One potential weakness of all divisional profitability schemes is their inability to capture synergies among business units. One …
Incentives
The Economics of Organizational Architecture
Drawing on the work of Michael Jensen and William Meckling, the co-formulators of “agency cost theory,” the authors …
University of Rochester Roundtable on Bailout vs. Bankruptcy: The Case...
In an event staged at Rochester’s Geva Theatre in the midst of the global financial crisis in 2009, …
Economics and Ethics: The Case of Salomon Brothers
The author draws two main lessons from the Treasury bond bidding scandal at Salomon Brothers that took place …
Morgan Stanley Roundtable On Private Equity And Its Import For...
The role of private equity in global capital markets appears to be expanding at an extraordinary rate. Morgan …
A Long Look At Short-Termism: Questioning The Premise
Short-termism is said to plague all parties in the investment community in the U.S, including investment managers, companies, …
The Case For Activist Directors: A Conversation With Ira M....
In this conversation held at the 2016 Millstein Governance Forum at Columbia Law School, Ira Millstein, a leading …