A forthcoming article in Management Science explores how corporate tax planning shapes firm productivity and its broader economic consequences.

A case produced by the Family Business Community (Garza Limon ) won best Family Business case in the 2025 EFMD competition.

ICGS 12th Annual Conference at HEC Montreal - Keynote Speaker Update

We have confirmed the following Keynote Speaker for our upcoming conference:

Dr. Maria Goranova will be presenting on "Towards Strategic Corporate Governance?"

Governance reforms have sought to enhance shareholder empowerment, rein in agency costs of corporate managers, and incentivize the creation of shareholder value. But what if both corporate managers and corporate shareholders could contribute to and extract value from publicly traded corporations? A strategic—firm-centric—corporate governance view, considering how the focal organization benefits from agency and principal value, while bearing both agency and principal costs, helps illuminate the broader implications of corporate governance reforms. Could governance remedies that ignore the health, resilience, and sustainability of the organization itself promote long-term value creation by publicly traded corporations, or would they lead to blind spots and unanticipated side effects for organizations and society?

ICGS 12th Annual Conference at HEC Montreal - Keynote Speaker Update

We have confirmed the following Keynote Speaker for our upcoming conference:

Dr. Randall Morck will be presenting on “Corporate Governance for the Social Good”. Debate about whether corporations are better run to make profits or to advance social welfare is as old as stock markets. Earlier debates on this issue are remarkable for their depth and economic literacy, and knowledge of them could greatly elevate our current discussions. Over the past centuries, the pendulum has swung back and forth several times, with right and left-leaning advocates often switching sides, and seeing one's views espoused by one's ideological foes can instill perspective. Sorting through these historical debates suggests a way forward - corporate governance success measured by productivity-enhancing profits but achieved by competing for the genuine esteem of customers, employees, other stakeholders, and the public at large. Pathologies arise because whenever profits become the goal of corporate governance, they become a less useful measure of good governance.

Roy Shapira has recently won the ECGI Prize for best Law Working Paper in 2026, for this paper (together with Luca Enriques and Matteo Gatti) on How the EU Sustainability Due Diligence Directive Could Reshape Corporate America. The paper explores the interactions between ESG legislation in EU and non-EU legal systems. Specifically, it examines how director oversight duties affect and are affected by EU legislation, even when the company is not European. The paper was recently published in Stanford Law Review.

I am organizing a summer school in July in Groningen, details are on the attached flyer.

A new article published in the January 2025 edition of Journal of Management, titled 'Corporate Short-Termism: A Review and Research Agenda'.