June, 2023

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The Rise of International ESG Disclosure Standards

Harvard Corporate Governance

Posted by David A. Cifrino, McDermott Will & Emery LLP, on Thursday, June 29, 2023 Editor's Note: David A. Cifrino is Counsel at McDermott Will & Emery LLP. This post is based on his MWE memorandum. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) by Lucian A.

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Perspectives Paper: Deciphering Technology

IVSC

Background The introduction of new technology often marks the beginning of a new era: railroads, electrification, and combustion engines produced momentous changes even before the advent of the “digital revolution”. The current wave of innovation is one of the factors behind the rise of intangible assets, which now account for a larger proportion of corporate assets than tangible ones.

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Qataris make final bid in battle for Manchester United

Financial Times M&A

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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Author Talks: What does it mean to be a good middle manager?

Mckinsey and Company

Three McKinsey partners discuss the untapped value in middle managers that most companies leave on the table.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Sneak Peek: The DealStats Value Index

BVR

The DealStats Value Index is BVR's quarterly publication that gives you a window into the latest insights on private-company acquisitions with important data analysis drawn directly from the DealStats database. This excerpt comes from the latest issue for the first quarter of 2023 and is just the tip of the iceberg when it comes to the index!

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Selling a Business? Remember, Cash Is King. (Here’s Why)

Viking Mergers

Why do people say cash is king when selling a business? And what does it really mean? “Cash is king” in the context of selling a business emphasizes the importance of cash flow and liquidity in determining the value and attractiveness of the company to potential buyers. Here are a few key reasons why cash is king when selling a business: 1.

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IVSC Webinars Series 2023 – Bios

IVSC

Doug McPhee Senior Director - Head of Valuations at Public Investment Fund (PIF) Doug McPhee is Senior Director - Head of Valuations at the Public Investment Fund (PIF). Prior to joining PIF, Doug was a Corporate Finance Partner and Global Valuation Leader for KPMG. He was a Panel Member at the UK's Financial Reporting Council (FRC) from 2016-2022 and Vice Chair of the CBV Institute Board of Directors from 2017-2020.

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Six Glazer siblings to retain Man Utd stakes under Ratcliffe offer

Financial Times M&A

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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Unleashing developer productivity with generative AI

Mckinsey and Company

A McKinsey study shows that software developers can complete coding tasks up to twice as fast with generative AI. Four actions can maximize productivity and minimize risks.

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Nasdaq’s $10 Billion RegTech Deal Shows Urgency, Cost Of Compliance

Global Finance

Global Finance Magazine - Corporates are wielding M&A to scoop up the tech they need in order to keep up with strict rules and regulations.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Appraised Value vs. Market Value: Understanding the Differences and Why They Matter

Viking Mergers

If you are considering selling your small to midsize business, you may already know that extensive financial information goes into constructing a deal. Appraisal and fair market values are two of these figures, which are fundamental in getting the most money for the company you have worked hard to build. Although these two numbers should ideally be the same, fluctuations in the market coupled with more subjective factors not found on paper often mean that it is different.

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How Effective Is SEC Rule 10b5-1 In Deterring Insider Trading?

Harvard Corporate Governance

Posted by Eliezer M. Fich (Drexel University), Robert Parrino (University of Texas at Austin), and Anh L. Tran (City University of London) , on Thursday, June 22, 2023 Editor's Note: Eliezer M. Fich is Professor of Finance at Drexel University LeBow College of Business, Robert Parrino is Professor of Finance at the University of Texas at Austin, and Anh L.

Finance 265
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IVSC Webinars Series 2023 – Bios

IVSC

Carla Nunes Managing Director, Kroll Carla Nunes is a managing director in the Office of Professional Practice (OPP) of Kroll, based in the Philadelphia office, and a Kroll Institute Fellow. She has over 25 years of experience. In her OPP role, she provides firm-wide technical guidance on a variety of valuation, financial reporting and tax issues. She is also the global leader of Kroll' Valuation Digital Solutions group, which produces the cost of capital thought leadership content and data hous

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How the Barclays lost The Telegraph

Financial Times M&A

Move by Lloyds to put debt-laden media group into receivership ends two decades of family’s ownership

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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What is digital transformation?

Mckinsey and Company

Digital transformation is the rewiring of an organization, with the goal of creating value by continuously deploying tech at scale.

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Morgan Stanley’s Gorman To Step Down

Global Finance

Morgan Stanley CEO James Gorman led the firm through a spate of acquisitions that greatly elevated its position in the wealth management sector and his successor may emerge from that part of the firm.

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Are accounting firms keeping remote work positions?

ThomsonReuters

Many of today’s accounting professionals have a new perspective on when and how they want to work. Are firms heeding the call? The onset of the COVID-19 pandemic forced countless businesses, including accounting firms, to go remote essentially overnight due to mandated shutdowns and stay-at-home orders. Now with the public health emergency officially over , the shift to more remote work has become the new normal.

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Congressional Sustainable Investing Caucus

Harvard Corporate Governance

Posted by U.S. Representative Sean Casten (IL-06), and U.S. Representative Juan Vargas (CA-52), on Tuesday, June 13, 2023 Editor's Note: U.S. Representative Sean Casten (IL-06), and U.S. Representative Juan Vargas (CA-52) are members of the House Financial Services Committee. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) by Lucian A.

