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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: Victoria Sidoti
Learning by Investing: Entrepreneurial Spillovers from Venture Capital
The academic literature on entrepreneurial finance has largely treated investors and entrepreneurs as distinct identities. But the boundaries between investors and entrepreneurs have become increasingly blurred, primarily due to the growing importance of angel groups, crowdfunding, venture funds, and other types of financial intermediation.
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Posted in Academic Research
Tagged entrepreneurial finance, Entrepreneurs, investing, Limited Partners, Venture Capital
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Insights From Delaware Litigators: What We’re Watching in 2024
Key Points In a key ruling, the Delaware Chancery Court held that corporate officers, as well as directors, may owe Caremark duties of oversight. In two cases, the court held that acquirers were justified in terminating deals because the “bring-down” terms in the respective merger agreements — which required representations and warranties to be reaffirmed at closing […]
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Posted in Practitioner Publications
Tagged Caremark, con ed, Court of Chancery, delaware, Oversight, Revlon, SPAC
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Strategic Compliance
Corporate compliance is at an inflection point, putting pressure on companies to reinforce their compliance programs more than ever before. Corporate policies serve as a blueprint for company-wide compliance programs, implementing compliance efforts into companies’ daily operations. Various internal and external factors have contributed to this increased formalization and disclosure of corporate policies, including the […]
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Posted in Academic Research
Tagged compliance, compliance programs, Corporate compliance, Corporate Policies, enforcement, regulation
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ESG Performance Metrics in Executive Pay
Companies have crossed the Rubicon in integrating environmental, social & governance (ESG) performance into their executive incentive plans. With three-quarters of S&P 500 index companies embedding some type of ESG metric into their leadership compensation policies, the practice is now deeply ingrained. But there is an opportunity to move beyond generic goals and tailor ESG […]
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Posted in Practitioner Publications
Tagged ESG, ESG Performance, executive pay, incentive plans, metrics
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Corporate Social Responsibility
In recent years, shareholder support of Corporate Social Responsibility (CSR) has increased considerably. The period from 2012 to 2020 saw a threefold increase in assets under management considering environmental and social impacts (left panel of Figure 1). Investment strategies now often involve screening for compliance with specific environmental and social standards. Additionally, the frequency of […]
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Posted in Academic Research
Tagged Corporate Social Responsibility, CSR, economics, ESG, Shareholders
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Seven Key Trends in ESG for 2023—and What to Expect in 2024
After years of buzz in business circles, ESG seemed to have lost some of its shine in 2023. We saw a host of new state laws looking to limit its use. Mentions of ESG on earnings calls dropped to their lowest level since 2020. Governors from 19 states joined an anti-ESG coalition and conservative members […]
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Posted in Practitioner Publications
Tagged anti-ESG, Climate Disclosure, Corporate Sustainability Reporting Directive, CSRD, dei, ESG, Shareholders, Sustainability
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Spillover Effects of Mandatory Portfolio Disclosures on Corporate Investment
U.S. mutual funds collectively managed assets worth $27 trillion, held about 32% of all U.S. corporate equity, and comprised 58% of U.S. household retirement accounts at the end of 2021 (Investment Company Institute, 2022). The Securities and Exchange Commission (SEC) requires mutual funds to provide the public with detailed information about their portfolio holdings and […]
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Posted in Academic Research
Tagged AM mutual funds, disclosure requirements, investors, Mutual funds, portfolio, SEC
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Impact of Non-GAAP Earnings and Adjustments on Incentive Plan Payouts
Introduction The reporting of “non-GAAP” (Generally Accepted Accounting Principles) financial metrics is a common practice among companies. These adjusted metrics are useful to investors and other stakeholders in understanding a company’s core operating results and facilitating year-over-year business performance comparisons. A number of these adjustments are considered outside of management’s control or non-recurring in nature. […]
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Posted in Practitioner Publications
Tagged GAAP, Generally Accepted Accounting Principles, incentive plan payouts, Incentives, non-GAAP, Proxy advisory
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A European Corporate Governance Model: Integrating Corporate Purpose Into Practice for a Better Society
List of authors of the underlying paper: Bruno Deffains, Xavier Dieux, Laurence Dors, Rodolphe Durand, Martin Fischer, Daniel Hurstel, Jukka Mähönen, Colin Mayer, Renate Meyer, Anne-Christin Mittwoch, Guido Palazzo, Markus Scholz, Beate Sjåfjell, Jaap W. Winter, Rupert Younger At a time of profound mutation, between a current system centered on companies’ profits and a competitive […]
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Posted in Practitioner Publications
Tagged Efficiency, ESG, European, fair sharing, governance principles, government relations
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Activist Investor Board Recruiting De-Mystified
Activist investors attempt to catalyze change at the companies they invest in. They employ multiple strategies and levers to kick-start transformation and growth; among these, corporate board change is an important one.
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Posted in Practitioner Publications
Tagged activist investors, Activists, Board composition, board diversity, board recruitment, directors
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