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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
Strengthening and Streamlining Prudential Bank Supervision
Editor’s Note: The post below by Sheila Bair is a transcript of her testimony last week to the Senate Committee on Banking, Housing, and Urban Affairs in its hearing on “Strengthening and Streamlining Prudential Bank Supervision.” Ms. Bair’s complete written testimony can be found here.) Chairman Dodd, Ranking Member Shelby and members of the Committee, […]
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Posted in Banking & Financial Institutions, Financial Crisis, Financial Regulation, Legislative & Regulatory Developments, Securities Regulation
Tagged Banks, FDIC, Financial reform, Financial regulation, Regulators, Shadow banking
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Shareholder Expropriation in the U.S.
Contrary to the general view that publicly-traded firms in the United States are diffusely owned, blockholders in these firms are both frequent and substantial. However, despite the prevalence of blockholders, their effect on firm value is unresolved. In our forthcoming Journal of Financial and Quantitative Analysis paper Is there shareholder expropriation in the United States? […]
Click here to read the complete postChrysler Opinion Reaffirms Flexible Standards Governing Section 363 Sales
Editor’s Note: This post relates to the decision of the Court of Appeal for the Second Circuit in In re Chrysler LLC, Case No. 09-2311 (2d Cir. Aug. 5, 2009).) This post was written together with my colleagues Richard G. Mason and Austin T. Witt. The Second Circuit Court of Appeals has issued an extensive […]
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Posted in Bankruptcy & Financial Distress, Court Cases, Practitioner Publications
Tagged Bankruptcy, Bankruptcy Code, Bankruptcy Code s.363, Debtor-creditor law, In re Chrysler LLC
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ABA Taskforce asks that Corporate Governance Reform Reject Rigidity in Viewpoints
Editor’s Note: This post is by Holly Gregory of Weil, Gotshal & Manges LLP. A Task Force of the Corporate Governance Committee of the ABA Section of Business Law has released a report on how governance roles and responsibilities are apportioned between shareholders and boards of directors — an issue of relevance to the current […]
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Posted in Boards of Directors, Corporate Elections & Voting, Legislative & Regulatory Developments, Practitioner Publications
Tagged Boards of Directors, Governance reform, Shareholder proposals
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U.S. Corporate Governance Today: Follow-up Discussion
Editor’s Note: This post is by Peter Atkins of Skadden, Arps, Slate, Meagher & Flom LLP. On July 29, the Harvard Law School Forum on Corporate Governance and Financial Regulation posted my memorandum entitled “U.S. Corporate Governance Today: A Reshaping of Capitalism.” The message of that memorandum was, in brief, as follows: “Corporate governance” has […]
Click here to read the complete postRisk Taking by Entrepreneurs
Entrepreneurial activity is risky and poorly diversified. Most economic models would suggest that the high degree of entrepreneurial risk should be compensated by premium returns, but this is not borne out by the empirical evidence. Several hypotheses based on the idea that entrepreneurs have a different set of preferences or beliefs (e.g. risk tolerance or […]
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Posted in Academic Research, Bankruptcy & Financial Distress, Empirical Research, Private Equity
Tagged Entrepreneurs, Risk, Risk-taking
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SEC Announces Short Sale Rule Changes and Initiatives
On July 27, 2009, the Securities and Exchange Commission (“SEC”) adopted final Rule 204 of Regulation SHO (“Rule 204” or the “final rule”) under the Securities Exchange Act of 1934, making permanent, with minor changes, the firm delivery and close-out requirements for sales of equity securities contained in temporary Rule 204T of Regulation SHO (“temporary […]
Click here to read the complete postThe Board’s Role in Risk Management
Risk management is currently a topic of considerable interest to public company boards. While taking measured and informed risks is an important element of any company’s strategy, the financial and economic crisis has led companies and boards to change their approaches to risk management. Moreover, given the events in the capital markets over the past […]
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Posted in Boards of Directors, Financial Crisis, Practitioner Publications
Tagged Boards of Directors, Lead directors, Risk, Risk management
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Directors’ and Officers’ Insurance
At a time of historically significant dislocation in the corporate world, directors and officers now more than ever need to focus their attention on directors’ and officers’ (“D&O”) insurance, as part of their overall strategy involving effective corporate governance and risk management. Although the best protection should continue to come from conscientious attention to directorial […]
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