The divergence of ownership and management in modern capitalism gave rise to agency theory as a framework for analysing corporate governance. There is now an emerging body of literature questioning the wisdom of the focus on agency theory in business schools. We argue that the poverty of agency...

Evidence in financial markets of an opportunity for pure arbitrage, and therefore a violation of the law of one price, is considered an anomaly to be noted. This paper reports an apparent violation of the law of one price between UK government gilts and their separately traded principal and...

Climate change is one of the most urgent and difficult issues facing civilisation. Recently, the chief scientist to the British Government said that it was a bigger threat than global terrorism. Not all would agree with him, but it does share with global terrorism the property of being a new,...