European Corporate Governance Institute (ECGI)

⏳ 2 days to go to register for this webinar 👇 👇👇

🌍 Conference Report: 2024 ECGI Responsible Capitalism Summit 🌍   Experts call for ambition and radical collaboration in tackling #climatechange.   The 2024 ECGI Responsible Capitalism Summit concluded at the French Embassy in Berlin on 10th September with a renewed sense of urgency as experts in corporate governance, finance, and international policy called for accelerated climate action.   The conference report dives into the challenges and opportunities ahead, with key takeaways including:   ✅ Decarbonizing Financial Markets: Financial institutions play a pivotal role in directing capital flows toward sustainable projects and away from fossil fuels.   ✅ Technology & Innovation: From hydrogen and carbon capture to renewable energy solutions, scaling up these technologies is key to achieving climate goals.   ✅ Global Collaboration: International partnerships are essential for harmonizing climate policies and ensuring a just transition for all communities.   🚀 Explore the full report for more insights into the path toward net-zero: https://lnkd.in/gqp2kGAP   Stay tuned for the conference video highlights! Featuring perspectives from: 💠 Nils Bartsch, Urgewald 💠 Marco Becht, Solvay Brussels School of Economics and Management, ULB and ECGI 💠 Patrick Bolton, Imperial College London, CEPR - Centre for Economic Policy Research and ECGI 💠 Estelle Cantillon, ULB 💠 Herman Baron Daems, KU Leuven and ECGI 💠 François Delattre, Ambassade de France en Allemagne 💠 Robert F. Engle, NYU Stern School of Business 💠 Laurent Fabius, Conseil constitutionnel 💠 Zachery Halem, Lazard 💠 Marcin Kacperczyk, Imperial College London 💠 Eva Meyer, BNP Paribas 💠 Jennifer Morgan, Auswärtiges Amt (Federal Foreign Office) Germany 💠 Nazneen Rahman, YewMaker and AstraZeneca 💠 Dirk Schoenmaker, Erasmus University Rotterdam and CEPR - Centre for Economic Policy Research 💠 Christophe Schramm, Siemens Energy 💠 Sahar Shamsi, Oxera Consulting LLP 💠 Boris Vallee, PhD, CFA, Harvard Business School #ResponsibleCapitalism #NetZero #Sustainability #ClimateAction 

📗ECGI Working Paper Codetermination’s Moment of Truth: Overseas Workers: https://lnkd.in/g6FXinPh 👥 Author  💠Jens Dammann, The University of Texas at Austin and European Corporate Governance Institute (ECGI) The paper is essential for policymakers and scholars exploring the global implications of codetermination, as it provides a nuanced framework for weighing the costs and benefits in an international context. It argues that while including foreign-based workers could amplify codetermination’s benefits—such as improved governance and reduced offshoring—it also introduces challenges, including increased costs and potential conflicts with U.S. and international laws. #ecgiwp SSRN #CorpGov #Codetermination #EmployeeRepresentation

📚Book Announcement: “Beyond Banks: Technology, Regulation, and the Future of Money” by Dan Awrey (Cornell Law School and European Corporate Governance Institute (ECGI)).   This book explores the intertwined nature of banking, money, and payments, highlighting how outdated laws undermine financial stability. It advocates for unbundling these functions, strengthening monetary commitments, and fostering innovation, urging policymakers to rethink regulations for a safer, more advanced, and inclusive financial system. Available👇 https://lnkd.in/g-UWpgRr   Published by Princeton University Press   #FutureOfFinance #FintechRegulation #DigitalCurrencyReform

📗ECGI Working Paper  Clauses with Claws: Reducing Agency Costs in Late-Merging SPACs: https://lnkd.in/gFFM65ge 👥 Authors  💠 Diego Leal, The University of Texas at El Paso 💠 Fang Lin, CFA, Ph.D., Pacific Lutheran University 💠 Asif Malik, California State University-San Bernardino 💠 Peter Mueller, Fordham University 💠 Bryan Stanhouse, University of Oklahoma 💠 Doris Zhou, University of Oklahoma The study is helpful for understanding how contractual provisions can mitigate agency risks, especially in high-pressure SPAC mergers, offering valuable insights for investors and SPAC sponsors alike. Contingency clauses can align incentives between SPAC managers and investors, limiting last-minute, lower-quality deals and enhancing both merger announcement returns and operational outcomes. 💡This paper will be presented at the upcoming ECGI - Boca Corporate Finance and Governance Conference. #ecgiwp SSRN #SPACPerformance #CorpGov #FinancialResearch

