Harvard Corporate Governance

JUNE 9, 2022

Rich, at last year’s conference, you and I spoke about how technology has transformed and continues to transform our equity markets. [1]. For example, retail investors have greater access to markets than any time in the past. Further, the markets have become increasingly hidden from view. equity volume.

Equity 200

Equity Marketability Technology 200

Harvard Corporate Governance

MAY 15, 2022

Significant volatility continues to disrupt the equity markets, with the major stock indexes swinging multiple percentage points often on a daily basis. This additional regulatory delay means that transactions, and in particular deals involving stock consideration, are increasingly vulnerable to market risk over a longer time horizon.

Marketability 242

Marketability Market Risk Equity 242

Harvard Corporate Governance

SEPTEMBER 22, 2022

Intended to standardize the presentation of existing information related to the relationship between executive pay and company performance for investors, the final rules may also pose a new and significant burden on some companies with respect to their equity valuation processes and are substantially different from the proposed rules.

Equity 173

Equity Marketability 173

Harvard Corporate Governance

NOVEMBER 8, 2022

This post is based on his recent paper , forthcoming in Capital Markets Law Journal, and is part of the Delaware law series ; links to other posts in the series are available here. Hu is the Allan Shivers Chair in the Law of Banking and Finance at the University of Texas Law School.

Equity 199

Equity Banking Finance Marketability 199

Harvard Corporate Governance

AUGUST 18, 2022

For many, investing in the current market environment can be described as navigating uncharted waters. With US inflation running at a 40-year high and a rocky first half of the year for both equity and fixed income markets globally, uncertainty is high.

Dividends 164

Dividends Equity Marketability 164

Benzinga

MAY 6, 2022

Several states that have recently or soon intend to roll out their adult-use cannabis marketplaces hope progressive equity licensing measures pay off, unlike the states before them. New York's market potential and progressive licensing model is earning it ample spotlight. A $200 million fund for equity license.

Equity 98

Equity Marketability 98

John Jenkins

DECEMBER 13, 2022

According to this PitchBook article, the cooling M&A market has resulted in more extensive due diligence and, as this excerpt explains, a bit of a comeback for indemnity arrangements and meaningful escrows in PE deals: Buyers have been taking more time to dig into a target’s financial standing and, in some cases, have been negotiating […] (..)

Equity 40

Equity Marketability 40

Harvard Corporate Governance

SEPTEMBER 14, 2022

The banking industry has undergone substantial changes since the late 1970s, largely due to deregulation and rapid market developments. Over that period, banks’ growth opportunities expanded, and banks entered new markets, both geographic and product. This post is based on their recent paper , forthcoming in The Accounting Review.

Banking 199

Banking Equity Firm Value Marketability 199

BVR

MARCH 28, 2022

now includes analyzing such concepts as invested capital premiums and equity-based premiums, transaction synergies and strategic values, marketability, and levels of control. What began years ago as a relatively simple question—if there is a control premium, what should it be?—now

Equity 187

Equity Marketability Business Valuation 187

Harvard Corporate Governance

MAY 20, 2022

Addressing Market Volatility and Risk in M&A Agreements. Tags: Australia , Disclosure , ESG , Germany , International governance , Japan , Labor markets , Stewardship. Posted by Edward D. Herlihy, Wachtell, Lipton, Rosen & Katz, on Sunday, May 15, 2022. Proposed SEC Rule on Private Fund Advisers. Posted by William W.

Equity 199

Equity Marketability Technology 199

Harvard Corporate Governance

OCTOBER 20, 2022

For a variety of reasons, 2022 has been a challenging year in the market and particularly within the industries that are traditionally heaviest in terms of public offerings ¾ biotech and high tech. This article focuses on understanding practices related to equity awards made at or around IPO.

Equity 143

Equity Marketability 143

Harvard Corporate Governance

SEPTEMBER 22, 2022

As activity—still at impressive levels considering everything that has been thrown at the deal market—takes a breather, we consider five fundamental trends that may play out over the coming months. It is likely that direct lenders will step in to pick up some of the slack left by more cautious capital markets.

Finance 242

Finance EBITDA Equity Marketability 242

Harvard Corporate Governance

SEPTEMBER 16, 2022

2022 Proxy Season Review: Say-on-Pay and Equity Compensation Plan Voting. Cybersecurity + ESG for the Global Capital Markets. Tags: Capital markets , Cybersecurity , ESG , Risk management , Stakeholders. NYSE’s Proposed Relaxed Pricing Limits for Primary Direct Listings. on Monday, September 12, 2022. Posted by Jonathan R.

