Tag
Reverse causality
2articles
November 2026
2 articles on this page
Ethics & corporate governance10 min readDoes doing good pay? Four questions to ask before you believe it
For an owner or board offered an ESG investment on the grounds that 'doing good pays'. Four gates (measurement, causation, beyond correlation, incentive) are used to re-read a famous claim in Larry Fink's 2019 letter and to set Vogel (2005) beside Friede (2015).
- Ethics & corporate governance11 min read
Diversity and profit: what McKinsey's 21% does and does not show
For chief executives, HR heads and owners about to cite "diverse executive teams are 21 per cent more likely to out-earn their industry" in a board paper or investor deck. It reads the method of McKinsey's 2018 report, shows what it cannot answer, and gives six questions to ask first.