Harvard Corporate Governance

SEPTEMBER 7, 2022

This post provides an overview of our proxy voting from July 1, 2021, through June 30, 2022, as part of our broader stewardship work engaging with the companies we invest in on behalf of our clients. more…).

Marketability 144

Marketability 144

Harvard Corporate Governance

MARCH 22, 2023

Despite the challenges the year presented for investors (rising interest rates, tumultuous financial markets, geopolitical upheaval, etc.), Deal activity declined from 2021, but finished the year above pre-pandemic levels. Acquisitions and Exits Deal Activity Down From 2021, But Above Pre-Pandemic Levels. trillion in 2021 to $1.4

Equity 237

Equity Finance Marketability 237

Business Sales M&A

JUNE 2, 2021

Valuation multiples and deal flow are expected to increase in the next three months, according to the first quarter Market Pulse Report. The first quarter has show growth in confidence and optimism among business owners and M&A professionals alike. Source.

Marketability 130

Marketability 130

Harvard Corporate Governance

JANUARY 9, 2023

Volatile global financial markets and recessionary fears have led to declining boardroom confidence and a decrease in deal activity from 2021’s record levels but are still healthy by historical standards. In a down market, buyers may find opportunities to acquire appealing targets that were previously out of reach. Key Points.

Finance 225

Finance Marketability Banking 225

Harvard Corporate Governance

NOVEMBER 28, 2022

The deal volume in 2021 reached levels not seen in recent years, a trend that continued into the first part of 2022. But since then, the markets have shifted. The markets in 2022 still have an abundance of capital for both corporate and private equity (PE) to fund deals. This post is based on their PwC memorandum. Introduction.

Marketability 295

Marketability Equity 295

Harvard Corporate Governance

DECEMBER 2, 2022

They are influenced by market pressures, stores of capital, and hot topics in governance. But during bull and bear markets, during recessions and times of growth, activists continue to look for opportunity, and companies continue to find themselves in the crosshairs. more…).

Marketability 321

Marketability 321

Harvard Corporate Governance

MAY 21, 2022

Bebchuk and Roberto Tallarita (discussed on the Forum here ); Companies Should Maximize Shareholder Welfare Not Market Value by Oliver Hart and Luigi Zingales (discussed on the Forum here ); Reconciling Fiduciary Duty and Social Conscience: The Law and Economics of ESG Investing by a Trustee by Max M. About the survey.

Marketability 284

Marketability 284

Harvard Corporate Governance

APRIL 30, 2022

More recently, with the January 2021 change-over in administration and the resulting shift in rulemaking philosophy, climate disclosure has been an area of increasing SEC focus. Enhanced environmental disclosure has been a topic of discussion within the SEC since the 1970s.

Corporate Finance 271

Corporate Finance Compliance Finance Marketability 271

Harvard Corporate Governance

JANUARY 5, 2023

ACTIVISM ACTIVITY SURGES DESPITE MACROECONOMIC UNCERTAINTY AND MARKET VOLATILITY, LEADING TO INCREASED USE OF RIGHTS PLANS. A Flesh-and-Blood Perspective on Hedge Fund Activism and Our Strange Corporate Governance System (discussed on the Forum here ) by Leo E. Strine, Jr. . TRENDS IN SHAREHOLDER ACTIVISM.

Marketability 307

Marketability 307

Harvard Corporate Governance

OCTOBER 31, 2023

Now that the labor market is shifting, HCM has become even more critical as companies navigate new market-related challenges. They hired aggressively in 2020 and 2021 to ensure they had the resources to pursue new product development and customer groups.

Technology 278

Technology Marketability 278

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. Despite its explosive growth, the private debt market remains relatively understudied. firms with annual revenue between $10 million and $1 billion).

