Evolution of the Role of General Counsel

Author(s):  
E. Norman Veasey ◽  
Christine T. Di Guglielmo
Keyword(s):  
2015 ◽  
Vol 38 (1) ◽  
pp. 39-56 ◽  
Author(s):  
John L. Abernathy ◽  
Thomas R. Kubick ◽  
Adi Masli

ABSTRACT Prior research provides evidence that individual executives have a significant effect on firm-level tax policy. Further research has shown that having a corporate general counsel (GC) in a firm's top management team (top five highest-paid executives) significantly affects a firm's accounting and disclosure practices. In this paper, we examine the role of the GC in corporate tax policy. Specifically, we use the ascension of the corporate GC to top management as the identifying event in which the role and influence of the corporate GC becomes more salient. We find strong evidence that GC ascension to top management is associated with an increase in tax aggressiveness, as evidenced by greater book-tax differences and a higher likelihood of engaging in tax shelter activities. Data Availability: Data are obtained from public sources identified in the paper.


2021 ◽  
Vol 3 ◽  
Author(s):  
Andrea Carska-Sheppard ◽  
Sarah Ammons

To prevent harassment and abuse in sports, the consensus is that an essential factor is “tone from the top” of the organization. It is key as a catalyst and sustainer of change, whether in the corporate or sports world. An organization's general counsel is one of the go-to top advisors for executive leadership regarding laws and regulations. Additionally, they serve as advisors for issues in other areas, such as public policy, ethical and legal risks, and human rights. With their leadership, general counsels can play a vital role in the prevention of harassment and abuse in an organization. The guidance and leadership of the general counsel should facilitate reviewing and strengthening of the organization's policies and procedures and other strategies helping to prevent and address issues of harassment and abuse. Legal issues become more complex the more global the organization, so more complex strategies are needed to tackle these issues successfully.


1997 ◽  
Vol 91 ◽  
pp. 214-222
Author(s):  
Ibrahim F. I. Shihata
Keyword(s):  

2021 ◽  
Author(s):  
Jonathan Black ◽  
Charles G. Ham ◽  
Michael D. Kimbrough ◽  
Ha Yoon Yee

Firms face a greater risk of lawsuits for overstated rather than understated earnings or net assets, suggesting conservatism can reduce firms' expected legal costs. Because managers with legal expertise are more likely than other managers to recognize the legal benefits of conservatism, this study examines whether legal expertise among members of senior management promotes greater conservatism. Consistent with this prediction, we find that firms with a general counsel (GC) in senior management (our proxy for legal expertise) report more conservatively. We also find that GC firms recalibrate their conservatism levels in response to changes in the legal environment-their conservatism choices are more responsive to litigation against peer firms and to two judicial rulings that affected the litigation risk for firms located in the Ninth Circuit. Overall, our findings suggest that populating senior management with legal experts affects the extent to which a firm's level of conservatism incorporates legal risks.


JAMA ◽  
1966 ◽  
Vol 195 (12) ◽  
pp. 1005-1009 ◽  
Author(s):  
D. J. Fernbach
Keyword(s):  

JAMA ◽  
1966 ◽  
Vol 195 (3) ◽  
pp. 167-172 ◽  
Author(s):  
T. E. Van Metre

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