http://harvardscience.harvard.edu/stories/person/1495 Stories and external links referencing a person (RSS) en http://harvardscience.harvard.edu/culture-society/articles/new-study-suggests-staggered-boards-hurt-shareholders <!--paging_filter--><p>Staggered boards hurt shareholders of hostile bid targets even when a majority of the board is made of independent directors, and they do not appear to benefit shareholders of targets that are acquired in a negotiated acquisition, concludes a study conducted by Harvard Law School professors Lucian Bebchuk, John Coates, and Guhan Subramanian. This research expands upon an earlier study by the three Harvard professors, which provided the first empirical evidence about how staggered boards affect the outcome of hostile bids. The research found that companies with a staggered board were much more likely to remain independent and block value-increasing bids and that staggered boards produced a loss of 8 percent to 10 percent of corporate value for target-company shareholders.</p> Mon, 26 Mar 2007 05:27:38 -0400 70652986 3324 at http://harvardscience.harvard.edu http://harvardscience.harvard.edu/culture-society/articles/new-research-questions-competition-corporate-charters <!--paging_filter--><p>The dominant state in attracting the incorporations of publicly traded companies is, and has long been, the state of Delaware. Although home to less than one-third of one percent of the U.S. population, Delaware plays a central role in setting corporate governance rules for the nation's publicly traded companies. "The widely accepted justification for the existing state of affairs is that Delaware's dominant role is a product of its winning a competition among states for providing desirable corporate law rules," says Harvard Law Professor Lucian Bebchuk.</p> <p><a href="http://harvardscience.harvard.edu/culture-society/articles/new-research-questions-competition-corporate-charters">read more</a></p> Mon, 26 Mar 2007 05:27:36 -0400 70652986 3323 at http://harvardscience.harvard.edu