Nobel laureate delivered AIIFL-CR inaugural lecture

Nobel laureate and University Professor at Harvard, Professor Eric Maskin honoured AIIFL by delivering the inaugural lecture for the AIIFL-CR Distinguished Lectures Series in Corporate Law and Governance on 22 February 2016. More than 250 participants filled the lecture theatre to capacity with lively discussion with the speaker when he spoke on the topic of Mechanisms for Corporate Decision Making, drawing on his Mechanism Design Theory for which he was awarded the Nobel Prize in Economics in 2007.  Professor Maskin explained that the majority rule in corporate decision making as currently practised does not yield an efficient outcome for the company as a whole, and that this defect can be remedied by trade offs in the mechanism he has proposed.  This proposed mechanism can also be used for yielding an efficient outcome in a decision making body with different composition.

The lecture series is funded by the Hong Kong Companies Registry.  Law Dean Professor Michael Hor said, “I am grateful in particular to Ms Ada Chung JP, the Registrar of Companies, and to our Professor Say Goo for their foresight in bringing the two institutions together to stimulate interest and thought in the crucially significant field of corporate law and governance.  It is a perfect example of how industry and academia ought to work together”.

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