Lucian Bebchuk is the William J. Friedman and Alicia Townsend Friedman Professor of Law, Economics, and Finance and Director of the Program on Corporate Governance at Harvard Law School. Bebchuk is a Research Associate of the National Bureau of Economic Research and Inaugural Fellow of the European Corporate Governance Network.
Trained in both law and economics, Bebchuk holds an LL.M. and S.J.D. from Harvard Law School and an M.A. and Ph.D in Economics from the Harvard Economics Department. He joined the Harvard Law School faculty in 1986 as an assistant professor, becoming a full professor in 1988, and the Friedman Professor of Law, Economics and Finance in 1998.
Bebchuk's research focuses on corporate governance, law and finance, and law and economics, and he has published more than seventy research articles in academic journals in law, economics, and finance. Upon electing him to membership in 2000, the American Academy of Arts and Sciences cited him as "One of the nation's leading scholars of law and economics," who "has made major contribution to the study of corporate control, governance, and insolvency." He is the current President of the American Law and Economics Association, and a former chair of the Business Association Section of the American Association of Law Teachers.
Bebchuk’s recent writings include Pay without Performance: the Unfulfilled Promise of Executive Compensation (Harvard University Press, 2004, co-authored with Jesse Fried), "The Case for Increasing Shareholder Power" (Harvard Law Review, 2005), "The Costs of Entrenched Boards" (Journal of Financial Economics, 2005), and "The Myth of the Shareholder Franchise" (Virginia Law Review, 2007).
Bebchuk has been a frequent contributor to policy making and public discourse in the areas of corporate governance and law and finance both in the U.S. and abroad. He has testified before the Senate Finance Committee, the House Committee of Financial Services and the SEC. He has published many op-ed pieces, including in the Wall Street Journal, the New York Times, and the Financial Times. He was included in the list of "100 most influential people in finance" of Treasury & Risk Management and the list of "100 most influential players in corporate governance" of Directorship magazine.
Recent Blog Posts by Lucian Bebchuk
- An Antidote for the Corporate Poison Pill
- Pricing Corporate Governance
- Politics and Corporate Money
- Why Bankers’ Pay Is the Government’s Business
- How to Pay a Banker
- Don’t Gut Proxy Access
- Rating the Raters
- Paid to Fail
- Corporate Political Speech Is Bad for Shareholders
- The CEO Pay Slice
- Who Should be Bailed Out?
- Bankers had Cashed in Before the Music Stopped
- Taming the Stock Option Game
- Reducing Incentives for Risk-Taking
- Unblocking Corporate Governance Reform
- Why Financial Pay Shouldn’t be Left to the Market
- Bonus Guarantees Can Fuel Risky Moves
- Regulate Financial Pay to Reduce Risk-Taking
- Guest Contribution: Back to the Good Times on Wall Street
- Paying for Performance at Goldman
- The Fall of the Toxic-Assets Plan
- Toxic Tests
- Equity Compensation for Long-Term Results
- The SEC’s Proxy Access Proposal
- Near-Sighted Stress Tests
- The PPIP: keep banks out
- How to Avoid Overpaying for Toxic Assets
- A Fix for Geithner’s Plan
- AIG Still Isn’t Too Big to Fail
- Jump-starting the Market for Troubled Assets
- Congress Gets Punitive on Executive Pay
- The Administration’s Executive Pay Guidelines
- How To Give Banks Confidence To Lend To Businesses