Corporate Governance and the new Financial Regulation: Complements or Substitutes?
- 25 October 2010
- •
- Bibliotheque Solvay, Brussels
This conference examined the role of corporate governance in financial system reform. It took place in Bibliotheque Solvay, Brussels on Monday, 25 October 2010.
The ECGI is grateful for the sponsorship of the 2008 Conference by:
PricewaterhouseCoopers
Information
Monday, 25th October 2010
Registration
Welcome
Speakers:
Session 1 –Prevention
Does Debt Provide "Market Discipline" for Banks?
Speakers:
Corporate governance provisions of the Dodd-Frank Act
Speakers:
Is Bank Governance Different?
Speakers:
Moderator
Speakers:
Coffee
Session 2 - Conference keynote speeches
Discussion panel of members of the European Corporate Governance Forum
Moderator:
Panelists:
Lunch
Session 3 - Early Intervention and Resolution
Keynote speech
Speakers:
Coffee
Core resolution approaches
Speakers:
Banking resolution: lessons from economic theory
Speakers:
Moderator
Speakers:
Session 4 – Summing up, Assessment and the Way Ahead
Speakers:
The 2010 TCGD Conference is being held in co-ordination with the 1st CONGRESS OF THE SOLVAY BRUSSELS SCHOOL OF ECONOMICS AND MANAGEMENT which takes place at SQUARE, Brussels Meeting Centre, Mont des Arts, Brussels
Speakers
Presentations
Welcome
Welcome
Speakers
Defensive Tactics and Optimal Search: A Simulation Approach
The appropriate division of authority between a company?s board and its shareholders has been the central issue in the corporate governance debate for...
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Corporate Governance Changes As a Signal: Contextualizing the Performance Link
Promoting ?good? corporate governance has become an important concern. One result has been the creation of indexes that purport to measure the quality...
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From Corporate Law to Corporate Governance
This essay is a contribution to the forthcoming Oxford University Press Handbook of Corporate Law and Governance edited by Jeffery Gordon and Georg...
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Shifting Influences on Corporate Governance: Capital Market Completeness and Policy Channeling
Corporate governance scholarship is typically portrayed as driven by single factor models, for example, shareholder value maximization, director...
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Contracting About Private Benefits of Control
The separation of control and ownership ? the ability of a small group effectively to control a company though holding a minority of its cash flow rights ?...
Read moreDoes Debt Provide "Market Discipline" for Banks?
Does Debt Provide "Market Discipline" for Banks?
Speakers
Conference Documents
Corporate governance provisions of the Dodd-Frank Act
Corporate governance provisions of the Dodd-Frank Act
Speakers
Conference Documents
Global Settlements: Promise and Peril
In 2010, Morrison v. National Australia Bank Ltd. destabilized the world of securities litigation by denying those who purchased their securities...
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Ratings Reform: The Good, The Bad, and The Ugly
Both in Europe and in the United States, major steps have been taken to render credit rating agencies more accountable. But do these steps address the...
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Mapping the Future of Insider Trading Law: Of Boundaries, Gaps, and Strategies
The current law on insider trading is arbitrary and unrationalized in its limited scope in a number of respects. For example, if a thief breaks into your...
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Litigation Governance: Taking Accountability Seriously
Both Europe and the United States are rethinking their approach to aggregate litigation. In the United States, class actions have long been organized...
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The Impact of Hedge Fund Activism: Evidence and Implications
Hedge fund activism has increased almost hyperbolically. Some view this optimistically as a means for bridging the separation of ownership and...
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Dispersed Ownership: The Theories, the Evidence, and the Enduring Tension Between 'Lumpers' and 'Splitters'
From a global perspective, the single most noticeable fact about corporate governance is the radical dichotomy between dispersed ownership and...
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Extraterritorial Financial Regulation: Why E.T. Can?t Come Home
Systemic risk poses a classic ?public goods? problem. All nations want systemic stability, but most would prefer that other nations pay for it, allowing...
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The Future of Disclosure: ESG, Common Ownership, and Systematic Risk
The U.S. securities markets have recently undergone (or are undergoing) three fundamental transitions: (1) institutionalization (with the result...
Read moreIs Bank Governance Different?
Is Bank Governance Different?
Speakers
Conference Documents
Investor Ideology
We estimate institutional investor preferences from proxy voting records. The W-NOMINATE method maps investors onto a left-right dimension based on...
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Corporate Governance and Control
Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of...
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Pay for Short-Term Performance: Executive Compensation in Speculative Markets
We argue that the root cause behind the recent corporate scandals associated with CEO pay is the technology bubble of the latter half of the 1990s. Far from...
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Do Investors Care about Carbon Risk?
We study whether carbon emissions affect the cross-section of U.S. stock returns. We find that stocks of firms with higher total CO2 emissions (and...
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L-Shares: Rewarding Long-Term Investors
We argue that a fundamental reason for the short term perspective of corporate executives is the short-term orientation of shareholders and financial...
Read moreModerator
Moderator
Speakers
Keynote speech
Keynote speech
Speakers
Conference Documents
Core resolution approaches
Core resolution approaches
Speakers
Conference Documents
Systemic Harms and Shareholder Value
The financial crisis has demonstrated serious flaws in the corporate governance of systemically important financial firms. In particular, the...
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The Empty Call for Benefit-Cost Analysis in Financial Regulation
?Benefit-cost analysis? as applied to financial regulation is a serious category mistake that has the potential to stymie regulation aimed at the...
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The Origins of a Capital Market Union in the United States
EU policy-makers have focused on the creation of a “Capital Market Union” to advance the economic vitality of the EU in the aftermath of the Global...
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Bank Governance
According to a common narrative, in addition to inadequate capital and liquidity, the failure of banks in the financial crisis also reflected their poor...
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China as a "National Strategic Buyer": Towards a Multilateral Regime for Cross-Border M&A
Unlike the case of cross-border trade, there is no explicit international governance regime for cross-border M&A; rather, there is a shared...
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Systematic Stewardship
This paper frames a normative theory of stewardship engagement by large institutional investors and asset managers in terms of their theory of...
Read moreBanking resolution: lessons from economic theory
Banking resolution: lessons from economic theory
Speakers
Conference Documents
Moderator
Moderator
Speakers
Session 4 – Summing up, Assessment and the Way Ahead
Session 4 – Summing up, Assessment and the Way Ahead
Speakers
Panel Discussions
Discussion panel of members of the European Corporate Governance Forum
Discussion panel of members of the European Corporate Governance Forum
Moderator