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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: Tarik Samman
A Hard Look at Portfolio Primacy Theory As a Financial Rationale for SEC-Mandated ESG Disclosure
The Securities & Exchange Commission (“SEC”) is poised to adopt a controversial set of new disclosure mandates related to climate change, and pressure is on for the SEC to adopt additional ESG disclosure mandates. Given limitations on the scope of the SEC’s rulemaking authority, ESG disclosure advocates—which include many of the largest traditional asset managers—often […]
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Posted in Academic Research
Tagged Court of Appeals for the D.C. Circuit, ESG, intraportfolio, SEC
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SPARCs: An Attractive Alternative to Traditional SPACs?
On September 29, 2023, the U.S. Securities and Exchange Commission (SEC) declared effective a registration statement for Pershing Square SPARC Holdings, Ltd., which is contemplating a unique variation on the traditional special purpose acquisition company (SPAC) structure. This variation, called a SPARC—or special purpose acquisition rights company—was spearheaded by billionaire investor Bill Ackman through his […]
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Posted in Practitioner Publications
Tagged IPOs, PIPE, SEC, SPAC
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From Transcripts to Insights: Uncovering Corporate Risks Using Generative AI
In an era marked by political turbulence, climatic unpredictability, and rapid technological transformations, corporations are subject to multi-dimensional risks. As these risks have become more and more complex and important over time, they have profound implications for sustainable growth and stakeholder value. Therefore, in our latest study “From Transcripts to Insights: Uncovering Corporate Risks Using […]
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Posted in Academic Research
Tagged Artificial intelligence, ChatGPT, Corporate Risks, Stakeholders
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The Compensation Committee’s Evolving Role in Human Capital Management
Many leaders delved into human capital management (HCM) when the economy was booming, just before the Great Resignation. Boards and compensation committees worked to understand talent issues and make their companies more attractive, inclusive, and engaging. Now that the labor market is shifting, HCM has become even more critical as companies navigate new market-related challenges. […]
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Posted in Practitioner Publications
Tagged Board of Directors, Compensation committees, Human capital, Surveys
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Machine-Learning the Skill of Mutual Fund Managers
A central challenge in mutual fund research has been to discern whether fund managers have skill and, if so, whether it is persistent. Prior research has made limited progress in answering these questions. We revisit the issue using modern machine learning tools to predict mutual fund performance. Utilizing a neural network model, we estimate relations […]
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Posted in Academic Research
Tagged CFNAI, Mutual funds, stock market, US Equity Funds
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Strive Asset Management vs. Engine No. 1: How Did the Activists Vote?
Strive Asset Management and Engine No. 1 are firms on opposite ends of the environmental, social, and governance spectrum that have attracted more attention than assets. Both firms offer index-tracking funds that focus on voting decisions to allow fund investors to express their preferences on governance and sustainability matters. Now that both have voting records sizable […]
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Posted in Practitioner Publications
Tagged anti-ESG, ESG, ETFs, Shareholders
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Political grammars of justification and cost-benefit analysis in SEC rulemaking
Evidence-based policymaking suggests an objective and systematic form of governing that upholds the authority of evidence in legitimizing regulatory decisions. Financial regulators confront contemporary trends and pressures to justify regulatory decisions in an evidence-based manner using cost-benefit analysis (CBA). However, as a mechanism for justifying financial regulation, CBA elicits polarized views. On the one hand, […]
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Posted in Academic Research
Tagged CBA, Conflict minerals, NGOs, SEC
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Corporate Governance Standards Proposed by FDIC
On October 3, 2023, the Federal Deposit Insurance Corporation (“FDIC”) proposed standards for corporate governance and risk management for the institutions it regulates that have $10 billion or more in total assets (“Proposed Standards”).[1] The Proposed Standards would establish extensive and rigid requirements for a wide range of state-chartered banks.[2] Further, they would reverse decades […]
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Posted in Practitioner Publications
Tagged Board of Directors, Corporate governance, FDIC, OCC
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Anthropic Long-Term Benefit Trust
Artificial intelligence promises to be one of the most transformative technologies of our time. Can corporate governance evolve to ensure that it develops safely and responsibly? Anthropic, PBC, one of America’s leading AI labs, offers an innovative answer. This post describes the company’s attempt to fine-tune the levers of corporate governance through a novel arrangement […]
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Posted in Academic Research
Tagged Artificial intelligence, Board of Directors, stockholders, Voting Trustees
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