The COVID-19 Crisis and Its Aftermath: Corporate Governance Implications and Policy Challenges
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The videos of each session are available under the presentation tab on this page and also on the ECGI YouTube channel
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Australia, Japan, South Korea, Singapore, China, Israel, Germany,
It is already clear that the COVID-19 pandemic will have dire economic consequences, and collective thought is being applied to what policies can better ensure societies’ resilience and their quick and dynamic recovery once the crisis is over. Corporate governance scholars can help devise sound and effective policies for this purpose. This global webinar convened scholars, practitioners and policymakers with the aim of sharing evidence-based insights for the common good.
Topics included, but were not limited to:
· Corporate social responsibility in war-like times
· Corporate governance digitalization
· The role of institutional investors and stewardship
· Takeover defences and M&A trends
· Bond markets and bankruptcy
· Corporate purpose in times of crisis
· The governance implications of emergency laws and government bailouts
· Securities regulation (disclosure, short-selling bans, etc.)
· ESG and Impact investing
· Systemic risk and financial stability following exogenous shocks
A collection of related articles by ECGI research members is available here
Event References:
GCGC/ECGI Global Webinar Series: Fed to the Rescue: Bankruptcy’s Role in the COVID-19 Crisis (Edward R. Morrison, Andrea C. Saavedra)
GCGC/ECGI Global Webinar Series: Wall Street CARES!: Who Gets the Hidden Subsidies Under the CARES Act? (John C. Coffee, Jr.)
GCGC/ECGI Global Webinar Series: The ECB’s response to the COVID-19 pandemic (Isabel Schnabel)
GCGC/ECGI Global Webinar Series: How Banks and Fintechs Can Help Small Businesses Survive COVID-19 (Todd Baker, Kathryn Judge)
GCGC/ECGI Global Webinar Series: Easing the economic aftermath of a global pandemic (Mark Roe, John Coates)
GCGC/ECGI Global Webinar Series: Bankruptcy and the coronavirus (David Skeel)
GCGC/ECGI Global Webinar Series: Extreme times, Extreme Measures: Pandemic-Resistant Corporate Law (Luca Enriques)
GCGC/ECGI Global Webinar Series- Fed to the Rescue: Unprecedented Scope, Stretched Authority (Lev Menand)
Insider Trading Data Reveals Pandemic Is a Time for Questioning, Not Answering (Renée Adams, Attila Balogh)
GCGC/ECGI Global Webinar Series: Corona and Financial Stability 4.0: Implementing a European Pandemic Equity Fund (Arnoud Boot, Elena Carletti, Hans-Helmut Kotz, Jan Pieter Krahnen, Loriana Pelizzon ,Marti Subrahmanyam)
GCGC/ECGI Global Webinar Series: How to Rescue Startups During the Pandemic (Dorothea Ringe, Wolf-Georg Ringe)
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The schedule for the event was as follows:
Time (Melbourne) AEST |
Local time |
University |
09:00 – 11:00 |
| Monash University, Melbourne |
11:30 – 13:30 | 10:30 – 12:30 JST/KST | University of Tokyo Seoul National University |
14:00 – 16:00 | 12:00 – 14:00 GMT+8 /CST | National University of Singapore Peking University |
16:30 – 18:30 | 09:30 – 11:30 IDT | Tel Aviv University IDC Herzliya, Israel |
19:00 – 21:00 | 11:00 – 13:00 CEST | Goethe University Frankfurt |
21:30 – 23:30 | 13:30 – 15:30 CEST | Swedish House of Finance |
00:00 – 02:00 | 15:00 – 17:00 BST | University of Oxford Imperial College London |
02:15 – 04:15 | 12:15 – 14:15 EDT | Columbia University |
04:30 – 06:30 | 14:30 – 16:30 EDT | Harvard University |
07:00 – 09:00 | 14:00 – 16:00 PDT | Stanford University Yale University |
The sessions were recorded and are published on the ECGI website.
An initiative of ECGI and the Global Corporate Governance Colloquia (GCGC).
Queries to be directed to: Webinars@ecgi.org
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Programme
Monash University session - (local time 09:00-11:00 AEST)
Welcome- Monash University
Speaker(s)
Panel 1: The differential health, economic and financial effects of the COVID-19 crisis
Moderator
Panelist(s)
Panel 2: The impact of the COVID-19 crisis on boards of directors and regulators
Moderator
Panelist(s)
Q&A
Break
Seoul National University and University of Tokyo session - (local time 10:30 – 12:30 KST/JST)
Business continuity planning during the COVID-19 crisis
Prevention of pandemic and CSR in times of COVID-19
Speaker(s)
The COVID-19 pandemic crisis as a MAC
Speaker(s)
COVID-19 crisis and family succession
Speaker(s)
Q&A
Discussants of Seoul National University and University of Tokyo session
Break
National University of Singapore and Peking University session - (local time 12:00 – 14:00 GMT+8 /CST)
COVID-19: The start of history for Asian corporate law?
