"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
Simplicity, Transparency, and Sustainability: A New Model For CEO Pay
How did BP CEO Bob Dudley get paid £14m in 2015, despite the stock price falling by over 15%? Because of a complex, opaque pay scheme known as a
Blockchains: How they work, and how they may transform the world
We hear blockchains mentioned all the time, but very few people know what they actually are, how they work, and what effect they may have. The
The returns to investing in grass-roots sport and the distraction of Olympic medals
"Unless we look more creatively about how we engage everyone in physical activity, we may win medals but we will be bottom of the league table on
Why has CEO pay risen so much faster than worker pay?
Arguably the most convincing "smoking gun" evidence that CEO pay is excessive is how it's risen much faster than median worker pay. In the U.S., CEO
Long-Term Executive Incentives Improve Innovation and Corporate Responsibility
Executive compensation needs to be reformed. But, most of the calls for reform focus on the wrong dimensions. They focus on the level of pay, or the