Showing results 1 - 10 of 21
| Mark Roe
July 31, 2020, Video, "The government announced and implemented a host of economic measures in response to the Covid-19 crisis, including partial suspension of its corporate insolvency regime. This panel discussed some global responses to the economic crisis in the context of business insolvency and evaluated if a separate relief enactment can help Indian businesses tide over it."…
| Mark Roe
May 5, 2020, Opinion, "The COVID-19 pandemic looks likely to cause the biggest surge in bankruptcies that the United States' court system has ever experienced. Without an immediate increase in judicial capacity to manage the coming flood of cases, an even larger economic disaster awaits." …
| Mark Roe
Stock Market Short-Termism’s Impact. Mark Roe, December 2018, Paper, "Stock-market--driven short-termism is crippling the American economy, according to legal, judicial, and media analyses. Firms forgo the R&D they need, cut capital spending, and buy back their own stock so feverishly that they starve themselves of cash. The stock market is the primary cause: directors and executives cannot manage for the long term when their shareholders…
| Mark Roe | Robert Pozen
Six Months Isn’t ‘Long Term’. Robert Pozen, Mark Roe, August 20, 2018, Opinion, "President Trump tweeted on Friday that he had directed the Securities and Exchange Commission to study a suggestion from a business leader, later revealed as outgoing Pepsi CEO Indra Nooyi: “Stop quarterly reporting & go to a six month system.” The popular..."…
| Mark Roe
Giving Bondholders a Voice in Debt Restructuring. Mark Roe, December 14, 2015, Opinion. "Congress is poised to retroactively validate hardball restructuring tactics in the bond market that courts have struck down in major reorganization cases like that of Caesars Entertainment. The underlying problem is that since the 1930s, the securities laws have barred basic free contracting among bondholders, via the Trust Indenture Act of 1939. Although…
| Mark Roe | Robert Pozen
Those Short-Sighted Attacks on Quarterly Earnings. Robert Pozen, Mark Roe, , October 7, 2015, Opinion. "The clamor against so-called corporate short-term thinking has been steadily rising, with a recent focus on eliminating the quarterly earnings report that public firms issue. Quarterly reports are said to push management to forgo attractive long-term projects to meet the expectations of investors and traders who want smooth, rising earnings…
| Mark Roe
The Imaginary Problem of Short-Term Thinking. Mark Roe, August 17, 2015, Opinion. "Corporate "short-termism" may not be as interesting as Donald Trump's latest gaffe, but it's becoming an issue in the 2016 U.S. presidential race. Corporations, the idea goes, are being run too much with an eye toward quarterly earnings instead of the long-term good of their businesses, their employees and the economy. Investors are to blame, and something needs…
| Mark Roe
A Smarter Way to Tax Big Banks. Mark Roe, February 1, 2015, Opinion. "President Obama has reanimated the idea of taxing the debt of big banks to help stabilize the banking industry and prevent future financial crises. The administration argues that the new tax would discourage banks from taking on too much risk by making it 'more costly for the biggest financial firms to finance their activities with excessive borrowing.' The president’s bank…
| Mark Roe
The Fed’s Culture War. Mark Roe, November 20, 2014, Opinion. "At a closed-door conference attended by senior bankers, regulators, and some academics, Federal Reserve Governor Daniel Tarullo and Federal Reserve Bank of New York President William Dudley used their bully pulpit to do something unexpected. Instead of focusing on how to bolster bank stability – channeling more capital toward the largest institutions, curbing their riskiest activities…
| Mark Roe
Structural Corporate Degradation Due to Too-Big-To-Fail Finance. Mark Roe, April 9, 2014, Paper. "Corporate governance incentives at too-big-to-fail financial firms deserve systematic examination. For industrial conglomerates that have grown too large to be efficient, internal and external corporate structural pressures push to resize the firm. External activists press the firm to restructure to raise its stock market value. Inside the firm,…