Corporate Governance

Reforming Corporate Governance. Gresham College public lecture (videotranscript)
The Value of Blockholders. From my response to the Green Paper on Industrial Strategy and Green Paper on Corporate Governance
Kodak and the Importance of Proactive GovernanceEconomia column on how corporate governance is not only about avoiding failures, but also promoting innovation
Dual Class Shares. Why dual-class shares generally worsen governance. From my response to the Green Paper on Industrial Strategy
Oral testimony in House of Commons Corporate Governance inquiry (transcript)

Access to Finance Blog

How Political Connections Can Hurt, Rather Then Help, Firm Value

How Political Connections Can Hurt, Rather Then Help, Firm Value

We often think of political connections as clearly favoring a company. Perhaps the most extreme example is Donald ...
Do Workers on Boards Protect Jobs in a Downturn?

Do Workers on Boards Protect Jobs in a Downturn?

A hot topic is whether companies should have workers on their boards, to ensure they act in the interest of ...
Spillover Effects of Hedge Fund Activism

Spillover Effects of Hedge Fund Activism

Hedge fund activism is a controversial topic.  Prominent lawyer Marty Lipton argues that the long-term future of ...
How Short-Term Activists Create Long-Term Value

How Short-Term Activists Create Long-Term Value

Activist hedge funds are often seen as the epitome of all that's wrong with capitalism. They cut investment, fire ...
A Layman’s Guide to Separating Causation from Correlation … and Noticing When Claims of Causality are Invalid

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. Smaller school districts ...
How Proxy Advisors Influence Voting Outcomes

How Proxy Advisors Influence Voting Outcomes

Proxy advisors are playing an increasingly influential role in corporate governance, by providing investors with ...
CEOs Cut Investment To Sell Their Own Shares At High Prices

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 ...
Is Short Termism Really A Problem?

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 ...
Conflicts of Interest Among Proxy Advisors

Conflicts of Interest Among Proxy Advisors

The Importance of Proxy Advisors Proxy advisors play a critical role in corporate governance. One important way ...
Corporate Governance in China

Corporate Governance in China

China will soon become the largest economy in the world, but many Westerners (myself included) know very little ...
House of Commons Report on Corporate Governance

House of Commons Report on Corporate Governance

Today the House of Commons Select Committee on Business, Energy, and Industrial Strategy (BEIS) published its ...