Information asymmetry between shareholders and corporate managers can subvert contemporary calls for increased institutional investor oversight. In jurisdictions where controlling shareholders are common, information asymmetry can also arise between minority shareholders and controlling...

A high profile public debate is taking place over one of the oldest questions in corporate law, namely, “For whom is the corporation managed?” In addition to legal academics and lawyers, high profile business leaders and business school professors have entered the fray and politicians have...

Large business enterprises, from the railroad barons of nineteenth century America to Amazon and Google today, are often perceived as important for economic performance and, at the same time, as potential abusers of their political and economic power. In this study, we compare the experiences of...

Is coronavirus accelerating the future? Will the crisis provide a tipping point that encourages corporations to promote socially desirable values? Will there be a wider recognition that a sole focus on profits and investors hurts both companies and society? Or, will we simply return to...

Important capital market, regulatory and technological developments have created greater investor appetite and capacity for engagement with public companies. This development is highlighted by investors’ current efforts to engage with companies in various markets on material environmental,...

Although debt finance and restructuring rarely command headlines, they collectively comprise some of the most heated corporate battles in recent history. The field’s contemporary participants, including private equity sponsors, banks, and distressed debt investors have increasingly become...

In this paper, I analyse the main trade-offs between the economic value of the firm and its social value exploring how they are solved through corporate governance and regulation. To begin with, I show how firms generate social value while also increasing their long-term value under the...

This Article examines how corporate law treats legal entity boundaries in groups of companies. This is a critical question given that large corporations typically have hundreds of subsidiaries. Investigating the treatment of this question in key jurisdictions over time reveals an overlooked...

Financial supervisors as well as financial intermediaries increasingly rely on AI. However, little remains known about the scope and pervasiveness of this evolution. There is emerging evidence of financial supervisors relying on AI to monitor financial intermediaries. Using annual reports as a...

Public corporations are brandishing their political identities. They are increasingly taking stands and messaging on highly charged social issues: gun control, gender and race, immigration, abortion, reproductive rights, and free speech. Corporate scholars have paid scant attention to this...