On February 18, 2022, the US Senate unanimously passed the Courthouse Ethics and Transparency Act, which requires all US federal judges to publish their financial disclosure reports to the public. This legislation closely follows the bipartisan bill passed by the House in December 2021, which sought a similar outcome (see our related post
Stock Ownership
Financial Disclosures for Federal Judicial Officers
Recent investigations share findings that over 130 US Federal judges presided over cases in which they had a financial conflict of interest since 2010. In a 422-4 vote this week, the House passed a bipartisan bill that would require US federal judges to share their financial disclosure reports publicly.
Under this bill designed, which is…
Dual-Class Stock IPOs
By Nicole Veru on
In their dataset and working paper, titled The Rise of Dual-Class Stock IPOs, Dhruv Aggarwal, Ofer Eldar, Yael Hochberg, and Lubomir P. Litov, find that the rise in the number of dual-class IPOs is tied to the increase in bargaining power of founders. In recent years, before 2019, the public markets saw a decrease…
Analysts’ Stock Ownership and Recommendations
By Anna T. Pinedo on
Posted in Stock Ownership
In a recent paper, authors Jesse Chan, Steve Lin, Yong Yu, and Wuyang Zhao review the ways in which owning stock in covered companies affects recommendations by analysts. The paper is based on a review of research reports from the period between 2003 and 2012 from 74 firms. They note that, despite concerns voiced…