Banking 195

Banking Equity Marketability Technology 195

Harvard Corporate Governance

NOVEMBER 5, 2022

The report is accompanied by a Live Dashboard , which contains the most current figures and enables data cuts by market index, business sectors, and company size groups. The success of many shareholder proposals on civil rights or racial equity audits. Please refer to the dashboard for the most recent data.

Equity 333

Equity Marketability 333

Harvard Corporate Governance

MAY 20, 2022

The past few decades have seen public equity markets becoming increasingly dominated by a few large, diversified institutional investors such as BlackRock, Vanguard, and Fidelity. It requires information on both the competitive landscape (which firms compete with each other) and asset markets (which firm’s shares each investor holds).

Marketability 334

Marketability Finance Equity 334

Harvard Corporate Governance

JUNE 2, 2022

nancial markets, but also ties their health to that of other ?nancial We do so by focusing on bank executives’ equity portfolio (i.e., stock and option) “vega,” which captures the sensitivity of their equity portfolio’s value to their firm’s stock return volatility. Wang (discussed on the Forum here ). Banks’ role in ?nancial

Banking 234

Banking Capital Structure Equity Marketability 234

Harvard Corporate Governance

SEPTEMBER 30, 2022

High turnover leads to an extremely active market. An active CFO market has companies forgoing traditional requirements. Recent strides have been made in promoting women CFOs. The S&P 500 landscape is shifting towards strategically-oriented CFOs. Over half of S&P 500 CFOs were hired into their role within the past three years.

Finance 173

Finance Marketability Equity 173

Harvard Corporate Governance

APRIL 14, 2022

Related research from the Program on Corporate Governance includes The Law and Economics of Equity Swap Disclosure by Lucian A. We applaud the efforts of the Commission and the Staff in making the Proposal and creating greater market transparency. Emmerich, Mr. Katz, Trevor S. Norwitz , William Savitt , and Sabastian V. Jackson Jr.

Marketability 199

Marketability Equity 199

Harvard Corporate Governance

MAY 13, 2022

It has certainly been an interesting two years in the market during that time. John Galloway: By way of context, the team I lead is responsible for investment stewardship activities for Vanguard’s internally managed equity funds, which are principally index funds.

Equity 208

Equity Marketability 208

Benzinga

DECEMBER 1, 2022

01, 2022 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the acquisition of an 83,227 square foot industrial asset in the West Inland Empire, California for $30.25M. New York, NY, Dec.

Equity 40

Equity Marketability 40

Harvard Corporate Governance

APRIL 6, 2022

The SEC would then take the details provided in Form SHO and publish aggregate information on large short positions related to individual equity securities and net activity during the applicable month. This information is intended to supplement the current short sale transaction information provided by major U.S.

Equity 221

Equity Marketability 221

Harvard Corporate Governance

NOVEMBER 7, 2022

The common ownership hypothesis suggests that large, institutional investors who own equity stakes in firms that compete in the same industry have an incentive to reduce competition by, for example, increasing prices, lowering production, or increasing barriers to entry. The theory behind the hypothesis is relatively straightforward.

Banking 187

Banking Equity Finance Marketability 187

Private Funds CFO

JANUARY 18, 2022

Business development is proving to be a key role as market activity heats up.

Private Equity Firm 52

Private Equity Firm Equity Marketability 52

Musings on Markets

JANUARY 19, 2022

If equity markets surprised us with their resilience in 2020, not just weathering a pandemic for the ages, but prospering in its midst, US equity markets, in particular, managed to find light even in the darkest news stories, and continued their rise through 2021. The year that was.

Risk Premium 80

Risk Premium Risk-free Rate Start-ups Equity 80

Harvard Corporate Governance

AUGUST 14, 2022

Dry powder is partially fueling these transactions as private equity firms compete to buy the best companies at the best prices, pushing them to look at the public markets for inspiration. Compare that to 47 companies that did the same in all of 2021, the highest number of such deals in more than a decade, according to Dealogic.

