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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
Country- and Firm-Level Determinants of Law Compliance
In our paper, Is the World Flat? Country- and Firm-Level Determinants of Law Compliance, which was recently accepted for publication in The Journal of Law, Economics, and Organization, we revisit the effects of a country’s institutional framework on individual firms’ behavior, in particular focusing on their propensity to comply with legal rules. We focus on […]
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Posted in Academic Research, Corporate Social Responsibility, Empirical Research, International Corporate Governance & Regulation
Tagged Compliance & ethics, Legal systems
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Delaware’s Art of Judging
Richard Posner should have been a U.S. Supreme Court justice. I flash on him as I watch Vice Chancellor Leo Strine of the Delaware Court of Chancery stride back and forth before a rapt audience of hundreds of Harvard Law Students in October 2007. Strine’s brilliance is staggering, his energy enormous; a boiling rage for […]
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Posted in Court Cases, Mergers & Acquisitions, Practitioner Publications
Tagged Delaware cases, Delaware law, Lawdragon
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World Markets for Mergers and Acquisitions
In our recently completed working paper, World Markets for Mergers and Acquisitions, we investigate the extent to which valuation differences and other international factors motivate cross-border mergers and acquisitions. Valuation differences between acquirers and targets can be broken into three components: Differences in country-level stock market movements, differences in firm-specific stock price movements relative to […]
Click here to read the complete postFDIC Proposal May Inhibit Private Equity Investments in Failed Banks
The FDIC recently issued a proposed policy statement laying down stringent new ground rules for private equity investments in failed banks. Currently, private equity firms face significant regulatory challenges in structuring investments in banks and thrifts. The Federal Reserve (in the case of bank acquisitions) and the OTS (in the case of thrift acquisitions) remain […]
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Posted in Financial Crisis, Financial Regulation, Practitioner Publications, Private Equity, Securities Regulation
Tagged Banks, Failed banks, FDIC, Private equity
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Identifying and Deflating Asset Bubbles
Editor’s Note: This post is by Hugh C. Beck, a member of the Securities and Exchange Commission staff. Despite its ostensible focus on stability, the Obama administration’s financial reform proposal offers no plan to prevent asset bubbles like the one in subprime loan securities that triggered the current crisis. Although expected, this outcome is disappointing […]
Click here to read the complete postThe Fall of the Toxic-Assets Plan
Editor’s Note: This post is based on an op-ed piece by Lucian Bebchuk published today on Wall Street Journal online. The plan for buying troubled assets — which was earlier announced as the central element of the administration’s financial stability plan — has been recently curtailed drastically. The Treasury and the FDIC have attributed this […]
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Posted in Financial Crisis, Financial Regulation, Op-Eds & Opinions
Tagged FDIC, Toxic assets, Treasury Department
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Management Persuasion Tactics
In our paper, Concede or Deny: Do Management Persuasion Tactics Affect Auditor Evaluation of Internal Control Deviations?, which was recently accepted for publication in the Accounting Review, we study when and how management persuasion tactics reduce auditors’ judgments about observed internal control deviations. By requiring auditors to opine on the effectiveness of a client’s internal […]
Click here to read the complete postBankUnited Bid Reveals Complexity of FDIC Decision Process
Editor’s Note: This post is Eduardo Gallardo’s colleagues Kimble Cannon, Dhiya El-Saden and Chris Bellini. The post discusses the recently disclosed bids in the Federal Deposit Insurance Corporation’s May 2009 auction of BankUnited Financial Corp. The bids show that the “highest” bidder did not necessarily win the auction, and that the FDIC’s decision making process […]
Click here to read the complete postDelaware Law Changes to Facilitate Voluntary Adoption of Proxy Access
On April 10, 2009, Delaware’s governor signed into law legislation that has the potential to impact significantly the election of directors. These changes are effective August 1, 2009, but generally would not affect companies until the 2010 proxy season. This Commentary describes the legislative changes and their practical impact, as well certain questions raised by […]
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Posted in Corporate Elections & Voting, Legislative & Regulatory Developments, Practitioner Publications
Tagged Delaware law, Georgeson, Proxy access, Proxy voting, Shareholder elections, Shareholder voting
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