Bebchuk-Hirst Study of Index Funds Wins IRRC Institute Prize

Itai Fiegenbaum is a co-Editor of the Forum and Fellow at the Harvard Law School Program on Corporate Governance.

The IRRC Institute has announced that its 2018 annual investor research prize will be awarded to a study by Lucian Bebchuk and Scott Hirst, Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy. Upon announcing the study winning the $10,000 prize, the IRRC Institute’s Executive Director Jon Lukomnik described the study as making “a substantial contribution to understanding big picture, weighty issues for investors and the global economy.”

According to the IRRC’s press release announcing the prize, the study “provides an analytical framework for understanding the incentives of index fund managers,” “provides the first comprehensive and detailed empirical account of the full range of stewardship activities that index fund managers do and do not undertake,” and “considers the significant policy implications of the  issues analyzed.”

The judges on the panel selecting the winning study were:

  • Robert Dannhauser, Head of Capital Markets Policy, CFA Institute
  • James Hawley, Professor emeritus and former Director of the Elfenworks Center for Fiduciary Capitalism at St. Mary’s College of California
  • Erika Karp, Founder, CEO and Chair of the Board of Cornerstone Capital
  • Nell Minow, Governance Expert and Huffington Post Columnist

Biographies of the judges are available here.

More information about the IRRC Institute award is available here. The Bebchuk & Hirst study for which the prize was awarded is available here, and is discussed on the Forum here.

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