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Tuesday, 4 February 2020 - 12.45pm
Location: 
Faculty of Law, B16

Speaker: Jon Lukomnik (Sinclair Capital & IRRC Institute)

This presentation focuses on underlying causes for the emerging systemic emphasis among major corporate governance institutional owners. It does this by building incorporating three stages of corporate governance: structure and process as governance (stage I), broadening to include E and S factors (stage II), and stage III, a system focus. By looking at system focus this paper breaks ground by arguing one must examine the role modern portfolio theory (MPT) in the investment processes and explore how MPT impacts corporate structure, behavior and governance.

The paper focuses on the dynamics of a portfolio, and of multiple portfolios (the market) becoming part of governance analysis and actions, challenging the idea that portfolio investment risk is limited to diversifying idiosyncratic risk through security selection assuming that will have no impact on beta. There are strong feedback loops between portfolio risk management, beta and systemic risk: they are conjoined.

3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners. For more information on past events including recordings, please refer to the Centre activities page.

For all seminars in B16, lunch will be available beforehand in the Basement atrium area. There is no charge for lunch or to attend the seminar.

Enquiries to: 3cl@law.cam.ac.uk

Centre for Corporate and Commercial Law

Events