Biography

An internationally recognized corporate law scholar, Robert Daines is widely known for his rigorous statistical analysis of empirical data on the relationship between economic theory and corporate governance and contracting in practice. His recent work has focused on issues in corporate governance, such as CEO pay, mandatory disclosure regulations, and the use of classified boards of directors. A respected academic, Professor Daines’ work has appeared in such top publications as the Journal of Financial Economics, the Journal of Law, Economics and Organization, and Yale Law Journal. Before joining the Stanford Law School faculty in 2004, he was a professor of law at New York University School of Law and an associate in the leveraged finance department of Goldman Sachs, where he advised firms on junk bonds, bank financing, and project finance in emerging markets. Early in his career he clerked for Judge Ralph K. Winter of the U.S. Court of Appeals for the Second Circuit.

Professor Daines is the Co-Director of the Arthur and Toni Rembe Rock Center for Corporate Governance and has an appointment (by courtesy) with the Stanford Graduate School of Business.

Key Works

• Robert M. Daines, The Incorporation Choices of IPO Firms (Initial Public Offerings), 77 New York University Law Review 1559-1611 (2002).
• Michael Klausner and Robert M. Daines, Do IPO Charters Maximize Firm Value? Antitakeover Protection in IPOs, 17 Journal of Law, Economics, & Organization 83-120 (April 2001).
• Robert M. Daines, Does Delaware Law Improve Firm Value?, 62 Journal of Financial Economics 525-558 (2001).

In the News

• Who's Watching the Watchdogs?
  Fortune, July 07, 2008
• Lifting The Lid: New Study Takes Aim At Governance Grades
  Reuters, July 03, 2008
• Study Hits Governance Ratings’ Effectiveness
  Pensions & Investments, July 01, 2008
• Shareholder Ire May Reshape Yahoo
  The Christian Science Monitor, May 07, 2008

Courses & Programs

Courses

• Corporations

Programs

• Arthur and Toni Rembe Rock Center for Corporate Governance, Faculty Director
• John M. Olin Program in Law and Economics, Pritzker Professor of Law and Business
• Stanford Program in Law, Economics & Business, Pritzker Professor of Law and Business

Publications & Cases

Recent Publications View All

• Robert Daines, Ian Gow, and David Larcker, Rating the Ratings: How Good Are Commercial Governance Ratings? Arthur and Toni Rembe Rock Center for Corporate Governance, (June 2008)
• Robert M. Daines and Michael Klausner, Economic Analysis of Corporate Law, in The New Palgrave Dictionary of Economics, Lawrence E. Blume and Stephen Durlauf, eds., New York: Macmillan, 2nd. ed., 2008.
• Robert M. Daines, The Good, the Bad, and the Lucky: CEO Pay and Skill, Stanford Lawyer, Spring 2005, p. 41.
• Robert M. Daines, The Good, The Bad, And The Lucky: CEO Pay and Skill, University of Pennsylvania Institute for Law and Economics, Research Paper Series (2005). (with Vinay B. Nair and Lewis A. Kornhauser)
• Robert M. Daines and Michael Klausner, Agents Protecting Agents: An Empirical Study of Takeover Defenses in Spinoffs, Stanford University Law School. Working Paper (December 16, 2004). 39 pages.
• Robert M. Daines, The Incorporation Choices of IPO Firms (Initial Public Offerings), 77 New York University Law Review 1559-1611 (2002).
• Michael Klausner and Robert M. Daines, Do IPO Charters Maximize Firm Value? Antitakeover Protection in IPOs, 17 Journal of Law, Economics, & Organization 83-120 (April 2001).
• Robert M. Daines, Does Delaware Law Improve Firm Value?, 62 Journal of Financial Economics 525-558 (2001).
• Michael Klausner and Robert M. Daines, Do IPO Charters Maximize Firm Value? Antitakeover Protection in IPOs, New York University Center for Law and Business Working Paper No. 99-015; and Stanford Law School John M. Olin Law and Economics Working Paper No. 184, pp. 1-49 (January 16, 2000).
• Robert M. Daines, Is There a Delaware Premium?, 21 Corporate Board 22-26 (May/June 2000).

Affiliations & Honors

Professional Affiliations

• Referee, Journal of Finance
• Referee, Journal of Law and Economics
• Referee, Journal of Law, Economics and Organization
• Referee, Journal of Legal Studies
• Former Chair, Law and Economics Section, Association of American Law Schools
• Former chair/organizer, Corporate and Securities Law: Empirical Section of the American Law and Economics Association Annual Meeting