We explain when and how staggered difference-in-differences regression estimators,
commonly applied to assess the impact of policy changes, are biased. These biases are …

Predatory Value Extraction explains how an ideology of corporate resource allocation
known as' maximizing shareholder value'(MSV) that emerged in the 1980s came to …

With the pandemic caused by the novel coronavirus SARS-Co V-2 raging around the world,
many countries' economies are at a crucial juncture. The COVID-19 external shock to the …

Value investing is the age-old investment strategy that involves buying securities that appear
cheap relative to some fundamental anchor. For equity investors that anchor is typically a …

Corporate payouts have reached record levels. Over the past half-century, publicly held US
firms have more than tripled inflation-adjusted dividends, while real share repurchase …

This article embarks on ethical trade-offs at the sustainability/finance interface by contrasting
shareholders' interest in short-term financial returns with society's interest in counteracting …

Special purpose acquisition companies (SPACs) were the financial-legal hit of 2021, before
they weren't. Breaking records and displacing, to an extent, conventional initial public …

This article argues that the key mechanisms protecting portfolio investors in public corporate
securities are indirect. They do not rely on actions by the investors or by any private actor …

The perceived dangers of" short-termism" in public capital markets have come to occupy
center stage as a chief concern for corporate America. During the last decade, an emerging …

Today's widespread criticism of US companies as shortsighted and ever willing to sacrifice
their future for near‐term profit is by no means new. As the author of this article shows, such …