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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 2011 Survey of Board Practices
The Conference Board, NASDAQ OMX and NYSE Euronext announced last week a research collaboration to document the state of corporate governance practices among publicly listed corporations in the United States. The centerpiece of the collaboration is The 2011 Board Practice Survey, which the three organizations are disseminating to their respective memberships. Findings will constitute the […]
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Posted in Comparative Corporate Governance & Regulation, Practitioner Publications
Tagged Boards of Directors, General counsel, General governance, Surveys, The Conference Board
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The Effect of Short-term Liquidity and Capacity Constraints on Industry Cooperation
A central theme in industrial organization is product market cooperation and price collusion, yet there is little empirical work in the area. In our paper, The Effect of Short-term Liquidity and Capacity Constraints on Industry Cooperation, which was recently made publicly available on SSRN, we attempt to bridge this gap. Using a novel dataset on […]
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Posted in Academic Research, Accounting & Disclosure, Empirical Research
Tagged Antitrust, Collusion, Liquidity
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Improving Multi-Jurisdictional, Merger-Related Litigation
In the past two years, the court system has seen a sharp increase in the volume of merger-related class-action lawsuits, particularly (but by no means exclusively) in the Delaware Court of Chancery. See John W. Molka III, Advisen Ltd., Securities Suits Abound in a Harsh 2009: An Advisen Quarterly Report—2009 Review 9–10; John W. Moka […]
Click here to read the complete postA 12-Step Program to Truly Good Corporate Governance
Good corporate governance is of the moment. It is talked and written about constantly by academics, the corporate governance community working for institutional investors and proxy advisors, boards of directors, corporate executives, corporate lawyers, judges, reporters and, yes, even politicians. Indeed, it is talked about and written about so often and at such length that […]
Click here to read the complete postWhy and How to Design a Contingent Convertible Debt Requirement
In our paper, Why and How to Design a Contingent Convertible Debt Requirement, which was recently made publicly available on SSRN, we develop a proposal for a contingent capital (CoCo) requirement. We show that CoCos can play a unique role alongside a standard minimum book value of equity ratio requirement. If properly designed, a CoCo […]
Click here to read the complete postThe New Face of M&A: How a Trillion Dollars Will Change the Strategic Landscape
1. The Trillion Dollar Question How would a trillion dollars affect the strategic M&A landscape? By now, virtually everybody who reads the financial press is aware that corporate cash balances are massive. In fact, the largest U.S. firms collectively have in excess of $1 trillion on their balance sheets. These firms have accumulated liquidity during […]
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Posted in Accounting & Disclosure, Banking & Financial Institutions, Mergers & Acquisitions, Practitioner Publications
Tagged Cash reserves, Financing conditions, Growth rates, JPMorgan, Leverage, Liquidity
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SEC Strengthens Shareholders’ Role In Corporate Political Speech Decisions
The Supreme Court’s recent decision in Citizens United v. FEC makes clear that corporations have considerable freedom to spend corporate funds on elections. In an article published in the Harvard Law Review last November, Lucian Bebchuk and I argued that, in the wake of Citizens United, lawmakers should reconsider the corporate-law rules governing who decides […]
Click here to read the complete postCorporate Aid to Japan
The recent crisis in Japan has resulted in an outpouring of support from citizens and corporations around the world. Numerous relief programs have been established to provide conduits for distributing the money, goods and services that the people of Japan will need to survive and recover from these natural disasters. The Conference Board has conducted […]
Click here to read the complete postOne Dollar CEO Salaries
In our paper, One Dollar CEO Salaries: An Empirical Examination of the Determinants and Consequences, which was recently made publicly available on SSRN, we examine a sample of 278 CEO-firm-years (87 firms and 88 CEOs) between 1995 and 2009 where the CEO’s salary is $1. First, we analyze the determinants of a firm’s (or CEO’s) […]
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Posted in Academic Research, Empirical Research, Executive Compensation
Tagged Executive Compensation, Firm performance, Public perception
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