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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
Where’s the Greenium?
Environmental, Social, and Governance (ESG) measurement, Corporate Social Responsibility (CSR) activities, and Socially Responsible Investing (SRI) are increasingly important research topics in both academic and professional areas. A question of primary importance in this area is whether ESG investments have value to investors beyond the normal expected risk and return attributes of a security. For […]
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Posted in Academic Research, Accounting & Disclosure, Corporate Social Responsibility, Empirical Research
Tagged Bonds, Capital formation, Climate change, Corporate Social Responsibility, Environmental disclosure, ESG, Municipal securities, Sustainability
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Applying a Principles-Based Approach to Disclosing Complex, Uncertain and Evolving Risks
Good morning. Thank you, John [White] for that kind introduction and to the Practicing Law Institute and Allen & Overy for hosting this event. I am pleased to be here with you today. Today [March 15, 2019] I would like to discuss how the U.S. securities disclosure requirements, which are largely principles-based, apply in areas […]
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Posted in Accounting & Disclosure, International Corporate Governance & Regulation, Practitioner Publications, Securities Regulation, Speeches & Testimony
Tagged Board communication, Brexit, Climate change, Disclosure, Environmental disclosure, ESG, Information environment, International governance, Investor protection, Long-Term value, Materiality, Sustainability
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A Reminder About Corporate Crisis Communications
In a case that should serve as a cautionary tale for all public companies responding to a public relations crisis, the DOJ and SEC today announced securities fraud settlements with Lumber Liquidators Holdings, Inc., alleging that the company had made false and misleading statements in response to a damaging report about the company’s products aired on the “60 Minutes” […]
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Posted in Accounting & Disclosure, Practitioner Publications, Securities Litigation & Enforcement, Securities Regulation
Tagged Compliance and disclosure interpretation, Disclosure, DOJ, Reputation, Risk management, SEC, SEC enforcement, Securities enforcement, Securities fraud, Securities regulation, Settlements
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Do Firms Respond to Gender Pay Gap Transparency?
Gender pay disparities characterize labor markets in most developed countries. When a man earns 100 dollars, a woman earns 77 in the United States, 78.5 dollars in Germany, 79 dollars in the United Kingdom, and 83.8 on average across European Union countries according to Eurostat. Recent proposals across many countries focus on pay transparency to […]
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Posted in Academic Research, Accounting & Disclosure, Comparative Corporate Governance & Regulation, Empirical Research, International Corporate Governance & Regulation
Tagged Compensation disclosure, Compensation ratios, Compensation regulation, Denmark, Diversity, Inequality, International governance, Transparency
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Weekly Roundup: March 8-15, 2019
As California Goes, So Goes the Nation? The Impact of Board Gender Quotas on Firm Performance and the Director Labor Market Posted by Steven Davidoff Solomon (University of California, Berkeley), on Friday, March 8, 2019 Tags: Board composition, Boards of Directors, California, Diversity, ESG, Firm performance, Firm valuation, Labor markets, State law Letter on Stock Buybacks and Insiders’ Cashouts Posted by Robert J. Jackson, Jr., […]
Click here to read the complete postFarewell to Fairness: Towards Retiring Delaware’s Entire Fairness Review
The entire fairness doctrine occupies a central place in Delaware’s accountability tools for corporate directors. In a standard formulation, it calls on directors to establish “to the court’s satisfaction that the transaction was the product of both fair dealing and fair price” (Cinerama, Inc. v. Technicolor, Inc.). As Professor Lawrence Hamermesh and Chief Justice Leo […]
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Posted in Academic Research, Securities Litigation & Enforcement
Tagged Business judgment rule, Delaware articles, Delaware law, Fairness review, Fiduciary duties, Merger litigation, MFW, Securities litigation
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SEC Enforcement Against Self-Reporting Token Issuer
On February 20, the Securities and Exchange Commission (the “SEC” or “Commission”) issued a cease-and-desist order against Gladius Network LLC (“Gladius”) concerning its 2017 initial coin offering (“ICO”). The SEC found that the Gladius ICO violated the Securities Act of 1933’s (“Securities Act”) prohibition against the public offer or sale of any securities not made […]
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Posted in Practitioner Publications, Securities Litigation & Enforcement, Securities Regulation
Tagged Blockchain, Cryptocurrency, Financial technology, Howey test, ICOs, SEC, SEC enforcement, Securities enforcement, Securities regulation
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