Cleaning Corporate Governance
Jens Frankenreiter, Cathay Hwang, Yaron Nili & Eric Talley
170 U. Penn. L. Rev. 1 (forthcoming 2021)
Online Companion Resource
This online resource includes links to online appendices and several data sources associated with the manuscript titled, Cleaning Corporate Governance, 170 U. Penn. L. Rev. 1 (forthcoming 2021) (available on SSRN at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3796628)
If you make use of any of the data sets below, please cite to the above article.
- Appendix C: Comparison to Contemporary ISS Governance Data
- Appendix D: Additional Charter-Level Metrics and Labels
- Appendix E: Additional Text Analysis Details
- Appendix F: Predicting G-Index and CCG-Index using Charter Text Alone
- Full Corpus dataset with chartering histories of S&P 1500 companies: https://forms.gle/UhuihJW343mtBmuj6
- Description: Full corpus of charters used in paper.
- Data set includes: CIKs; All Issuer Charter Documents and Dates
- Note: Following this link will take you to a form to fill out, where you provide us with some information about your team and project. After assenting to our conditions of use, you will be provided with a URL to download a zipped file of our data and the code book. We will email you the password under separate cover.
- Dataset with hand-coded labels for sample (75 issuers): LabelsPanelCCG.xlsx
- Description: Panel of 75 randomly selected issuers with hand-coded labels for all available company-years.
- Data set includes: CIKs; years; Hand-Coded Labels as reflected in the text of company charters. (It does not include content for background state laws -- see below).
- (This file contains the hand-coded labels for a selection of companies, and is made available for evaluation purposes. If the larger data set is needed for publication consideration, we can make that available on a restricted basis.)
- State-Law Data: StateLawPanelCCG.xlsx
- Description: Panel data set tracking Corporate Governance provisions at the state level
- Data set includes: State and year, plus sixteen hand-coded State Law Provisions and four additional provisions taken from existing literature
- Additional labels also track other attributes of statute (e.g., Default/Immutable status; Lowest Level CG Document sufficient to Opt Out; Limitations on Opt-Out choices).
- See first worksheet for additional details and variable descriptions.
- Governance Index File: G and CCG.xlsx
- Description: Matched issuer corrections of G-Index in IRRC database
- Data set includes: Ticker, CUSIP (6 digit), CIK, Year, Company Name, G-Index, CCG-index (Corrected G-Index), G Error (Difference)