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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
- 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 Strategies of Anticompetitive Common Ownership
Institutional investors, such as large mutual funds, often own significant stakes in competing firms. Antitrust theorists have long suggested that common concentrated owners (“CCOs”) have interests that differ from those of owners of a single competing firm and might be able to induce firms in which they hold a stake to further these interests. Recently, […]
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Posted in Academic Research, Empirical Research, Institutional Investors
Tagged Antitrust, Asset management, Common ownership, Index funds, Institutional Investors, Mutual funds, Ownership
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Equity Market Structure 2019: Looking Back & Moving Forward
Chairman Clayton: Thank you, Dean Rapaccioli, for your kind introduction and for the invitation to Director Redfearn and me to speak about equity market structure. I’m delighted that my good friend Craig Phillips was able to take time to be here and lay the groundwork for our speech. Groundwork is the right word; and it […]
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Posted in Practitioner Publications, Regulators Materials, Securities Litigation & Enforcement, Securities Regulation, Speeches & Testimony
Tagged Broker-dealers, Equity capital, Equity securities, Investor protection, Securities enforcement, Securities fraud, Securities regulation, Transparency
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The Labor Market for Directors and Externalities in Corporate Governance: Evidence from the International Labor Market
In our recent article titled The Labor Market for Directors and Externalities in Corporate Governance: Evidence from the International Labor Market, forthcoming in the Journal of Accounting and Economics, we examine how the potentially opposing forces created by country level aggregate governance impacts the ability of the labor market for outside directors to align the […]
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Posted in Academic Research, Boards of Directors, Empirical Research, International Corporate Governance & Regulation
Tagged Agency model, Board dynamics, Board turnover, Boards of Directors, Director qualifications, Incentives, International governance, Labor markets
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Letter on Stock Buybacks and Insiders’ Cashouts
Thank you for your December 18, 2018 letter regarding my research on the relationship between stock buybacks and corporate insiders’ stock cashouts—and for your leadership in urging the SEC to ensure that our rules protect investors when public companies buy back stock. I very much appreciate the opportunity to share further details on this work. […]
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Posted in Practitioner Publications, Regulators Materials, Securities Regulation
Tagged Executive Compensation, Incentives, Inside information, Insider trading, Investor protection, Repurchases, Securities regulation, Shareholder value
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As California Goes, So Goes the Nation? The Impact of Board Gender Quotas on Firm Performance and the Director Labor Market
Women are still heavily underrepresented in leadership positions in the U.S. corporate sector. According to the Corporate Women Directors International 2018 report, women hold 21.4% of director positions on the boards of the Fortune Global 200 companies. In As California Goes, So Goes the Nation? The Impact of Board Gender Quotas on Firm Performance and […]
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Posted in Academic Research, Boards of Directors, Comparative Corporate Governance & Regulation, Empirical Research
Tagged Board composition, Boards of Directors, California, Diversity, ESG, Firm performance, Firm valuation, Labor markets, State law
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Weekly Roundup: March 1-7, 2019
Appraisal Litigation in Delaware: Trends in Petitions and Opinions (2006-2018) Posted by David F. Marcus and Frank Schneider, Cornerstone Research, on Friday, March 1, 2019 Tags: Appraisal rights, Delaware cases, Delaware law, DGCL, DGCL Section 262, Fair values, Fairness review, Firm valuation, Merger litigation, Mergers & acquisitions Comment Letter Regarding Mandatory Arbitration Bylaw Proposal at Johnson & Johnson Posted by Jeff Mahoney, Council of Institutional Investors, […]
Click here to read the complete postTop 10 Sustainability Developments in 2018
Investor, regulatory, and corporate interest in environmental, social and governance (ESG) issues seems to be growing by leaps and bounds. If securities lawyers haven’t been springing to attention already, then the arrival of a New Year, and a new proxy season, is a good time to start. Here is a list of the top ten […]
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Posted in Accounting & Disclosure, Institutional Investors, International Corporate Governance & Regulation, Practitioner Publications
Tagged Accounting standards, Climate change, Disclosure, Environmental disclosure, ESG, Institutional Investors, International governance, Materiality, SASB, Sustainability
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