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Independent Directors and Controlling Shareholders
Bebchuk, Lucian A. - 2017
Independent directors are an important feature of modern corporate law. Courts and lawmakers around the world increasingly rely on these directors to protect investors from controlling shareholder opportunism. In this Article, we argue that the existing director-election regime significantly...
Persistent link: https://www.econbiz.de/10012969875
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Golden parachutes and the wealth of shareholders
Bebchuk, Lucian A.; Cohen, Alma; Wang, Charles C. Y. - In: The journal of corporate finance : contracting, … 25 (2014), pp. 140-154
Persistent link: https://www.econbiz.de/10010366124
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Managerial value diversion and shareholder wealth
Bebchuk, Lucian A.; Jolls, Christine M. - 1996
Persistent link: https://www.econbiz.de/10000929331
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Managerial value diversion and shareholder wealth
Bebchuk, Lucian A.; Jolls, Christine - 1999
Persistent link: https://www.econbiz.de/10001363188
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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
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Staggered Boards and the Wealth of Shareholders : Evidence from Two Natural Experiments
Bebchuk, Lucian A. - 2014
While staggered boards have been documented to be negatively correlated with firm valuation, such association might be due to staggered boards either bringing about lower firm value or merely reflecting the tendency of low-value firms to have staggered boards. In this paper, we use two natural...
Persistent link: https://www.econbiz.de/10013069057
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Learning and the Disappearing Association Between Governance and Returns
Bebchuk, Lucian A. - 2014
During the period 1991-1999, stock returns were correlated with the G-Index based on twenty-four governance provisions (Gompers, Ishii, and Metrick (2003)) and the E-Index based on the six provisions that matter most (Bebchuk, Cohen, and Ferrell (2009)). This correlation, however, did not...
Persistent link: https://www.econbiz.de/10013070010
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The State of Corporate Governance Research
Bebchuk, Lucian A. - 2010
This paper, which introduces the special issue on corporate governance co-sponsored by the Review of Financial Studies and the National Bureau of Economic Research (NBER), reviews and comments on the state of corporate governance research. The special issue feature seven papers on corporate...
Persistent link: https://www.econbiz.de/10013150255
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The Agency Problems of Institutional Investors : Presentation Slides
Bebchuk, Lucian A. - 2020
managers of institutional investors have vis-à-vis their own investors. We develop an analytical framework for examining these … agency problems and apply it to study several key types of investment managers.We analyze how the investment managers of … excessively with managers of corporations. We show that these incentives are especially acute for managers of index funds, and …
Persistent link: https://www.econbiz.de/10012835104
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The Illusory Promise of Stakeholder Governance : Presentation Slides
Bebchuk, Lucian A. - 2020
Persistent link: https://www.econbiz.de/10012836304