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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
Four ESG Myths About Emerging-Market Corporates
As one of the fastest-growing bond sectors, emerging-market (EM) corporate debt has become too big to ignore. With US$2.7 trillion outstanding across more than 600 companies, it’s now larger than the entire EM sovereign sector and is equal to the US-dollar and euro high-yield markets combined. For bond investors who’ve had a tough time finding […]
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Posted in ESG, Institutional Investors, International Corporate Governance & Regulation, Practitioner Publications
Tagged Boards of Directors, Climate change, Disclosure, Emerging markets, ESG, Institutional Investors, International governance, Sustainability
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Vanguard’s Expectations for Companies with Significant Coal Exposure
Vanguard has explained its concerns about climate change and the financial risk it presents to long- term investors. We have outlined expectations for companies where climate change is a material risk: They should have climate-competent boards, robust climate risk oversight and mitigation measures, and effective climate risk disclosure. In this post, we focus on the […]
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Posted in Accounting & Disclosure, Boards of Directors, ESG, Institutional Investors, Practitioner Publications
Tagged Boards of Directors, Climate change, Environmental disclosure, ESG, Index funds, Institutional Investors, Risk management, Say on climate, Stewardship, Sustainability
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Insider Giving
Would any of us refuse a gift? We typically do not, unless of course the gift resembles a Trojan Horse. In this blog, we hope to convince you that even if you do not refuse it, you should treat a gift from insiders with upmost care. The problem is that previous studies have shown that […]
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Posted in Academic Research, Accounting & Disclosure, Empirical Research
Tagged Charitable spending, Information asymmetries, Inside information, Insider trading, Misconduct, SEC enforcement, Securities enforcement, Securities fraud, Securities regulation
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Weekly Roundup: December 31, 2021–January 6, 2022
Proxy Advisors Update Voting Guidelines for 2022 Posted by David Bell, Dean Kristy, and Ron Llewellyn, Fenwick & West LLP, on Friday, December 31, 2021 Tags: Board composition, Boards of Directors, Climate change, Diversity, ESG, Glass Lewis, Institutional Shareholder Services Inc., Proxy advisors, Proxy voting, Say on climate, Shareholder voting, SPACs SEC’s Focus on Advisory Fees—Implications for Private Fund Managers Posted by Brian T. Daly, Jason M. Daniel, and […]
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Posted in Weekly Roundup
Tagged Weekly Roundup
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The Mainstreaming of ESG Investing Through Policymaking
ESG, Sustainable Finance, Green Investments—some of the biggest buzz words in finance the last years. What used to be a niche topic has now taken centre stage. Investors’ almost insatiable appetite and legislative innovation will keep it there for quite some time to come. Staying on top of local developments is not enough, reading the […]
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Posted in ESG, Institutional Investors, International Corporate Governance & Regulation
Tagged Climate change, ESG, EU, Institutional Investors, International governance, South Africa, Sustainability
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Interested Voting
Despite the ever-growing influence of institutional investors and shareholders generally in corporate governance, interested voting is not fully explored. While corporate law is indisputably attentive to transactions with a controlling shareholder, such transactions hardly cover all instances in which an interested shareholder may harm the corporation by casting a pivotal vote determining the outcome of […]
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Posted in Academic Research, Corporate Elections & Voting, Mergers & Acquisitions, Securities Litigation & Enforcement
Tagged Conflicts of interest, Controlling shareholders, Corwin, Institutional Investors, Merger litigation, Mergers & acquisitions, Shareholder voting
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ISS Releases Benchmark Policy Updates for 2022
This week, ISS issued its benchmark policy updates for 2022. The policy changes will apply to shareholder meetings held on or after February 1, 2022. The key changes for U.S. companies relate to say-on-climate proposals, board diversity, board accountability for climate disclosure by high GHG emitters, board accountability for unequal voting rights and shareholder proposals […]
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Posted in Boards of Directors, Corporate Elections & Voting, ESG, Institutional Investors, Practitioner Publications
Tagged Boards of Directors, Climate change, Diversity, Dual-class stock, ESG, Institutional Investors, Institutional Shareholder Services Inc., Proxy advisors, Say on climate, Shareholder voting, Sustainability
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Enforcement Again Brings Charges for Failure to Disclose Perks
Failure to disclose executive perks continues to be a flashing target for SEC Enforcement. Just last year, there were two actions against companies for disclosure failures regarding perks—Hilton Worldwide Holdings Inc. (see this PubCo post) and Argo Group International Holdings, Ltd. (see this PubCo post). And earlier this year, Enforcement brought settled charges against Gulfport […]
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Posted in Executive Compensation, Practitioner Publications, Securities Litigation & Enforcement
Tagged Books and records, Compensation disclosure, Executive Compensation, Regulation S-K, SEC, SEC enforcement, Securities enforcement, Securities fraud
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Board Responsibility for Artificial Intelligence Oversight
Artificial Intelligence (AI) is quickly taking over. But not in the robot-coup type of scenario that inspires multimillion dollar box office hits. Rather, AI protects our credit cards from fraudulent activity, helps employers to hire and maintain a remote workforce during a global pandemic, and enables doctors to deliver care to patients thousands of miles […]
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Posted in Academic Research, Banking & Financial Institutions, Financial Regulation
Tagged Algorithmic trading, Artificial intelligence, Cybersecurity, ESG, Financial regulation, Financial technology, Privacy, Systemic risk
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