In this major reinterpretation of the evolution of the American corporation, Mark Roe convincingly demonstrates that the ownership structure of large U.S. firms owes its distinctive character as much to politics as to economics and technology. His provocative examination addresses essential issues facing American businesses today as they compete in the new international marketplace.

Why stock-market short-termism is not causing severe damage to the American economy According to many political leaders, pundits, and corporate lawmakers, stock-market-driven short-termism - when corporations prioritize immediate results in the next quarter over their longer-term interests - is harming the American economy. This view, popular in influential circles, sees short-termism as causing sharply declining research and development (R&D), too many stock buybacks, and...

Lying at the very edge of the eighteenth-century city, behind high walls and forbidding gates, the Dublin Foundling Hospital was long viewed with horror and suspicion. Yet, following its closure, it seemed to have slipped from the city's memory. The Least of These uncovers the story of the Hospital, from its origins as a workhouse in 1703 during the Penal Laws to its demise in 1830. Its mission: to take in the children of poor Catholics and raise them as Protestan...

Most scholarship on corporate governance in the last two decades has focused on the relationships between shareholders and managers or directors. Neglected in this vast literature is the role of employees in corporate governance. Yet ""human capital,"" embodied in the employees, is rapidly becoming the most important source of value for corporations, and outside the United States, employees often have a significant formal role in corporate governance. This volume turns the spotlight on the...

Corporate governance is on the reform agenda all over the world. How will global economic integration affect the different systems of corporate ownership and governance? Is the Anglo-American model of shareholder capitalism destined to become the template for a converging global corporate governance standard or will the differences persist? This reader contains classic work from leading scholars addressing this question as well as several new essays. In a sophisticated political economy an...

This Open Access textbook, endorsed by UK Oncology Nursing Society (UKONS), covers the effects impact of the COVID-19 pandemic on Cancer care and how health care professionals and people with a cancer diagnosis have been affected. It discusses current research covering COVID and Cancer and considers the different impacts on patients with solid tumours and those with a haematological malignancy. The authors critically appraise how technology has been used to combat the pandemic as well as i...

The legendary founder of Vanguard "presents an insider's view of what's wrong with corporate America and what can be done to improve it" (Burton G. Malkiel, author of A Random Walk Down Wall Street).New York Times-bestselling author of Enough and The Little Book of Common Sense Investing John Bogle has seen firsthand the innermost workings—and grotesque abuses—of the financial industry, and is renowned as an advocate for the small...

The forces behind an economic and political crisis in the makingA “problem of twelve” arises when a small number of institutions acquire the means to exert outsized influence over the politics and economy of a nation.The Big Four index funds of Vanguard, State Street, Fidelity, and BlackRock control more than twenty percent of the votes of S&P 500 companies—a concentration of power that’s unprecedented in America. Then there’s the rise of private equity fun...

Simple solutions to America's five most pressing public policy issues, from healthcare to education to inequality, from an esteemed business leader.A New York Times BestsellerA Bloomberg Best Book of 2016Already garnering praise in the academy and on both side of the political aisle for its accessible and hopeful message, James M. Stone's Five Easy Theses lays out commonsense solutions to our...

A trenchant account of an unacknowledged driver of inequality and wage stagnation in America: the failure of antitrust law to prevent the consolidation of employers, who use their market power to suppress wages. Since the 1970s, Americans have seen inequality skyrocket--and job opportunities stagnate. There are many theories of why this happened, including the decline of organized labor, changes in technology, and the introduction of tax policies that favored the rich. A ...

In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the ...

An in-depth look at the trouble with shareholder value thinking and at better options for models of corporate purpose.Executives, investors, and the business press routinely chant the mantra that corporations are required to "maximize shareholder value." In this pathbreaking book, renowned corporate expert Lynn Stout debunks the myth that corporate law mandates shareholder primacy. Stout shows how shareholder value thinking endangers not only investors but the rest ...