I examine whether the Securities and Exchange Commission (SEC) in the US is a learning organization (i.e., one that is capable of learning and adaptation to the dynamic nature of the securities markets – the subject of the SEC's regulatory oversight). Using the treatment of public corporate...

The central aim of the article is company governance, i.e., researching governance of a company that does not want to be only financially successful but also direct its governance toward socially responsible governance. The article begins with the definition of "theoretical backgrounds," in...

We construct a novel data set to show that, between 2003-2020, up to one-fifth of America’s largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of “universal” and...

We construct a novel data set to show that, between 2003-2020, up to one-fifth of America's largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of "universal" and...

Horizontal shareholding exists when significant shareholders have stock in horizontal competitors. (It is often imprecisely called "common shareholding," but that term can also apply when shareholders own stock in two noncompeting corporations. It differs from "cross-shareholding," which...

This Article shows that new economic proofs and empirical evidence provide powerful confirmation that, even when horizontal shareholders individually have minority stakes, horizontal shareholding in concentrated markets often has anticompetitive effects. The new economic proofs show that,...

This study analyzes the effect that banks' investments in corporate social responsibility (CSR) have on bank performance. I find that banks' investments in CSR have a positive impact on financial performance, measured in terms of both accounting performance and stock market value. However, not...

We examine the link between the genetic diversities of executive board members and bank financial misconduct. The premise is that genetic diversity results in different perspectives, skills, and abilities that impact on the effectiveness of executive board guidance and monitoring, including with...

We provide an in-depth comparison of US and UK shareholder proposal rules and relate the differences in rules to differences in proposing activities, using comprehensive shareholder proposal data from both countries for 2000-2006. UK proposal rules are more onerous on proposal sponsors, but UK...