Critics of private equity have warned that the high leverage often used in PE-backed companies could contribute to …
Governance
“Non-Financial” Is a Misnomer, but Doesn’t Have to Be a...
With enterprise values now representing increasing multiples of companies’ net book assets, investors are clearly looking beyond financial …
Attracting Long-Term Shareholders
Corporate CEOs often say they don’t hear enough from shareholders about strategic issues related to long-term value creation. …
Morgan Stanley Roundtable on Capital Structure and Payout Policy
A group of distinguished finance academics and practitioners discuss a number of topical issues in corporate financial management: …
Columbia Law School Roundtable on The Future of Capitalism
In this discussion that took place at Columbia Law School’s Millstein Center last October (and thus well before …
An Honorable Harvest: Universal Owners Must Take Responsibility for Their...
Despite a maturing industry of ESG professionals and coordinated efforts by shareholders calling for more responsible corporate behavior, …
China’s Economy Is Not Overtaking America’s
Most scholars and pundits, along with the general public, believe that China is an economic juggernaut set to …
Using Organizational Architecture to Lead Change
Effective leadership involves more than developing and communicating the right strategic vision for the company. To encourage employees …
Transfer Pricing and the Control of Internal Corporate Transactions
One potential weakness of all divisional profitability schemes is their inability to capture synergies among business units. One …
The Economics of Organizational Architecture
Drawing on the work of Michael Jensen and William Meckling, the co-formulators of “agency cost theory,” the authors …