CGRI research spans these topics: general principles, board of directors, leadership and succession planning, compensation, audit and risk, shareholders, and proxy advisory.
The Wells Fargo Cross-Selling Scandal
In this Closer Look, we examine the tensions between corporate culture, financial incentives, and employee conduct as illustrated by the Wells…
Venture Capital and Pre-IPO Governance: Data
This Data Spotlight provides data and statistics on the venture capital industry and the governance of pre-IPO companies in the United…
Scaling Up: The Implementation of Corporate Governance in Pre-IPO Companies
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…
The Double-Edged Sword of CEO Activism
CEO activism — the practice of CEOs taking public positions on environmental, social, and political issues not directly related to their business…
The Evolution of Corporate Governance: 2018 Study of Inception to IPO
In summer and fall 2018, the Rock Center for Corporate Governance at Stanford University surveyed 53 founders and CEOs of 47 companies that…
Long-Term Economic Consequences of Hedge Fund Activist Interventions
We examine the long-term effects of interventions by activist hedge funds. Prior papers document positive equal-weighted long-term returns and…
2018 CEO Activism Survey
In summer and fall 2018, the Rock Center for Corporate Governance at Stanford University conducted a nationwide survey of 3,544 individuals —…
Board Structure: Data
This Data Spotlight provides data and statistics on the attributes of boards of directors of publicly traded companies in the United States. This…
Cashing It In: Private-Company Exchanges and Employee Stock Sales Prior to IPO
Companies in the United States are staying private longer, and this trend has important implications for companies and their employees. Employees…
Corporate Governance Failure, Fraud, and Scandal: Data
This Data Spotlight provides data and statistics on unethical behavior in corporations and other negative outcomes including bankruptcy,…
Netflix Approach to Governance: Genuine Transparency with the Board
The hallmark of good corporate governance is an independent board of directors to oversee management. However, it is not clear that independent…
The Big Thumb on the Scale: An Overview of The Proxy Advisory Industry
Proxy advisory firms have significant influence over the voting decisions of institutional investors and the governance choices of publicly traded…
Governance Gone Wild: Epic Misbehavior at Uber Technologies
In this Closer Look, we examine the roles that leadership and culture play in contributing to chronic misbehavior and the manner in which it takes…
Critical Update Needed: Cybersecurity Expertise in the Boardroom
The board of directors is expected to ensure that management has identified and developed processes to mitigate risks facing the organization,…
Shareholder Activism
This Research Spotlight provides a summary of the academic literature on shareholder activism, including:
- The impact of union activism…
Building a Better Board Book
Board members rely on information provided by management to inform their decisions. Unfortunately, some research calls into question the adequacy…
CEO Talent: A Dime a Dozen, or Worth its Weight in Gold?
Governance experts have vigorously debated the appropriateness of CEO compensation. And yet, very little effort has been made to understand the…
CEO Talent: America’s Scarcest Resource? 2017 CEO Talent Survey
In the summer of 2017, Stanford Graduate School of Business and The Rock Center for Corporate Governance surveyed 113 directors of Fortune 250…
Proxy Advisors
This Research Spotlight provides a summary of the academic literature on the role of proxy advisors in the proxy voting process:
…
Retired or Fired: How Can Investors Tell if a CEO Was Pressured to Leave?
CEO succession at many companies occurs in a black box. Shareholders are not privy to boardroom discussions prior to the announcement of a CEO…
An Activist View of CEO Compensation
Understanding CEO compensation plans is a continuing challenge for directors and investors. The disclosure of these plans is dictated by SEC rules…
Equity, Insider Trading, & Restatements
This Research Spotlight provides a summary of the academic literature on the impact of equity ownership on firm performance and agency problems:…
Board Evaluations and Boardroom Dynamics
The boards of all publicly traded companies are required to conduct a self-evaluation at least annually to determine whether they are functioning…
CEO Pay Levels
This Research Spotlight provides a summary of the academic literature on CEO pay levels in the United States. It reviews the evidence of:
…