Contenu pour le mot clé: ProfessorBainbridge.com

8 septembre 2017

« Overreacting to dual class stock »

« Yvan Allaire has a great analysis of Dow Jones’ overreaction to Snapchat’s IPO and the dual class stock phenomenon in general: In July 2017, Dow Jones, goaded by the reaction to Snapchat having gone public with a class of shares without voting rights, announced that, after extensive consultation, it had decided to henceforth eliminate […]

27 avril 2016

« Activist hedge funds come to Japan »

« From Japan Today comes an interesting column by Yvan Allaire and Francois Dauphin: Now foreign investors, holding over 30% of their shares, are unrelenting in their pressure for Japanese companies to adopt American-style governance. New governance codes have been written and Japanese stock exchanges are pushing for their implementation. Foreign money managers and institutional investors […]

28 décembre 2015

« Who should pick corporate directors? »

« Yvan Allaire and François Dauphin cogently analyze the costs and risks of proxy access, arguing that « Anyone believing that this process is likely to produce stronger boards in the long run needs to consider anew the calculus of current and prospective board members, the actions, likely dysfunctional, of people facing the humiliation (and economic loss) […]

15 octobre 2015

« Allaire & Dauphin on hedge fund activism »

« Yvan Allaire and François Dauphin return to a topic on which they have been active and important commentators and analysts; namely, hedge fund activism. Specifically, they report on a new study they conducted: « We … explored, among other things, the consequences of activism over time when compared to a random sample of firms with […]

30 janvier 2015

« The Continuing Critique of « The Long-Term Effects of Hedge Fund Activism » »

 » Yvan Allaire and Francois Dauphin are back with another critique of Bebchuk et al.’s claims about the merits of hedge fund activism: Bebchuk et al. have produced a new version of their paper The Long-Term Effects of Hedge Fund Activism (December 2014) to be published in the June 2015 issue of the Columbia Law Review. In […]