What drives the marginal dollar of “goodness” investment by managers: maximization of shareholder value or managerial agency conflicts? The CEOs backing the Business Roundtable’s “Statement on the Purpose of a Corporation that Serves All Americans” argue that Corporate Social Responsibility (CSR) should maximize shareholder value rather than be the outcome of agency conflicts. While it may be true that CSR, on average, will allow firms to do better by doing… Read More »Paper Spotlight: Do Managers Do Good with Other People’s Money?
The September issue of RFS has published! The Editor’s Choice paper is: “How ETFs Amplify the Global Financial Cycle in Emerging Markets” by Nathan Converse, Eduardo Levy-Yeyati, and Tomas Williams
The September issue of RAPS has published! The Editor’s Choice paper is: “Limits of Arbitrage and Primary Risk-Taking in Derivative Securities” by Meng Tian and Liuren Wu
The SFS has created a LinkedIn page, which will cover news for the Society, our journals (Review of Financial Studies, Review of Asset Pricing Studies, and Review of Corporate Finance Studies), and the SFS Cavalcade conferences.