Harvard Corporate Governance

MARCH 22, 2023

Deal activity declined from 2021, but finished the year above pre-pandemic levels. Now more than ever, creative financing and careful transaction planning are essential. Acquisitions and Exits Deal Activity Down From 2021, But Above Pre-Pandemic Levels. trillion in 2021 to $1.4 private equity showed resilience in 2022.

Equity 240

Equity Finance Marketability 240

Harvard Corporate Governance

JULY 20, 2022

With Staff Legal Bulletin 14L, the SEC Division of Corporation Finance Staff realigned its approach for determining whether a proposal relates to “ordinary business” with a previous standard providing an exception for certain proposals raising significant social policy issues. more…).

Corporate Finance 214

Corporate Finance Finance 214

Harvard Corporate Governance

AUGUST 23, 2023

During the 2021 proxy season, 5.4% In our sample, spanning from 2014 to 2021 proxy seasons, 83% of proposals on director elections and 90% of meetings have at least one rationale. This post is based on their recent paper. of all votes and 15.3% of votes against directors had a rationale.

Finance 243

Finance 243

Reynolds Holding

NOVEMBER 28, 2022

In advancing this view, Congress and the regulators appear to be following a path laid out by crypto companies seeking legitimacy through inclusion (on their own terms), in regulated finance. In fact, despite the “dress-up” clothes it wears, crypto trading isn’t finance or financial services at all. Crypto and the Purpose of Finance.

Finance 112

Finance Banking Marketability Treasury 112

Accountancy Today

OCTOBER 4, 2023

FRP Corporate Finance has announced its team has advised management and private equity investment manager Foresight Group LLP on its sale of e-commerce personalisation platform, Fresh Relevance for £25m. Foresight’s exit to Dotdigital has generated a cash-on-cash return of 4.0x

Corporate Finance 98

Corporate Finance Finance eCommerce Equity 98

Harvard Corporate Governance

SEPTEMBER 28, 2023

Posted by Angel Tengulov (University of Kansas School of Business), on Thursday, September 28, 2023 Editor's Note: Angel Tengulov is an Assistant Professor of Finance at the University of Kansas School of Business. This post is based on a working paper by Franklin Allen , Marlene Haas, Matteo Pirovano, and Angel Tengulov.

Marketability 229

Marketability Finance Equity 229

Reynolds Holding

MAY 30, 2022

Decentralized Finance (DeFi) employs blockchain technology and smart contracts with the goal of enabling perfectly disintermediated financial markets. In fact, the number of newly established active CFs has substantially grown over the last four years to more than 850 at the end of 2021, with a surge in total assets under management from $8.3

Finance 103

Finance Venture Capital Fund Alpha Marketability 103

Harvard Corporate Governance

AUGUST 18, 2022

Posted by Kristina Minnick (Bentley University), on Thursday, August 18, 2022 Editor's Note: Kristina Minnick is Stanton Professor of Finance at Bentley University. Starks , Professor of Finance at the University of Texas at Austin McCombs School of Business. This post is based on a recent paper by Professor.

Finance 240

Finance Marketability 240

Harvard Corporate Governance

JUNE 13, 2022

is the Pierrepont Family Professor of Law, Co-Director of the Institute for Corporate Governance and Finance at NYU School of Law, and a former Commissioner at the U.S. Taylor (The Wharton School), and Bradford Lynch (The Wharton School), on Monday, June 13, 2022 Editor's Note: Robert J. Jackson, Jr.

Finance 312

Finance 312

Accountancy Today

MARCH 1, 2023

FRP Corporate Finance has advised on the pre-pack sale of Truphone Limited, a global mobile communications company, to TP Global Operations Limited, in a transaction that saves around 450 jobs.

Corporate Finance 104

Corporate Finance Finance Compliance Technology 104

ThomsonReuters

JANUARY 3, 2022

Supply-chain finance is nothing new; it’s been?around Greensill Capital collapsed in early 2021 when it lost financing after its shady practices came to light. Understanding the supply-chain finance process. In general, the financing arrangement is one where: . And lenders get their financing fees.

Finance 98

Finance Compliance Banking 98

Harvard Corporate Governance

NOVEMBER 28, 2022

Posted by Rüdiger Fahlenbrach (Ecole Polytechnique Fédérale de Lausanne), on Monday, November 28, 2022 Editor's Note: Rüdiger Fahlenbrach is Swiss Finance Institute professor at Ecole Polytechnique Fédérale de Lausanne (EPFL) College of Management. unicorns since the beginning of the 2000s until the end of the third quarter of 2021.

