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Life Cycle Earnings, Education Premiums and Internal Rates of Return

Bhuller, Manudeep - 2014

What do the education premiums look like over the life cycle? What is the impact of schooling on lifetime earnings? How does the internal rate of return compare with opportunity cost of funds? To what extent do progressive taxes attenuate the incentives to invest in education? This paper...

Persistent link: https://www.econbiz.de/10013052121

Intergenerational Effects of Incarceration

Bhuller, Manudeep - 2018

. Using longitudinal data for Norway, we find that imprisonment has no effect on fathers' recidivism but reduces their …

Persistent link: https://www.econbiz.de/10012929554

Incarceration Spillovers in Criminal and Family Networks

Bhuller, Manudeep - 2018

Using quasi-random assignment of criminal cases to judges, we estimate large incarceration spillovers in criminal and brother networks. When a defendant is sent to prison, there are 51 and 32 percentage point reductions in the probability his criminal network members and younger brothers will be...

Persistent link: https://www.econbiz.de/10012913387

Incarceration, Recidivism and Employment

Bhuller, Manudeep - 2016

challenging due to data availability and correlated unobservables. This paper overcomes these challenges in the context of Norway …

Persistent link: https://www.econbiz.de/10012982937

Pre-Contractual Reliance

Bebchuk, Lucian A.; Ben-Shahar, Omri - 2021

During contractual negotiations, parties often make (reliance) expenditures that would increase the surplus should a contract be made. This paper analyzes decisions to invest in pre-contractual reliance under alternative legal regimes. Investments in reliance will be socially suboptimal in the...

Persistent link: https://www.econbiz.de/10013220927

CEO Centrality

Bebchuk, Lucian A. - 2008

We investigate the relationship between CEO centrality -- the relative importance of the CEO within the top executive team in terms of ability, contribution, or power -- and the value and behavior of public firms. Our proxy for CEO centrality is the fraction of the top-five compensation captured...

Persistent link: https://www.econbiz.de/10012773127

Managerial Value Diversion and Shareholder Wealth

Bebchuk, Lucian A. - 2008

managers. We question this view within its own analytical framework by studying, in a principal-agent model, the effects of … diversion overlooks a significant cost of such behavior. Many common modes of compensation can provide managers with incentives …

Persistent link: https://www.econbiz.de/10012774878

Lucky CEOS

Bebchuk, Lucian A. - 2007

We study the relation between corporate governance and opportunistic timing of CEO option grants via backdating or otherwise. Our methodology focuses on how grant date prices rank within the price distribution of the grant month. During 1996-2005, about 12% of firms provided one or more lucky...

Persistent link: https://www.econbiz.de/10012778100

Executive Compensation as an Agency Problem

Bebchuk, Lucian A. - 2003

instrument for addressing the agency problem between managers and shareholders but also as part of the agency problem itself … managers. As a result, managers wield substantial influence over their own pay arrangements, and they have an interest in … reducing the saliency of the amount of their pay and the extent to which that pay is de-coupled from managers' performance. We …

Persistent link: https://www.econbiz.de/10012786483

Lucky Directors

Bebchuk, Lucian A. - 2010

While prior empirical work and much public attention have focused on the opportunistic timing of executives' grants, we provide in this paper evidence that outside directors' option grants have also been favorably timed to an extent that cannot be fully explained by sheer luck. Examining events...

Persistent link: https://www.econbiz.de/10012760477