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How Board Gender Diversity Affects the Relation between CSR and Firm Value

Reynolds Holding

Research shows that socially responsible activities enhance firm value while irresponsible social activities destroy value and that firms with more women directors tend to do better on social and environmental issues.

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Does Mandatory Board Gender Balancing Reduce Firm Value?

Reynolds Holding

As a social-policy instrument, forced board-gender balancing is in principle unrelated to firms’ economic performance. Nonetheless, imposing such a policy may have unintended consequences (positive or negative) for firm value, which is important for all of a firm’s constituencies – not only shareholders – to understand properly.

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The Emergence of Welfarist Corporate Governance

Harvard Corporate Governance

Portfolio welfarism starts from the observation that shareholders’ economic interest lies in maximizing portfolio value not firm value. Shareholder welfarism resembles portfolio welfarism in that both, while accepting the primacy of shareholder interests, give weight to shareholder interests other than firm value.

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The Irrelevance of Delaware Corporate Law

Harvard Corporate Governance

Efficient laws should enhance firm value. If so, under the generally accepted measure of quality (efficiency and firm value), corporate law would be irrelevant. Is Delaware corporate law relevant? Relevance is a relational concept. Relevant to what? Rules of corporate law are considered in efficiency’s light.

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Statement by Commissioner Peirce on Share Repurchase Disclosure Modernization

Harvard Corporate Governance

The release points out that share repurchases could be “conducted to increase management compensation or to affect various accounting metrics,” rather than to increase firm value. [1] 1] Some people would argue that issuers should use excess cash to increase employee wages or fund research and development.

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UK chip designer Arm valued at $51 a share ahead of Wall Street IPO

The Guardian M&A

British tech firm valued at $52.3bn before highly anticipated flotation on Nasdaq by private owner SoftBank The British chip designer Arm has secured a $52.3bn (£41.9bn) valuation in its initial public offering (IPO), before its highly anticipated return to the stock market in New York on Thursday.

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Delegated Gender Diversity

Harvard Corporate Governance

The literature provides mixed evidence on the impact of female board representation on firm value. The skillset view holds that female directors have unique skills and risk appetites that complement the skillsets of male directors, resulting in a diversity premium and higher firm value.