Arthur and Toni Rembe Rock Center for Corporate Governance

About Us

The Arthur and Toni Rembe Rock Center for Corporate Governance is a joint initiative of Stanford Law School and Stanford Graduate School of Business. The Center was created to advance the understanding and practice of corporate governance in a cross-disciplinary environment where leading academics, business leaders, policymakers, practitioners and regulators can meet and work together. The Center is led by outstanding Faculty with active collaboration from its Advisory Board.

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Research

The Rock Center provides an environment focused on innovation and collaboration, drawing on the world-class resources of Stanford University, and serves as a focal point for sustained empirical research. The Center’s research applies rigorous methods to understand the performance consequences of corporate governance by taking an in-depth and interdisciplinary look at the inner workings of corporate boards, regulators, institutional investors, consultants, and others involved in the governance process.

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The Rock Center Working Paper Series offers an e-library of research papers and abstracts on corporate governance topics. This continuously updated library is accessible through the Social Science Research Network (SSRN).

The Foreign Corrupt Practices Act (FCPA) Clearinghouse, a collaboration with Sullivan & Cromwell LLP, operates as a database, a repository of original source documents, and a supplier of analytics relating to the enforcement of the FCPA.

The Securities Class Action Clearinghouse (SCAC), a collaboration with Cornerstone Research, provides detailed information related to the prosecution, defense, and settlement of federal class action securities fraud litigation. The SCAC team maintains a filings database of more than 5,000 securities class action lawsuits filed since the passage of the Private Securities Litigation Reform Act of 1995.

The fully searchable COVID-19 Memo Database includes thousands of memoranda addressing the legal, regulatory, accounting, and governance issues raised by the current COVID-19 crisis.

 

 

The Corporate Governance Research Initiative develops insights into the practice of corporate governance to advance intellectual understanding of this critical area of business management.

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In the recent Closer Look, Environmental Spinoffs: The Attempt to Dump Liability Through Spin and Bankruptcy, we examine the practice of spinning off environmental liabilities into a separate company that is inadequately capitalized to satisfy them. How widespread is this type of activity? Are current governance mechanisms adequate to protect against it?

Scrutiny of CEO pay increases during times of economic stress. This Closer Look examines the CEO compensation decisions of large publicly traded companies in the U.S. following the spread of COVID-19. Sharing the Pain: How Did Boards Adjust CEO Pay in Response to COVID-19? 

The latest Closer Look, Gaming the System: Three ‘Red Flags’ of Potential 10b5-1 Abuse, presents evidence on the trading behavior of corporate executives who use these plans to engage in opportunistic, large-scale selling that appears to undermine the very purpose of Rule 10b5-1.

The most recent Research Spotlight, Board Composition, Quality, & Turnover, looks at appointing outside CEOs as directors, industry expertise and director skills in relation to performance, stock market reaction to director resignations, and whether directors are penalized for poor oversight.

Upcoming Events

Recent Online Events

Rock Center Shorts

Brief video and podcast sessions with expert guests in conversation with Stanford faculty and Rock Center leadership. Topics focus on current issues in corporate governance for board members, corporate executive leaders and advisors.

Executive Education Programs

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The Rock Center hosts several domestic and international executive education programs for directors and senior executives, including our flagship program, Stanford Directors’ College, as well as Directors’ Consortium, and the Stanford/NVCA Venture Capital Symposium.

 

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Leadership

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Michael Callahan

Michael Callahan

  • Professor of the Practice of Law
  • Executive Director of the Arthur and Toni Rembe Rock Center for Corporate Governance
Robert M. Daines

Robert M. Daines

  • Pritzker Professor of Law and Business
  • Associate Dean for Global Programs
  • Senior Faculty, Rock Center for Corporate Governance
David F. Larcker

David F. Larcker

  • James Irvine Miller Professor of Accounting, Stanford Graduate School of Business
  • Senior Faculty, Rock Center for Corporate Governance
  • Professor, by courtesy, of Law
Kristen Savelle 1

Kristen Savelle

  • Managing Director, Rock Center for Corporate Governance at Stanford University
  • Co-Director, Stanford/NVCA Venture Capital Symposium

News Coverage

Millennium Emerges As Top Hedge Fund Investor In Spacs

Financial Times

Michael Klausner, a professor at Stanford Law School who has studied Spacs, called them “an enormous gold mine” for hedge funds. “It offers an investment with no downside whatsoever and a free warrant in a company to be designated later.”

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Contact the Rock Center

559 Nathan Abbott Way
Stanford, CA 94305
rockcenter@law.stanford.edu

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