HLS News January 2003

• Study Questions Competition in Corporate Charters

  A study by two Harvard Law School researchers provides evidence that the vigorous competition among states over corporate charters--the engine that many believe pushes toward rules that benefit shareholders--is largely a myth. This evidence leads the researchers to call for federal law to provide a federal incorporation option, as well as to enable shareholders to initiate and vote to approve corporate reincorporation to a different jurisdiction. The study, "Vigorous Race or Leisurely Walk: Reconsidering the Competition over Corporate Charters," by Professor Lucian Bebchuk and Olin Fellow Assaf Hamdani, will soon appear in the Yale Law Journal.

• Ken Starr to Speak on Role of the Supreme Court

  On Friday, Jan. 10, Ken Starr, a partner at the firm of Kirkland and Ellis, will discuss his latest book, "First Among Equals: The Supreme Court in American Life." Starr's speech will begin at 5 p.m. in the Langdell South classroom.

• Study Suggests Staggered Boards Hurt Shareholders

  Staggered boards, which a majority of public companies now have, hurt shareholders by enabling managers to fend off value-increasing offers from hostile bidders, according to new empirical research by three Harvard Law professors. Staggered boards hurt shareholders of hostile bid targets even when a majority of the board is made of independent directors, and they do not appear to benefit shareholders of targets that are acquired in a negotiated acquisition. The new study--conducted by Harvard Law School professors Lucian Bebchuk, John Coates, and Guhan Subramanian--will appear in an upcoming Stanford Law Review symposium focusing on the researchers' work.

• HLS Announces Oneida Indian Nation Professorship

  Harvard Law School has announced the establishment of The Oneida Indian Nation Professorship of Law. This chair--the first endowed chair in American Indian studies at Harvard University and the only professorship of its kind east of the Mississippi River--will allow Harvard Law School to continue its leadership role in the development of emerging legal fields.

• Symposium Explores Global Accounting Standards

  On Feb. 3, Professor Hal S. Scott, director of the HLS Program on International Financial Systems, will moderate a panel discussion on the merits of establishing a set of global accounting standards. The symposium, sponsored by NASD, will feature participants from industry and government regulatory authorities around the globe.

• Fried to Speak in Honor of Reagan's 92nd Birthday

  On Tues., Feb. 4 at 6:30 p.m. Harvard Law School Professor Charles Fried will speak about President Ronald Reagan's legacy and lasting impact on American politics. This speech will kick-off the Harvard Law School Republican's "Reagan Week" festivities honoring the 40th president's 92nd birthday. The event will be held in Pound 100.