-
Supported By:
Subscribe or Follow
Program on Corporate Governance Advisory Board
- Peter Atkins
- David Bell
- Kerry E. Berchem
- Richard Brand
- Daniel Burch
- Paul Choi
- Jesse Cohn
- Arthur B. Crozier Christine Davine
- Renata J. Ferrari
- Andrew Freedman
- Ray Garcia
- Byron Georgiou
- Joseph Hall
- Jason M. Halper William P. Mills
- David Millstone
- Theodore Mirvis
- Philip Richter
- Elina Tetelbaum
- Sebastian Tiller
- Marc Trevino Jonathan Watkins
- Steven J. Williams
HLS Faculty & Senior Fellows
Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation
Mootness Fees
In Mootness Fees, forthcoming in the Vanderbilt Law Review, we document the latest development in merger litigation, mootness dismissals. In 2016, the Delaware courts announced in In re Trulia that they would no longer approve merger litigation settlements which provided for a release and an award of attorneys’ fees if they did not achieve meaningful […]
Click here to read the complete post
Posted in Academic Research, Accounting & Disclosure, Court Cases, Empirical Research, Mergers & Acquisitions, Securities Regulation
Tagged Class actions, Delaware law, Disclosure, Fairness review, Merger litigation, Mergers & acquisitions, Securities litigation, Settlements, Shareholder suits, Transparency
Comments Off on Mootness Fees
NYS Common Retirement Fund’s Climate Action Plan
Message from the Comptroller As Comptroller of New York State and Trustee of the Common Retirement Fund (CRF), I am deeply concerned about the impact of climate change on the Fund’s investments, as well as its impact on the economy as whole. I understand the immense investment risks posed by climate change, but also recognize […]
Click here to read the complete post
Posted in Accounting & Disclosure, Institutional Investors, Practitioner Publications
Tagged Climate change, Environmental disclosure, ESG, Institutional Investors, New York, Pension funds, Stewardship, Sustainability
Comments Off on NYS Common Retirement Fund’s Climate Action Plan
Get Us There—The Ceres Strategic Plan
In 1989, in response to the Exxon Valdez oil spill, a group of forward-thinking investors and environmentalists, led by pioneer Joan Bavaria, came together to form Ceres. At the time, they were at the forefront of a transformative movement in business. They understood that the most successful companies in the long term will be those […]
Click here to read the complete post
Posted in Accounting & Disclosure, Corporate Social Responsibility, Practitioner Publications
Tagged Climate change, Corporate Social Responsibility, Environmental disclosure, ESG, Risk management, Sustainability
Comments Off on Get Us There—The Ceres Strategic Plan
Exchanging Views on Exchange-Traded Funds
Welcome to all of you. We are so delighted to be able to host you at the Securities and Exchange Commission for today’s workshop on exchange-traded funds (ETFs). The discussion today is sure to be fascinating. Aside from my greeting, everything I say reflects my own views and not necessarily those of the Commission or […]
Click here to read the complete post
Posted in Practitioner Publications, Securities Regulation, Speeches & Testimony
Tagged Capital markets, Exchange-traded funds, Index funds, Investment Company Act, Investor protection, Liquidity, Market conditions, SEC, Transparency
Comments Off on Exchanging Views on Exchange-Traded Funds
Defined Contribution Plans and the Challenge of Financial Illiteracy
Retirement saving in the United States has changed dramatically. The classic defined-benefit (DB) plan has largely been replaced by the defined-contribution (DC) plan. With the latter, individual employees’ decisions about how much to save for retirement and how to invest those savings determine the benefits available to them upon retirement. This system relies on employees […]
Click here to read the complete postWeekly Roundup: June 7–13, 2019
Blurred Lines: Government Involvement in Corporate Internal Investigations and Implications for Individual Accountability Posted by Andrew Bauer, Jonathan Green, and Sara D’Amico, Arnold & Porter Kaye Scholer LLP, on Friday, June 7, 2019 Tags: Banks, Deutsche Bank, DOJ, Financial institutions, Financial regulation, LIBOR, Securities enforcement, U.S. federal courts Board Development and Director Succession Planning in the Age of Shareholder Activism, Engagement and Stewardship Posted […]
Click here to read the complete postStakeholder Capitalism for Long-Term Value Creation
Boards can strengthen their oversight role by guiding management to focus on the long-term, understand stakeholder objectives and communicate the many ways their companies create value. Transformation of business, society and governments has accelerated over the last decade. Disruption, especially in business, is an increasing challenge for governments, society and companies to navigate and manage. […]
Click here to read the complete post
Posted in Accounting & Disclosure, Boards of Directors, Institutional Investors, Practitioner Publications
Tagged Boards of Directors, Disclosure, Environmental disclosure, ESG, Human capital, Institutional Investors, Risk assessment, Risk management, Securities regulation, Shareholder value, Short-termism, Stakeholders, Sustainability
Comments Off on Stakeholder Capitalism for Long-Term Value Creation
Should Retail Investors’ Leverage Be Limited?
Financial markets feature considerable speculative trading that can harm uninformed investors. Consequently, financial market regulators have long grappled with how to prevent investors from making harmful speculative trades, while preserving markets for useful trades. Leverage is a major catalyst for speculative trading. Our article examines the impact of leverage limits on the retail foreign exchange […]
Click here to read the complete post
Posted in Academic Research, Empirical Research, International Corporate Governance & Regulation, Securities Regulation
Tagged Capital markets, CFTC, Dodd-Frank Act, International governance, Investor protection, Leverage, Liquidity, Market conditions, Retail investors, Risk-taking, Securities regulation, Stock returns
Comments Off on Should Retail Investors’ Leverage Be Limited?
Sometimes Silence is Golden: “Dell Compliance” Following Aruba III
The frequently discussed but generally unwritten story underlying the three judicial opinions in Verition Partners v. Aruba Networks involves a dispute between two luminaries of the Delaware Corporate Law—Vice Chancellor Travis Laster and Chief Justice Leo Strine. The story goes that Vice Chancellor Laster, fuming over his “rebuke” in Dell, a decision not written but generally […]
Click here to read the complete post
Posted in Court Cases, Mergers & Acquisitions, Practitioner Publications, Securities Litigation & Enforcement
Tagged Appraisal rights, Delaware cases, Delaware law, Fair values, Fairness review, In re Appraisal of Dell, Merger litigation, Mergers & acquisitions, Securities litigation, Securities regulation
Comments Off on Sometimes Silence is Golden: “Dell Compliance” Following Aruba III