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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
May 2011 Dodd-Frank Rulemaking Progress Report
This posting, the Davis Polk Dodd-Frank Rulemaking Progress Report, is the second in a new series of Davis Polk presentations that illustrate graphically the progress of the rulemaking work that has been done and is yet to occur under the Dodd-Frank Act. The Progress Report has been prepared using data from the Davis Polk Regulatory […]
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Posted in Financial Regulation, Legislative & Regulatory Developments, Practitioner Publications, Securities Regulation
Tagged CFTC, Dodd-Frank Act, Financial regulation, SEC
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New Challenges and Strategies for Designating Delaware as Jurisdiction for Corporate Disputes
Since the Delaware Chancery Court’s opinion in In re Revlon, Inc. Shareholders Litig., [1] where Vice Chancellor Laster endorsed a Delaware entity’s right to mandate in its governance documents a chosen forum for the resolution of intra-corporate disputes, numerous boards of public companies have determined that such a provision is in the best interests of […]
Click here to read the complete postCan Firms Build Capital-Market Reputation to Substitute for Poor Investor Protection?
In the paper, Can Firms Build Capital-Market Reputation to Substitute for Poor Investor Protection? Evidence from Dividend Policies, which was recently made publicly available on SSRN, we provide empirical evidence of one particular commitment mechanism that firms use to establish a reputation for good treatment of shareholders. Specifically, we show that in countries where legal […]
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Posted in Academic Research, Banking & Financial Institutions, Financial Regulation, International Corporate Governance & Regulation
Tagged Capital markets, Dividends, External financing, Investor protection, Reputation
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Harvard Convenes the M&A Roundtable
The Harvard Law School Program on Corporate Governance will convene its M&A roundtable later this week. The M&A Roundtable, which is supported by the Corporation Service Company, will bring together leading M&A experts, including from the judiciary, legal practice, investment banking and the investor community. The Roundtable will discuss current issues at the forefront of […]
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Posted in Mergers & Acquisitions, Program News & Events
Tagged Program on Corporate Governance
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Firm Mortality and Natal Financial Care
In the paper, Firm Mortality and Natal Financial Care, which was recently made publicly available on SSRN, we ask three related questions about the survival of U.S. public firms in the 1985 to 2006 period. First, what is their death rate as a function of age after their initial public offerings (IPOs)? Second, do financial […]
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Posted in Academic Research, Empirical Research, Private Equity
Tagged IPOs, Public firms, Venture capital firms
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An Update on Diversity and Financial Literacy
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 at the Hispanic Association on Corporate Responsibility’s Corporate Directors Summit; the complete remarks are available here. The views expressed in the post are those of Commissioner Aguilar and do not necessarily reflect […]
Click here to read the complete postPrivate Equity and the Resolution of Financial Distress
In the paper, Private Equity and the Resolution of Financial Distress, which was recently made publicly available on SSRN, we examine how private equity owners influence the outcome of distressed restructurings and the costs of financial distress. The impact of PE ownership on the likelihood or severity of distress is unclear. There are several reasons […]
Click here to read the complete postDerivatives Market’s Payment Priorities in Bankruptcy
Stanford Law Review recently published my article, The Derivatives Market’s Payment Priorities as Financial Crisis Accelerator, in which I analyze the Bankruptcy Code’s role in undermining the stability of systemically-vital financial institutions. Chapter 11 bars bankrupt debtors from immediately repaying their creditors, so that the bankrupt firm can reorganize without creditors’ cash demands shredding the […]
Click here to read the complete postRisk and Incentive: An Event Study Approach
In the paper, Risk and Incentive: An Event Study Approach, which was recently made publicly available on SSRN, we take an event study approach to reexamine the standard principal-agent model prediction with respect to executives who have likely experienced an exogenous risk shock. Existing empirical studies of the relationship between risk and incentives provide mixed […]
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Posted in Academic Research, Empirical Research, Executive Compensation
Tagged Contracts, Incentives, Optimal contracting, Pay for performance, Risk
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