The recent wave of corporate scandals provides continuing evidence that boards have failed to fulfill their role as the top-level corporate control mechanism. Destroyed companies, ruined reputations and in some cases jail sentences have created an environment in which substantial changes in the...

This paper is a response to Deirdre Nansen Mccloskey's comment On 'Putting Integrity into Finance: A Purely Positive Approach' (by Werner Erhard and Michael C. Jensen) which can be found at 'http://ssrn.com/abstract=2963231' http://ssrn.com/abstract=2963231

The seemingly never-ending scandals in the world of finance, accompanied by their damaging effects on value and human welfare, make a strong case for an addition to the current paradigm of financial economics. We summarize here our new theory of integrity that reveals integrity as a purely...

This course is designed to leave students being leaders and exercising leadership effectively as their natural self-expression – rather than attempting to learn the characteristics, styles, and skills of noteworthy leaders, and then trying to remember and apply them where appropriate. The...

This issue of the Journal of Financial Economics contains the first set of studies in the new Clinical Papers section. The objective of this section is to provide a high-quality professional outlet for scholarly studies of specific cases, events, practices, and specialized applications. By...