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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
Where Have All the IPOs Gone?
During 1980-2000, an average of 311 companies per year went public in the U.S. Since the technology bubble burst in 2000, the average has been only 102 initial public offerings (IPOs) per year, with the drop especially precipitous among small firms. Many have blamed the Sarbanes-Oxley Act of 2002 and the 2003 Global Settlement’s effects […]
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Posted in Academic Research, Empirical Research, Securities Regulation
Tagged IPOs, Private firms, Public firms, Small firms
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Bridging the Pay Divide
Introduction Investors have for a number of years expressed concerns over pay disparities between that of the chief executive officer and the next highest paid executive at U.S. corporations. The State of Connecticut pension system gave voice in 2008 to these concerns by filing shareholder proposals calling for enhanced disclosure of how internal pay equity […]
Click here to read the complete postForward-Looking Statements – Deal Market Trends for 2012
Editor’s Note: David Fox is a partner at Kirkland & Ellis LLP, focusing on complex mergers and acquisitions as a member of the firm’s Corporate Group. This post is based on a Kirkland & Ellis M&A Update. With the M&A market recovery losing steam in the second half of 2011, dealmakers are faced with increased […]
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Posted in Accounting & Disclosure, Court Cases, Legislative & Regulatory Developments, Mergers & Acquisitions
Tagged Antitrust, Disclosure, Dodd-Frank Act, Forum selection, NOLs, Omnicare v. NCS Healthcare, Proxy access, Schedule 13D, Staggered boards
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The 2011 Corporate Contributions Report
The 2011 Corporate Contributions Report, which was recently released by The Conference Board, discusses findings from a survey of 139 U.S.–based corporations conducted between April and July 2011. Participants in the survey (chief financial officers, corporate sustainability officers, heads of public affairs) were asked to provide information on the domestic and international (cash and non-cash) […]
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Posted in Academic Research, Boards of Directors, Corporate Social Responsibility
Tagged Charitable spending, Corporate Social Responsibility, Nonprofits, Surveys, The Conference Board
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Reputation Penalties for Option Backdating and the Role of Proxy Advisors
In the paper Reputation Penalties for Poor Monitoring of Executive Pay: Evidence from Option Backdating, forthcoming at the Journal of Financial Economics, my co-authors (Yonca Ertimur of Duke University and David Maber of the University of Southern California) and I examine whether directors are held accountable for poor monitoring of executive compensation. Theoretical and empirical […]
Click here to read the complete postLooking at the Effects of Securities Deregulation
Editor’s Note: John Coates is the John F. Cogan, Jr. Professor of Law and Economics at Harvard Law School. This post discusses Professor Coates’ testimony before the Subcommittee on Securities, Insurance, and Investment of the United States Senate Committee on Banking, Housing, and Urban Affairs, available in full here. Amid an economic downturn caused in […]
Click here to read the complete postEurope Restricts “Naked” Credit Default Swaps and Short Sales
On November 15, 2011, the European Parliament adopted a regulation banning any person or legal entity in the European Union (“EU entities”) from entering into “naked,” or uncovered, credit default swaps (“CDS”) on sovereign debt and restricting uncovered short sales on shares and sovereign debt (the “Regulation”) after November 1, 2012. [1] The Regulation also […]
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Posted in Banking & Financial Institutions, International Corporate Governance & Regulation, Practitioner Publications, Securities Regulation
Tagged Credit default swaps, Europe, European Commission, Short sales, Sovereign debt
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Economic Analysis in ERISA Litigation over Fiduciary Duties
In the past decade, numerous lawsuits have been brought under ERISA against the fiduciaries and sponsors of 401(k) and other defined contribution retirement plans. Many of these lawsuits have been pled as class actions on behalf of all or many participants of the plan. The most common lawsuits have involved declines in the value of […]
Click here to read the complete postFederal Reserve Proposes Enhanced Prudential Standards and Early Remediation Requirements
The Federal Reserve has released proposed rules to implement the enhanced supervisory and prudential requirements in Sections 165 and 166 of the Dodd-Frank Act. These proposed rules represent the Federal Reserve’s primary effort, one and a half years after the enactment of Dodd-Frank, to put in place prudential standards that will govern the largest bank […]
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Posted in Banking & Financial Institutions, Financial Crisis, Financial Regulation, Practitioner Publications
Tagged Banks, Dodd-Frank Act, Federal Reserve, Financial reform, Risk oversight, Systemic risk
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