Now showing items 1-20 of 61

    • A Better Plan for Addressing the Financial Crisis 

      Bebchuk, Lucian Arye (Berkeley Electronic Press, 2008)
      This paper critiques the proposed emergency legislation for spending $700 billion on purchasing financial firms' troubled assets to address the 2008 financial crisis. It also puts forward a superior alternative for advancing ...
    • Bundling and Entrenchment 

      Bebchuk, Lucian Arye; Ehud, Kamar (Harvard University, Harvard Law School, 2010)
      Because corporate charters can be amended only with shareholder approval, it is widely believed that new charter provisions appear in midstream only if shareholders favor them. However, the approval requirement may fail ...
    • Buying Troubled Assets 

      Bebchuk, Lucian Arye (Yale Journal on Regulation, 2009)
      This paper analyzes how government intervention in the market for banks' troubled assets is best designed, and also uses this analysis to evaluate the public-private investment program announced by the U.S. government in ...
    • The Case for Increasing Shareholder Power 

      Bebchuk, Lucian Arye (Harvard University, Harvard Law School, 2005)
      This paper reconsiders the basic allocation of power between boards and shareholders in publicly traded companies with dispersed ownership. U.S. corporate law has long precluded shareholders from initiating any changes in ...
    • Consent and Exchange 

      Bar-Gill, Oren; Bebchuk, Lucian Arye (University of Chicago Press, 2010)
      In some exceptional circumstances, a restitution rule entitles parties that unilaterally confer a benefit on another party to recover the estimated value of the benefit. Usually, however, the law applies a mutual consent ...
    • Corporate Political Speech: Who Decides? 

      Bebchuk, Lucian Arye; Jackson Jr., Robert (Harvard University, Harvard Law School, 2010)
      The Supreme Court spoke clearly this Term on the issue of corporate political speech, concluding in Citizens United v. FEC that the First Amendment protects corporations’ freedom to spend corporate funds on indirect support ...
    • The Costs of Entrenched Boards 

      Bebchuk, Lucian Arye; Cohen, Alma (Elsevier, 2005)
      This paper investigates empirically how the value of publicly traded firms is affected by arrangements that protect management from removal. Staggered boards, which a majority of U.S. public companies have, substantially ...
    • Director Liability 

      Bebchuk, Lucian Arye; Strine, Leo E. Jr.; Bachelder, Joseph; Campos, Roel; Georgiou, Byron; Hevesi, Alan; Lerach, William; Mendelsohn, Robert; Monks, Robert; Myerson, Toby; Olson, John; Wilcox, John (Delaware Law School of Widener College, 2006)
      This article contains the edited transcript of a forum on personal liability of directors held at Harvard Law School in November 2005. Eleven panelists offer their diverse views and perspectives on this subject. The ...
    • Does the Evidence Favor State Competition in Corporate Law 

      Bebchuk, Lucian Arye; Cohen, Alma; Ferrell, Frank A. (California Law Review Inc., 2002)
    • The Elusive Quest for Global Governance Standards 

      Bebchuk, Lucian; Hamdani, Assaf (2009)
      Researchers and shareholder advisers have devoted much attention to developing metrics for assessing the governance of public companies around the world. These important and influential efforts, we argue, suffer from a ...
    • Executive Pensions 

      Bebchuk, Lucian Arye; Jackson, Robert (University of Iowa, College of Law, 2005)
      This paper presents evidence of the extent to which omitting the value of pension benefits has undermined the accuracy of existing estimates of executive pay, its variability, and its sensitivity to performance.We study ...
    • Fairness Opinions: How Fair Are They and What Can be Done About It? 

      Bebchuk, Lucian Arye; Kahan, Marcel (1989)
    • Federal Corporate Law: Lessons From History 

      Bebchuk, Lucian Arye; Hamdani, Assaf (Columbia Law Review Association, Inc., 2006)
      This paper analyzes the history of federal intervention in corporate law and draws from it lessons for the future. We show that federal intervention has generally not alternated between tightening state law restrictions ...
    • Federal Intervention to Enhance Shareholder Choice 

      Bebchuk, Lucian Arye; Ferrell, Frank A. (Virginia Law Review Association, 2001)
      The modern approach to corporate reorganizations begins in a curious place. Everywhere else in corporate law, we focus on those who control the firm and on when others should be able to go to court and reverse their ...
    • Fixing Bankers Pay 

      Bebchuk, Lucian Arye (Berkeley Electronic Press, 2009)
      This essay – written for a special issue of the American Academy of Arts and Sciences’ Daedalus journal on lessons from the financial crisis – discusses how bankers’ pay should be fixed. I describe two distinct sources of ...
    • Golden Parachutes and the Wealth of Shareholders 

      Bebchuk, Lucian Arye; Cohen, Alma; Wang, Changyi Chang-Yi (2014)
      Golden parachutes (GPs) have attracted substantial attention from investors and public officials for more than two decades. We find that GPs are associated with higher expected acquisition premiums and that this association ...
    • The Growth of Executive Pay 

      Bebchuk, Lucian Arye; Grinstein, Yaniv (Oxford University Press (OUP), 2005)
      This paper examines both empirically and theoretically the growth of US executive pay during the period 1993–2003. During this period, pay has grown much beyond the increase that could be explained by changes in firm size, ...
    • Harvard Law School Proxy Access Roundtable 

      Bebchuk, Lucian Arye; Hirst, Scott (John M. Olin Center for Law, Economics, and Business. Harvard Law School., 2010)
      This paper contains the proceedings of the Proxy Access Roundtable that was held by the Harvard Law School Program on Corporate Governance on October 7, 2009. The Roundtable brought together prominent participants in the ...
    • How to fix bankers' pay 

      Bebchuk, Lucian Arye (MIT Press: Arts & Humanities Titles, 2010)
      This essay – written for a special issue of the American Academy of Arts and Sciences’ Daedalus journal on lessons from the financial crisis – discusses how bankers’ pay should be fixed. I describe two distinct sources of ...
    • How to Tie Equity Compensation to Long-Term Results 

      Bebchuk, Lucian Arye; Fried, Jesse M. (Stern Stewart & Co., 2010)
      Companies, investors, and regulators around the world are now seeking to tie executives' payoffs to long-term results and avoid rewarding executives for short-term gains. Focusing on equity-based compensation, the primary ...