Harvard Corporate Governance

OCTOBER 25, 2023

Disney’s board was facing complex strategic challenges that included, among others, the weak performance of Disney+ -the streaming business launched in 2019-, a falling share price, technology disruption threatening its core business, unsustainable debt levels, and the rising geopolitical risk in China.

Compliance 310

Compliance Technology Equity Marketability 310

Harvard Corporate Governance

NOVEMBER 2, 2022

Private debt funds raise capital commitments through closed-end funds (like private equity) and make senior loans (like banks) directly to, mostly, middle-market firms (i.e. firms with annual revenue between $10 million and $1 billion). Despite its explosive growth, the private debt market remains relatively understudied.

Banking 218

Banking Equity Marketability Finance 218

The Guardian M&A

OCTOBER 19, 2023

Arriva was put up for sale in 2019 by its German owner, Deutsche Bahn, which had originally sought to offload the company to reduce its own debts. Continue reading.

Private Equity Firm 111

Private Equity Firm Equity 111

Global Finance

JUNE 17, 2024

A 10-year veteran at DBS Bank, Karoonyavanich recently expanded his role to cover all Equity Capital Markets business for the bank globally when the firm merged its equities, fixed income and brokerage businesses to form a new Investment Banking unit. Its Hong Kong market share surged from a mere 0.2% in 2021 to an impressive 6.7%

Equity 111

Equity Marketability Banking Start-ups 111

Musings on Markets

JANUARY 21, 2023

In this post, I will begin by chronicling the damage done to equities during 2022, before putting the year in historical context, and then examine how developments during the year have affected expectations for the future. Actual Returns Your returns on equities come in one of two forms. Stocks: The What?

Equity 95

Equity Risk Premium Start-ups Dividends 95

Law 360 M&A

DECEMBER 7, 2022

told Delaware's chancellor Wednesday that a suit challenging a nearly $70 million merger and sale of most company equity in 2019 failed to overcome director business judgment deference, despite objections from wiped-out common stockholders. An attorney for independent directors of cyber risk modeling business RedSeal Inc.

Equity 52

Equity 52

Harvard Corporate Governance

AUGUST 19, 2022

CFO turnover is running high, with 2021 surpassing 2020 and 2019 churn rates, Russell Reynolds Associates’ recent analysis of the S&P 500 revealed. (discussed on the Forum here ) by Jesse M. Fried; and Duty and Diversity (discussed on the Forum here ) by Chris Brummer and Leo E. Strine, Jr. more…).

Equity 159

Equity Marketability 159

Financial Times M&A

OCTOBER 17, 2022

Three-quarters of US companies that listed in 2019-21 now trade below offering price

Equity 75

Equity 75

Harvard Corporate Governance

OCTOBER 2, 2024

In 2019, California’s Assembly Bill No. In 2019, California’s Assembly Bill No. The bill became law in September 2020, following the rise of the Black Lives Matter (BLM) movement, which sparked a nationwide call for racial equity and placed additional social pressure on companies to diversify their leadership.

Finance 166

Finance Equity 166

Harvard Corporate Governance

MARCH 24, 2022

After a slow 2019 and a pandemic-battered 2020, new issues came roaring back last year—3,021 listings (inc. Related research from the Program on Corporate Governance includes SPAC Law and Myths by John C. Coates (discussed on the Forum here ). The global IPO market made up for lost time in 2021. SPACs) raised US$601.2 trillion.

Marketability 246

Marketability Equity 246

Harvard Corporate Governance

JANUARY 10, 2023

Recent research suggests that differences between the economic and legal definitions of materiality can impose adverse consequences on equity investors. This post is based on their recent paper , forthcoming in The Accounting Review. We explore this issue in the context of redacted Securities and Exchange Commission (SEC) filings.

Marketability 184

Marketability Equity 184

Musings on Markets

JUNE 17, 2025

For more established private businesses, some of which need capital to grow and some of which have owners who want to cash out, the capital has come from private equity investors. The payoff from doing so takes the form of "excess returns" which will supplement the benefits that flow from just diversification.

Alpha 75

Alpha Equity Marketability Start-ups 75

Global Finance

FEBRUARY 28, 2025

In 2019, Vinod Khosl, founding CEO of Sun Microsystems and founder of Khosla Ventures, told Sam Altman: 90% of VCs do not bring any value to startups, and 70% even harm them.

