The Hoover Institution at Stanford University will host the Inaugural Conference of the Working Group on Corporate Governance on May 30-31, 2024

The American corporation is confronted by demands that it be fundamentally rethought. The inaugural conference will examine economic theory and evidence that can be used to assess proposed improvements to the shareholder primacy paradigm.

Some other questions the conference will explore include: are there significant consequences to society that a shareholder-oriented system is not accounting for? How have politics and law shaped corporate and board governance in the U.S.? What are the costs and benefits of a more stakeholder-oriented system?

Thursday, May 30th
Time Content Presenters Discussant/Chair

8:30 AM

Breakfast

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9:00 AM

Welcome: Amit Seru, Hoover Institution & Stanford University

 

 

9:15 AM

What Purpose Do Corporations Purport? Evidence from Letters to Shareholders” by Raghuram Rajan, Pietro Ramella and Luigi Zingales

Presenter: Luigi Zingales, University of Chicago
(Research Briefing)

Discussant: Justin Grimmer, Hoover Institution and Stanford University

Discussant: Roberta Romano, Yale University

Chair: Dan Kessler, Hoover Institution and Stanford University

10:30 am

Break

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11:00 AM

Measuring the Long-Term Impact of Environmental Externalities” by Steffen Andersen, Luigi Guiso, Federico Marciano, Paola Sapienza, and Luigi Zingales

Presenter: Paola Sapienza, Hoover Institution & Northwestern University
(Research Briefing)

Discussant: Vikrant Vig, Stanford University

Discussant: Adi Sunderam, Harvard University

Chair: Stephen Haber, Hoover Institution & Stanford University

12:15 PM

Break

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1:15 PM

"What do Boards do during Board Meetings?" by John Kepler, David Larcker, and Amit Seru

Presenter: John Kepler, Stanford University

Discussant: Andy Hall, Stanford University

Discussant: Nadya Malenko, Boston College

Chair: Peter Henry, Hoover Institution

2:30 PM

Break

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3:00 PM

Roundtable on University Governance

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Panelist: Stephen Haber, Hoover Institution & Stanford University

Panelist: Luigi Zingales, University of Chicago

Panelist: Paola Sapienza, Hoover Institution

Panelist: John Etchemendy, Stanford University

Chair: Ross Levine, Hoover Institution

4:15 PM

Conclusion

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6:00 PM

Dinner

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Friday, May 31st
Time Content Presenters Discussant/Chair

8:30 AM

Breakfast

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9:00 AM

What Do Shareholders Want? Consumer Welfare and the Objective of the Firm” by Keith M. Ericson

Presenter: Keith M. Ericson, Boston University
(Research Briefing)

Discussant: Ross Levine, Hoover Institution

Discussant: Christian Leuz, University of Chicago

Chair: Peter DeMarzo, Stanford University

10:15 AM

Break

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10:45 am

Investing in Influence: Investors, Portfolio Firms, and Political Giving” by Marianne Bertrand, Matilde Bombardini, Raymond Fisman, Francesco Trebbi and Eyub Yegen

Presenter: Matilde Bombardini, UC Berkeley
(Research Briefing)

Discussant: Brandice Canes Wrone, Hoover Institution & Stanford University

Discussant: Steven Callander, Stanford University

Chair: Anat Admati, Stanford University

12:00 PM

Lunch

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1:00 PM

Conclusion of conference

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