Harvard Corporate Governance

APRIL 19, 2023

Over the past decade, private equity investment in physician services has emerged as a driving trend toward the financialization of health care, with investors mining health services organizations to extract wealth. For a discussion of Arrow’s theories and evolving health care markets, see this symposium.

Equity 249

Equity Marketability 249

Harvard Corporate Governance

APRIL 22, 2022

Notably, the damage payment received by the outside investors is offset in part by the reduced value of their equity stake. The investors make rational inferences based on the firm’s decision to disclose and, in case it is revealed that the firm hid material information, the investors can bring suit against the firm to recover damages.

Equity Financing 256

Equity Financing Equity Finance 256

Harvard Corporate Governance

SEPTEMBER 7, 2023

Well-run diversity, equity, and inclusion (DE&I) initiatives can yield many benefits, including improved talent attraction and retention rates, better decision-making through diverse perspectives, and stronger relationships with customers, clients, and suppliers. Strine, Jr.;

Equity 234

Equity 234

Harvard Corporate Governance

JUNE 13, 2024

Following the Court’s decision, companies’ diversity, equity, and inclusion (DEI) policies and programs that focus on specific underrepresented (racial) groups have resulted in a rise in backlash and reverse discrimination lawsuits (i.e., Harvard , which eliminated affirmative action in college admissions.

Equity 248

Equity 248

Harvard Corporate Governance

SEPTEMBER 12, 2022

ISS Say-on-Pay and Equity Compensation Plan Voting. The data on say-on-pay negative recommendations derives from ISS publications and SEC disclosure summarizing the rationales with respect to the negative recommendations issued by ISS at annual meetings of Russell 3000 and S&P 500 companies through June 30, 2022.

Equity 244

Equity 244

RNC

APRIL 24, 2025

Understanding Equity Valuation and Fundamental Analysis is essential for investors seeking clarity in their decisions. Equity valuation focuses on determining a company’s intrinsic value to assess whether a stock is undervalued or overvalued. What is Equity Valuation?

Equity 52

Equity Discounted Cash Flow Comparable Company Analysis Price to Earnings 52

Harvard Corporate Governance

FEBRUARY 21, 2024

Posted by Sean Feller, Krista Hanvey, and Christina Andersen, Gibson, Dunn & Crutcher LLP, on Wednesday, February 21, 2024 Editor's Note: Sean Feller and Krista Hanvey are Partners, and Christina Andersen is Of Counsel at Gibson, Dunn & Crutcher LLP.

Equity 229

Equity EBITDA Market Capitalization Marketability 229

Harvard Corporate Governance

FEBRUARY 25, 2023

Posted by Tina Shah Paikeday, and Nisa Qosja, Russell Reynolds Associates, on Saturday, February 25, 2023 Editor's Note: Tina Shah Paikeday is the Global Head of the Diversity, Equity & Inclusion Practice, and Nisa Qosja is a Knowledge Consultant at Russell Reynolds Associates. This post is based on their Russell Reynolds memorandum.

Equity 325

Equity 325

Harvard Corporate Governance

MAY 23, 2023

Posted by Brian R. Cheffins and Bobby V. Reddy (University of Cambridge) , on Tuesday, May 23, 2023 Editor's Note: Brian Cheffins is the S. Berwin Professor of Corporate Law, and Bobby V. Reddy is an Associate Professor of Finance at the University of Cambridge. This post is based on their recent paper , forthcoming in The Company Lawyer.

Equity 217

Equity Marketability Market Capitalization Finance 217

Class VI Partner

MARCH 24, 2025

Rollover equity is a powerful tool that can provide unique benefits to business owners who are selling their company in an M&A transaction. Understanding how rollover equity works, when it is used, and its impact on deal structuring… Source

Equity 52

Equity 52

Harvard Corporate Governance

AUGUST 8, 2024

The ownership, governance and financing of corporate America look radically different today than they did only a few decades ago, due to conflicting trends in the ownership of corporate equity on the one hand and corporate debt on the other. more…)

Marketability 240

Marketability Corporate Finance Equity Finance 240

Harvard Corporate Governance

JUNE 7, 2022

An early examination of 2022 proxy season voting statistics yields a number of notable observations: We have seen several types of proposals that attracted majority support for the first-time this season, including shareholder proposals addressing racial equity and civil rights audits, sexual harassment concerns and gender pay equity.

