A physicist derives a mathematical formula that success equates the product of both personal quality and the potential value of a random idea. As a Northeas

Internal capital markets and financial constraints Duchin (JF 2010) empirically finds that multidivisional firms with robust internal capital markets ret

Precautionary-motive and agency reasons for corporate cash management Bates, Kahle, and Stulz (JF 2009) empirically find that public firms have doubled t

BlackRock CEO Larry Fink emphasizes his key conviction that public corporations should make a positive contribution to society apart from boosting the botto

American CEOs of about 200 corporations issue a joint statement in support of stakeholder value maximization. The Business Roundtable offers this statement

Main reasons for share repurchases Temporary market undervaluation often induces corporate incumbents to initiate a share repurchase program to boost the