The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Wed, 22 Apr 2026 11:32:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Board Equity Ownership and Its Impact on Corporate Performance – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Board Equity Ownership and Its Impact on Corporate Performance https://corpgov.law.harvard.edu/2026/04/21/board-equity-ownership-and-its-impact-on-corporate-performance/?utm_source=rss&utm_medium=rss&utm_campaign=board-equity-ownership-and-its-impact-on-corporate-performance https://corpgov.law.harvard.edu/2026/04/21/board-equity-ownership-and-its-impact-on-corporate-performance/#respond Tue, 21 Apr 2026 11:30:08 +0000 https://corpgov.law.harvard.edu/?p=180402?d=20260420160024EDT Posted by Victoria Tellez (FCLTGlobal) and Jonathan Ponder (MSCI Institute), on Tuesday, April 21, 2026
Editor's Note:

Victoria Tellez is the Research Director at FCLTGlobal and Jonathan Ponder is the Vice President of Research & Development at MSCI Institute. This post is based on their FCLTGlobal memorandum.

Executive Summary

Boards with higher and more durable equity ownership are associated with stronger long-term shareholder returns, risk-adjusted returns (alpha), and differences in investment behavior, specifically higher R&D intensity based on FCLTGlobal analysis, in collaboration with MSCI Institute and leveraging data from MSCI Solutions, of 2,137 companies in the MSCI All Country World Index (ACWI) from 2020 to 2025.[a]

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