Finance 80

Finance Equity Corporate Finance 80

Harvard Corporate Governance

FEBRUARY 14, 2023

In the fourth quarter of 2019, the assets of ESG-based mutual funds stood globally at nearly $1 trillion. equity mutual funds. ESG (Environmental, Social, and Governance) investing—alternatively, socially responsible investing or sustainable investing—is growing rapidly in popularity. climate’ or ‘social’).

Finance 256

Finance Equity Marketability 256

Viking Mergers

AUGUST 19, 2022

million more Boomers than in the same quarter of 2019. Losing Equity. Transitioning equity into cash at the right time with the right advisor’s help can make a tremendous difference. The data is in, and we can see that, indeed, the pandemic accelerated the Boomer generation’s exit from the labor force.

Start-ups 130

Start-ups Equity Banking 130

Value Scope

JULY 21, 2020

First, on December 17th, 2019, SEC Commissioner Hester Peirce went on live television to call for greater oversight of how ESG is used by companies and the investment community. “The By that time, more than $17 billion had been invested into sustainable-focused ETFs and open-end funds during 2019. Sources: [1] [link]. [2]

Intangible Assets 130

Intangible Assets Beta Alpha Unlevered Beta 130

Reynolds Holding

AUGUST 2, 2023

2019) , for example, strong ESG performance correlates positively with higher equity returns and a reduction in downside risk. In a new paper, we address the impact of ESG ratings on a firm’s financial performance by studying how those ratings affect the cost of equity (COE). Sussman (2019). Nuttall (2019).

Equity 40

Equity Specific Risk Equity Financing Dividends 40

Reynolds Holding

SEPTEMBER 18, 2024

Today [September 18], the Commission will consider updating rules for the $55 trillion equity markets. In 1975, Congress tasked the Securities and Exchange Commission with responsibility to facilitate the establishment of the national market system and enhance competition in the securities markets, including the equity markets.

Equity 53

Equity Marketability Start-ups Finance 53

ThomsonReuters

NOVEMBER 25, 2020

This question is quite apropos in light of the controversy that has surrounded the topic for years, with CEOs of major US companies going from earning 21 times as much as the typical worker in 1965 to earning 320 times as much in 2019. To help put things in perspective, Mr. Bastian’s base salary in 2019 represented just 5% of his total pay.

Equity 98

Equity Banking 98

Reynolds Holding

OCTOBER 21, 2024

What GameStop put on display was how much has changed—in technology and business models—since 2005 when we last comprehensively updated our equity market rules. The markets have moved to overwhelmingly trade electronically, with transaction volume in listed equities tripling in the last 17 years. [3] 6] The $55 trillion U.S.

Equity 45

Equity Marketability Start-ups Treasury 45

Global Finance

JUNE 4, 2024

But a private equity firm’s tactics had a hand in Red Lobster’s demise, too. When Thai Union was a 49% stakeholder, it muscled out rival shrimp suppliers and inked an expensive—and more exclusive—deal for itself. This left Red Lobster, founded in 1968, with “burdensome supply obligations,” Tibus said.

Finance 105

Finance Equity Marketability Corporate Finance 105

Farrel Fritz

JUNE 6, 2022

Disputes over capital accounts and equity percentages are frequent fodder for business divorce litigation — especially in LLCs without operating agreements. LLC member based on an allegation that its capital contribution was a disguised loan. Moskowitz v Fischer. Moskowitz allegedly took Fischer “at his word.”

Equity 52

Equity Accounting Firms Appraisal 52

Benzinga

DECEMBER 6, 2023

Since 2019, the solid execution of strategy has increased the earnings power of the corporation, adding about $10 billion to its annual earnings and cash flow at a real Brent price of $60 per barrel, ExxonMobil said. Exxon Mobil Corporation (NYSE: XOM ) said it expects oil and gas production in 2024 to be about 3.8

Equity 105

Equity Marketability 105

Equidam

JUNE 10, 2025

This guide explains what BSPCEs are, how they compare to other equity incentives (like free shares/AGA, stock options, or RSUs), and the process of obtaining a BSPCE valuation. This win-win tax treatment for both employee and employer is why BSPCEs are considered one of the most favorable equity schemes in Europe.

Fair Market Value 59

Fair Market Value Start-ups Equity Compliance 59

Viking Mergers

JULY 28, 2022

After a ten-year SEAL career, Ian completed his last deployment in 2019 and moved from San Diego, CA, back to Nashville to raise his daughter here, close to family. Ian is the most recent addition to our Nashville, TN, market, and he joins the Viking team from a private equity and portfolio management organization. What is an Earnout?

