Weekly Roundup: October 21, 2016

Weekly Roundup
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This roundup contains a collection of the posts published on the Forum during the week of October 21, 2016–October 27, 2016.

Distracted Shareholders and Corporate Actions

Posted by Alberto Manconi, Bocconi University, on Friday, October 21, 2016

Tags: Accountability, Acquisitions, Agency costs, Behavioral finance, Information environment, Institutional Investors,Management, Mergers & acquisitions, Oversight

CEO Succession Practices in the S&P 500: 2016 Edition

Posted by Matteo Tonello, The Conference Board, Inc., on Friday, October 21, 2016

Tags: Board communication, Board independence, Boards of Directors, Corporate culture, Diversity, Executive Compensation, Executive performance, Executive turnover, Firm performance, Management, Pay for performance,Succession

Moving Towards a FinTech National Banking Charter?

Posted by Michael H. Krimminger, Cleary Gottlieb Steen & Hamilton LLP, on Saturday, October 22, 2016

Tags: Banks, Deposit insurance, Exchange Act, FDIC, Financial institutions, Financial regulation, Financial technology,Innovation, OCC, Securities regulation, State law

Are Friday Announcements Special? Overcoming Selection Bias

Posted by Alexander Vedrashko, Simon Fraser University, on Sunday, October 23, 2016

Tags: Behavioral finance, Capital markets, Dividends, Earnings announcements, Earnings disclosure, Firm performance,Information environment, Market efficiency, Market reaction, Market timing, Merger announcements, Repurchases

Can Business Help Fix Our Broken Politics?

Posted by Ben W. Heineman, Jr., Harvard Law School and Harvard Kennedy School of Government, onSunday, October 23, 2016

Tags: Compliance & ethics, Congressional elections, Corporate Social Responsibility, Disclosure, Lobbying, Political spending, Presidential elections, US House, US Senate

Culpable Participation in Fiduciary Breach

Posted by Deborah DeMott, Duke Law School, on Monday, October 24, 2016

Tags: Boards of Directors, Charter & bylaws, Contracts, Delaware cases, Delaware law, Duty of good faith, Fiduciary duties, Liability standards, Merger litigation, Misconduct, Negligence, RBC Capital, Shareholder suits, Tortious interference

The Legal and Regulatory Requirements of Executive Compensation

Posted by Paula Loop, PricewaterhouseCoopers LLP, and Arthur Kohn, Cleary Gottlieb Steen & Hamilton LLP, on Monday, October 24, 2016

Tags: Boards of Directors, CD&A, Clawbacks, Compensation committees, Compensation disclosure, Compensation ratios, Dodd-Frank Act, Executive Compensation, Golden parachutes, Institutional Investors, Proxy advisors, Regulation FD, Say on pay, Securities regulation

Universal Proxies

Posted by Scott Hirst, Harvard Law School, on Monday, October 24, 2016

Tags: Boards of Directors, Management, Proxy contests, Proxy fights, Proxy materials, Proxy voting, Rule 14a-4, SEC,Shareholder activism, Shareholder nominations, Shareholder rights, Shareholder voting, Universal proxy ballots, US House, US Senate

Problems Using Aggregate Data to Infer Individual Behavior

Posted by Clifford G. Holderness, Boston College, on Tuesday, October 25, 2016

Tags: Boards of Directors, Common-law claims, International governance, Investor protection, Ownership structure,Securities regulation

Broadening Noteholders’ Ability to Receive Redemption Premiums Following Indenture Defaults

Posted by Gregory Fernicola, Skadden, Arps, Slate, Meagher & Flom LLP, on Tuesday, October 25, 2016

Tags: Bankruptcy, Bondholders, Bonds, Covenants, Debt, Debt securities, Debtor-creditor law, Defaults, Risk, U.S. federal courts

CEO Pay Ratio and Income Inequality: Perspectives for Compensation Committees

Posted by Ira Kay and Blaine Martin, Pay Governance LLC, on Tuesday, October 25, 2016

Tags: Boards of Directors, Compensation committees, Compensation disclosure, Compensation ratios, Dodd-Frank Act,Executive Compensation, Management, Pay for performance, Public interest, Say on pay, SEC, SEC rulemaking,Securities regulation

Shareholder Wealth Consequence of Insider Pledging of Company Stock as Collateral for Personal Loans

Posted by Jason Zein, UNSW Business School, on Wednesday, October 26, 2016

Tags: Equity-based compensation, Executive Compensation, Financial crisis, Incentives, Liquidation, Management, Risk,Securities regulation, Shareholder value, Shocks

Global Board Culture Survey 2016

Posted by Jack “Rusty” O’Kelley, III, and Anthony Goodman, Russell Reynolds Associates, onWednesday, October 26, 2016

Tags: Board dynamics, Board leadership, Board performance, Boards of Directors, Corporate culture, Director qualifications, Diversity, Engagement, Firm performance, International governance, Long-Term value, Management,Surveys

The Impact of SEC Enforcement on Public Finance

Posted by Andrew Ceresney, U.S. Securities & Exchange Commission, on Wednesday, October 26, 2016

Tags: Bonds, Broker-dealers, Dodd-Frank Act, Due diligence, Information asymmetries, Institutional Investors, Investor protection, Misconduct, Municipal securities, Pension funds, Public finance, SEC, SEC enforcement, Securities enforcement, Securities fraud, Securities regulation

Tags: Board communication, Board composition, Board dynamics, Board performance, Boards of Directors, Capital allocation, Diversity, Engagement, Institutional Investors, Long-Term value, Management, Shareholder activism, Short-termism, Succession, Surveys

Weekly Roundup: October 21, 2016–October 27, 2016