Weekly Roundup: October 16

This roundup contains a collection of the posts published on the Forum during the week of October 16–22, 2020.

The Persistence of Fee Dispersion among Mutual Funds

Posted by Michael J. Cooper (University of Utah), Michael Halling (Stockholm School of Economics), and Wenhao Yang (Chinese University of Hong Kong), on Friday, October 16, 2020

Tags: Asset management, Capital allocation, Institutional Investors, Mutual funds

Investing Responsibly: Company Interaction

Posted by Carine Smith Ihenacho, Jonas Jølle, and Dyveke Rogan, Norges Bank Investment Management, on Friday, October 16, 2020

Tags: Boards of Directors, Engagement, ESG, Institutional Investors, International governance, Long-Term value, Shareholder voting, Sovereign Wealth Funds, Stewardship, Transparency

“Bump-Up Exclusion” Bars Coverage of Settlement of Deal Litigation Claims

Posted by William Savitt, Ian Boczko, and Corey J. Banks, Wachtell, Lipton, Rosen & Katz LLP, on Saturday, October 17, 2020

Tags: Boards of Directors, California, Class actions, D&O insurance, Merger litigation, Mergers & acquisitions, Securities litigation, State law

Key Takeaways from the New WEF/IBC ESG Disclosure Framework

Posted by Martha Carter, Matt Filosa, and Sean Quinn, Teneo Governance, on Saturday, October 17, 2020

Tags: Accounting standards, Climate change, Disclosure, Environmental disclosure, ESG, Institutional Investors, SASB, Sustainability

Corporate Board Practices in the Russell 3000 and S&P 500

Posted by Matteo Tonello, The Conference Board, on Sunday, October 18, 2020

Tags: Board composition, Board dynamics, Board tenure, Board turnover, Boards of Directors, Director qualifications, Director tenure, Diversity, ESG, Institutional Investors, Overboarding, Shareholder voting

Acquisition of Majority Ownership May Constitute a “Benefit”

Posted by Gail Weinstein, Steven Epstein, and Mark H. Lucas, Fried, Frank, Harris, Shriver & Jacobson LLP, on Sunday, October 18, 2020

Tags: Controlling shareholders, Delaware cases, Delaware law, Fiduciary duties, Merger litigation, Mergers & acquisitions, Special committees, Tender offer

How Executives Can Help Sustain Value Creation for the Long Term

Posted by Kevin Sneader and Tim Koller (McKinsey & Company) and Sarah Keohane Williamson (FCLTGlobal), on Monday, October 19, 2020

Tags: Boards of Directors, Capital allocation, Executive Compensation, Executive performance, Long-Term value, Management, Manager characteristics, Shareholder value, Short-termism, Stakeholders

Private Equity and COVID-19

Posted by Paul A. Gompers (Harvard Business School), Steven N. Kaplan (University of Chicago), and Vladimir Mukharlyamov (Georgetown University), on Monday, October 19, 2020

Tags: Capital structure, COVID-19, Decision making, Firm performance, International corporate governance, Managmenet, Private equity, Value Creation

The Fiduciary Duties of Bank Boards

Posted by Abbott Cooper, Driver Management Company, on Monday, October 19, 2020

Tags: Agency costs, Bank boards, Banks, Entrenchment, Fiduciary duties, Financial institutions, Financial regulation, Liability standards, Proxy fights, Shareholder activism, Shareholder voting

ISS Supports Delaware Choice of Forum Provisions

Posted by Theodore N. Mirvis, William Savitt, and Sabastian V. Niles, Wachtell, Lipton, Rosen & Katz, on Tuesday, October 20, 2020

Tags: Charter & bylaws, Delaware law, Forum selection, Institutional Investors, ISS, Proxy advisors, Securities litigation, Shareholder voting

Are ISS Recommendations Informative? Evidence from Assessments of Compensation Practices

Posted by Ana Albuquerque (Boston University), Mary Ellen Carter (Boston College), and Susanna Gallani (Harvard Business School), on Tuesday, October 20, 2020