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Board Reforms, Stock Liquidity, and Stock Market Development

Harvard Corporate Governance

Thus, over the past decades we have observed the introduction of a series of board reforms to improve board monitoring on corporate managers in numerous countries around the world and such reforms are shown to have increased firm value (Fauver, Hung, Li, and Taboada, 2017).

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Deregulation and Board Policies: Evidence from Performance Measures Used in Bank CEO Turnover Decisions

Harvard Corporate Governance

In contrast, most variation in CEO wealth stems from changes in the value of stock and option holdings, so the incentives arising from the CEO’s compensation are partly delegated to the equity markets (Hall and Liebman 1998; Edmans, Gabaix, and Jenter 2017).

Banking 197
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How Private Rights of Action in Securities Laws Affect the Capital Markets

Reynolds Holding

Few topics in the corporate and securities law literature are as controversial as securities class actions – that is, actions in which shareholders of public firms seek to collectively obtain compensation for damages resulting from false or misleading statements in corporate disclosures. National Australia Bank Ltd.

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ESG Investing Clearly Serves Pecuniary Interests

Reynolds Holding

In July, 2017, the stock of NYSE-traded Tahoe Resources dropped 33 percent when the Supreme Court of Guatemala suspended its license to operate the world’s third-largest silver mine. [14] Mining.com, July 6, 2017. Filed by: Shin Imai, Justice and Corporate Accountability Project, May 8, 2017. Available here. [14] Choi, Mary C.

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Pay for Prudence

Reynolds Holding

As in other industries, a bank’s shareholders and board of directors provide incentives for management to maximize firm value. While bank shareholders may prefer risky actions that are likely correlated with increases in shareholder value, they must also gauge the likelihood of regulatory intervention. Coles et al.

Banking 52
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What the Rise of Indexing Means for Corporate Governance

Reynolds Holding

Fahlenbrach (2017). Do Exogenous Changes in Passive Institutional Ownership Affect Corporate Governance and Firm Value? Michaely, and M.C. Ringgenberg (2022). Do Index Funds Monitor ? Review of Financial Studies 35, 91-131; Schmidt, C., Journal of Financial Economics 124, 285-306. [4] 4] Brav, A., Pinnington (2022).

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The Uncertain Role of Institutional Investors in Promoting Corporate Diversity

Reynolds Holding

On March 7, 2017, the eve of International Women’s Day, State Street Global Advisors initiated its “Fearless Girl” campaign, an effort to increase the number of female directors on the boards of its portfolio companies. [1] 13, 2017), [link] [3] See Todd A. Gormley, Vishal K. Gupta, David A. Matsa, Sandra C.

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