Activist hedge funds are often seen as the epitome of all that's wrong with capitalism. They cut investment, fire employees, and break contracts to
A Layman’s Guide to Separating Causation from Correlation … and Noticing When Claims of Causality are Invalid
Imagine you're the Minister for Education, deciding how large to make a school district. Larger school districts offer parents more school choice. You
How Proxy Advisors Influence Voting Outcomes
Proxy advisors are playing an increasingly influential role in corporate governance, by providing investors with guidance on how to vote in director
CEOs Cut Investment To Sell Their Own Shares At High Prices
One of the most fundamental concerns with corporations is that they focus on short-term profit rather than investing for the long-term. This is a
Is Short Termism Really A Problem?
"Myopia [short-termism] is a first-order problem faced by the modern firm. In the last century, firms were predominantly capital-intensive, but
Conflicts of Interest Among Proxy Advisors
The Importance of Proxy Advisors Proxy advisors play a critical role in corporate governance. One important way in which shareholders exert
Corporate Governance in China
China will soon become the largest economy in the world, but many Westerners (myself included) know very little about it. Moreover, the vast majority
House of Commons Report on Corporate Governance
Today the House of Commons Select Committee on Business, Energy, and Industrial Strategy (BEIS) published its report on corporate governance, after