Intangible Assets 240

Intangible Assets Finance Marketability 240

Harvard Corporate Governance

MAY 16, 2023

In the midst of the COVID-19 pandemic, in early 2021, the US stock market experienced a rather unusual phenomenon. Kauper Professor of Law at the University of Michigan, and Alex Lee is Professor of Law at Northwestern Pritzker School of Law. This post is based on their recent paper , forthcoming in the Southern California Law Review.

Corporate Finance 263

Corporate Finance Finance Technology Marketability 263

Harvard Corporate Governance

AUGUST 10, 2022

Kaplan is the Neubauer Family Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business; and Vladimir Mukharlyamov is Assistant Professor of Finance at the McDonough School of Business at Georgetown University. This post is based on their recent paper.

Equity 265

Equity Marketability Private Equity Firm Enterprise Value 265

Harvard Corporate Governance

JUNE 14, 2022

By the end of 2021, this had grown to 4,375 investors, representing $121 trillion. This post is based on their recent paper. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance by Lucian A.

Finance 244

Finance Marketability 244

Harvard Corporate Governance

JUNE 20, 2023

Kacperczyk , Professor of Finance at Imperial College London Business School, and Peter R. In our recent research, we show how such transition risk exposure is already priced into equities and bonds issued by publicly-traded corporations ( Bolton and Kacperczyk, 2021 ; Lazard Climate Center, 2021 ; Bolton et al.,

Finance 214

Finance Equity Marketability 214

Harvard Corporate Governance

OCTOBER 16, 2023

In November 2021, the staff of the Division of Corporation Finance (the “Staff”) of the SEC issued Staff Legal Bulletin No. For additional information regarding SLB 14L, see our Legal Update, “SEC Staff Issues Legal Bulletin Announcing Shift in Shareholder Proposal Review Process Ahead of 2022 Proxy Season,” dated November 8, 2021. [2]

Corporate Finance 230

Corporate Finance Finance 230

Brian DeChesare

OCTOBER 4, 2023

And that is exactly what happened when I watched Dumb Money , the movie about the GameStop short squeeze in 2021 , the other day. I wrote about the GameStop short squeeze back when it happened in February 2021, and it turned into the most popular article of the year. I wrote many articles about it.

Finance 105

Finance Start-ups Banking Marketability 105

Harvard Corporate Governance

FEBRUARY 14, 2023

Hank Professor of Finance at University of Notre Dame Mendoza College of Business; Timothy B. Riley is Assistant Professor in the Department of Finance at the University of Arkansas; and Rafael Zambrana is Assistant Professor of finance at the University of Notre Dame. This post is based on their recent paper.

Finance 256

Finance Equity Marketability 256

Harvard Corporate Governance

JANUARY 7, 2023

After a record-shattering year for M&A in 2021, a crescendo that built over a decade, powered by unique pandemic conditions, 2022 was, statistically, a reversion to the mean. trillion in 2021 and an average of $4.3 Now, more than ever, thoughtful regulatory strategy and creative financing approaches deserve special focus.

Finance 250

Finance 250

Harvard Corporate Governance

JULY 8, 2023

Key Points Companies lodged fewer no-action requests for the exclusion of shareholder proposals in the 2023 proxy season after the SEC Staff outlined new guidelines in 2021 and the Staff rejected many requests in the 2022 season. This post is based on their Skadden memorandum.

Corporate Finance 223

Corporate Finance Finance 223

Harvard Corporate Governance

AUGUST 3, 2023

McDonough Professor of Finance and Director, Georgetown Center for Financial Markets and Policy, Sandeep Dahiya is the Akkaway Professor of Entrepreneurship, and Umit Yilmaz is a Postdoctoral Fellow at Georgetown University.This post is based on their recent paper. Notably, in 2021, activist investor Engine No.

Finance 189

Finance Marketability 189

Harvard Corporate Governance

FEBRUARY 21, 2023

Merton (1970) Professor of Finance at MIT Sloan School of Management, Antoinette Schoar is the Stewart C. Myers-Horn Family Professor of Finance at MIT Sloan School of Management, and Yang Sun is Assistant Professor of Finance at Brandeis International Business School.

