Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Selected Works

Banking and Finance Law

PDF

Corporate governance

Articles 1 - 6 of 6

Full-Text Articles in Law

Canadian Pension Funds: Investments And Role In The Capital Markets And Corporate Governance, Poonam Puri, P. M. Vasudev Oct 2015

Canadian Pension Funds: Investments And Role In The Capital Markets And Corporate Governance, Poonam Puri, P. M. Vasudev

Poonam Puri

The article analyzes Canadian pension funds from the perspectives of corporate governance and the capital markets. It reviews their investment allocations and revenue patterns since the 1990s and identifies significant changes. The article finds that pension funds, as shareholders, have turned more activist and they wield considerable influence on corporate governance. They also contribute to shaping public policy, as evident from the relaxation of the rules on foreign investment and the removal of restrictions on communications among shareholders. The paper predicts that the role of pension funds will likely further expand in the future, given the constant rise in their ...


The Evolution Of Debt: Covenants, The Credit Market, And Corporate Governance, Charles K. Whitehead Feb 2015

The Evolution Of Debt: Covenants, The Credit Market, And Corporate Governance, Charles K. Whitehead

Charles K Whitehead

No abstract provided.


Rock, Paper, Scissors: Choosing The Right Vehicle For Federal Corporate Governance Initiatives, Joan Macleod Heminway Oct 2011

Rock, Paper, Scissors: Choosing The Right Vehicle For Federal Corporate Governance Initiatives, Joan Macleod Heminway

Joan M Heminway

No abstract provided.


Fiduciary Exemption For Public Necessity: Shareholder Profit, Public Good, And The Hobson's Choice During A National Crisis, Robert J. Rhee Jan 2010

Fiduciary Exemption For Public Necessity: Shareholder Profit, Public Good, And The Hobson's Choice During A National Crisis, Robert J. Rhee

Robert Rhee

This Article is written as two discrete, independently accessible topical sections. The first topical section, presented in Part I of this Article, is a case study of Bank of America’s acquisition of Merrill Lynch and the impact of a flawed merger execution on the board’s subsequent decisions. The second topical section, presented Parts II-IV of this Article, advances a theoretical basis for fiduciary exemption during a public crisis. The financial crisis of 2008 was the worst economic disaster since the Great Depression. It nearly resulted in a collapse of the global capital markets. A key event in the ...


Deconstructing Equity: Public Ownership, Agency Costs, And Complete Capital Markets, Ronald J. Gilson, Charles K. Whitehead Dec 2007

Deconstructing Equity: Public Ownership, Agency Costs, And Complete Capital Markets, Ronald J. Gilson, Charles K. Whitehead

Charles K Whitehead

The traditional law and finance focus on agency costs presumes that the premise that diversified public shareholders are the cheapest risk bearers is immutable. In this Essay, we raise the possibility that changes in the capital markets have called this premise into question, drawn into sharp relief by the recent private equity wave in which the size and range of public companies being taken private expanded significantly. In brief, we argue that private owners, in increasingly complete markets, can transfer risk in discrete slices to counterparties who, in turn, can manage or otherwise diversify away those risks they choose to ...


Compensating Power: An Analysis Of Rents And Rewards In The Mutual Fund Industry, William Birdthistle Jan 2006

Compensating Power: An Analysis Of Rents And Rewards In The Mutual Fund Industry, William Birdthistle

William Birdthistle

The allegations of malfeasance in the investment management industry - market timing, late trading, revenue sharing, and several others - involve a broad range of mutual fund operations. This Article seeks to explain the common source of these irregularities by focusing upon a trait they share: the practice of investment advisers' capitalizing upon their managerial influence to increase assets under management in order to generate greater fees from those assets. This Article extends theories of executive compensation into the context of investment management to understand the extraction of rents by mutual fund advisers. Investment advisers, as collective groups of portfolio managers, interact ...