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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
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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Convergent Evolution Toward the Joint-Stock Company
Understanding the genesis of joint-stock companies (JSCs) is crucial for identifying the essential factors that facilitated their emergence and flourishing. These factors remain absent in numerous countries that have not seen the development of the JSC. Even in developed nations, the dwindling number of listed firms raises questions about the actual presence of supportive conditions.
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Posted in Academic Research
Tagged convergent evolution, Europe, joint-stock companies, JSCs, trade companies
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2023 Biodiversity Disclosures in the Russell 3000 and S&P 500
Biodiversity Loss is an Interconnected and Existential Business Risk Biodiversity is an indicator of a healthy ecosystem, and healthy ecosystems offer value and resilience through the goods and services they provide that underpin society and businesses. Declining biodiversity could impede wealth creation: according to a 2020 report from the World Economic Forum (WEF), more than […]
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Posted in Practitioner Publications
Tagged Biodiversity, Climate change, ecosystem, water scarcity, WEF
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Specialist Directors
What determines the effectiveness of corporate boards? Corporate legal scholars usually approach this question by focusing on directors’ incentives, such as counting how many directors are independent or whether the roles of the CEO and Chair are separated. Yet, the focus on the ground is shifting to directors’ skill sets and experience. Investors, regulators, and […]
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Posted in Academic Research
Tagged Board composition, board diversity, board effectiveness, Climate, corporate boards, Cybersecurity, dei, directors, ESG
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Is There a Difference Between How US and European Investors Approach Stewardship?
i. Introduction AQTION, a subsidiary of SquareWell Partners, published its inaugural study – ‘Stewardship in AQTION’ – which details how the world’s largest 65 asset managers and owners steward their portfolio companies and how they incorporate extra-financial considerations into their investment decision-making processes.
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Posted in Practitioner Publications
Tagged AQTION, Biodiversity, ESG, investments, portfolio companies, SquareWell, Stewardship
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Engaged employees are asking their leaders to take climate action
Employees with strong environmental awareness can play a pivotal role in accelerating corporate sustainability plans, yet Deloitte survey data shows that leaders could be doing more to engage their full workforce around the need for action. Addressing climate change will require both system-level changes and billions of individual ones: from how we get around, to what we […]
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Posted in Practitioner Publications
Tagged Activism, Climate, climate action, Climate change, job satisfaction, Sustainability
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