Harvard Law School Professor Lucian Bebchuk LL.M. ’80 S.J.D. ’84 published an op-ed in the New York Times’ DealBook on Aug. 15 entitled, “Don’t Discourage Outside Shareholders.” The op-ed is in response to a proposed rule being considered by the Securities and Exchange Commission that narrows the timeframe in which shareholders must disclose when they hold five percent or more of a company’s holdings.
Over the past week, a number of HLS faculty members shared their viewpoints on events in the news. Here are some excerpts.
Professor Lucian Bebchuk has been named as one of the 100 most influential people in finance by Treasury & Risk magazine. The list prepared by the magazine puts together individuals who had significant impact on the world of finance this year.
The Supreme Court’s 2010 Citizens United decision allowed unlimited political expenditures by corporations and unions, which have been used to help fund campaign commercials that have flooded the airwaves during this election season. In recent writings, several Harvard Law faculty members have explored how Citizens United affects a spectrum of stakeholders, including shareholders, corporations, unions and voters.
In the April 19 edition of The New York Times’ DealBook, Harvard Law School Professor Lucian Bebchuk defends the of work of his Shareholder Rights Project (SRP) at HLS in light of a recent memo criticizing the project. The SRP is a clinical program that assists public pension funds and charitable organizations in improving corporate governance at publicly traded companies.
A new HLS clinic, in its first year of operation, has already contributed to significant governance reforms in numerous S&P 500 companies. The Harvard Law School Shareholder Rights Project (SRP) is a clinical program at Harvard Law School through which faculty and students assist public pension funds and charitable organizations to improve corporate governance at publicly traded companies in which they are shareowners.
In an online forum, Harvard Law School Professor Lucian Bebchuk engaged in a debate with Ohio State University Professor Rene Stulz regarding the role executive compensations played in the financial crisis.
On Feb. 15, Harvard Law School Professor Lucian Bebchuk testified before the U.S. Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection at a hearing entitled “Pay for Performance: Incentive Compensation at Large Financial Institutions.”
Harvard Law School’s faculty and fellows earned the top ranking for the total number of citations of their work on the Social Science Research Network (SSRN), according to cumulative statistics released for 2011. HLS faculty members captured five out of the top 10 slots – including the number one slot – among law school faculty in all legal fields.
“Politics and Corporate Money”
Professor Lucian Bebchuk LL.M. ’80 S.J.D. ’84
Sept. 20, 2010
“A recent decision issued by the United States Supreme Court expanded the freedom of corporations to spend money on political campaigns and candidates. … This raises well-known questions about democracy and private power, but another important question is often overlooked: who should decide for a publicly traded corporation whether to spend funds on politics, how much, and to what ends?