Sunday, August 20, 2017

ICYMI: #corpgov Weekend Roundup (August 20, 2017)

August 20, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Thursday, August 17, 2017

ICYMI: #corpgov Midweek SSRN & Law Review Roundup (August 17, 2017)

August 17, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Sunday, August 13, 2017

ICYMI: #corpgov Weekend Roundup (August 13, 2017)

August 13, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Thursday, August 10, 2017

ICYMI: #corpgov Midweek Roundup (August 10, 2017)

August 10, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Monday, August 7, 2017

University of Akron School of Law International Law Faculty Position

The following comes from the University of Akron School of Law:

The University of Akron School of Law anticipates hiring a tenure-track or tenured faculty member with a focus in the area of international and comparative law to begin teaching in Fall 2018.  We seek a candidate demonstrating general international law expertise with a preference for private international law, including but not limited to international business transactions, international trade, and/or international commercial arbitration.  Both entry-level and lateral candidates are encouraged to apply.  The appointment may include opportunities for administrative leadership overseeing study abroad programs, programs for foreign lawyers, and other international programs.  The committee is interested in candidates with scholarly distinction or great promise as demonstrated by strong early scholarship and a thoughtful agenda for future work, as well as a commitment to excellence in teaching.

The University of Akron School of Law is a public, mid-size law school of approximately 500 students located in the Akron/Cleveland metropolitan area.  With a new building, a new dean, and strong enrollments, Akron Law provides an energized community and faculty environment.  The School of Law has a strong tradition of teaching and offers students low tuition, a commitment to student success, strong job placement, award-winning clinical programs, a national trial team program, and unique mentorship with the local and regional bars.  It has research centers in Intellectual Property, Constitutional Law, and Professional Responsibility.  Akron Law has recently enhanced its international initiatives including new collaborative relationships with universities in Asia, an accelerated juris doctor program for international students, visiting international scholars, and a four-week, three-city, two-country study abroad program in Japan and South Korea.  In addition, the larger University has been expanding international initiatives and programming.  The University of Akron is a public research university of 25,000 students, with a national reputation in polymer science, engineering, and business in addition to law.  It is centered in Akron, Ohio, a city with a population of 200,000, known for its low cost of living and high quality of life, its surrounding natural beauty including the Cuyahoga Valley National Park, its history of industrial innovation, and its multitude of cultural, artistic, athletic, and recreational opportunities.

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August 7, 2017 in International Business, International Law, Jobs, Stefan J. Padfield | Permalink | Comments (0)

Sunday, August 6, 2017

The Inclusive Capitalism Shareholder Proposal

My latest paper, The Inclusive Capitalism Shareholder Proposal, 17 U.C. Davis Bus. L.J. 147 (2017), is now available on Westlaw. Here is the abstract:

When it comes to the long-term well being of our society, it is difficult to overstate the importance of addressing poverty and economic inequality. In Capital in the Twenty-First Century, Thomas Piketty famously argued that growing economic inequality is inherent in capitalist systems because the return to capital inevitably exceeds the national growth rate. Proponents of “Inclusive Capitalism” can be understood to respond to this issue by advocating for broadening the distribution of the acquisition of capital with the earnings of capital. This paper advances the relevant discussion by explaining how shareholder proposals may be used to increase understanding of Inclusive Capitalism, and thereby further the likelihood that Inclusive Capitalism will be implemented. In addition, even if the suggested proposals are rejected, the shareholder proposal process can be expected to facilitate a better understanding of the strengths and weaknesses of Inclusive Capitalism, as well as foster useful new lines of communication for addressing both poverty and economic inequality.

August 6, 2017 in Corporate Finance, Corporate Governance, CSR, Financial Markets, Research/Scholarhip, Securities Regulation, Shareholders, Social Enterprise, Stefan J. Padfield | Permalink | Comments (0)

Thursday, August 3, 2017

ICYMI: #corpgov Midweek Roundup (August 3, 2017)

August 3, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Sunday, July 30, 2017

ICYMI: #corpgov Weekend Roundup (July 30, 2017)

July 30, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Thursday, July 27, 2017

ICYMI: #corpgov Midweek Roundup (July 27, 2017)

July 27, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Sunday, July 23, 2017

ICYMI: #corpgov Tweets From the Week (July 23, 2017)

July 23, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Thursday, July 20, 2017

ICYMI: #corpgov SSRN & Law Review Roundup (July 20, 2017)

July 20, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Sunday, July 16, 2017

ICYMI: #corpgov Tweets From the Week (July 16, 2017)

July 16, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Thursday, July 13, 2017

ICYMI: #corpgov SSRN Roundup (July 13, 2017)

July 13, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Sunday, July 9, 2017

ICYMI: #corpgov Tweets From the Week (July 9, 2017)

July 9, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Thursday, July 6, 2017

Wisniewski, Yekini, and Omar on “Psychopathic Traits of Corporate Leadership as Predictors of Future Stock Returns”

Tomasz Piotr Wisniewski, Liafisu Sina Yekini, and Ayman M. A. Omar posted “Psychopathic Traits of Corporate Leadership as Predictors of Future Stock Returns” on SSRN on June 13, 2017. You can find their abstract here

I was particularly interested in how the authors measured psychopathy. Here is a relevant excerpt:

Using UK data, we construct a number of corporate psychopathy indicators and link them to the returns that ensue over the next 250 trading days - a period roughly equivalent to one calendar year.

Even if clear guidance exists on how to diagnose psychopathic personality disorder in humans (Hare 1991, 2003), the practical difficulty is that executives will be generally unwilling to participate in time consuming surveys, particularly those that are likely to expose the dark side of their character. We choose to follow a more pragmatic approach and, similarly to Chatterjee and Hambrick (2007), collect information in an unobtrusive way by going through company-related archives and data. Firstly, using automated content analysis we assess to what extent the language in annual report narratives is symptomatic of psychopathy. This is done by counting the frequency of words that are aggressive, characteristic of speakers who are self-absorbed and who have the tendency to assign blame to others. Secondly, we look at likely correlates of managerial integrity. More specifically, we try to identify companies whose auditors have expressed reservations in the Emphasis of Matter section of the annual report and those that have experienced a publicized Financial Reporting Council (FRC) intervention. Thirdly, we consider a measure that derives from the observation that psychopaths require stronger external stimuli to experience emotions and, therefore, have the tendency to take high risks. We assume that excessive exposure in a corporation will result in a high degree of idiosyncratic risk. This type of risk, which is entirely company-specific and unrelated to the broader economy, is measured in our empirical inquiry. Lastly, we construct a variable to capture the reluctance of a company to donate to charitable causes.

Our empirical investigation documents a negative association between the presence of managerial psychopathic traits and future return on common equity.

July 6, 2017 in Behavioral Economics, Corporate Governance, Management, Psychology, Research/Scholarhip, Stefan J. Padfield | Permalink | Comments (0)

Sunday, July 2, 2017

ICYMI: #corpgov Tweets From the Week (July 2, 2017)

July 2, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Thursday, June 29, 2017

ICYMI: #corpgov SSRN Roundup (June 29, 2017)

June 29, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Sunday, June 25, 2017

ICYMI: #corpgov Tweets From the Week (June 25, 2017)

June 25, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Thursday, June 22, 2017

ICYMI: #corpgov SSRN Roundup (June 22, 2017)

June 22, 2017 in Stefan J. Padfield | Permalink | Comments (0)

Sunday, June 18, 2017

ICYMI: #corpgov Tweets From the Week (June 18, 2017)

June 18, 2017 in Stefan J. Padfield | Permalink | Comments (0)