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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
The Impact of Common Advisors on Mergers and Acquisitions
In our paper, The Impact of Common Advisors on Mergers and Acquisitions, which was recently made publicly available on SSRN, we examine the conflict of interest that an investment bank faces when advising both the target and acquirer in a merger or acquisition (M&A) by investigating how common advisors affect deal outcomes. When the New […]
Click here to read the complete postBebchuk Becomes President-Elect of the Western Economic Association International
In its recent annual meeting held in San Diego, the Western Economic Association International (WEAI) elected Professor Lucian Bebchuk to be its President-Elect during 2011-2012. Bebchuk is scheduled to serve as President of the WEAI during 2012-2013. Founded in 1922, WEAI is a non-profit, educational organization of economists, with 1,800 members around the world, dedicated […]
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Posted in Program News & Events
Tagged WEAI
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Derivatives and the Legal Origin of the 2008 Credit Crisis
In the paper Derivatives and the Legal Origin of the 2008 Credit Crisis (published in the inaugural issue of the Harvard Business Law Review), I argue that the credit crisis of 2008 can be traced first and foremost to a little-known statute Congress passed in 2000 called the Commodities Futures Modernization Act (CFMA). In particular, […]
Click here to read the complete postIntellectual Capital, Corporate Governance, and Firm Value
Previous empirical studies on the benefits of “good” governance perform comprehensive and detailed analyses of corporate governance structures and regulations, but make no reference to the board’s intellectual capital, or knowledge, thereby substantially limiting the understanding of the role of corporate governance in organizational value creation. In the paper, Intellectual Capital, Corporate Governance, and Firm […]
Click here to read the complete postAn Introduction to the US Cleared Swap Infrastructure
Introduction In September 2009, the leaders of the G-20 stated that “All standardized OTC derivatives contracts should be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties by end-2012 at the latest.” In the United States, legislation to give effect to this statement was a central pillar of the over-the-counter […]
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Posted in Legislative & Regulatory Developments, Practitioner Publications, Securities Regulation
Tagged Dodd-Frank Act, Futures, OTC derivatives, Swaps
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SEC Enforcement Actions Against Outside Directors Offer Reminder for Boards
In recent months, the U.S. Securities and Exchange Commission has brought two enforcement actions against independent directors of two publicly traded companies. While the commission historically has not pursued public company directors, it does so when it deems the directors to have knowingly permitted or facilitated violations of the securities laws. This report discusses these […]
Click here to read the complete postThe Volcker Rule and Evolving Financial Markets
In the paper, The Volcker Rule and Evolving Financial Markets, published in the inaugural issue of the Harvard Business Law Review, I question the effectiveness of the Volcker Rule in light of change in the financial markets over the last thirty years. The Volcker Rule largely prohibits proprietary trading by banking entities—in effect, reintroducing to […]
Click here to read the complete postSEC Adopts Rule on Beneficial Ownership of Security-Based Swaps
The SEC has readopted portions of Rules 13d-3 and 16a-1 to ensure that its current beneficial ownership definition, which applies for purposes of disclosure and short-swing profit rules, will continue in effect with respect to persons who purchase or sell security-based swaps (“SBS”) on and after July 16, 2011. SBS include products such as credit […]
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Posted in Legislative & Regulatory Developments, Practitioner Publications, Securities Regulation
Tagged Credit default swaps, Dodd-Frank Act, Rule 13d-3, Rule 16a-1, SEC, Swaps
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The Re-Introduction of the Shareholder Protection Act
Editor’s Note: Lucian A. Bebchuk is Professor of Law, Economics, and Finance at Harvard Law School. Robert J. Jackson, Jr. is Associate Professor of Law at Columbia Law School. Their paper, “Corporate Political Speech: Who Decides?”, is available here, and a previous Forum post discussing the paper is available here. Several prominent members of the […]
Click here to read the complete postWhat Should Be Done About the Private Money Market?
What should be done about the private money market? It is widely recognized that this market was at the center of the recent financial crisis. Indeed, very nearly the entire emergency response to the financial crisis was aimed at stabilizing this market. Yet recent and proposed reform measures have done little to address this market […]
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