Law Commons^™

Lifting Labor’S Voice: A Principled Path Toward Greater Worker Voice And Power Within American Corporate Governance, Leo E. Strine Jr., Aneil Kovvali, Oluwatomi O. Williams

Ira M. Millstein Center for Global Markets and Corporate Ownership

The dramatic decline in corporate gainsharing with American workers over the last two generations has contributed to stagnating wages, soaring inequality, and economic insecurity. There are global causes of greater inequality and depressed pay that go beyond the decline in workers’ share. But many public policymakers and economists believe that the reduced share of corporate prof its that American workers receive has been a major factor in the much larger increase in inequality that has occurred in the United States, compared to its market economy allies in the Organization for Economic Co-operation and Development (OECD). To some, the explanation for …

Short-Termism, Douglas Chia

Ira M. Millstein Center for Global Markets and Corporate Ownership

Perhaps no topic in corporate governance has garnered more and stronger reactions than the debate over whether shorttermism is an issue for public corporations, the public markets, or the economy.

From the explosion in recent years of buybacks and dividends, to the declines in investment in research and development and capital expenditures, and unprecedented corporate profits and cash holdings, some argue that capitalism has focused in on the wrong outcomes, or worse, been coopted by the few at the expense of the many.

This essay will lay out the data and arguments over short-termism and what structural changes may be …