Author Archives: Tarik Samman

Delaware’s Rocky Year–What Lies Ahead?

2024 was a remarkable year in Delaware. For the first time in as long as anyone can remember, people began to seriously question whether Delaware would retain its dominance as the go-to jurisdiction for incorporating companies. There was an uproar following several decisions by the Delaware Court of Chancery that seemed to shake the market’s […]

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Weekly Roundup: January 31-February 6, 2025

Thoughts for Boards: Key Issues in Corporate Governance for 2025 Posted by Martin Lipton, Wachtell, Lipton, Rosen & Katz, on Friday, January 31, 2025 Tags: Board of Directors, Corporate governance, ESG, Stakeholder 2024 Corporate Governance Practices and Trends in Silicon Valley and at Large Companies Nationwide Posted by David A. Bell and Wendy Grasso, Fenwick […]

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Anti-ESG Proposals Have Increased in Volume, but Fare Poorly

The movement for greater corporate responsibility over environmental, social and governance issues, commonly known as ESG, has become increasingly prevalent across boardrooms and shareholder meetings in recent years. However, alongside this momentum, there has been growing opposition to corporate ESG initiatives, and groups critical of these efforts have grown in tandem. The debate over ESG […]

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Political Power and Market Power

Does market power lead to political power? This longstanding question, raised by Louis Brandeis in 1914, remains strikingly relevant today. As industries become more concentrated, firms not only shape markets but also seek to influence the regulatory and political landscape. In our study, Political Power and Market Power, we examine this connection using detailed data […]

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Outlook for M&A and Activism in 2025

Many have predicted an M&A boom in 2025 and recent CEO surveys exhibit rising confidence. Psychology is as important to the merger market as any human endeavor, so one should not discount the power of renewed optimism to be a self-fulfilling prophecy. We expect reality to be more nuanced, however, although 2025 should be a […]

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Looking Ahead to 2025

Serving on an audit committee in 2025 might be daunting even if the committee could be assured that it would not have to take on any added responsibilities in the new year. After all, even the most basic perennial responsibilities of audit committees, such as overseeing the audit of the financial statements and compliance with […]

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How the EU’s Sustainability Due Diligence Directive Could Reshape Corporate America

One of the most important developments in corporate governance is the growing divide between the US and the EU on issues of corporate social responsibility. The starkest example of this divide comes from the new EU Directive on Corporate Sustainability Due Diligence (CS3D). The Directive holds large corporations legally accountable for protecting various human rights […]

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White-Collar and Regulatory Enforcement: What Mattered in 2024 and What to Expect in 2025

As we write this memorandum, President Trump’s second administration is forming in Washington, with new leadership teams being appointed at DOJ, the SEC and across other regulatory and law-enforcement agencies. In 2017, when President Trump first took office, we avoided predicting what the administration’s significant white-collar and regulatory enforcement priorities and policies might be in […]

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Proxy Voting Policy for U.S. Portfolio Companies

The information below, organized according to Vanguard Investment Stewardship’s four pillars of corporate governance, is the voting policy adopted by the boards of the Vanguard-advised funds (the “Funds’ Boards”) and describes the general positions of the funds on proxy proposals that may be subject to a shareholder vote at U.S.-domiciled companies. It is important to […]

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Embedded Culture as a Source of Comparative Advantage

The Cultural Economics Revolution In the second half of the 20th century, economics operated under two fundamental assumptions: that humans were perfectly rational (the rationality assumption) and that their behavior was universally consistent across cultures and contexts (the universality assumption). These hypotheses were challenged by two streams of literature: behavioral economics and cultural economics. The […]

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