How can businesses make corporate governance fit for purpose?
|Professor Jeffrey Gordon||Columbia University|
This research will look into challenging questions surrounding corporate governance. The United States, indeed much of the OECD, seems caught in a certain malaise, emphasising three salient problems: significant inequality; economic insecurity; and slow economic growth. In the search for causes and remedies, some have identified the governance of large public corporations, “corporate governance,” as a first order cause. The build-up of socio-political pressure from this “triad” gives rise to a systemic risk that will affect asset prices. This may produce shareholders that are “stability-minded” as well as “efficiency-minded.” The research will specifically look at the question, “Is there a way out of this box that does not entail a drastic change in the ownership and control of public corporations?”