Showing results 1 - 10 of 25
| Lucian Bebchuk
December 15, 2020, Video: "London Business School's Centre for Corporate Governance held this virtual event on 10 December 2020, in partnership with the European Corporate Governance Institute and the Harvard Law School Program on Corporate Governance."
Non-HKS Harvard Author Website - Lucian Bebchuk
| Lucian Bebchuk
August 6, 2020, Opinion: "By putting American workers through months of turmoil, the Covid-19 crisis has heightened expectations that large companies will serve the interests of all “stakeholders,” not only shareholders. The Business Roundtable raised such expectations last summer by issuing a statement on corporate purpose, in which the CEOs of more than 180 major companies committed to “deliver...."
Non-HKS Harvard Author Website -…
| Lucian Bebchuk
June 25, 2020, Video, "Join Professor A. Lucian Bebchuk of the Harvard Law School and Professor Colin Mayer, CBE of Saïd Business School, Oxford as they debate one of the great controversies in business today – should it be governed and run for shareholder or stakeholder interests?" Watch Via the Said Business School, Oxford on Youtube
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| Lucian Bebchuk
March 2, 2020, Paper: "Corporate purpose is now the focus of a fundamental and heated debate, with rapidly growing support for the proposition that corporations should move from shareholder value maximization to “stakeholder governance” and “stakeholder capitalism.” In a new study, The Illusory Promise of Stakeholder Governance, we critically…
| Lucian Bebchuk
Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy. Lucian Bebchuk, November 28, 2018, Opinion, "Index funds own an increasingly large proportion of American public companies, currently more than one fifth and steadily growing. Understanding the stewardship decisions of index fund managers—how they monitor, vote, and engage with their portfolio companies—is critical for corporate law scholarship. In a study that we…
| Lucian Bebchuk
The Agency Costs of Controlling Shareholders. Lucian Bebchuk, 2018, Paper, "Economists, legal scholars and courts focus on the wedge between controllers' cash flow and voting rights as perhaps the most important source of agency costs. In this Paper, however, we argue that another important source of agency costs is the nature and scale of other businesses owned by the controlling shareholder. Controllers’ ownership of other businesses—…
| Lucian Bebchuk
The Agency Problems of Institutional Investors. Lucian Bebchuk, Summer 2017, Paper, "Financial agency result from problems economics the dispersion between and corporate of corporate ownership governance managers in large have publicly and long shareholders traded focused corpora- on that the Financial agency problems between corporate managers and shareholders that result from the dispersion of ownership in large publicly traded corporations.…
| Lucian Bebchuk
The Untenable Case for Perpetual Dual-Class Stock. Lucian Bebchuk, June 2017, Paper, "The desirability of a dual-class structure, which enables founders of public companies to retain a lock on control while holding a minority of the company’s equity capital, has long been the subject of a heated debate. This debate has focused on whether dual-class stock is an efficient capital structure that should be permitted at the time of initial public…
| Lucian Bebchuk
Independent Directors and Controlling Shareholders. Lucian Bebchuk, May 2017, Paper, "This Article is part of the research of the Controlling Shareholders Project of the Harvard Law School Program on Corporate Governance. The Article was partly written while Hamdani was a visiting professor at Harvard Law School during the fall of 2015. As detailed below, during the years 2006–2008 and 2011–2012, the authors contributed to reforming Israeli…
| Lucian Bebchuk | Kobi Kastiel
The Untenable Case for Perpetual Dual-Class Stock. Kobi Kastiel, Lucian Bebchuk, April 24, 2017, Paper, "We recently placed on SSRN our study, The Untenable Case for Perpetual Dual-Class Stock. The study, which will be published by the Virginia Law Review in June 2017, analyzes the substantial costs and governance risks posed by companies that go public with a long-term dual-class structure. The long-standing debate on dual-class structure has…