Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation

Corporate Governance for Sustainability Statement

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Tuesday, January 7, 2020

Introduction The current model of corporate governance needs reform. There is mounting evidence that the practices of shareholder primacy drive company directors and executives to adopt the same short time horizon as financial markets. Pressure to meet the demands of the financial markets drives stock buybacks, excessive dividends and a failure to invest in productive […]

Click here to read the complete post
Posted in Accounting & Disclosure, Boards of Directors, ESG, Practitioner Publications | Tagged , , , , , , , , | Comments Off on Corporate Governance for Sustainability Statement

Proxy Voting Analytics (2016-2019) and 2020 Season Preview

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Monday, January 6, 2020

Proxy Voting Analytics reviews proxy voting data of business corporations registered with the U.S. Securities and Exchange Commission (SEC) that held their annual general shareholder meetings (AGMs) between January 1, 2019, and June 30, 2019, and that were in the Russell 3000 index as of January 2019. Unless specifically noted, the report examines data compiled […]

Click here to read the complete post
Posted in Boards of Directors, Corporate Elections & Voting, ESG, Institutional Investors, Practitioner Publications | Tagged , , , , , , , , , , | Comments Off on Proxy Voting Analytics (2016-2019) and 2020 Season Preview

Mutual Fund Borrowing Poses Risk to Investors

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Monday, January 6, 2020

Millions of Americans rely on mutual fund investments to pay for their retirement, but mutual funds contain hidden, previously under-appreciated risks. Our new study, forthcoming in the Journal of Empirical Legal Studies, provides evidence that mutual funds borrow in an attempt to improve their performance. But those attempts not only fail to boost average returns, […]

Click here to read the complete post
Posted in Academic Research, Derivatives, Institutional Investors | Tagged , , , , , , , , | Comments Off on Mutual Fund Borrowing Poses Risk to Investors

Undressing the No-Vote Fee

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Sunday, January 5, 2020

A break-up fee payable by a public target company associated with a competing proposal is a near universal feature of public company sales. The fee is typically payable if the target exercises a fiduciary termination right to accept a superior proposal or in a “tail” situation where a competing proposal is completed during a set […]

Click here to read the complete post
Posted in Corporate Elections & Voting, Mergers & Acquisitions, Practitioner Publications, Securities Litigation & Enforcement | Tagged , , , , , , , | Comments Off on Undressing the No-Vote Fee

The Group Pleading Doctrine Following Janus

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Saturday, January 4, 2020

The “group pleading doctrine” has long been a tool employed in class action securities litigation by plaintiffs seeking to name corporate officers who are otherwise not alleged to have directly made any of the challenged statements. It is widely known that the viability of the doctrine was questioned in the wake of 1995 enactment of […]

Click here to read the complete post
Posted in Court Cases, Practitioner Publications, Securities Litigation & Enforcement | Tagged , , , , , , , | Comments Off on The Group Pleading Doctrine Following Janus

SEC Proposed Proxy Rules Changes—A Risk to Companies, Corporate Political Disclosure and Accountability

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Friday, January 3, 2020

When the Supreme Court eased limits on corporate spending for politics a decade ago, it nonetheless underscored important principles of corporate democracy and political disclosure. Almost a decade since Citizens United, however, the U.S. Securities and Exchange Commission (SEC) is pressing forward with proposed rules changes that would diminish a pillar of corporate democracy and […]

Click here to read the complete post
Posted in Accounting & Disclosure, Legislative & Regulatory Developments, Practitioner Publications, Securities Regulation | Tagged , , , , , , , , , | Comments Off on SEC Proposed Proxy Rules Changes—A Risk to Companies, Corporate Political Disclosure and Accountability

Automating Securities Class Action Settlements

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Friday, January 3, 2020

Securities class actions, like nearly all class actions in the United States, are ostensibly opt-out lawsuits. Under the opt-out model, individuals who fall within the class definition are automatically members of the class unless they take affirmative steps to opt out. This model is meant to ensure that individuals who do not have the financial […]

Click here to read the complete post
Posted in Academic Research, Institutional Investors, Securities Litigation & Enforcement, Securities Regulation | Tagged , , , , , , , | Comments Off on Automating Securities Class Action Settlements

Weekly Roundup: December 27, 2019-January 3, 2020

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Friday, January 3, 2020

Institutional Trading around Corporate News: Evidence from Textual Analysis Posted by Alan Guoming Huang (University of Waterloo), Hongping Tan (McGill University), and Russ Wermers (University of Maryland), on Friday, December 27, 2019 Tags: High-frequency trading, Information asymmetries, Information environment, Institutional Investors, Market reaction, Reputation SEC Proposes to Expand Definition of “Accredited Investor” Posted by Jessica Forbes, Stacey Song, and Christine Zhao, Fried, […]

Click here to read the complete post
Posted in Weekly Roundup | Tagged | Comments Off on Weekly Roundup: December 27, 2019-January 3, 2020

Statement by Chairman Clayton on the Role of Audit Committees in Financial Reporting and Oversight Responsibilities

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Thursday, January 2, 2020

Introduction The strength of our public company financial reporting system relies on many stakeholders playing different but interconnected roles in a process designed to provide investors and our markets with high-quality, reliable financial information. Audit committees play a vital role in the financial reporting system through their oversight of financial reporting, including the internal control […]

Click here to read the complete post
Posted in Accounting & Disclosure, Practitioner Publications, Regulators Materials, Securities Regulation, Speeches & Testimony | Tagged , , , , , , , | Comments Off on Statement by Chairman Clayton on the Role of Audit Committees in Financial Reporting and Oversight Responsibilities

A New Dataset of Historical States of Incorporation of U.S. Stocks 1994-2019

By Harvard Law School Forum on Corporate Governance and Financial Regulation | Published Thursday, January 2, 2020

To learn about the effects of (state) corporate law, researchers often compare the performance of firms incorporated in different states. An obvious requirement for such comparisons is to know where firms are incorporated, or more to the point, where they were incorporated at the moment of the comparison (“historical state of incorporation”). Unfortunately, identifying the […]

Click here to read the complete post
Posted in Academic Research, Accounting & Disclosure, Empirical Research, HLS Research | Tagged , , , , , , | 1 Comment
Page 245 of 1026
1 … 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 … 1,026