Pension reform is widely seen as essential in order to defuse the difficulties EU governments would otherwise face in respect of their social security pension systems in a context of population ageing. Particularly when such reform involves funding of future pensions, it may have radical implications for European financial markets, entailing important changes in the demand for financial assets ...

This paper is about extending stakeholder dialogue to include citizens in decision making which impacts on corporate sustainabilityolicy frameworks using the tools of regulation and economic instruments, and communication strategies, have a significant influence on the level of corporate sustainability. Involving citizens, through the use of deliberative and representative (participatory) proce...

In many OECD countries, statutory corporate tax rates are lower than personal income tax rates. The present paper argues that this tax rate differentiation is an optimal tax policy if there are problems of asymmetric information between investors and firms in the capital market. The reduction of the corporate tax rate below the personal tax rate encourages equity financing and thus mitigates th...

This paper focuses on the practice of Corporate Foresight within a multinational automotive company. It portrays how the early detection of mediumto long-term developments in the broader business environment, including social and market developments, is integrated into innovation and strategy processes. The objective of the paper is to portray the genesis of Corporate Foresight, major working a...

For decades financial economists have been attempted to determine the optimal investment policy by recognizing the option value embedded in irreversible investment whose project value evolves as a geometric Brownian motion (GBM). This paper aims to examine the effects of the optimal investment trigger and of the misspecification of stochastic processes on investment in real options applications...

The article proposes a policy framework for analysing corporate governance toward sustainable development. The aim is to set up a framework for analysing market evolution toward sustainability. In the first section, the paper briefly refers to recent theories about both market and government failures where some scepticism about setting the framework conditions for market actors becomes visible....

Firewall admins and auditors face some tough questions: • Is the firewall really enforcing the corporate security policy? • How will the new admin learn the firewall rules? • We're acquiring company Y. What does their firewall allow?

Dr. Thomas Hoppe is assistant professor of Innovation and Sustainable Governance at the Centre for Studies in Technology and Sustainable Development (CSTM). He specializes in environmental policy, public policy, policy implementation, climate policy, sustainable housing, energy transition and corporate social responsibility. He has also been involved in externally funded projects concerning pol...

In the cases of corporate crime, US prosecutors can lodge charges against the corporation, its managers, or both. However, the emergence of systemically important firms, most notably in the financial sector, constrains prosecutors. This paper develops a new model of corporate criminal liability and shows how the Too Big To Jail problem reduces the deterrence effect of a crime control policy rel...

In this paper I argue that corporate finance theory, empirical research, practical applications, and policy recommendations are deeply rooted in an underlying theory of the firm. I also argue that while the existing theories have delivered very important and useful insights, they seem to be quite ineffective in helping us cope with the new type of firms that are emerging. I outline the characte...