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On July 1, 2015, the Securities and Exchange Commission (SEC) proposed an excess-pay clawback rule to implement the provisions of Section 954 of the Dodd-Frank Act. I explain why the SEC?s proposed Dodd-Frank clawback, while reducing executives? incentives to misreport, is overbroad. The economy and investors would be better served by a more narrowly targeted ?smart?
excess-pay clawback that focuses on fewer issuers, executives, and compensation arrangements.
In this essay, we propose a principled approach for government bailouts of critical/systemic firms who find themselves in COVID-19-induced financial...
We use the enactment of limited liability legislation across Canadian provinces to examine the effect of the change in liability status on firm outcomes...