Private Equity Firm 130

Private Equity Firm Equity Business Valuation Marketability 130

Equidam

JUNE 23, 2025

Over the decade 2009-2019, only 0.24% of UK venture capital went to Black founders, with 0.02% going to Black female founders. Virgin StartUp’s Empower 100 program provides fully-funded acceleration for diverse founders, and Google’s Black Founders Fund and 1000 Black Voices offer non-equity support. in Q4 2024.

Equity 64

Equity B2B Marketability Banking 64

Musings on Markets

FEBRUARY 12, 2022

In the midst of all the action, to no one's surprise, have been six stocks (Facebook, Amazon, Netflix, Google, Apple and Microsoft or FANGAM) that have largely driven US equities for the last decade, roiling the market with their most recent earnings reports. to 14.9%.

Market Capitalization 104

Market Capitalization Equity Marketability Start-ups 104

Law 360 M&A

DECEMBER 3, 2024

is liable for an extra $1 per share plus interest to stockholders of the fitness software company but reversed the lower court's finding that Vista Equity Partners Management LLC, which acquired Mindbody in 2019, aided and abetted the executive.

Equity 52

Equity 52

Benzinga

NOVEMBER 18, 2024

As part of this transaction, Nordic Capital would become the controlling shareholder of Anaqua, succeeding Astorg, who has been the primary investor in Anaqua since 2019, and has supported Anaqua's strong and consistent growth over the past five years. BOSTON, Nov. BOSTON, Nov.

Technology 40

Technology Equity Enterprise Value Marketability 40

Brian DeChesare

SEPTEMBER 13, 2023

Ask anyone interested in distressed debt hedge funds for “the pitch,” and they’ll probably mention one of the following: “It’s like long/short equity or credit , but more interesting!” Distressed investing offers equity-like returns with lower risk.” Distressed assets offer non-correlated returns, similar to global macro.”

Equity 103

Equity Banking EBITDA Start-ups 103

Benzinga

APRIL 29, 2024

GRAND CAYMAN, Cayman Islands, April 29, 2024 (GLOBE NEWSWIRE) -- Patria Investments ("Patria") (NASDAQ: PAX ), a global alternative asset manager and industry leader in Latin America, confirmed today that it has completed the previously announced carve-out acquisition of a private equity solutions business ("abrdn Private Equity") from abrdn Inc.

Equity 40

Equity Marketability 40

Musings on Markets

NOVEMBER 14, 2024

My voyage with ESG began with curiosity in my 2019 exploration of what it purported to measure, turned to cynicism as the answers to the Cui Bono (who benefits) question became clear and has curdled into something close to contempt, as ESG advocates rewrite history and retroactively change their measurements in recent years.

Start-ups 99

Start-ups Banking Alpha Marketability 99

Brian DeChesare

MARCH 13, 2023

Banks’ lending activities are constrained by: Regulatory Capital – All banks must maintain a certain amount of common shareholders’ equity to absorb unexpected losses on loans and other assets. These are marked to market value and do affect the bank’s common equity and regulatory capital ratios, such as its CET 1 Ratio.

Banking 123

Banking Start-ups Equity Treasury 123

Equidam

FEBRUARY 19, 2023

As a founder, you can’t control external influences like general supply and demand for startup equity or the number of competing deals, but you can do your best to make sure that opinion on your value is based as firmly in reality as possible. Consider the usual amount of equity offered at each stage.

Start-ups 98

Start-ups Venture Capital Fund Equity Intangible Assets 98

Musings on Markets

MAY 20, 2022

In my last post , I discussed how inflation's return has changed the calculus for investors, looking at how inflation affects returns on different asset classes, and tracing out the consequences for equity values, in the aggregate.

Price to Book 103

Price to Book Dividends Beta Equity 103

IVSC

JUNE 12, 2023

Srividya has advised several global and Asian alternative investment funds including sovereign wealth funds, private equity, private credit and venture capital investors as well as clients across a variety of sectors such as technology, life sciences, manufacturing, consumer products, energy & resources etc.

Risk-free Rate 130

Risk-free Rate Intangible Assets Appraisal Business Valuation 130

Musings on Markets

FEBRUARY 12, 2025

If you are a shareholder in a company, i.e., an equity investor, the measure that best reflects the profits the company made on the equity you invested in them is the earnings per share. In addition, accounting decisions to write off an asset or take restructuring charges will make the calculation of invested capital more difficult.

Equity 74

Equity Start-ups Banking EBITDA 74