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IVSC Webinars Series 2023 – Bios

IVSC

Marcelo Barbosa IVSC Trustee and Former President of the Brazilian Securities Commission Marcelo Barbosa was President of the Brazilian Securities and Exchange Commission (CVM) from 2017-2022. He has a Bachelor of Law from the Faculty of Law of the State University of Rio de Janeiro (UERJ) and master’s degree in Law (LL.M) from Columbia University in New York, USA.

Equity 130
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Saudi Arabia spends billions in bid to dominate global games industry

Financial Times M&A

Savvy shells out $8bn on deals in 18 months in rapid push to diversify revenues and acquire soft power

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Unlocking commerce in the metaverse

Mckinsey and Company

Consumers already know what they want at the intersection of virtual and physical retail. It’s up to companies to evolve their strategies to capture growth and long-term value.

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Saudi Arabia’s Middle America Makeover

Global Finance

Global Finance Magazine - Profit overrides principle with the recent PGA-LIV Golf& deal; expect more M&A in sports and other sectors.

Finance 111
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Staying up to speed with artificial intelligence in accounting

ThomsonReuters

Artificial intelligence (AI) has proven that it is a far cry from just a buzzword. Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Is your firm ready? Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients.

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Voice Through Divestment

Harvard Corporate Governance

Posted by Marco Becht (Solvay Brussels School of Economics and Management), Anete Pajuste (Boston University), and Anna Toniolo (Harvard University), on Wednesday, June 14, 2023 Editor's Note: Marco Becht is a Professor of Finance at Solvay Brussels School of Economics and Management; Anete Pajuste is a Professor of Finance at Stockholm School of Economics (Riga), and Visiting Lecturer at Questrom School of Business, Boston University; and Anna Toniolo is Postdoctoral Fellow at the Program on Co

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Tilray's HEXO Acquisition Creates Canada's Top Cannabis Company With 44% Market Share Boost

Benzinga

Tilray (NASDAQ: TLRY ) is making bold moves to secure a profitable future, and its latest acquisition of HEXO Corp. (NASDAQ: HEXO ) has solidified its position as Canada's top cannabis company with a 44% market share boost, expanding its market share by 467 basis points. Despite a challenging market, the strategic combination of Tilray and HEXO is expected to drive revenue growth and create significant opportunities for increased margins and earnings, with projected annualized cost savings o

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SVB Financial to sell investment banking unit to management team

Financial Times M&A

Securities division has been for sale since Silicon Valley Bank’s failure in March sent tremors through banking industry

Banking 113
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HR rewired: An end-to-end approach to attracting and retaining top tech talent

Mckinsey and Company

Technology companies are shedding the very talent that incumbent players need to meet their own digital objectives. Here’s what HR teams in traditional organizations can do to capitalize.

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AI's Winners, Losers and Wannabes: An NVIDIA Valuation, with the AI Boost!

Musings on Markets

I will start this post with a couple of confessions. The first is that my portfolio has held up well this year, in a market that has been top-heavy and tech-driven, and one big reason is that it contains both NVIDIA and Microsoft, two companies that have benefited from the AI story. The second is that much as I would like to claim credit for foresight and forward thinking, AI was not even a speck in my imagination when I bought these stocks (Microsoft in 2014 and NVIDIA in 2018).

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How can businesses take advantage of the rules of origin to lower their customs duties?

ThomsonReuters

It is no secret that customs duties can be a major source of expense for businesses. By considering the rules of origin under free trade agreements (FTAs), it is possible to reduce the costs of these duties by applying preferential duty rates. Rules of origin refer to regulations that establish the country of origin for a product. Businesses can leverage these rules to benefit from free trade agreements (FTAs) and other tax relief programs.

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The SEC’s Climate Change Disclosure Rules are in Double Constitutional Trouble

Harvard Corporate Governance

Posted by Donald J. Kochan (George Mason University), on Monday, June 19, 2023 Editor's Note: Donald J. Kochan is a Professor of Law and the Executive Director of the Law & Economics Center at George Mason University’s Antonin Scalia Law School. This post is based on his recent piece. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) by Lucian A.

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Exploring The Advantages Of Vertical Integration

Benchmark Report

Vertical Integration Vertical integration is a strategy that involves a company expanding its operations into other stages of its supply chain. This means that a company takes control of its suppliers, distributors, or both. Vertical integration can be achieved in two ways, either through backward integration or forward integration.

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Field Guide to Business Valuation: The Market Approach

BVR

One element of a valuation report that can be incredibly confusing is the market approach, which is required in every business valuation. Luckily for us, the field guide is here to demystify it for us!

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Generative AI and the future of HR

Mckinsey and Company

A chatbot may not take your job—but it will almost certainly change it. Here’s how to start thinking about putting gen AI to work for you.

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Decoding the Valuation Puzzle: Venture Capitalists vs. Angel Investors

Startup Valuation Blog

let's dive into the article to explore the fascinating world of venture capitalists and angel investors and their approaches to the valuation puzzle in startup funding. Introduction When it comes to funding startups and entrepreneurial ventures, venture capitalists (VCs) and angel investors play vital roles. However, understanding their differences and how they approach valuations can be a puzzle for many.