The duty of corporate fiduciaries to act in the best interests of the firm lies at the heart of most stories about corporate law. It has occupied the center of what is probably the longest and most extensive debate in corporate law: whether the duties should be owed to shareholders alone or to...

This is the second paper in a series exploring the empirical evidence arising from the increasing use of certain executive compensation best practices. The first paper, “How Good are our “Best Practices” When it Comes to Executive Compensation?,” summarizes research finding that these...

The current market for proxy advice arises out of an agency problem, but not the one usually assumed. Investment fund managers have relatively few economic incentives to invest effort on corporate governance and so they tend to organize around picking the best stocks and trading those stocks at...