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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
Which Skills Matter in the Market for CEOs?
In the paper, Which Skills Matter in the Market for CEOs? Evidence from Pay for CEO Credentials, which was recently made publicly available on SSRN, we show that boards’ compensation decisions reward several reputational, career, and educational credentials of CEOs using a panel of S&P 1,500 firms between 1993 and 2005. Our study is motivated […]
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Posted in Academic Research, Executive Compensation
Tagged Executive Compensation, Labor markets
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Insider Trading Developments — Summer 2012
While the insider trading conviction of Rajat Gupta and SEC settlement with Hall of Fame baseball player Eddie Murray attracted headlines — and the 12-year prison sentence imposed earlier this summer on former corporate attorney Matthew Kluger set a new standard for criminal insider trading penalties — there have been several other legislative, regulatory and […]
Click here to read the complete postEarnings Quality: Evidence from the Field
In the paper, Earnings Quality: Evidence from the Field, which was recently made publicly available on SSRN, we provide insights about earnings quality from a new data source: a large survey and a dozen interviews with top financial executives, primarily Chief Financial Officers (CFOs). Why CFOs? While it is clear that there are important consumers […]
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Posted in Academic Research, Accounting & Disclosure
Tagged Accounting, CFOs, Earnings management
2 Comments
Financial Stability Through Properly Aligned Incentives
Editor’s Note: Thomas M. Hoenig is director of the Federal Deposit Insurance Corporation. This post is based on Director Hoenig’s recent remarks before the Exchequer Club, Washington D.C. Introduction In 2011, with significant input from others at the Federal Reserve Bank of Kansas City, I proposed that the U.S. financial system be restructured by business […]
Click here to read the complete postHow French Law Has Failed to Adapt to the Evolution of the Economy and Finance
In the paper, The Legal System and the Development of Alternative Methods of Financing to Bank Credit… Or How French Law Has Failed to Adapt to the Evolution of the Economy and Finance, which was recently made publicly available on SSRN, I evaluate the French legal system following the strengthening of the “Basel III” prudential […]
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Posted in Academic Research, Banking & Financial Institutions, Financial Regulation
Tagged Banks, Basel Committee, EU, Financial institutions, Financial reform, France
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Derivatives Trading and Negative Voting
Securities regulators, practitioners, and legal commentators worry that derivatives may provide shareholders and creditors incentives to destroy value in their corporation (references here). The basic concern is that if shareholders or creditors own a sufficient amount of off-setting derivatives such as put options or credit default swaps (CDS), any losses on their shares or debt […]
Click here to read the complete postA Spatial Representation of Delaware-Washington Interaction in Corporate Lawmaking
Last month, the Columbia Business Law Review published “A Spatial Representation of Delaware-Washington Interaction in Corporate Lawmaking.” In this brief paper, I examine interaction between Delaware and Washington in corporate lawmaking, focusing on the shareholder access initiatives in each jurisdiction. The paper uses a straight-forward spatial model of the state-federal interaction, paralleling spatial models that […]
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Posted in Academic Research, Corporate Elections & Voting, HLS Research, Legislative & Regulatory Developments
Tagged Delaware law, Delaware legislation, Federalism, Jurisdiction, Shareholder voting, State law
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Working to Achieve the American Dream
Editor’s Note: Luis A. Aguilar is a Commissioner at the U.S. Securities and Exchange Commission. This post is based on Commissioner Aguilar’s remarks to the Hispanic Bar Association of the District of Columbia (HBA-DC). The views expressed in this post are those of Commissioner Aguilar and do not necessarily reflect those of the Securities and […]
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Posted in Corporate Social Responsibility, Speeches & Testimony
Tagged Diversity, Investor protection, SEC
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PCAOB: Protecting Investors and the Public Interest
Editor’s Note: The following post comes to us from Jeanette M. Franzel, board member of the Public Company Accounting Oversight Board. This post is based on Ms. Franzel’s keynote address at the American Law Institute-Continuing Legal Education Group (ALI-CLE) conference on accountant’s liability. The views expressed in this post are those of Ms. Franzel and […]
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Posted in Accounting & Disclosure, International Corporate Governance & Regulation, Speeches & Testimony
Tagged Audits, Broker-dealers, Financial reporting, International governance, Investor protection, PCAOB, Public firms, Public interest
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