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HLS Faculty & Senior Fellows
Program on Corporate Governance Advisory Board
- Peter Atkins
- David Bell
- Kerry E. Berchem
- Richard Brand
- Daniel Burch
- Paul Choi
- Jesse Cohn
- Arthur B. Crozier
- Renata J. Ferrari
- Andrew Freedman
- Ray Garcia
- Joseph Hall
- Jason M. Halper William P. Mills
- David Millstone
- Theodore Mirvis
- Philip Richter
- Elina Tetelbaum
- Sebastian Tiller
- Marc Trevino
- Steven J. Williams
Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation
The Long-Term Impact of the Pandemic on Corporate Governance
The pandemic is likely to have lasting, material repercussions for how health care enterprises approach corporate governance. These repercussions are separate and distinct from the board’s disaster-response duties that were summoned into application during the height of the health crisis. Rather, they relate to how certain traditional governance principles and practices are expected to change […]
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Posted in Accounting & Disclosure, Boards of Directors, Executive Compensation, Practitioner Publications
Tagged Board oversight, Boards of Directors, Compliance and disclosure interpretation, COVID-19, Engagement, Executive Compensation, Management, Risk management, Risk oversight, Succession
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CEO Summit
Overview CEO Summit participants were in strong agreement: CEOs must speak up about racism and companies must take concrete actions to become more inclusive. Even companies that are already taking action must do more. The starting point, in the view of many CEOs, is to initiate conversations, which can be difficult. This involves communicating with […]
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Posted in Academic Research, Boards of Directors, Corporate Social Responsibility, ESG
Tagged Accountability, Board leadership, Corporate Social Responsibility, Diversity, ESG, Management, Stakeholders
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COVID-19: Audit Committee Financial Reporting Guidebook
The global economy and business community are still feeling the profound impacts of COVID-19, and will for sometime in the future. Given the current business and market conditions amid the pandemic, companies and audit committees continue to face accounting and reporting challenges as they meet regulatory requirements and respond to investor expectations. Audit committees need […]
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Posted in Accounting & Disclosure, Boards of Directors, Practitioner Publications
Tagged Accounting, Audit committee, Boards of Directors, COVID-19, Disclosure, Financial reporting, Firm valuation, Internal auditors, Risk, Risk disclosure
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The Effect of Managers on Systematic Risk
In the paper The Effect of Managers on Systematic Risk, we ask whether top manager-specific differences account for part of the unexplained variation in traditional asset pricing models. A key principle in asset pricing theory is that investors are compensated for bearing systematic risk, but not idiosyncratic risk. Drawing on this insight, empirical asset pricing […]
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Posted in Academic Research, Comparative Corporate Governance & Regulation, Empirical Research
Tagged Behavioral finance, Management, Manager characteristics, Managerial style, Risk management, Systemic risk
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Rulemaking Petition on Disclosure to Help Assess Climate Risk
Ms. Vanessa Countryman, Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 June 10, 2020 Dear Secretary Countryman, On behalf Impax Asset Management LLC, Investment Adviser to Pax World Funds, we submit this rulemaking proposal to require that companies identify the specific locations of their significant assets, so that investors, analysts and […]
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Posted in ESG, Institutional Investors, Practitioner Publications, Securities Regulation
Tagged Asset management, Climate change, Environmental disclosure, ESG, Long-Term value, Risk management, SEC, Securities regulation, Sustainability, Systemic risk
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Protecting Financial Stability: Lessons from the Coronavirus Pandemic
The coronavirus pandemic has produced a public health debacle of the first-order. But, the virus has also propagated the kind of exogenous shock that can precipitate—and to a certain degree has precipitated—a systemic event for our financial system. This still unfolding systemic shock comes a little more than a decade after the last financial crisis. […]
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Posted in Academic Research, Banking & Financial Institutions, Financial Crisis, Financial Regulation, HLS Research
Tagged Bailouts, Banks, CARES Act, COVID-19, Financial crisis, Financial institutions, Financial regulation, Macroeconomics, Systemic risk
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COVID-19: Navigating Core Audit Committee Responsibilities
As businesses confront the profound operational, financial and workforce disruption brought on by the COVID-19 pandemic, there’s no such thing as business as usual. That’s as true for corporate boards as it is for frontline workers. In particular, audit committees will have a lot on their plates in the coming months to provide critical oversight […]
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Posted in Accounting & Disclosure, Boards of Directors, Practitioner Publications
Tagged Accounting, Audit committee, Audits, Boards of Directors, Compliance & ethics, Compliance and disclosure interpretation, Disclosure, External auditors, Internal auditors, Risk, Risk oversight
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Response Letter to Statement Announcing SEC Staff Roundtable on Emerging Markets
Via Email July 8, 2020 The Honorable Jay Clayton Securities and Exchange Commission 100 F Street NE Washington, DC 20549-1090 Re: July 9 Roundtable on Emerging Markets Dear Mr. Chairman: I am writing in response to the May 4 “Statement Announcing SEC Staff Roundtable on Emerging Markets” soliciting “views on the risks of investing in […]
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