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Research by the Corporate Governance Research Initiative

CGRI research spans these topics: general principles, board of directors, leadership and succession planning, compensation, audit and risk, shareholders, and proxy advisory.

Working Paper|

Where’s the Greenium?

David F. Larcker, Edward M. Watts
February 12, 2019

This study investigates whether investors are willing to trade-off wealth for societal benefits. We take advantage of unique institutional features of the municipal securities market to provide insight into this...

Working Paper|

Peer Group Choice and Chief Executive Officer Compensation

David F. Larcker, Charles McClure, Christina Zhu
February 11, 2019

We examine the selection of peer groups that boards of directors use when setting the level of CEO compensation. This choice is controversial because it is difficult to ascertain whether...

Stanford Closer Look|

Where Does Human Resources Sit at the Strategy Table?

Courtney Hamilton, David F. Larcker, Stephen A. Miles, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative, February
2019

Two decades ago, McKinsey advanced the idea that large U.S. companies are engaged in a “war for talent” and that to remain competitive they need to make a strategic effort...

Working Paper|

Non-answers during Conference Calls

Ian D. Gow, David F. Larcker, Anastasia A. Zakolyukina
January 3, 2019

We construct a novel measure of disclosure choice by firms. Our measure uses linguistic analysis of conference calls to flag a manager’s response as providing an explicit “non-answer” to an...

Quick Guide|

CEO Compensation: Data

David F. Larcker, Brian Tayan
CGRI Quick Guide Series. Corporate Governance Research Initiative, January
2019

This Data Spotlight provides data and statistics on the level and structure of CEO compensation in the United States. This data supplements in the issues introduced in the Quick Guides...

Quick Guide|

Shareholders and Corporate Control: Data

David F. Larcker, Brian Tayan
CGRI Quick Guide Series. Corporate Governance Research Initiative, January
2019

This Data Spotlight provides data and statistics on shareholder activism and the market for corporate control. This data supplements the issues introduced in the Quick Guides “The Market for...

Stanford Closer Look|

The Wells Fargo Cross-Selling Scandal

Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative, January
2019

In this Closer Look, we examine the tensions between corporate culture, financial incentives, and employee conduct as illustrated by the Wells Fargo cross-selling scandal. In 2016, Wells Fargo admitted that...

Stanford Closer Look|

Scaling Up: The Implementation of Corporate Governance in Pre-IPO Companies

David F. Larcker, Brian Tayan
Stanford Closer Look Series. Corporate Governance Research Initiative, December
2018

Companies are required to have a reliable system of corporate governance in place at the time of IPO in order to protect the interests of public company investors and stakeholders....

Stanford Closer Look|

The Double-Edged Sword of CEO Activism

David F. Larcker, Stephen A. Miles, Brian Tayan, Kim Wright-Violich
Stanford Closer Look Series. Corporate Governance Research Initiative, November
2018

CEO activism — the practice of CEOs taking public positions on environmental, social, and political issues not directly related to their business — has become a hotly debated topic in...

Survey|

The Evolution of Corporate Governance: 2018 Study of Inception to IPO

David F. Larcker, Brian Tayan
CGRI Survey Series. Corporate Governance Research Initiative, Stanford Rock Center for Corporate Governance, November
2018

In summer and fall 2018, the Rock Center for Corporate Governance at Stanford University surveyed 53 founders and CEOs of 47 companies that completed an Initial Public Offering in the...

man in a suit holding his smartphone in front of his laptop

Corporate Governance Insights by Stanford Business

December 19, 2018
Written

What Does “Value” Mean to You?

Stanford GSB faculty recommend books, articles, and movies related to the concept.
A contemplative figure. Credit: Jocelyn Tsaih
December 17, 2018
Written

What Can We Learn from the Downfall of Theranos?

The health company’s plummet carries valuable lessons for Silicon Valley.
Elizabeth Holmes. Credit: Reuters/Brendan McDermid
November 28, 2018
Written

The Cost of CEO Activism

A new survey shows how Americans respond to CEOs who weigh in on controversial issues.
People show support of Colin Kaepernick. Credit: Reuters/Stephanie Keith
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