Lucian Bebchuk

Professor Lucian Bebchuk, director of the HLS Program on Corporate Governance, recently delivered the John R. Raben Fellowship Lecture at Yale University. The lecture was based on a working paper titled "The Myth of the Shareholder Franchise," in which Bebchuk argues that shareholders rarely, if ever, successfully vote to replace the board of a public company.

On Friday, Novemeber 4, The Program on Corporate Governance at HLS will host a panel discussion to debate personal liability for corporate directors. This question became a central one in the recent WorldCom and Enron cases, in which directors paid settlement fees out of their own pockets. Panelists will consider whether personal liability makes directors accountable, or whether it could deter directors from serving and make serving directors excessively defensive.

Bebchuk “Excessive pay isn’t the only cost of flawed compensation arrangements. Executives’ influence over their boards has produced pay arrangements that dilute and sometimes pervert…

“Talking to terrorists is different from giving in to them. Sometimes it may be good practice to know what they are thinking, or, as a…

Professor Lucian Bebchuk, an expert on corporate governance and co-author of "Pay Without Performance: The Unfulfilled Promise of Executive Compensation," was interviewed recently on CNBC's popular business program, Kudlow and Cramer. After companies like Fannie Mae have restated earnings figures, Bebchuk argued that executives' contracts should include "give-back provisions that require the paying back of money that was raised on figures that had to be restated."

After a decade of soaring to unprecedented levels, executive compensation is the subject of an intense debate. In their just published "Pay without Performance: The Unfulfilled Promise of Executive Compensation," HLS Professor Lucian Bebchuk LL.M. '80 S.J.D. '84 and UC Berkeley School of Law Professor Jesse Fried '92 explore the causes and consequences of flawed compensation arrangements.

On October 15, a new book on executive pay and corporate governance by HLS Professor Lucian Bebchuk and Jesse Fried, Harvard Law School class of 1993, will be the focus of symposium at Columbia Law School.

Glendon Wins Inaugural Bradley Prize
In October, the Lynde and Harry Bradley Foundation awarded Professor Mary Ann Glendon the inaugural Bradley Prize. The $250,000 prize is…

Harvard Law School Professor Lucian Bebchuk has been named a 2004 Guggenheim fellow. The award, which honors "exceptionally impressive achievement in the past and exceptional promise for future accomplishment," will help Bebchuk write a book on the need to empower corporate shareholders.

Harvard Law School Professor Lucian Bebchuk recently testified before the Securities and Exchange Commission as it considers whether to adopt a rule proposal to permit shareholders to place candidates on the company ballot in certain situations.

In the Financial Times, Professor Lucian Bebchuk writes: The Securities and Exchange Commission formally proposed a rule this month that would provide shareholders with some access to the corporate ballot - the proxy card distributed to all voting shareholders. The rule would require some companies in certain circumstances to include the names of candidates nominated by shareholders who satisfy some minimum ownership requirements on the corporate ballot.

Professor William Alford ’77 has been named an honorary fellow of the Institute of Law of the Chinese Academy of Social Science, honorary professor of…