Stanford Closer Look Series

The Stanford Closer Look series is a collection of short studies through which we explore topics, issues, and controversies in corporate governance. In each study, we take a targeted look at a specific issue and explain why it is important.

Stanford Closer Look|

Governance of Corporate Insider Equity Trades

John D. Kepler, David F. Larcker, Brian Tayan, Daniel J. Taylor

Stanford Closer Look Series. January

2020

Corporate executives receive a considerable portion of their compensation in the form of equity and, from time to time, sell a portion of their holdings in the open market. Executives...

Stanford Closer Look|

Pay for Performance . . . But Not Too Much Pay: The American Public’s View of CEO Pay

David F. Larcker, Brian Tayan

Stanford Closer Look Series. Corporate Governance Research Initiative, November

2019

Among the controversies in corporate governance, perhaps none is more heated or widely debated across society than that of CEO pay. The views that American citizens have on CEO pay...

Stanford Closer Look|

Loosey-Goosey Governance

David F. Larcker, Brian Tayan

Stanford Closer Look Series. Corporate Governance Research Initiative, October

2019

A reliable system of corporate governance is considered to be an important requirement for the long-term success of a company. Unfortunately, after decades of research, we still do not have...

Stanford Closer Look|

Stakeholders and Shareholders: Are Executives Really “Penny Wise and Pound Foolish” About ESG?

David F. Larcker, Brian Tayan, Vinay Trivedi, Owen Wurzbacher

Stanford Closer Look Series. Corporate Governance Research Initiative, July

2019

Currently, there is much debate about the role that non-investor stakeholder interests play in the governance of public companies. Critics argue that greater attention should be paid to the interest...

Stanford Closer Look|

The Business Case for ESG

Brandon Boze, Margarita Krivitski, David F. Larcker, Brian Tayan, Eva Zlotnicka

Stanford Closer Look Series. Corporate Governance Research Initiative, May

2019

Recently, there has been debate among corporate managers, board of directors, and institutional investors around how best to incorporate ESG (environmental, social, and governance) factors into strategic and investment decision-making...

Stanford Closer Look|

Where Does Human Resources Sit at the Strategy Table?

Courtney Hamilton, David F. Larcker, Stephen A. Miles, Brian Tayan

Stanford Closer Look Series. Corporate Governance Research Initiative, February

2019

Two decades ago, McKinsey advanced the idea that large U.S. companies are engaged in a “war for talent” and that to remain competitive they need to make a strategic effort...

Stanford Closer Look|

The Wells Fargo Cross-Selling Scandal

Brian Tayan

Stanford Closer Look Series. Corporate Governance Research Initiative, January

2019

In this Closer Look, we examine the tensions between corporate culture, financial incentives, and employee conduct as illustrated by the Wells Fargo cross-selling scandal. In 2016, Wells Fargo admitted that...

Stanford Closer Look|

Scaling Up: The Implementation of Corporate Governance in Pre-IPO Companies

David F. Larcker, Brian Tayan

Stanford Closer Look Series. Corporate Governance Research Initiative, December

2018

Companies are required to have a reliable system of corporate governance in place at the time of IPO in order to protect the interests of public company investors and stakeholders....

Stanford Closer Look|

The Double-Edged Sword of CEO Activism

David F. Larcker, Stephen A. Miles, Brian Tayan, Kim Wright-Violich

Stanford Closer Look Series. Corporate Governance Research Initiative, November

2018

CEO activism — the practice of CEOs taking public positions on environmental, social, and political issues not directly related to their business — has become a hotly debated topic in...

Stanford Closer Look|

Cashing It In: Private-Company Exchanges and Employee Stock Sales Prior to IPO

David F. Larcker, Brian Tayan, Edward Watts

Stanford Closer Look Series. Corporate Governance Research Initiative, September

2018

Companies in the United States are staying private longer, and this trend has important implications for companies and their employees. Employees holding equity awards in private companies are restricted from...