Lucian Bebchuk

Lucian Bebchuk serves as the James Barr Ames Professor of Law, Economics, and Finance, and the Founding Director of the Program on Corporate Governance at Harvard Law School. Bebchuk is also a Fellow of the American Academy of Arts and Sciences, Research Associate of the National Bureau of Economic Research, Inaugural Fellow of the European Corporate Governance Network, and Director of the SSRN Corporate Governance Network. Trained in both law and economics, Professor Bebchuk holds an LL.M. and S.J.D. from Harvard Law School and an M.A. and a Ph.D. in Economics from the Harvard Economics Department. His research focuses on corporate governance, law and finance, and law and economics. Upon electing him to membership in 2000, the American Academy of Arts and Sciences cited him as "[o]ne of the nation's leading scholars of law and economics," who "has made major contribution to the study of corporate control, governance, and insolvency."

For Whom Corporate Leaders Bargained: What the Past Can Teach Us About the Questionable Promise of Implementing Stakeholder Capitalism Today

Lucian Bebchuk, Kobi Kastiel, Roberto Tallarita: The debate about stakeholder capitalism should seek to learn from our experience with constituency statutes, which...

The Illusory Promise of “Stakeholderism”: Why Embracing Stakeholder Governance Would Fail Stakeholders

Lucian Bebchuk, Roberto Tallarita:  Stakeholderism—granting corporate leaders discretion to give weight to the interest of all stakeholders—should not be expected to deliver...

Towards the Giant Three: The Rise and Rise of the Big Three Index Funds

The Big Three index fund managers—BlackRock, Vanguard, and State Street Global Advisors—hold a significant proportion of the stock of US public companies, and they...

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The ACCC’s News Media Bargaining Code: Experimenting with “Decentralized Regulation” of Dominant Digital Platforms

The Australian Competition and Consumer Commission recently proposed a mandatory bargaining code to govern negotiations between digital platforms like Google and Facebook...

Market Forces Already Address ESG Issues and the Issues Raised by Stakeholder Capitalism

Eugene Fama: When do market forces push firms toward stakeholder goals, rather than just shareholder goals? When do market forces push firms...

Capitalisn’t Is Back: Can Economists and Journalists Work Together to Improve Capitalism?

Is capitalism the engine of prosperity, or is it the engine of destruction? On this podcast, we talk about the ways capitalism...

Missing in Today’s Shareholder Value Maximization Credo: The Shareholders

Luca Enriques: Today’s corporate world is very different from the one Milton Friedman wrote in. In a world where the question of...

Australia’s News Media and Digital Platforms Bargaining Code is Great Politics But Questionable Economics

If the Australian government wants to subsidize high-quality journalism then it should, well, subsidize high-quality journalism. The new proposed ACCC code would...

Which Problems Should Companies Try to Solve?

Sanjai Bhagat, R. Glenn Hubbard: It is true that capitalism needs to be inclusive in its benefits, but 50 years on, Friedman’s...

Bethany McLean’s Weekend Reading List: Wirecard, Covid-Overwhelmed Hospitals, and Plastic

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.