📗ECGI Working Paper Implicit versus Explicit Contracting in Executive Compensation for Environmental and Social Performance: https://lnkd.in/gnW5mP5z 👥Authors 💠 Roni Michaely, The University of Hong Kong and European Corporate Governance Institute (ECGI) 💠 Thomas Schmid, The University of Hong Kong 💠 Menghan Wang, The University of Hong Kong The study is important for companies and regulators interested in optimizing ES performance through well-structured executive incentives. It is noteworthy for its nuanced analysis which finds that explicit contracts, which tie compensation to clear, measurable goals (like emissions reduction), lead to better performance on these specific targets. In contrast, implicit contracts are more effective for qualitative, hard-to-measure goals like community engagement. #ecgiwp SSRN #ResponsibleCapitalism #ExecutiveCompensation #SustainableLeadership

⏰ Final day to submit an application to become an ECGI Research Member (Deadline 23.00 CEST, Friday 25 October). If you, or someone you know, would like to be considered for research membership, click the link here: 👉 https://lnkd.in/gGNjxgra

📢CALL FOR PAPERS: 18th Annual Drexel Corporate Governance Conference   The 2025 conference is inviting paper submissions in any area related to #corporategovernance, including the board of directors, compensation, ownership structure, #shareholder activism, mergers, #privateequity, capital structure as a form of governance, #ESG-related issues, corporate governance regulation, talent management and the political economy of corporate governance. This year's conference offers an optional dual submission to the Review of Corporate Finance Studies (RCFS). The conference is hosted by the Drexel LeBow Raj & Kamla Gupta Governance Institute in collaboration with the European Corporate Governance Institute (ECGI) and the Society for Financial Studies (SFS). ⌛️Submission deadline: 30 December 2024 (midnight EST) 👥Conference: Friday 11 April 2025, Drexel University, Philadelphia, Pennsylvania, U.S.A 📝Submit a paper: https://lnkd.in/gKjT2urx Organised by: Paolo Volpin (Drexel University and European Corporate Governance Institute (ECGI)). Programme Committee: David Becher, Jay Cai, Jeffrey Coles, Naveen Daniel, Diane Del Guercio, David Denis, Daniel Dorn, Eli Fich, Laura Field, Nickolay Gantchev, Todd Gormley, Thomas Griffin, Jarrad Harford, Peter Iliev, Wei Jiang, Dalida Kadyrzhanova, Joseph Kalmenovitz, Jonathan Karpoff, Tanja Kirmse, Michelle Lowry, Nadya Malenko, Lalitha Naveen, Ed Nelling, greg nini, Micah Officer, Gordon Phillips, Anil Shivdasani, Anh Luong Tran, Paolo Volpin (lead), Michael Weisbach, Jared Wilson, Tracie Woidtke, Yuhai Xuan, Ke Yang and David Yermack. #ecgievent

Registration is open for this nice online seminar on the #MandatoryBidRule organised by our friends at the AICG Korea University Business School. Details below 👇

📗ECGI Working Paper Unravelling Bidding Strategies in M&A Transactions: Evidence from the Private Phase of the Deal Process: https://lnkd.in/dHAVGiSg 👥Authors 💠 Audra L. Boone, Texas Christian University and European Corporate Governance Institute (ECGI) 💠 Wouter De Maeseneire, Vlerick Business School 💠 Sebastien Dereeper, IAE Lille University School of Management 💠 Mathieu Luypaert, Vlerick Business School 💠 MAI N., Vietnamese-German University This study is crucial for M&A professionals, highlighting how initial bid strategies impact deal outcomes and value creation. It reveals that stronger initial bids not only reduce target resistance and the need for bid revisions but also increase the likelihood of successfully closing the deal. Additionally, precise bids signal bidder competence, leading to faster deal processes and higher acquirer returns. #ecgiwp SSRN #MergersAndAcquisitions #BiddingStrategies #DealNegotiations