Marketability 214

Marketability Finance Equity 214

Harvard Corporate Governance

APRIL 28, 2022

2021) present evidence consistent with stock price manipulation around the vesting of CEOs’ equity. This post is based on their recent paper. Related research from the Program on Corporate Governance includes Short-Termism and Capital Flows by Jesse M. For example, earlier research finds that insiders ( Bonaime et al.,

Equity 264

Equity Finance Marketability 264

Harvard Corporate Governance

AUGUST 8, 2023

According to the 2021 Investment Company Institute Fact Book, total assets under management (AUM) in ETFs increased from $992 billion in 2010 to $5.4 This post is based on their recent paper , forthcoming in the Journal of Financial Economics. Introduction Exchange-traded funds (ETFs) have experienced remarkable growth in recent years.

Finance 188

Finance Marketability 188

Harvard Corporate Governance

NOVEMBER 27, 2022

The vast majority of S&P 500 companies are now tying executive compensation to some form of ESG performance— growing from 66 percent in 2020 to 73 percent in 2021. compensation, finance, sustainability) who are engaged in the company’s strategy, and understand and have access to the data needed to measure and report on ESG performance.

Compliance 351

Compliance Finance Equity Marketability 351

Harvard Corporate Governance

NOVEMBER 2, 2022

Kaplan is the Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business. Kaplan (University of Chicago Booth School of Business), on Wednesday, November 2, 2022 Editor's Note: Steven N. more…).

Banking 220

Banking Equity Marketability Finance 220

Harvard Corporate Governance

MAY 30, 2022

Shareholder proposals requesting disclosure of emissions reductions goals remained one of the top climate-related proposals in 2021. The complete publication (available here ) concludes with an investigation into what this means for the finance industry. more…).

Finance 310

Finance Marketability Technology 310

Harvard Corporate Governance

APRIL 26, 2023

Launched in 2005, the EU Emissions Trading Scheme (EU ETS) is one of the first carbon markets in the world and is currently in its Phase 4 (2021-2030). This post is based on their paper. The ETS aims to drive reductions in greenhouse gas emissions and to incentivise the transition to a net-zero carbon economy.

Finance 195

Finance Marketability 195

Harvard Corporate Governance

MARCH 29, 2022

The average share price of SPACs that merged in 2021 is now $6.30, roughly matching the actual net cash per share those SPACs delivered in their mergers. Related research from the Program on Corporate Governance includes SPAC Law and Myths by John C. Coates (discussed on the Forum here ).

Finance 230

Finance 230

Harvard Corporate Governance

FEBRUARY 8, 2023

The beginning of the year was active, as robust dealmaking carried over from the record-breaking levels of 2021 to drive approximately $2.2 trillion in 2021 but in line with the $3.5 trillion (roughly 43% of global M&A volume) in 2021. trillion worth of such deals announced over the same time period in the previous year.

Finance 173

Finance Marketability 173

Harvard Corporate Governance

NOVEMBER 8, 2022

Hu is the Allan Shivers Chair in the Law of Banking and Finance at the University of Texas Law School. 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. Posted by Henry T.

Equity 203

Equity Banking Finance Marketability 203

Harvard Corporate Governance

OCTOBER 13, 2022

We identified 13 such proposals in the first half of 2022, compared to just four during all of 2021. The remainder requested similar disclosure reports about deforestation prevention (6%), pesticide use (6%), water management (6%), financing of fossil fuel supplies (6%), and similar environmental impact expenditures (23%).

Compliance 222

Compliance Finance 222

Harvard Corporate Governance

MAY 23, 2022

The documents include governance guidelines, bylaws, proxy statements, and SEC no-action letter requests, and cover the period through the end of August 2021, two full years after the publication of the BRT Statement (the “Two-Year Period”).

Finance 261

Finance 261

Harvard Corporate Governance

SEPTEMBER 30, 2022

To stay abreast and develop your finance talent as the role continues to evolve, understanding tomorrow’s CFO is paramount. Finally, we also review key considerations for CEOs, Boards, and CFOs as they continue to hire and develop their finance talent. An active CFO market has companies forgoing traditional requirements.

Finance 182

Finance Marketability Equity 182

Harvard Corporate Governance

OCTOBER 2, 2024

Yonker (Cornell University), on Wednesday, October 2, 2024 Editor's Note: Attila Balogh is an Assistant Professor of Finance at the University of Melbourne and Scott E. Yonker is a Professor of Finance at the Cornell University SC Johnson College of Business. Posted by Attila Balogh (University of Melbourne) and Scott E.

Finance 167

Finance Equity 167

Harvard Corporate Governance

MAY 3, 2022

On March 29, 2022, the European “Platform on Sustainable Finance” expert group published its report on a future “ Extended Environmental Taxonomy ”. The EU’s Taxonomy framework (in force since 2021) so far covers only environmental sustainability objectives and environmentally sustainable activities. [1].

Finance 240

Finance 240