Harvard Corporate Governance

AUGUST 20, 2024

The Massachusetts legislative session for 2024 has come to a close without the passage of a bill that would have targeted private equity in healthcare. The end of the Massachusetts legislative session without the passage of a bill on this matter comes as a reprieve in a moment of escalating tension for investors in the healthcare sector.

Equity 122

Equity Marketability 122

Harvard Corporate Governance

AUGUST 10, 2022

A wide range of research examines the market for CEOs and executive mobility in public companies while largely ignoring the market for CEOs in private equity funded companies. companies (enterprise value greater than $1 billion) purchased by private equity firms between 2010 and 2016. times on its equity investment.

Equity 265

Equity Marketability Private Equity Firm Enterprise Value 265

Harvard Corporate Governance

OCTOBER 5, 2023

Russell 3000 equity plan proposals are facing historically low shareholder support and higher failure rates in 2023. These headwinds likely reflect both increased shareholder and proxy advisor expectations in equity plan sizing and increased share usage pressure at companies in depressed markets. more…)

Equity 130

Equity Marketability 130

Harvard Corporate Governance

JANUARY 13, 2024

In our memo early last year, we noted that private equity investors and dealmakers faced considerable uncertainty heading into 2023 following a challenging 2022. Not many would have predicted the rebound in equity markets in the second half of 2023 or the rising (for now) prospects of a soft landing for the broader U.S.

Equity 164

Equity Finance Marketability 164

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 246

Equity 246

Harvard Corporate Governance

JUNE 18, 2024

The private equity business model has reinvented itself over the years, with continuation funds now serving as its latest development. These funds offer a creative solution to circumvent the constraints of the traditional private equity model by enabling fund sponsors to retain assets beyond the customary 10-year fund term.

Equity 112

Equity Marketability 112

Harvard Corporate Governance

APRIL 28, 2022

Wang (discussed on the Forum here ); and Share Repurchases, Equity Issuances, and the Optimal Design of Executive Pay by Jesse M. 2013 ) and specifically the CEO ( Moore, 2020 ) are more likely to sell equity when firms buy back stock. 2021) present evidence consistent with stock price manipulation around the vesting of CEOs’ equity.

Equity 263

Equity Finance Marketability 263

Harvard Corporate Governance

OCTOBER 20, 2022

This article focuses on understanding practices related to equity awards made at or around IPO. More specifically, we examined the prevalence and timing of IPO grants, the type of equity vehicles used, and the size of IPO award pool among 400+ IPOs from January 1, 2021 through December 31, 2021.

Equity 146

Equity Marketability 146

Equidam

AUGUST 21, 2024

Invested capital, equity stake and valuation: how are they connected? Investors will typically have an ownership target in mind, and potentially a typical investment amount, so you will need to negotiate around that to ensure you get sufficient capital in return for a reasonable amount of equity.

Equity 113

Equity Start-ups Finance Marketability 113

Harvard Corporate Governance

DECEMBER 13, 2023

During the 2023 proxy season in North America there was a surge of shareholder opposition on equity plans, with a rare failure in Canada and a significant rise in failures among U.S. Executive compensation continues to be an area of great interest to investors as companies seek to align the long-term interests of management and shareholders.

Equity 170

Equity 170

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 248

Equity Marketability 248

Financial Times M&A

OCTOBER 10, 2024

Holdings of Platinum Equity and Clearlake Capital are at heightened risk of default, rating agency says

Equity 105

Equity 105

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 233

Equity 233

Harvard Corporate Governance

OCTOBER 12, 2022

Investment in environmental, social and governance (ESG) factors is a top priority for private equity, and it has been for quite some time. In fact, 72% of large private equity firms with annual revenues of $50 million to $1 billion have incorporated ESG strategies into their portfolio of asset classes. [2]. Strine, Jr.

Equity 243

Equity Private Equity Firm Compliance 243

Brian DeChesare

MARCH 13, 2024

Over the past few decades, growth equity (GE) has gone from an afterthought to a major asset class for huge investment firms. Some argue that GE offers the best of both worlds: the opportunity to fund innovation and growth – as in venture capital – plus the ability to limit downside risk and invest in proven companies – as in private equity.

Equity 105

Equity Start-ups Marketability Banking 105

Law 360 M&A

JULY 16, 2024

Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.

Equity 98

Equity 98

NYT M&A

MARCH 18, 2024

Private equity is cannibalizing the music industry by buying up old hits and pushing them back into our cultural consciousness.

Equity 145

Equity Mergers & Acquisitions 145

Harvard Corporate Governance

SEPTEMBER 5, 2023

More pay equity-related proposals see significant levels of shareholder support. Pay equity, a significant focus for investors and activists, saw increased shareholder proposal activity in the first half of 2023. This post is based on an Orrick memorandum by Mr. Ho, Mr. Bee, Mr. Goudy, Crystal Milo , and Carolyn Frantz. more…)

Equity 112

Equity 112

Harvard Corporate Governance

MARCH 22, 2022

This post is based on his recent paper, The Law and Economics of Equity Swap Disclosure , which is in turn based on a comment letter he filed with the Securities and Exchange Commission in response to a request for comments on its proposal regarding the disclosure of equity swaps. 34-93784 (the “Release”).

