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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
- Renata J. Ferrari
- Andrew Freedman
- Ray Garcia
- Joseph Hall
- Jason M. Halper William P. Mills
- David Millstone
- Theodore Mirvis
- Philip Richter
- Elina Tetelbaum
- Sebastian Tiller
- Marc Trevino
- Steven J. Williams
Author Archives: Harvard Law School Forum on Corporate Governance and Financial Regulation
Identifying Corporate Governance Effects: The Case of Universal Demand Laws
Index constructs and identifiers are regularly utilized in empirical corporate governance research. They are popular. The use of legal changes as plausibly exogenous sources of variation in the economic determinants of corporate governance is also common. State antitakeover laws, particularly business combination laws, are often used as exogenous identifiers to assess corporate governance effects. Despite […]
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Posted in Academic Research, Comparative Corporate Governance & Regulation, Empirical Research, Securities Litigation & Enforcement
Tagged Agency costs, Antitakeover, Entrenchment, Management, Securities litigation, State law, Takeover defenses
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ESG Trends and Expectations
Introduction Environmental, social and governance (ESG) considerations continued to play a key role in the first six months of 2022, with geopolitical circumstances resulting in a reexamination of a number of ESG beliefs. In our February 2022 post “ESG: 2021 Trends and Expectations for 2022,” we set out our predictions for 2022, some of which […]
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Posted in ESG, International Corporate Governance & Regulation, Practitioner Publications
Tagged Climate change, ESG, EU, International governance, Russia, Supreme Court, Sustainability, UK, Ukraine
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On Index Investing
The last two decades have seen a dramatic increase in the amount of capital invested in passive index funds. While these funds help investors earn benchmark index returns for relatively low fees, the increase in passive investing is not without controversy. Passive investors, by definition, hold portfolios that simply track an index. As a result, […]
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Posted in Academic Research, Empirical Research, Institutional Investors
Tagged Arbitrage, Asset management, Index funds, Information environment, Institutional Investors, Market efficiency
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PE Firms Poised for Diversity Drive
Diversity has become a key focus for every industry in recent years, and private equity, like many other parts of the financial sector, still has significant progress to make in terms of diversity and inclusion. Private equity lags behind others in the financial services industry across a range of diversity metrics—according to a report published […]
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Posted in ESG, Institutional Investors, International Corporate Governance & Regulation, Practitioner Publications, Private Equity
Tagged Diversity, ESG, EU, Human capital, Institutional Investors, International governance, Private equity, Private funds, UK
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Should Your Company Go Private?
Twenty-six public companies have gone private this year as of mid-May, totaling more than $121 billion in value. Compare that to 47 companies that did the same in all of 2021, the highest number of such deals in more than a decade, according to Dealogic. Dry powder is partially fueling these transactions as private equity firms compete […]
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Posted in Accounting & Disclosure, Boards of Directors, Comparative Corporate Governance & Regulation, Mergers & Acquisitions, Practitioner Publications
Tagged Boards of Directors, Disclosure, Going private, Mergers & acquisitions, Private firms, Public firms
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Climate Disclosures: Not Quite as Easy as (Scope) 1-2-3
Executive Summary Public policy advocacy is an important part of an asset manager’s active ownership strategy. Asset managers recently had a key opportunity to influence U.S. climate policy as the SEC invited comments on its proposed rule for corporate disclosures of climate-related information. Climate-related risks have increasingly become important for many companies within various industries […]
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Posted in Accounting & Disclosure, ESG, Practitioner Publications, Securities Regulation
Tagged Climate change, Environmental disclosure, ESG, Materiality, SEC, SEC rulemaking, Securities regulation, Sustainability
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CSOs Have More Impact When Aligned To The CEO
Businesses are more likely to hit organizational ESG targets when their sustainability leader reports directly to a CEO with a demonstrated commitment to sustainability. Many organizations find it challenging to know where to start when adding a new Chief Sustainability Officer (CSO) role. Our recommendation is to provide them with a direct line to the […]
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Posted in Accounting & Disclosure, ESG, Practitioner Publications
Tagged Climate change, ESG, Management, Sustainability
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Statement by Chair Gensler on Proposed Joint Amendments to Form PF
Today [Aug. 10, 2022], the Commission is considering whether to propose joint amendments with the Commodity Futures Trading Commission (CFTC) to Form PF, an important reporting tool that the Commission and the Financial Stability Oversight Council (FSOC) use, respectively, to protect investors and monitor systemic risk. I am pleased to support the proposal because, if […]
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Posted in Accounting & Disclosure, Institutional Investors, Practitioner Publications, Private Equity, Regulators Materials, Securities Regulation, Speeches & Testimony
Tagged CFTC, Disclosure, Form PF, Hedge funds, Institutional Investors, Private equity, Private funds, SEC, SEC rulemaking, Securities regulation
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Statement by Commissioner Uyeda on Proposed Joint Amendments to Form PF
Thank you, Chair Gensler. Who benefits from investments in private funds and alternative investments? In many cases, they are the pensioners in a retirement plan or a university student who benefits from an endowment. In other words, Americans of all types benefit from a robust market for private funds that is diverse and provides sophisticated […]
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Posted in Accounting & Disclosure, Institutional Investors, Practitioner Publications, Private Equity, Regulators Materials, Securities Regulation
Tagged CFTC, Disclosure, Form PF, Hedge funds, Institutional Investors, Private equity, Private funds, SEC, SEC rulemaking, Securities regulation
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