Biography

Senior Faculty, Arthur and Toni Rembe Rock Center for Corporate Governance; Professor (by courtesy) of Finance, Graduate School of Business

An internationally recognized corporate law scholar, Robert M. 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 The 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 a senior faculty member with 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).
• Robert M. Daines and Michael Klausner, 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).

Courses & Programs

Courses

• Corporations

Programs

• Arthur and Toni Rembe Rock Center for Corporate Governance, SLS: Pritzker Professor of Law and Business
• John M. Olin Program in Law and Economics, Pritzker Professor of Law and Business

Publications & Cases

Recent Publications View All

• Robert M. Daines, Ian D. Gow, David F. Larcker, Rating the Ratings: How Good Are Commercial Governance Ratings?, 98 Journal of Financial Economics 439 (2010).
• 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.
• Davina Drabkin prepared this case under the supervision of Professor Robert Daines, PeopleSoft Finally Accepts Oracle's Offer(B), Stanford: Stanford Graduate School of Business, 2006.
• Davina Drabkin prepared this case under the supervision of Professors Robert Daines and Vinay B. Nair, Oracle's Hostile Takeover of PeopleSoft(A), Stanford: Stanford Graduate School of Business, 2006.
• 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).
• Robert M. Daines and Michael Klausner, Do IPO Charters Maximize Firm Value? Antitakeover Protection in IPOs, 17 Journal of Law, Economics, & Organization 83-120 (April 2001).

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