Equity 189

Equity Finance 189

Reynolds Holding

SEPTEMBER 30, 2024

It is well-known that equity is a central part of corporate law, and courts do not hesitate to remind litigants of that fact. Yet, a fuller appreciation of what equity means for corporate law is still lacking. Loyalty itself may also call for equity. This post comes to us from professors Andrew S. Smith at Harvard Law School.

Equity 59

Equity Marketability 59

Startup Valuation Blog

AUGUST 10, 2023

To delve deeper into the world of equity incentives and discover how they can revolutionize your startup's growth strategy, keep reading below As the founder of a startup, one of your key responsibilities is to attract and retain top talent that can drive your company's growth and success. Why Are They Important for Startups?

Equity 100

Equity Business Valuation Compliance Start-ups 100

Startup Valuation Blog

AUGUST 10, 2023

To delve deeper into the world of equity incentives and discover how they can revolutionize your startup's growth strategy, keep reading below As the founder of a startup, one of your key responsibilities is to attract and retain top talent that can drive your company's growth and success. Why Are They Important for Startups?

Equity 100

Equity Business Valuation Compliance Start-ups 100

Benchmark Report

MARCH 8, 2024

Private Equity (PE) or Private Equity Groups (PEGs) combine large amounts of capital from various sources and directly invest it in private companies or the buyout of public companies (resulting in the delisting of public equity from the stock exchange).

Equity 64

Equity 64

Benchmark Report

APRIL 29, 2024

Selling equity in your privately owned company can be an effective tool if you plan to grow your business or begin to plan your exit strategy.

Equity 101

Equity 101

Viking Mergers

MAY 11, 2022

If you have ever looked into selling a business, you may have learned that there are many types of buyers and deal structures, from employee buyouts, strategic acquisitions, to private equity firms. We have noticed many misconceptions about a particular kind of buyer: the private equity firm. What Do Private Equity Firms Do?

Private Equity Firm 130

Private Equity Firm Equity Venture Capital Fund Finance 130

Reynolds Holding

OCTOBER 3, 2024

In a new paper , we explore the role of equity financing in supporting firms during the pandemic. Specifically, we examine how receiving equity financing affected stock performance, financial distress, and firms’ pay outs and investment decisions. We find that there is merit in raising equity during an economic downturn.

Equity 45

Equity Equity Financing Dividends Finance 45

Law 360 M&A

JULY 2, 2024

The holder of a Massachusetts social equity cannabis license says several entities affiliated with a marijuana brand created by hip hop artist Berner are trying to stiff him out of $2 million they agreed to pay for a stake in his Worcester dispensary, while still trying to assert control over it.

Equity 98

Equity 98

Harvard Corporate Governance

NOVEMBER 8, 2022

Decoupling”—the unbundling of the rights and obligations of equity and debt through derivatives and other means—has posed unique challenges for corporate and debt governance. In 2021 and 2022, the Securities and Exchange Commission (SEC) voted out proposals directed at decoupling, as well as other proposals that may affect decoupling.

Equity 201

Equity Banking Finance Marketability 201

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 255

Equity Financing Equity Finance 255

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

Mckinsey and Company

JANUARY 4, 2024

Japanese private equity is a growing presence in the financial landscape, and private equity firms can help Japanese companies fulfil their potential.

Equity 94

Equity Private Equity Firm 94

Mckinsey and Company

FEBRUARY 22, 2024

But first, they need a clear equity story. Sophisticated investors are more likely to afford a company more time to let its strategy play out, even during volatility.

Equity 132

Equity Corporate Finance Finance 132

Mckinsey and Company

AUGUST 1, 2024

Private equity firms can reach greater heights by integrating generative AI into their businesses, but getting started requires a thoughtful approach.

Private Equity Firm 91

Private Equity Firm Equity 91

Mckinsey and Company

MARCH 1, 2024

A new wave of software investing is on the horizon as private equity looks to create value through software portfolio companies.

Equity 98

Equity Corporate Finance Finance 98

Brian DeChesare

JANUARY 24, 2024

Let’s start with the elephant in the room: yes, we’ve covered the growth equity case study before, but I’m doing it again because I don’t think the previous examples were great. So, you can think of this example and tutorial as “Growth Equity Case Study: The Final Form.” They over-complicated the financial model (e.g.,

Equity 105

Equity Private Equity Firm Start-ups Comps 105

Mckinsey and Company

JANUARY 13, 2023

Leaders need clarity on what works to improve diversity, equity, and inclusion. Our 2023 report shows success factors that contributed to significant, quantifiable, scalable, and sustainable DEI impact.

Equity 120

Equity 120

Reynolds Holding

APRIL 16, 2024

For most of its history, the private equity industry was largely left alone by securities regulators. A basic assumption underlying this approach was that private equity fund investors are sophisticated and should therefore be able to engage in effective private ordering without outside assistance. 2013; Andonov et al.

Equity 59

Equity Start-ups Marketability 59