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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
Turbulent Waters for Derivatives Markets
Central clearing may sound like a wonder drug to regulators and politicians around the world anxious to control trading in over-the-counter (OTC) derivatives, but it has side effects. US authorities realise this and have “backed off” from a position of requiring all derivatives to be cleared. Some in the US believe there will be a […]
Click here to read the complete postRegaining Corporate Governance Balance
Those who believe that U.S. corporate governance reform efforts have been moving too fast and too far off course [1] need to focus carefully on the current state of play. We are at a moment in time when it may be possible to achieve a more balanced outcome from Washington than seemed likely only a […]
Click here to read the complete postPerformance Persistence in Entrepreneurship and Venture Capital
In the paper, Performance Persistence in Entrepreneurship and Venture Capital, forthcoming in the Journal of Financial Economics, my co-authors (Paul Gompers, Anna Kovner, and David Scharfstein) and I address two basic questions: Is there performance persistence in entrepreneurship? And, if so, why? Our answer to the first question is yes: all else equal, a venture-capital-backed […]
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Posted in Academic Research, Empirical Research
Tagged Venture capital firms
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The Lead Director’s Role in Major Transactions and Board Succession Planning
The lead director’s role in major corporate transactions and board succession planning are two topics that are often critical to a company’s long-term success. However, although “bet the company” transactions are themselves not new, in view of the recent expansion of lead directors’ roles, there is currently little formal guidance or established practices defining the role […]
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Posted in Boards of Directors, Mergers & Acquisitions, Practitioner Publications
Tagged Lead directors
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Strategic and Financial Bidders in Takeover Auctions
In the paper, Strategic and Financial Bidders in Takeover Auctions, which was recently made publicly available on SSRN, we propose a structural empirical model of a takeover auction that studies asymmetries between strategic and financial bidders. A large portion of deals in the multi-trillion market for takeovers are done through the competitive auction. In these […]
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Posted in Academic Research, Empirical Research, Mergers & Acquisitions
Tagged Bidders, Takeovers
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Multiple Gatekeepers
In my paper Multiple Gatekeepers, which was recently accepted for publication in the Virginia Law Review, I extend the literature on gatekeeper liability by considering the possibility that the fraud-deterrence capacity of gatekeepers will be interdependent, and not simply independent as previous scholars have assumed. Put differently, I envisage of gatekeepers as providing an interacting […]
Click here to read the complete postFollow Harvard’s Corporate Governance Forum on Twitter
In addition to daily e-mail updates (which you can sign-up for here), the Forum on Corporate Governance and Financial Regulation sends out regular updates on Twitter about our posts and events. Click here to view our Twitter page and see the latest updates. Twitter users can click the “Follow” icon to receive current tweets as […]
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Posted in Program News & Events
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SEC Proposes Asset-Backed Securities Reform
On April 7, 2010, the Securities and Exchange Commission proposed significant revisions to Regulation AB and other rules relating to the disclosure, reporting and offering process for asset-backed securities. The proposed rules are intended to provide investors with more information, additional useful tools and more time to consider their investment in the asset-backed securities, and […]
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Posted in Legislative & Regulatory Developments, Practitioner Publications, Securities Regulation
Tagged Asset-backed securities, SEC
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Do Global Banks Spread Global Imbalances?
In our paper, Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09, forthcoming in the IMF Economic Review, we provide evidence that global imbalances cannot explain the geography of the financial crisis of 2007-09. In particular, they cannot explain why surplus countries such as Germany and […]
Click here to read the complete postDelaware Ruling Reinforces Validity of the Poison Pill
A recent decision by the Delaware Court of Chancery strongly reinforces both the continued relevance of the shareholder rights plan and the primacy of boards’ business judgment. Selectica, Inc. v. Versata, Inc., [1] decided by Vice Chancellor Noble last month, concludes the saga of the first triggering of a modern poison pill—and represents the first […]
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