Equity 344

Equity 344

Sun Acquisitions

APRIL 25, 2025

Increased capital gains taxes can have a far-reaching impact on the business landscape, with ripple effects extending to various sectors, including private equity and venture capital (PE/VC) investments in mergers and acquisitions (M&A).

Equity 100

Equity Dividends Marketability 100

Financial Times M&A

APRIL 15, 2025

Buyout executives say economic uncertainty unleashed by US tariffs has made pricing assets challenging

Equity 136

Equity 136

Harvard Corporate Governance

APRIL 21, 2023

In July 2021, State Street Global Advisors, Russell Reynolds Associates, and the Ford Foundation partnered to study best practices for effective board oversight of racial and ethnic diversity, equity, and inclusion (“ The Board’s Oversight of Racial and Ethnic Diversity, Equity, and Inclusion ”).

Equity 313

Equity Marketability 313

Harvard Corporate Governance

FEBRUARY 2, 2024

Consequently, fund families managing both equity and bond funds are more likely to hold stocks and bonds from the same company simultaneously (“dual holdings”). Using detailed holding data of mutual funds, our paper first documents a rising trend in mutual fund dual holdings of U.S. publicly traded firms.

Corporate Finance 289

Corporate Finance Finance Equity Marketability 289

Harvard Corporate Governance

FEBRUARY 17, 2025

ISS also has provided a preview of possible future policy changes regarding the use of performance-based versus time-based equity awards in US executive compensation programs in its Executive Summary Global Proxy Voting Guidelines Updates for 2025 and Process of ISS Benchmark Policy Development. more…)

Equity 113

Equity 113

Harvard Corporate Governance

AUGUST 15, 2022

Diversity has become a key focus for every industry in recent years, and private equity, like many other parts of the financial sector, still has significant progress to make in terms of diversity and inclusion.

Equity 237

Equity Finance Marketability 237

NYT M&A

JUNE 2, 2025

Private equity firms like Blackstone are using their clients money to buy and build data centers to fuel the artificial intelligence boom.

Private Equity Firm 89

Private Equity Firm Equity Mergers & Acquisitions Technology 89

Harvard Corporate Governance

JUNE 11, 2025

Equity Prevalence and Average Vehicle Mix for CEOs Key Takeaways : Long-term incentive (LTI) designs have become strongly aligned with institutional investor and proxy advisor preferences through increased performance stock and restricted stock units and reduced stock options. This post is based on their Semler Brossy memorandum.

Equity 113

Equity 113

Harvard Corporate Governance

JUNE 12, 2025

Deloitte surveyed 1,500 US-based corporate and private equity professionals in late 2024 to gauge their expectations for M&A activity in the following 12 months and learn more about their experiences with recent transactions (see methodology ). They’re becoming core competencies and the “new normal.”

Equity 113

Equity 113

Harvard Corporate Governance

MAY 28, 2023

Currently, reports on Form PF for private equity fund advisers (usually including real estate and private credit within this category) are filed annually. [2] 2] Unlike many other SEC filings, Form PF filings are not public.

Equity 229

Equity Compliance 229

Harvard Corporate Governance

FEBRUARY 15, 2024

those say-on-pay votes that achieved less than 50% shareholder approval), say-on-golden-parachute results and results of equity plan proposals, as well as recent guidance from the proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis. more…)

Equity 305

Equity 305

Harvard Corporate Governance

APRIL 20, 2023

Shifting from equity to debt financing is not simply a matter of optimizing a firm’s cost of capital, however. Highly leveraged firms are now commonplace in many U.S. industries. It also has profound implications for the firm’s behavior and investor outcomes.

