In his lecture titled “Post-Bubble, Post-Scandals: Restoring the Credibility of American Business
Leadership,” B. Joseph White encouraged scholars
to participate in the reform process and raised the following research questions:

Whatever happened to dividends?

A 1978 study by Gene Fama and Ken French found that two-thirds of companies listed on the major exchanges paid dividends. By 1999, the percentage had fallen to 21 percent.
Why? If more cash flow were dedicated to dividends, would there be greater accountability and fewer excesses in corporate spending?

Are we on the threshold of a new era of institutional investor activism?

How can boards and management strike the proper balance between contention and cooperation?

How can board members perform both roles effectively?

Public companies keep two sets of books: One to report to shareholders, the other to report to the Internal Revenue Service.

Would investors be better able to evaluate corporate financial performance if data from public tax returns were available to investors?