Banking 215

Banking Equity Marketability Finance 215

Benzinga

JANUARY 18, 2023

18, 2023 (GLOBE NEWSWIRE) -- The global cryptocurrency market size was valued at USD 826.6 Million in 2021 to USD 1902.5 Fortune Business Insights™ has published these insights in its latest research report titled, "Cryptocurrency Market Forecast, 2023-2028.". 2021 to 2028. Forecast Period 2021 to 2028 CAGR.

Marketability 105

Marketability Finance 105

Harvard Corporate Governance

FEBRUARY 22, 2023

Starting in January 2021, the U.S. stock market was hit by a “meme stock” storm. Candidate at Yale School of Management, and Alex Lee is Professor of Law at Northwestern Pritzker School of Law. This post is based on their recent paper.

Start-ups 268

Start-ups Marketability 268

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

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.

Corporate Finance 263

Corporate Finance Finance Technology Marketability 263

Mckinsey and Company

JULY 7, 2022

Western Europe’s private banks posted near-record profits last year, thanks to a high-performing market, but operational improvements stalled.

Banking 103

Banking Marketability 103

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 ”). This post is based on their SSGA memorandum.

Equity 309

Equity Marketability 309

Harvard Corporate Governance

OCTOBER 22, 2022

Activists won at least one board seat at 29% of campaigns that went to a vote or settled this proxy season, according to Insightia’s Activism module, compared to at 54% and 34% of campaigns throughout the 2020 and 2021 proxy seasons, respectively.

Marketability 244

Marketability Equity 244

Harvard Corporate Governance

MAY 2, 2023

2021 WL 754593, (Del. 26, 2021) aff’d The Williams Companies, Inc. Rather, this shift reflects Delaware’s embrace of technological innovations and market changes, particularly those reshaping the role of shareholders. In re the Williams Cos. S’holder Litig., Wolosky, (Del. The Williams decisions reinterpret parts of Unocal Corp.

Technology 247

Technology Marketability 247

Global Finance

AUGUST 1, 2024

When valuations shift so drastically, it’s usually due to “a major event” or “a failed deal, or even a market correction,” Carl Niedbala, co-founder of risk management firm Founder Shield, said. “It’s Valuations are more tempered compared to the highs of 2020 and 2021,” Chan says.

Marketability 122

Marketability Finance Corporate Finance 122

Harvard Corporate Governance

OCTOBER 12, 2022

SPAC activity continued to slow in the first half of 2022, a sharp decline from the number of deals and IPOs in the same period in 2021. Filings of SPAC-related securities lawsuits through the first half of 2022 are on pace to exceed the total number of SPAC-related lawsuits filed in 2021. Key Points.

Marketability 210

Marketability 210

Harvard Corporate Governance

NOVEMBER 28, 2022

unicorns since the beginning of the 2000s until the end of the third quarter of 2021. Even though 2021 has the highest number of unicorn exits, unicorn births outpace exits and the number of unicorns in existence increases in 2021. Our sample covers all U.S.

Intangible Assets 236

Intangible Assets Finance Marketability 236

Harvard Corporate Governance

JULY 30, 2022

These amendments would cause some of the most active participants in our equity and fixed-income markets to be required to register with FINRA. I was pleased to support these amendments because, if adopted, they would modernize and improve market oversight for regulators. treasury markets. 1 [link] (go back).

Equity 187

Equity Treasury Technology Marketability 187

Harvard Corporate Governance

MAY 19, 2022

This post covers State Street Global Advisors’ stewardship activities in Q4 2021, including examples of notable successes and resulting outcomes from high-profile engagements, and outlines our stewardship priorities for 2022. This post is based on their SSgA memorandum. Stewardship Activity Report. more…).

Marketability 273

Marketability 273

Harvard Corporate Governance

SEPTEMBER 22, 2022

As predicted in our previous M&A report, 2022 has not lived up to the runaway performance of 2021. As activity—still at impressive levels considering everything that has been thrown at the deal market—takes a breather, we consider five fundamental trends that may play out over the coming months.

