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HLS Faculty & Senior Fellows
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
Stress Testing: A Look Into the Fed’s Black Box
On March 26th, the Federal Reserve (Fed) announced the results of its annual Comprehensive Capital Analysis and Review (CCAR). [1] This year the Fed assessed the capital plans of 30 bank holding companies (BHCs)—12 more than last year—and objected to five plans (four due to deficiencies in the quality of capital planning process, and one […]
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Posted in Banking & Financial Institutions, Financial Regulation, Practitioner Publications
Tagged Banks, Capital requirements, Federal Reserve, Financial regulation, Stress tests
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What Will Result From the SEC’s Current Disclosure Reform Initiative?
The SEC is in the midst of what could be a sweeping reform of its disclosure regime. During the course of this year, the SEC’s Division of Corporation Finance, or Corp Fin, will be seeking broad input from companies and investors on how the SEC can improve its disclosure rules. This initiative follows on Corp […]
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Posted in Accounting & Disclosure, Corporate Social Responsibility, Practitioner Publications, Securities Litigation & Enforcement
Tagged Climate change, Corporate Social Responsibility, Disclosure, Environmental disclosure, Regulation S-K, SEC, SEC rulemaking, Securities regulation, Sustainability
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Investors Buying Stock in NFL Player through First Fantex IPO
On April 28, 2014, shares of Fantex, Inc. (Fantex), which are linked to the performance and earnings of Vernon Davis, star tight end of the San Francisco 49ers, were sold to the public. Other professional football players for whom Fantex has filed initial public offering (IPO) registration statements include quarterback EJ Manuel of the Buffalo […]
Click here to read the complete postThe PCAOB Proposed Auditor’s Reporting Model
The proposed enhancements to the auditor’s reporting model would be the first change to the standards in more than 70 years. Furthermore, they could significantly impact the content and format of auditors’ reports; the treatment of that information by investors and other users of financial statements; and the relationship and structure of interactions among management, […]
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Posted in Accounting & Disclosure, Practitioner Publications, Speeches & Testimony
Tagged Accounting, Accounting standards, Audits, Disclosure, External auditors, Financial reporting, PCAOB
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Do Freezeouts Affect the Performance of the Controlling Shareholder?
Some works in the literature on mergers and acquisitions suggest that mergers do not generate any efficiency for the acquirer and that, in fact, they have a negative effect on operating performance. This work examines whether freezeouts (that is, transactions in which a controlling shareholder acquires the remaining shares of a corporation for cash or […]
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Posted in Academic Research, Empirical Research, Mergers & Acquisitions
Tagged Controlling shareholders, Efficiency, Firm performance, Freezeouts, Takeovers
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Shareholder Value Enhanced Through Sufficient Time to Generate Alternative Transaction
On April 2, 2014, Osisko Mining Corporation announced a superior alternative to Goldcorp Inc.’s unsolicited offer for Osisko in the form of a partnership with Yamana Gold Inc. resulting in Osisko’s shareholders receiving cash and share consideration with an implied value representing a 22% premium to Goldcorp’s offer. This transaction was announced 79 days after […]
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Posted in International Corporate Governance & Regulation, Mergers & Acquisitions, Practitioner Publications
Tagged Canada, Davies, International governance, Poison pills, Shareholder rights, Takeover defenses, Takeovers, Target firms, Tender offer
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Bebchuk and Coates Articles Selected Among the Top Ten Corporate and Securities Articles of 2013
This year’s list of the Ten Best Corporate and Securities Articles, selected by an annual poll of corporate and securities law academics, includes two selections from Harvard Law faculty associated with the Program on Corporate Governance: Professor Lucian Bebchuk and Professor John Coates. The top ten articles were selected from a field of 550 pieces. […]
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