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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
Are Two Heads Really Better Than One? Evidence from the Thrift Crisis
In the paper, Are Two Heads Really Better Than One? Evidence from the Thrift Crisis, which was recently made publicly available on SSRN, we provide the first explicit tests of whether unitary leadership protects the interests of taxpayers, who become the residual claimants when financial institutions exploit underpriced deposit insurance through more risky investment policies. […]
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Posted in Academic Research, Banking & Financial Institutions, Bankruptcy & Financial Distress, Empirical Research, Financial Crisis, Legislative & Regulatory Developments
Tagged Deposit insurance, Risk, Thrifts
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Enforceability and Effectiveness of Typical Shareholders Agreement Provisions
The Corporation Law Committee of the Association of the Bar of the City of New York prepared a report on The Enforceability and Effectiveness of Typical Shareholders Agreement Provisions, which was published in the August 2010 issue of The Business Lawyer. In this report, the Corporation Law Committee reviews provisions that are often contained in […]
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Posted in Boards of Directors, Corporate Elections & Voting, Practitioner Publications
Tagged Boards of Directors, Shareholders agreements
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CEO Turnover, CEO-Related Factors, and Innovation Performance
In the paper New Dogs New Tricks: CEO Turnover, CEO-Related Factors, and Innovation Performance, which was recently made publicly available on SSRN, we examine the association between CEO turnover and innovation performance in the sample period 1993-2005. We find strong empirical support for the notion that CEO turnover is associated with higher levels of innovation, […]
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Posted in Academic Research, Boards of Directors, Empirical Research
Tagged Executive turnover, Innovation, Patents
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HP Severance Case Raises Governance Concerns
On Aug. 6, 2010, Mark Hurd stepped down as chairman, president and chief executive officer of Hewlett-Packard Company. His resignation was at HP’s request. He was provided, among other things, a severance payment of approximately $12 million. Today’s column considers whether the severance payment, given the circumstances involved in Mr. Hurd’s departure, can be reconciled […]
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Posted in Court Cases, Executive Compensation, Practitioner Publications
Tagged Contracts, HP, Management contracts, Severance, Termination
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Earnings Quality and International IPO Underpricing
In the paper, Earnings Quality and International IPO Underpricing, forthcoming in The Accounting Review, we examine the impact of country-level earnings quality on IPO underpricing. When firms convert from private to public ownership through an initial public offering (IPO), they typically sell shares at a price that is below the market price that prevails once […]
Click here to read the complete postDon’t Divorce the GC and Compliance Officer
Editor’s Note: Ben W. Heineman, Jr. is a former GE senior vice president for law and public affairs and a senior fellow at Harvard University’s schools of law and government. This article originally appeared in Corporate Counsel magazine. The role of the chief compliance (and ethics) officer is currently a hot, if confused topic. What […]
Click here to read the complete postHow the Government Is Creating Another Housing Bubble
Editor’s Note: Peter J. Wallison is a senior fellow at the American Enterprise Institute. This post is based on an article by Mr. Wallison and Edward J. Pinto, a resident fellow at the AEI. It is hard to believe, but it looks like the government will soon use the taxpayers’ checkbook again to create a […]
Click here to read the complete postLitigation in Mergers and Acquisitions
Litigation is often triggered by the announcement of a merger or acquisition (M&A) proposal. Using hand-collected data, we document the types of suits triggered by M&A offers, the factors that influence whether offers are targeted by litigation, the impact of M&A lawsuits on offer outcomes (offer completion rates and takeover premium in completed deals), and […]
Click here to read the complete postCapital Structure and Debt Maturity Choices
In the paper, An International Comparison of Capital Structure and Debt Maturity Choices, forthcoming in the Journal of Financial and Quantitative Analysis, my co-authors (Joseph Fan and Garry Twite) and I examine the influence of institutional environment on capital structure and debt maturity choices by examining a cross-section of firms in 39 developed and developing […]
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Posted in Academic Research, International Corporate Governance & Regulation, Legislative & Regulatory Developments, Private Equity
Tagged Capital structure, Debt maturity, Leverage
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The 2010 Governance Stars
Global Proxy Watch, the international corporate governance newsletter just announced its annual selection of “governance stars” – the “10 people around the world who had the most impact on corporate governance in the previous year.” This year’s list includes Lucian Bebchuk, director of Harvard’s Program on Corporate Governance. In announcing its selection, Global Proxy noted […]
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Posted in Program News & Events
Tagged General governance, Global Proxy Watch, Program on Corporate Governance
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