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

The debate about stakeholder capitalism should seek to learn from our experience with constituency statutes, which authorized corporate leaders to take into...

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

Stakeholderism—granting corporate leaders discretion to give weight to the interest of all stakeholders—should not be expected to deliver its purported benefits to...

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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Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

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The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...

Who Benefits From Competitive State-Level Legislatures?

A new paper finds that when interparty competition in state legislatures is high, well-connected and influential incumbent firms are best able to...

No More “Mystery Meat”: Why We Need Better Corporate Governance Data

Three decades of finance, economics, and legal studies in corporate governance have been built substantially on data sets with nearly unknown provenance....

How Protests Against the Jim Crow Credit Market Changed the Civil Rights Movement

Before the civil rights movement captured the nation’s attention, activists and community groups were protesting against exploitative credit and exclusionary lending practices...

George Stigler and the Challenge of Democracy

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