Private Equity Firm 252

Private Equity Firm Compliance Equity Marketability 252

Benchmark Report

JANUARY 24, 2022

Private equity transactions on a global scale returned to form in 2021 following the challenges posed by the pandemic, with private equity firms deploying record amounts of dry powder held as they looked to invest cash accumulated during the pandemic. Deal volume was also staggering, showing a 60% increase year-on-year.

Equity 98

Equity Private Equity Firm Marketability 98

Benzinga

SEPTEMBER 13, 2022

13, 2022 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the acquisition of a 330,000 square foot industrial asset in Passaic, New Jersey. New York, NY, Sept.

Equity 40

Equity Marketability 40

Startup Valuation Blog

JANUARY 31, 2022

If you consider exchanging startup equity for services - you should follow three basic steps. . In the absence of financing, they offer service providers equity in exchange for services. The exchange of equity-for-services is a deal that involves negotiating. Allocate the Equity. The final step is equity allocation.

Equity 100

Equity Business Valuation Finance Marketability 100

Benchmark Report

NOVEMBER 21, 2022

Many individuals at large institutions that trade in the public markets are turning to private ownership and pursuing majority equity positions in lower middle-market companies and even creating their own funds. Take-privates are on pace for the second year in a row at $100 billion or more in deal value.

Equity 52

Equity Marketability 52

IVSC

APRIL 29, 2022

” Against a backdrop of significant economic and market uncertainty, our panel of international experts from the worlds of valuation, finance, economics, monetary policy and politics will look at the latest data and trends and offer their thoughts on the global outlook. Ranjit Singh United States Chief, Global Markets, IMF.

Intangible Assets 246

Intangible Assets Finance Enterprise Value Corporate Finance 246

Harvard Corporate Governance

DECEMBER 7, 2022

equity mutual funds at the monthly, annual, decade, and full-sample horizons. equity mutual funds during the 1991 to 2020 period. We show that the percentage of funds that outperform market benchmarks decreases with the horizon over which returns are measured. We study a broad sample of nearly 8,000 U.S. of observations.

Alpha 215

Alpha Finance Treasury Equity 215

The Guardian M&A

MAY 3, 2022

US private equity group Clayton, Dubilier & Rice is seeking approval for deal from competition regulator The new owner of Morrisons has offered to sell 87 petrol station forecourts in an effort to gain the competition watchdog’s approval for its £7bn takeover of the UK’s fourth largest supermarket. Continue reading.

Private Equity Firm 98

Private Equity Firm Equity Marketability 98

Harvard Corporate Governance

OCTOBER 21, 2022

IPO Readiness: IPO Equity Awards. Tags: Equity offerings , Incentives , Inflation , IPO framework , IPOs , Shareholder value , Stock options. The Cobalt Conundrum: Net Zero Necessity vs Supply Chain Concerns. Posted by Subodh Mishra, Institutional Shareholder Services, Inc., on Tuesday, October 18, 2022. Posted by Mark T. Uyeda, U.S.

Capital Structure 200

Capital Structure Equity Compliance Banking 200

Harvard Corporate Governance

JULY 24, 2022

We are a globally diversified investor, with approximately USD 404 bn invested in listed equities and USD 137 bn in fixed income in the United States. Better sustainability reporting can also contribute to well-functioning and efficient markets. We work to safeguard and build financial wealth for future generations. more…).

Banking 216

Banking Compliance Equity Marketability 216

Benzinga

JUNE 24, 2022

Barclays PLC (NYSE: BCS ) extends its reach in Britain's housing market with the acquisition of specialist lender Kensington Mortgage Company for 2.3 Kensington is being sold by its private equity owners, Blackstone Inc (NYSE: BX ) and Sixth Street. billion pounds ($2.8 billion), reported Reuters. The deal would.

Marketability 98

Marketability Equity 98

Harvard Corporate Governance

MAY 16, 2022

First, it discusses the heightened importance of understanding the limits of private market bargaining as the SEC considers this new phase of regulatory activity. Second, it provides new insight into how private equity investors think about bargaining problems by introducing recent polling data obtained from institutional investors.

Equity 204

Equity Marketability 204

The Guardian M&A

MARCH 24, 2022

Competition and Markets Authority says deal could lead to higher costs for motorists in 121 areas of Britain Fuel prices, already at record levels , could be pushed higher in 121 locations across the UK as a result of the £7bn takeover of Morrisons by a US private equity firm, the consumer watchdog has said.

Private Equity Firm 98

Private Equity Firm Equity Marketability 98