Finance 244

Finance EBITDA Equity Marketability 244

Value Scope

APRIL 9, 2021

Click to Download: Transcending Fair Market Value Transcending Fair Market Value “Beauty is in the eyes of the beholder.” intrinsic value, fair value, fair market value). Its price is $100,000, and its FMV is $100,000 (assuming it was bought at arms-length in an active market), but I may have agreed to pay much more.

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Value Scope

APRIL 9, 2021

Click to Download: Transcending Fair Market Value. Transcending Fair Market Value. Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). It transcends FMV.

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Harvard Corporate Governance

MAY 6, 2022

Bebchuk and Roberto Tallarita (discussed on the Forum here ); Companies Should Maximize Shareholder Welfare Not Market Value by Oliver Hart and Luigi Zingales (discussed on the Forum here ); Reconciling Fiduciary Duty and Social Conscience: The Law and Economics of ESG Investing by a Trustee by Max M.

Marketability 246

Marketability 246

Harvard Corporate Governance

APRIL 20, 2023

However, in 2021, compensation jumped 18.3% The significant bump in 2021 could be credited to the fact that many companies elected to reward their CEOs for guiding them through the turbulence of the COVID-19 pandemic in the form of bonuses. Additionally, 2021 was a strong market year prior to any inflation and recession concerns.

Marketability 205

Marketability 205

Global Finance

JULY 26, 2024

Details of the deal were undisclosed, though it represents the first major step into Japan’s wholesale energy market by the Miami-based firm. Established in 2021, Energy Grid is a provider of risk management solutions to Japanese businesses, helping them navigate price volatility in the energy sector, in particle the electricity market.

Marketability 98

Marketability Finance Corporate Finance 98

Harvard Corporate Governance

AUGUST 14, 2024

Given the potentially dramatic financial consequences of the loss of biodiversity, firms, investors, and financial market regulators are increasingly paying attention to the topic.

Finance 225

Finance Banking Marketability 225

Harvard Corporate Governance

MARCH 26, 2022

A version of this is playing out right now with climate change commitments in the capital markets. But market and investor reactions to these ambitions have been muted. As it stands, approximately 60 percent of Fortune 500 companies have declared their climate resolutions in the form of greenhouse emissions reductions goals.

Marketability 210

Marketability 210

Harvard Corporate Governance

NOVEMBER 17, 2022

Posted by Olwyn Alexander, Dariush Yazdani, PricewaterhouseCoopers LLP, on Thursday, November 17, 2022 Editor's Note: Olwyn Alexander is Global Asset and Wealth Management Leader and Dariush Yazdani is Global Asset and Wealth Management Market Research Centre Leader at PricewaterhouseCoopers LLP. trillion in 2021 to US$10.5

Marketability 196

Marketability 196

Harvard Corporate Governance

MAY 30, 2022

Shareholder proposals requesting disclosure of emissions reductions goals remained one of the top climate-related proposals in 2021. Larger companies are driving overall transparency performance, but there is pressure for the rest of the market to step up.

Finance 306

Finance Marketability Technology 306

Harvard Corporate Governance

JUNE 20, 2023

Capital markets reflect this enhanced focus on climate change risks and the risks associated with a decarbonized energy transition. With growing public attention to the risks posed by a changing climate, investors have increasingly scrutinized corporations about the environmental impact of their operations.

Finance 210

Finance Equity Marketability 210

Harvard Corporate Governance

MAY 15, 2023

Following a brief decline during the pandemic, shareholder activism in the US rebounded to pre-pandemic levels in 2022 despite—or perhaps because of—volatile markets, depressed share prices and macro-economic uncertainty.

Marketability 230

Marketability Technology 230

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. Companies are embracing different approaches to factoring ESG into executive pay and are continuing to refine their ESG measures as they expand their reach.

Compliance 351

Compliance Finance Equity Marketability 351