Sky Blog
These are exceptional times, and policymakers are taking exceptional measures in public health, public finance, monetary policy, and public law. Among the latter, of great relevance to corporate governance are the rules broadening governments’ powers to authorize large share block …
The Covid-19 outbreak demonstrates how vulnerable our elaborate cross-border supply chains are to disruption. It isn’t the first time in recent memory that contemporary supply chains have been upended – the 2011 earthquake off the coast of eastern Japan is …
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was signed into law on March 27, 2020, provides $2 trillion in emergency relief to individuals, small businesses, large corporations, and financial institutions. This includes up to $349 …
The spread of the novel coronavirus has upended Americans’ lives in a matter of months. While life outside has ground to a standstill in many regions of the country, much of corporate America is meeting the unique challenges posed by …
Technological advancements of recent years have given birth to a strange and interesting creature: cryptocurrencies like Bitcoin, Ether, and Facebook’s upcoming Libra. Many of the advantages offered by these tokens stem from their underlying technology – a decentralized ledger, which …
As the respiratory illness known as coronavirus disease 2019 (“COVID-19”) spreads across the globe, so too are its major impacts on businesses, financial markets, and international trade and commerce. Business are confronting a range of losses related to the World …
On January 30, 2020, in response to the increasing global spread of the novel coronavirus (COVID-19), the World Health Organization declared a “Public Health Emergency of International Concern.” Within a day, the United States and Italy followed suit. Since then, …
On February 13, 2020, final regulations went into effect to expand the scope of inbound foreign investment subject to review by the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”).
CFIUS is an inter-agency federal government …
In recent years there has been a surge in research that explores the sources of variation in corporate tax avoidance. Following this stream of research, tax scholars have begun to acknowledge the potential effect of ownership patterns on firms’ tax …
In recent years, there have been significant changes in the information environment facing firms. In particular, the explosive growth in computing power and the reduction in the costs of disseminating economically relevant information due to the widespread use of the …
The strength of our public company financial reporting system relies on many stakeholders playing different but interconnected roles in a process designed to provide investors and our markets with high-quality, reliable financial information. Audit committees play a vital
Shareholder activism is an investment strategy that investors such as hedge funds (HFs) use to increase the value of their investment by intervening in the management of a targeted firm. Activists can nudge management to take shareholder-friendly actions such as …
On October 9, 2019, the US Department of the Treasury (Treasury Department) issued proposed regulations (Proposed Regulations) regarding tax issues relating to the anticipated discontinuance of the London interbank rate (LIBOR) after the 2021 calendar year. The Proposed Regulations are …
The validity of whistleblower reports based on secondhand information has been called into question by President Trump:
A whistleblower with second hand information? Another Fake News Story! See what was said on the very nice, no pressure, call. Another Witch …
Over the past half dozen years, the three of us have written a number of papers on sovereign bond contracts. In the first set of papers, we documented the stickiness phenomenon (the reluctance of lawyers to modify standard contract language …
There is a common theme that unites the two proposals before us today: they both would operate to suppress the exercise of shareholder rights.
The proposed changes to our current proxy regime would make it more costly and more difficult
The catchphrase “too much information” can be applied in many circumstances, personal and social, but not, surely, in relation to financial markets.
It has long been held that greater transparency, thus more information, can only increase the volume of trading …
