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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
Rethinking Basic
Next spring, in the Halliburton case, the United States Supreme Court is expected to reconsider the Basic ruling that, twenty-five years ago, adopted the fraud-on-the-market theory and has since facilitated securities class action litigation. In a Harvard Law and Economics Discussion Paper that we recently issued, Rethinking Basic, we seek to contribute to the expected […]
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Posted in Academic Research, Court Cases, HLS Research, Securities Litigation & Enforcement
Tagged Basic, Fraud-on-the-Market, Halliburton, Securities litigation
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2013 Private Equity Year in Review
Private equity deal activity ebbed and flowed, often unexpectedly, in 2013. Despite some slow periods, strong debt and equity markets helped support first nine-months numbers that are well ahead of 2012, although Q4 2013 is unlikely to match Q4 2012, where activity was stimulated by anticipated changes in the tax laws. Successful sponsors again demonstrated […]
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Posted in Mergers & Acquisitions, Practitioner Publications, Private Equity
Tagged Equity capital, Private equity
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SIFIs and States
Today an enormous global civilization rests upon a jury-rigged financial frame rife with moral hazards, perverse incentives, and unintended consequences. This article, SIFIs and States, forthcoming in the Texas International Law Journal, addresses one aspect of that fragile structure. It argues for basic reform in the international management of financial institutions in distress, with a special […]
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Posted in Academic Research, Banking & Financial Institutions, Financial Crisis, International Corporate Governance & Regulation
Tagged Bailouts, Banks, Financial crisis, Financial institutions, Foreign banks, International governance, Jurisdiction, SIFIs, Systemic risk
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Promoting Investor Protection in Small Business Capital Formation
Today [Dec. 18, 2013], the Commission proposes rules to implement Title IV of the JOBS Act. As mandated by that Act, the proposed rule would allow companies to issue a class of securities that are exempted from the registration and prospectus requirements of the Securities Act, provided that certain conditions are met. This is the […]
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Posted in Practitioner Publications, Regulators Materials, Speeches & Testimony
Tagged Capital formation, Exchange Act, Investor protection, JOBS Act, SEC, SEC rulemaking, Securities regulation, Small firms
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Fed Outlines Proposals to Limit Short-Term Wholesale Funding Risks
On November 22, 2013, Federal Reserve Board Governor Daniel Tarullo delivered a speech at the Americans for Financial Reform and Economic Policy Institute outlining a potential regulatory initiative to limit short-term wholesale funding risks. [1] This proposal could increase capital requirements for and apply additional prudential standards to firms dependent on short-term funding, with a […]
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Posted in Financial Regulation, Practitioner Publications
Tagged Capital requirements, Federal Reserve, Financial regulation, Liquidity, Securities lending, Shadow banking, Short sales, Surcharges, Systemic risk
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Delaware vs. New York Governing Law
Among the many legalese-heavy paragraphs appearing under the “Miscellaneous” heading at the back of transaction agreements is a section that stipulates the laws of the state that will govern the purchase agreement as well as disputes relating to the deal. Often, it is coupled with a section that dictates which courts have jurisdiction over these […]
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Posted in Comparative Corporate Governance & Regulation, Mergers & Acquisitions, Practitioner Publications
Tagged Delaware law, Forum selection, Jurisdiction, Merger litigation, New York
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Top 10 Topics for Directors in 2014
U.S. public companies face a host of challenges as they enter 2014. Here is our list of hot topics for the boardroom in the coming year: 1. Oversee strategic planning amid continuing fiscal uncertainty and game-changing advances in information technology 2. Address cybersecurity 3. Set appropriate executive compensation as shareholders increasingly focus on pay for […]
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In our paper, Are Red or Blue Companies More Likely to Go Green? Politics and Corporate Social Responsibility, forthcoming in the Journal of Financial Economics, we test the hypothesis that Democratic-leaning firms (i.e., firms with a higher proportion of Democratic stakeholders) are associated with more socially responsible policies than Republican-leaning firms. Our results can be […]
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Posted in Academic Research, Corporate Social Responsibility
Tagged Corporate Social Responsibility, Environmental disclosure, Human rights, Political spending
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The Corporate Social Responsibility Report and Effective Stakeholder Engagement
Companies today are being called upon by their shareholders and other stakeholders to not only boost the bottom line, but also to help address some of the country’s most challenging problems, including those concerning economic development and the environment. While opinions differ on how responsibility should be allocated across the public and private sectors, corporate […]
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Posted in Accounting & Disclosure, Corporate Social Responsibility, Practitioner Publications
Tagged Climate change, Compliance & ethics, Corporate Social Responsibility, Environmental disclosure, Shareholder communications, Sustainability
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