Speaker(s)
Asset managers and private entrepreneurial activities post-COVID-19
Speaker(s)
Role of the board in times of crisis and disruption
Speaker(s)
Capital requirements, share buybacks and resilience
Speaker(s)
Is the glass half full or half empty? Corporate social responsibilities in crisis times
Speaker(s)
Q&A
Welcome- Peking University
Speaker(s)
Transparency and information disclosure: accounting irregularities of overseas listed Chinese firms
Speaker(s)
Corporate Governance after COVID-19
Speaker(s)
Pursuing the new order for Chinese capital market
Speaker(s)
Q&A
Break
Tel Aviv University session - (local time 09:30 – 11:30 IDT)
Welcome- Tel Aviv University
Speaker(s)
Panel 1: Startups, scaleups and governments
Moderator
Panel 2: Support in time of crisis: Directors’ duties
Moderator
Q&A
Break
Goethe University Frankfurt session - (local time 11:00 – 13:00 CEST)
Panel 1: Central Bank responses: Transmission mechanisms
Moderator
Panelist(s)
COVID-19 and financial stability 3.0: Try equity - risk sharing for companies, large and small
Speaker(s)
Discussant
Q&A
Break
Swedish House of Finance session (local time 13:30 – 15:30 CEST)
Welcome- Swedish House of Finance
Speaker(s)
Panel 1: The Swedish COVID-19 policy response
Moderator
Panelist(s)
Panel 2: Corporate governance and stakeholders in the crisis
Moderator
Speaker(s)
Panelist(s)
Q&A
Break
University of Oxford and Imperial College London session - (local time 15:00 – 17:00 BST)
Panel 1: Supporting SMEs during the pandemic
Moderator
Panelist(s)
Panel 2: Business responses to the pandemic
Moderator
Panelist(s)
Panel 3: Corporate law during and after the pandemic
Moderator
Panelist(s)
Q&A
Break
Columbia University session - (local time 12:15 – 14:15 EDT)
Welcome- Columbia University
Speaker(s)
I. Government responses to the pandemic crisis
The Fed to the rescue: Unprecedented scope; stretched authority
Speaker(s)
The role of the Fed in containing the fallout: Made central but now exposed
Speaker(s)
What Wall Street got from the CARES Act
Speaker(s)
How to help small businesses survive COVID-19
Speaker(s)
II. Private responses to the pandemic crisis
COVID-19 as a force majeure in corporate transactions
Speaker(s)
III. Enduring questions through the pandemic lens
Corporate finance in the age of shadow banking
Speaker(s)
Short selling and short selling disclosure in a pandemic
Speaker(s)
Shareholder value, systematic stewardship, and the missing government
Speaker(s)
Q&A
Break
Harvard University session - (local time 14:30 – 16:30 EDT)
Welcome- Harvard University
Speaker(s)
COVID-19, corporate finance stress, and bankruptcy
Macro costs of clogged bankruptcy courts?
Speaker(s)
Forecasting bankruptcy court congestion
Speaker(s)
Bailouts to bankruptcy
Speaker(s)
The case against (ordinary) bankruptcy
Speaker(s)
The case against CARES
Speaker(s)
Current bankruptcy practice and outdated bankruptcy law
Speaker(s)
Discussants of Harvard University session
Discussant
Q&A
Break
Stanford University and Yale University session - (local time 14:00 – 15:20 PDT)
Managing through the pandemic: Silicon Valley firms general counsels' perspective
Speaker(s)
COVID-19 and insider trading in and out of government
Speaker(s)
Discussant
Q&A
Wrap up, open Q&A and concluding comments
Moderator
Speaker(s)
Panelist(s)
Ends
Speakers
Steven Davidoff Solomon
Kristin van Zwieten
Eugene Kandel
Tobias Tröger
Lucrezia Reichlin
Jan Pieter Krahnen
Yishay Yafeh
John Armour
Colin Mayer
Jeffrey Gordon
John Coates
Luigi Zingales
David Skeel
Jonathan Macey
Ronald Gilson
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