Distortions in memory impose important bounds on rationality but have been largely disregardedin economics. While it is possible to learn, it is more difficult, and sometimes impossible, tounlearn...

Corporate scandals, reflected in excessive management compensation and fraudulentaccounts, cause great damage...

In view of recent corporate scandals, it is argued that corporate governance can learn from public governance ...

The most influential theory of corporate governance, principal agency theory, does not take into consideration that the key task of modern corporations is to generate and transfer firm-specificknowledge.