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Glaeser, Edward L. - 2021

Many factors including incentive-pay, powerful shareholders, and takeover threats push for-profits managers towards maximizing shareholder value. One of the most striking factors about non-profit firms is that they have no comparable governance institutions, and the only check on managers are...

Persistent link: https://www.econbiz.de/10013227489

Private Politics and Public Regulation

Egorov, Georgy - 2013

We develop a dynamic game to explore the interaction between regulation and private policies, such as self-regulation … by firms and activism. Without a public regulator, the possibility of self-regulation is bad for the firm, but good for … activists who are willing to maintain a costly boycott to raise the likelihood of self-regulation. Results are reversed when the …

Persistent link: https://www.econbiz.de/10013071787

Ethical Foundations of Financial Regulation

Kane, Edward J. - 2008

Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of … discretion and choose actions for the common good. Agency-cost theories portray regulation as a way to raise the quality of …

Persistent link: https://www.econbiz.de/10012774887

Financial Frictions, Investment and Tobin's Q

Lorenzoni, Guido - 2007

We develop a model of investment with financial constraints and use it to investigate the relation between investment and Tobin's q. A firm is financed partly by insiders, who control its assets, and partly by outside investors. When their wealth is scarce, insiders earn a rate of return higher...

Persistent link: https://www.econbiz.de/10012776954

The Great Pyramids of America : A Revised History of Us Business Groups, Corporate Ownership and Regulation, 1930-1950

Kandel, Eugene - 2013

Most listed firms are freestanding in the U.S, while listed firms in other countries often belong to business groups: lasting structures in which listed firms control other listed firms. Hand-collected historical data illuminate how the present ownership structure of the United States arose: (1)...

Persistent link: https://www.econbiz.de/10013071909

Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation

Beltratti, Andrea - 2010

-level governance, country-level governance, country-level regulation, and bank balance sheet and profitability characteristics before …

Persistent link: https://www.econbiz.de/10013151816

Revisiting American Exceptionalism : Democracy and the Regulation of Corporate Governance in Nineteenth-Century Pennsylvania

Lamoreaux, Naomi R. - 2014

The legal rules governing businesses' organizational choices have varied across nations along two main dimensions: the number of different forms that businesses can adopt; and the extent to which businesses have the contractual freedom to modify the available forms to suit their needs. Until the...

Persistent link: https://www.econbiz.de/10013052116

The State of U.S. Corporate Governance : What's Right and What's Wrong?

Holmström, Bengt R. - 2009

The U.S. corporate governance system has recently been heavily criticized, largely as a result of failures at Enron, WorldCom, Tyco and some other prominent companies. Those failures and criticisms, in turn, have served as catalysts for legislative change (Sarbanes-Oxley Act of 2002) and...

Persistent link: https://www.econbiz.de/10012767754

Corporate Governance and the Plight of Minority Shareholders in the United States Before the Great Depression

Lamoreaux, Naomi R.; Rosenthal, Jean-Laurent - 2022

Legal records indicate that conflicts of interest -- that is, situations in which officers and directors were in a position to benefit themselves at the expense of minority shareholders -- were endemic to corporations in the late-nineteenth and early-twentieth century U.S. Yet investors...

Persistent link: https://www.econbiz.de/10013324108

Contractibility and Asset Ownership : On-Board Computers and Governance in U.S. Trucking

Baker, George P.; Hubbard, Thomas N. - 2021

We investigate how the contractibility of actions affecting the value of an asset affects asset ownership. We examine this by testing how on-board computer (OBC) adoption affects truck ownership. We develop and test the proposition that adoption should lead to less ownership by drivers,...

Persistent link: https://www.econbiz.de/10013228614

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