This Finance survey examines (a) Concerns about the environmental impact of companies are substantially better resolved by shareholder activism towards management than by regulations or government intervention; (b) Concerns about diversity, equality and inclusion within companies are substantially better resolved by shareholder activism towards management than by regulations or government intervention
Keyword: stakeholders
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data data protection debt debt brake debt ceiling debt obligations debt relief debt support debt sustainability debt-to-GDP ratio default defaults defense economics deflation DEI democracy democratic legitimacy dependency ratio deposit insurance destination-based cash flow tax destintation-based cash flow tax Detroit developing countries developing economies development economics digital currency digital economy digital infrastructure digital markets Digital Markets Act digital service providers digital services discount rates discrimination disease diseases disruption distributional effects diversification diversity dollar dollarization dominant firms doom loops drought drug prices drug use duration dutch disease dynamic scoring
early years earnings Eastern Europe economic agents economic geography economic growth economic history economic insecurity economic integration economic performance economic performance; electoral cycles; government policy; political economy; public policy; voters economic principles economic recovery economic reseach economic stimulus Economics 101 economists education educational quality efficiency efficient markets elections electoral cycles electric vehicles emerging markets empirical economics employees employment employment contracts employment effects employment protection end-of-day trading energy energy policy environmental regulation equal pay equities equity equity injections equity risk premium ESG ESMA essential goods ethanol euro euro exit Europe European Central Bank European champions European Commission European recovery fund European Union Europen Union Eurozone ex-ante regulation exchange rate adjustment exchange rates exchange-traded products executive compensation expectations experiments export restrictions exports externalities extreme weather
Facebook faculty pay fairness family size Fannie Mae fast-track authority FDIC federal regulations Federal Reserve fee caps fee transparency fees fiduciary duty financial crises financial crisis financial markets financial performance financial policy financial regulation financial regulations bank runs financial services financial stability finished good prices firm capabilities firm finances firm location first past the post fiscal benefits fiscal cliff fiscal councils fiscal deficit fiscal deficits fiscal policy fiscal rules fiscal stimulus fiscal sustainability floods food prices food security forecasting foreign aid foreign direct investment fossil fuels fracking France Freddie Mac free markets free movement free trade full capacity fund performance fundamental value fungibility
G7 gambling game theory gasoline GDP GDP growth gender gaps gentrification geographical mobility geopolitics Germany gift-giving global commerce global financial crisis global minimum tax global minimum tax rate global supply chains globalization gold Gold Standard Google government borrowing government budget government budgets government MMFs government policy Greece greedflation green technologies green technology green transition
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labor force participation labor income labor market labor market flexibility labor markets labor productivity labor regulations labor supply Laffer curve laissez-faire land use land value tax landlords law and economics legacy preference legal liability legalisation legislative proposals lender of last resort leverage liabilities liberal democracy licensing life expectancy life outcomes liquefied natural gas liquidity listings listings securities exchanges living standards llong-term borrowing loan relief loans lobbying local government lockdowns London long-term borrowing lotteries low-income low-income households low-skill workers LTCM Luxembourg
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NAFTA Nash equilibrium national debt national security natural disasters natural gas natural resources net neutrality net zero Netherlands network externalities new entry New York Nippon Steel Nobel Prize Nobel Prize in Economic Sciences Nobel Prize in Economics non-bank financial intermediaries non-compete clauses non-tariff barriers Northern Ireland Norway nudge policies
OASI trust fund obesity occupational choice occupational licensing offshore accounts offshoring oil prices Omicron online sales online sales tax open economies order execution output gap outsourcing overheating
panics passive investing patent trolls patents payday lending payroll taxes peer review pension funds pensions personal finance pharmaceutical industry physical infrastructure physical risks platforms policy advice policy entrepreneurs political appointments political economy pollution populism portfolio allocation portfolio diversification portfolio management portfolio theory Portugal poverty poverty reduction pre-school education prescription drugs President Biden President Obama President Trump price cap price caps price controls price gouging primary voting private credit private equity private firms private funds private schools privatization product quality production production capacity productivity professional sports teams profitability profits prohibition property rights property taxes protectionism psychology public corporations public debt public finances public goods public health public ownership public policy public procurement public revenues public schools public transport public utilities publishers purchasing power
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This European survey examines (a) In pursuing social and environmental initiatives, the average public company generates more benefits than costs in terms of profits, (b) In pursuing social and environmental initiatives, public companies would benefit from a measurably lower cost of capital, (c) There are substantial social benefits when managers of public companies make choices that account for the impact of their decisions on customers, employees, and community members beyond the effects on shareholders
This Finance survey examines (a) Public companies that pursue social and environmental initiatives bear no measurable costs (in terms of lower profits) relative to similar companies that do not pursue such initiatives; (b) Public companies that pursue social and environmental initiatives benefit from a measurably lower cost of capital than similar companies that do not pursue such initiatives; (c) There are substantial social benefits when managers of public companies make choices that account for the impact of their decisions on customers, employees, and community members beyond the effects on shareholders
This European survey examines (a) It is best for society if the management of publicly traded corporations only considers the impact of their decisions on customers, employees, and community members to the extent that these effects feedback to affect shareholder wealth; (b) The typical chief executive officer of a publicly traded corporation is paid more than his or her marginal contribution to the firm's value
This Finance survey examines (a) Having companies run to maximize shareholder value creates significant negative externalities for workers and communities. (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. (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.
This week’s IGM European Economic Experts Panel statements:
A) Having companies run to maximize shareholder value creates significant negative externalities for workers and communities.
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 small impacts on shareholder value.
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.
This week’s IGM Economic Experts Panel statements:
A) Having companies run to maximize shareholder value creates significant negative externalities for workers and communities.
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.
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.
This week's IGM Economic Experts Panel Statement:
It is best for society if the management of U.S. publicly traded corporations only considers the impact of their decisions on customers, employees, and community members to the extent that these impacts feedback to impact shareholder wealth.
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