-
Supported By:
Subscribe or Follow
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
Collateral, Risk Management, and the Distribution of Debt Capacity
In our paper, Collateral, Risk Management, and the Distribution of Debt Capacity, which is forthcoming in the Journal of Finance, we provide a dynamic model of collateralized financing in which collateral constraints are endogenously derived based on limited enforcement. In the model, firms have access to complete markets, subject to collateral constraints, and thus are […]
Click here to read the complete post
Posted in Academic Research, Accounting & Disclosure, Empirical Research
Tagged Collateral, Corporate debt
Comments Off on Collateral, Risk Management, and the Distribution of Debt Capacity
Restriction on Removing PCAOB Members Violates Separation of Powers
Today, the United States Supreme Court issued its opinion in Free Enterprise Fund v. Public Company Accounting Oversight Board, No. 08-861. The Public Company Accounting Oversight Board (“Board”) was created by the Sarbanes-Oxley Act of 2002 to regulate accounting firms that conduct audits of public companies. The five members of the Board are appointed by […]
Click here to read the complete post
Posted in Accounting & Disclosure, Court Cases, Practitioner Publications
Tagged Free Enterprise Fund v. PCAOB, PCAOB, SOX, Supreme Court
Comments Off on Restriction on Removing PCAOB Members Violates Separation of Powers
Does the Stock Market Harm Investment Incentives?
In the paper, Does the Stock Market Harm Investment Incentives? which was recently made publicly available on SSRN, my co-authors, John Asker and Joan Farre-Mensa, and I examine whether the stock market harms investment incentives. The theory literature in economics and finance has long argued that the separation of ownership and control following a stock […]
Click here to read the complete postInvestor Protection Provisions of the Dodd-Frank Act
The investor protection provisions of Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act, H.R. 4173, 111th Cong. (2010) promise to make major changes in the world of securities enforcement and regulation. Thanks to Dodd-Frank, we will shortly see whistleblowers enticed by potentially lucrative bounties for reporting violations to a much larger […]
Click here to read the complete postFocusing the SEC’s Regulatory Agenda on Investors
Editor’s Note: Mary Schapiro is Chairman of the U.S. Securities and Exchange Commission. This post is based on Chairman Schapiro’s recent remarks at the Stanford University Law School Directors College, which are available here. The views expressed in the post are those of Chairman Schapiro and do not necessarily reflect those of the Securities and […]
Click here to read the complete post
Posted in Financial Regulation, Securities Regulation, Speeches & Testimony
Tagged Proxy plumbing, SEC
Comments Off on Focusing the SEC’s Regulatory Agenda on Investors
The Financial Reform Act and Executive Pay
The House and Senate conferees on H.R. 4173, the Restoring American Financial Stability Act of 2010 (RAFSA), have been reviewing and reconciling differences between the House and Senate versions of RAFSA since early June. [1] The conference is based on the Senate version passed May 20. RAFSA covers, among other things, a broad range of […]
Click here to read the complete postThe Impact of Financial Reform on Securities Litigation and Enforcement
In addition to many significant regulatory provisions, the conference report text of the proposed Dodd-Frank Wall Street Reform and Consumer Protection Act contains a number of provisions in Title IX (Investor Protections and Improvements to the Regulation of Securities) which, if enacted, would have a significant impact on securities litigation and enforcement. Other proposed provisions […]
Click here to read the complete postCorporate Governance and Executive Compensation Provisions of the Dodd-Frank Act
On June 25, 2010, a House and Senate conference committee negotiating the blueprint for the reform of the U.S. financial system agreed on text of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”). The Act as embodied in the conference report is currently scheduled to be approved by Congress this week before […]
Click here to read the complete post
Posted in Executive Compensation, Financial Regulation, Legislative & Regulatory Developments, Practitioner Publications, Securities Regulation
Tagged Dodd-Frank Act
Comments Off on Corporate Governance and Executive Compensation Provisions of the Dodd-Frank Act
Collins Amendment Sets Minimum Capital Requirements
The Collins Amendment, originally drafted by the FDIC staff and reflecting views held by Chairwoman Bair, imposes, over time, the leverage and risk-based standards currently applicable to U.S. insured depository institutions on U.S. bank holding companies, including U.S. intermediate holding companies of foreign banking organizations, thrift holding companies and systemically important nonbank financial companies. One […]
Click here to read the complete post