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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
New SSRN e-journal on Compensation of Executives & Directors
This post seeks to draw the attention of readers of the Forum to the new e-journal on Compensation of Executives and Directors of SSRN’s Corporate Governance Network (CGN). This journal distributes abstracts of, and links to, selected recent working papers that deal with compensation of top executives, compensation of mid-level executives, director compensation, and similar […]
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Posted in Academic Research, Executive Compensation, Program News & Events
Tagged SSRN
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The Design of Corporate Debt Structure and Bankruptcy
In our paper, The Design of Corporate Debt Structure and Bankruptcy, forthcoming in the Review of Financial Studies, we analyze the design of bankruptcy rules and debt structure in an optimal-contracting perspective. If cash flow is not verifiable and only the asset value of the firm is verifiable, then when a firm borrows from a […]
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Posted in Academic Research, Bankruptcy & Financial Distress, Empirical Research, Private Equity
Tagged Debtor-creditor law, EBRD
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Understanding RiskMetrics Compensation “GRId”
As discussed in our memos of March 16, 2010 and May 13, 2010, RiskMetrics has recently released the guidelines for calculations under its Governance Risk Indicator (GRId) rating system. The GRId instructions include over 50 pages of compensation questions, the answers to which result in a stand-alone Compensation GRId rating. The Compensation GRId questions and […]
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Posted in Comparative Corporate Governance & Regulation, Executive Compensation, Practitioner Publications
Tagged GRId, ISS
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FAS 157 and the Impact of Corporate Governance Mechanisms
In our paper, Value Relevance of FAS 157 Fair Value Hierarchy Information and the Impact of Corporate Governance Mechanisms, forthcoming in The Accounting Review, we use banking firm data from the first three quarters of 2008 to examine two important research questions related to fair value information provided by banks under FAS 157. First, we […]
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Posted in Academic Research, Accounting & Disclosure, Empirical Research
Tagged Fair values
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Detailed Summary of Senate Financial Reform Bill
Financial regulatory reform is reaching the legislative end game. On May 22, 2010, the United States Senate passed the Restoring American Financial Stability Act of 2010 (the “Senate bill”) by a vote of 59 to 39. The Senate bill is the culmination of nearly a year of work by the Senate – including a month […]
Click here to read the complete postPending U.S. and E.U. Legislation Promises Broad Changes for Private Fund Managers
Responding to the recent financial crisis, the U.S. and E.U. governments are taking steps to implement a broad extension of regulatory power to a wide range of private investment fund managers that previously operated globally subject to limited or no direct regulation. Pending U.S. Legislation The Restoring American Financial Stability Act, passed by the Senate, […]
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Posted in International Corporate Governance & Regulation, Legislative & Regulatory Developments, Practitioner Publications, Private Equity
Tagged Dodd-Frank Act, E.U. Fund Manager Directive, Hedge funds, Private funds
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Combining Banking with Private Equity Investing
In the paper, “An Unfair Advantage”? Combining Banking with Private Equity Investing, which was recently made publicly available on SSRN, we explore the phenomenon and economics of private equity investment by bank-affiliated groups. This paper is motivated by recent regulatory efforts to limit the ability of banks to undertake proprietary investing and trading activities. Despite […]
Click here to read the complete postUnderstanding RiskMetrics Shareholder Rights “GRId”
As we described in a prior memo, RiskMetrics has replaced its Corporate Governance Quotient (CGQ) with Governance Risk Indicators (GRIds). Using the new GRIds methodology, RiskMetrics will identify the level of concern (low, medium and high) for each company across four categories of corporate governance metrics used by RiskMetrics: Board Structure, Compensation, Audit and Shareholder […]
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Posted in Comparative Corporate Governance & Regulation, Practitioner Publications
Tagged Governance indices, GRId, ISS
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