René Stulz image

René Stulz

2 Votes

OSU Fisher School

  • Columbus, Ohio

About

  • Everett D. Reese Chair of Banking and Monetary Economics
  • Chairman, Scientific Council, Swiss Finance Institute (2019-2006)
  • Chairman, New York Federal Reserve Bank/GARP Global Risk Forum (2011, 2013, 2016, 2019)

Voting History

Finance

Executive Pay

Question A: The typical chief executive officer of a publicly traded corporation in the U.S. is paid more than his or her marginal contribution to the firm's value.
Vote Confidence Median Survey Vote Median Survey Confidence
Did Not Answer
Uncertain
7
Question B: Mandating that U.S. publicly listed corporations must allow shareholders to cast a non-binding vote on executive compensation was a good idea.
Vote Confidence Median Survey Vote Median Survey Confidence
Did Not Answer
Uncertain
7
Finance

Stakeholder Capitalism

Question A: Having companies run to maximize shareholder value creates significant negative externalities for workers and communities.
Vote Confidence Median Survey Vote Median Survey Confidence
Disagree
10
Disagree
8
Comment: Shareholder wealth maximization can make both workers and communities better off. Neither workers nor communities benefit from failing firms
Question B: Appropriately managed corporations could create significantly greater value than they currently do for a range of stakeholders – including workers, suppliers, customers and community members – with negligible impacts on shareholder value.
Vote Confidence Median Survey Vote Median Survey Confidence
Disagree
10
Disagree
8
Question C: Effective mechanisms for boards of directors to ensure that CEOs act in ways that balance the interests of all stakeholders would be straightforward to introduce.
Vote Confidence Median Survey Vote Median Survey Confidence
Disagree
8
Disagree
8
Comment: I am not convinced that the mechanisms proposed so far would work.
Finance

Climate Reporting Mandate

Question A: A mandate for public companies to provide climate-related disclosures (such as their greenhouse gas emissions and carbon footprint) would provide financially material information that enables investors to make better decisions.
Vote Confidence Median Survey Vote Median Survey Confidence
Disagree
5
Agree
7
Comment: It seems unlikely for most firms.
Question B: A mandate for public companies to provide climate-related disclosures would provide material information that enables investors to make better decisions with regards to non-financial objectives (such as aiding portfolio choice based on ESG principles).
Vote Confidence Median Survey Vote Median Survey Confidence
Uncertain
2
Agree
7
Comment: It could, but not necessarily would.
Question C: A mandate for public companies to provide climate-related disclosures would induce them to reduce their climate impact substantially.
Vote Confidence Median Survey Vote Median Survey Confidence
Disagree
8
Uncertain
6