Debt Financing 258

Debt Financing Equity Finance Marketability 258

Financial Times M&A

MARCH 20, 2025

Consortium led by William Chisholm scoops up majority stake in storied sports franchise in historic deal

Equity 143

Equity 143

Harvard Corporate Governance

MARCH 28, 2023

Highlights Base Salary : Approximately 80% of CEOs and CFOs received salary increases Of those who received an increase, the median increase was 4.4% incentive compensation) slightly lower for CFOs (more…)

Equity 230

Equity Market Capitalization Marketability 230

Harvard Corporate Governance

JUNE 27, 2023

It is no exaggeration to say that over its roughly forty-year history, private equity has revolutionized both corporate finance and corporate governance. Today, private equity is one of the major global asset classes, and it has attracted a truly staggering amount of capital over a relatively short period of time.

Corporate Finance 230

Corporate Finance Equity Finance Marketability 230

Financial Times M&A

APRIL 6, 2025

Pensions and endowments seek exit from battered portfolios in blow to buyout industry

Equity 145

Equity Marketability 145

Harvard Corporate Governance

JANUARY 20, 2025

For example, during our sample period, the market share of RI equity funds in Norway constituted about 48% of the total equity mutual fund assets under management, while in Australia the comparable figure is 11% and, in the U.S., a little less than 5%. Thus, the question arises as to the reasons for these wide disparities.

Finance 124

Finance Equity Marketability 124

Harvard Corporate Governance

OCTOBER 6, 2024

and multinational corporations, financial institutions and private equity sponsors. In this alert, we discuss: The continued rollout of the EU’s ambitious, progressive legislative path against the backdrop of continuing regulatory uncertainty in the U.S.;

Equity 250

Equity 250

NYT M&A

MAY 23, 2025

After years in limbo, the British newspaper is set to be bought by RedBird Capital, an American investment firm with many sports, media and entertainment holdings.

Private Equity Firm 93

Private Equity Firm Equity Mergers & Acquisitions 93

Harvard Corporate Governance

OCTOBER 16, 2022

In fact, it was through these enforcement actions, particularly against private equity advisers, that the venture industry learned to become hypervigilant regarding disclosures around conflicts, as well as fees and expenses. The landscape appears to be changing under Gary Gensler’s leadership of the SEC.

Equity 256

Equity 256

Harvard Corporate Governance

AUGUST 5, 2024

In this year’s proxy roundup, we have analyzed the use of environmental, social and governance (“ESG”) metrics in cash and equity incentive plans among the largest 100 public companies. [1] However, incentive plans can also pay out in part or in full on the basis of nonfinancial metrics, including ESG metrics.

Equity 254

Equity 254

Harvard Corporate Governance

SEPTEMBER 2, 2023

operational and reputational) and risk appetite; equity; governance; and the role of the board. As companies continue to explore and invest in AI, they also are tasked with considering numerous business implications, such as ethics, compliance, and regulatory processes; risks (e.g.,

Technology 331

Technology Compliance Equity 331

Harvard Corporate Governance

APRIL 8, 2024

The argument is that the point of saying that fiduciary duties are owed to the corporate entity is to fix those duties on the one thing that is essential about that entity, which is to say, the permanent equity capital.

Equity 235

Equity 235

Musings on Markets

JUNE 2, 2025

US equities were actually up on that day, though they lost ground in the subsequent days: If equity markets were relatively unscathed in the two weeks after the downgrade, what about bond markets, and specially, the US treasury market?

Risk Premium 116

Risk Premium Marketability Start-ups Risk-free Rate 116

Harvard Corporate Governance

AUGUST 13, 2024

Introduction Publicly traded firms face pressure from equity market investors with short investment horizons. This post is based on their recent article published in the Journal of Financial Economics. This forces companies to make decisions that favor immediate gains over long-term value creation.

Finance 277

Finance Equity Marketability 277