Finance & Accounting), Judge Business School
Cambridge University
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Research Member
Hanna Chair in Entrepreneurship & Associate Professor of Finance
Purdue University - Krannert School of Management

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.