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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 Board’s Impact on Long-term Value
Taking a long-term approach in business leads to superior performance. Companies that orient themselves around a long-term time horizon while also delivering against short-term objectives have been shown to outperform their peers on several key business measures, including revenue, earnings, economic profit, market capitalization and job creation. These companies were hit hard during the last […]
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Posted in Boards of Directors, Comparative Corporate Governance & Regulation, Practitioner Publications
Tagged Board independence, Board performance, Boards of Directors, Director compensation, Director qualifications, Long-Term value, Managmenet, Short-termism
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Coalitions Among Plaintiffs’ Attorneys in Securities Class Actions
The Private Securities Litigation Reform Act (PSLRA) revolutionized the competitive landscape for plaintiffs’ attorneys in securities class actions. By creating a presumption that the lead plaintiff will be the shareholder or group of shareholders with the largest financial interest, the PSLRA gives law firms a strong incentive to form coalitions of shareholders to aggregate losses. […]
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Posted in Academic Research, Securities Litigation & Enforcement
Tagged Attorneys' fees, Class actions, PSLRA, Securities litigation, Settlements
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Artificial Intelligence and Ethics: An Emerging Area of Board Oversight Responsibility
Introduction The unprecedented situation the entire world finds itself in due to the COVID-19 pandemic presents fundamental challenges to businesses of all sizes and maturities. As the thinking shifts from crisis response to recovery, it is clear that there will be a greater need for scenario planning in a world remade by COVID-19. Artificial Intelligence […]
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Posted in Accounting & Disclosure, Boards of Directors, Practitioner Publications
Tagged Artificial intelligence, Board oversight, Compliance & ethics, Cybersecurity, Human capital, Oversight, Privacy, Risk management
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NYC Comptroller’s Boardroom Accountability 3.0 Results
This spring, New York City Comptroller Scott Stringer and the New York City Retirement Systems (NYCRS) announced the successful initial results of Boardroom Accountability Project 3.0. Building on the “Rooney Rule” pioneered by the National Football League (NFL), Boardroom 3.0 calls on major companies to adopt search policies requiring the consideration of women and racially/ethnically […]
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Posted in Boards of Directors, ESG, Practitioner Publications
Tagged Accountability, Board composition, Boards of Directors, Diversity, Institutional Investors, Management, New York, Oversight, Pension funds, Transparency
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Say on Pay and the Effects of the CEO Pay Ratio: Key Findings From the 2020 Proxy Season
With the 2020 proxy season now concluded, thousands of U.S. public companies have filed their proxy statements highlighting key trends with regards to their governance practices. Among the many trends captured from this year’s proxy season are those related to Say on Pay and the CEO Pay Ratio. In this post, Equilar analyzes Say on […]
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Posted in Boards of Directors, Corporate Elections & Voting, Executive Compensation, Institutional Investors, Practitioner Publications
Tagged Compensation ratios, Executive Compensation, Institutional Investors, Management, Proxy advisors, Proxy season, Say on pay, Shareholder voting
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Governing Through the Pandemic
Introduction It is too soon to know whether, how, and to what extent the COVID-19 pandemic will lead to permanent changes—the “next normal”—in how companies are governed or if, post-pandemic, we will go back to the way things were just a few short months ago. In the meantime, governing through the pandemic and the post-pandemic […]
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Posted in Boards of Directors, ESG, Institutional Investors, Practitioner Publications
Tagged Board oversight, Boards of Directors, COVID-19, ESG, Institutional Investors, Long-Term value, Management, Overboarding, Risk management, Stakeholders, Succession
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The Harvard-Oxford Debate on Stakeholder Capitalism
This Thursday, June 25, 2020, the Saïd Business School at the University of Oxford will hold a debate titled Stakeholder versus Shareholder Capitalism: the Great Debate. The debate will be held between Harvard Law School Professor Lucian Bebchuk and Oxford University Professor Colin Mayer. In the tradition of Oxford debates, the audience watching it will be […]
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As Winston Churchill said, “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” We are seeing some faint signs of progress in the struggle to contain the pandemic. But the risk of resurgence is real, and if the virus does prove […]
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Posted in Boards of Directors, Financial Crisis, Practitioner Publications
Tagged Board oversight, Capital markets, COVID-19, Cybersecurity, ESG, Executive performance, Financial crisis, Globalization, Long-Term value, Management, Risk management
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A Hierarchy of Stakeholder Needs
Amid unforeseen circumstances, how do companies prioritize their stakeholders? In his 1943 paper “A Theory of Human Motivation”, Abraham Maslow put forward his seminal theory on the “Hierarchy of Needs.” The theory describes how we as humans must fulfill certain basic needs before we can progress to higher levels of needs and desires. For example, […]
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Posted in Corporate Social Responsibility, ESG, Practitioner Publications
Tagged COVID-19, ESG, Long-Term value, Shareholder primacy, Shareholder value, Stakeholders, Sustainability
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