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Program on Corporate Governance Advisory Board
- Peter Atkins
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HLS Faculty & Senior Fellows
Author Archives: Tarik Samman
The Economics of Net Zero Banking
In recent years, the banking sector has witnessed a significant shift, with banks representing 41% of global banking assets voluntarily committing to aligning their portfolios with a decarbonizing, net zero economy. Even banks without net zero commitments are pursuing investments in low emissions transitions. This trend raises important questions about the economics behind these commitments […]
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Posted in Academic Research
Tagged banking systems, Decarbonization, emissions, net zero
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Compensation Season 2025
Stock indices reached record highs in 2024 as the Federal Reserve stayed the course for a soft landing, reducing inflation, while simultaneously preserving a strong labor market. At the same time, increased regulatory vigilance and a rise in global political instability resulted in a year-over-year decline in larger merger transactions. With a new administration entering […]
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Posted in Practitioner Publications
Tagged ESG, Executive Compensation, Glass Lewis, ISS
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Voting on Voting Rights: How the World’s Largest Investors Sanction Companies with Unequal Voting Rights
It is a cornerstone of the capitalist model that shareholders at companies should have a voice in proportion to their economic ownership: “one share, one vote”. This ability to effectively scrutinise, challenge and hold companies to account is a crucial part of shareholder democracy and good corporate governance, and research shows that, ultimately, it drives […]
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Posted in Practitioner Publications
Tagged Corporate governance, dual-class structure, Shareholders, Voting Rights
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Insider Trading in Connected Firms during Trading Bans
There is an extensive body of studies that documents that corporate insiders with access to insider information are able to earn abnormal returns by trading their firms’ shares. Insiders’ sales and purchases are considered by the market to be important signals about a firm’s prospects such that those trades are often followed by other market […]
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Posted in Academic Research
Tagged Insider trading, Market, Trade, UK
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Mergers and Acquisitions—What Awaits in 2025?
After a relative low in global M&A in 2023, the past year witnessed a moderate uptick as the pandemic receded further into the rear-view mirror, the U.S. economy stabilized, inflation declined (albeit with some renewed concern toward the end of the year), financing markets brightened, albeit modestly, and equity markets climbed ever higher. Global M&A […]
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Posted in Practitioner Publications
Tagged Congress, M&A, Market, mergers and acquisitions
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The Political Carbon Cycle
Democrats and Republicans strongly disagree about climate policy. How does this disagreement influence the greenhouse gas emissions of private-sector firms? In a recent paper, I argue that the political affiliation of U.S. state governors has a surprisingly large effect on the polluting activities of public companies. Combining a hand-collected dataset tracking the careers of U.S. […]
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Posted in Academic Research
Tagged American Politics, carbon emissions, CSR, Greenhouse
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Practice Points Arising from Albertsons’ Claims Against Kroger for Breach of their Merger Agreement
On December 10, 2024, two courts, on antitrust grounds, enjoined the planned $24.6 billion merger pursuant to which Kroger was to acquire Albertsons. After the injunctions were issued, Albertsons terminated the parties’ Merger Agreement and filed suit against Kroger in the Delaware Court of Chancery. Albertsons alleges that, post-signing, Kroger had a case of buyer’s […]
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Posted in Practitioner Publications
Tagged Albertsons, Antitrust, Kroger, merger agreements
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Activists Target Insurance Industry?
Key Takeaways: Activism has become a constant presence and growing force that publicly traded insurance groups need to be aware of and focused on. The themes from 2024 activist campaigns include: short sellers taking positions and publishing negative news; longer-term investors looking to pressure companies to pursue new strategies; some diminishing activity around ESG; and […]
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Posted in Practitioner Publications
Tagged Activists, Board of Directors, ESG, proposals
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