Page: Amy Frieder

Amy Frieder is a John M. Olin Fellow in Empirical Law and Finance and is also a second-year JD student at Harvard Law School. She is currently researching the relationship between campaign finance programs and diversity among elected officials. Amy has participated as a student attorney in the law school’s Voting Rights Litigation and Advocacy Clinic, has worked…Read more »

Page: Johnny Tang

Johnny Tang is a John M. Olin Fellow in Empirical Law and Finance. He is a third-year economics PhD student at Harvard University. His research focuses on finance and behavioral economics, including how capital and fiduciary regulations affect financial institutions and how investor psychology affects financial markets. His research has been cited in outlets includingRead more »

Page: Jessica Ljustina

Jessica Ljustina is a John M. Olin Fellow in Empirical Law and Finance. She is also a third-year JD student at Harvard Law School. Her planned fellowship project is to review and extend the empirical research on hedge fund activism and long-term firm performance. More generally, her academic interests include corporate governance, M&A, and bankruptcy. Prior to…Read more »

Page: Botir Kobilov

Botir Kobilov is a John M. Olin Fellow in Empirical Law and Finance. He is a second-year PhD student at Harvard Business School. His current work focuses on issues of corporate governance; behavioral biases, beliefs and expectations that influence financial decisions of capital markets participants; and how information and its disclosure plays an important role inRead more »

Page: Maria Lucia Passador

Maria Lucia Passador is a John M. Olin Fellow in Empirical Law and Finance and an LL.M. Candidate at Harvard Law School. She holds a Combined Bachelor and Master of Science in Law (J.D. equivalent) with highest honors and a Ph.D. in Business Law both from Bocconi University, where she also works as an AcademicRead more »

Page: Dev Patel

Dev Patel is a John M. Olin Fellow in Empirical Law and Finance and a third-year PhD student in the Harvard Economics Department. Under this fellowship, he is examining how expanding the poor’s access to formal financial institutions impacts structural transformation during India’s rural banking boom. His other research studies questions in gender and education,…Read more »

Page: Fellows Spring 2021 Workshop

February 3, 2021 Alex Albright, The Fingerprints of Algorithms in Policy Jessica Ljustina, Hedge Fund Activism and Long-Term Firm Performance: A Review of Empirical Research February 10, 2021 Amy FriederDialing for Dollars and Diversity: Campaign Finance Systems and Their Effect on Electing More Women, Young People, and People of Color to Public Office Dev Patel,  Financial InclusionRead more »

Page: Gayane Matevosyan

Gayane Matevosyan is a John M. Olin Fellow in Empirical Law and Finance. She is also a first-year student at Harvard Law School. Her research focuses on the effect of regulation on credit rating agencies following the 2008 financial crisis. At HLS, Gayane is involved in the Harvard International Law Journal, Mock Trial Association, Women’s Law…Read more »

Page: Ria Sen

Ria Sen is a John M. Olin Fellow in Empirical Law and Finance. She is also a JD candidate at Harvard Law School. Her current work focuses on understanding and measuring the impact of governance issues on U.S. public pension fund performance. Prior to HLS, Ria worked as a consultant in McKinsey’s Strategy & Corporate…Read more »

Page: John M. Olin Fellowships in Empirical Law and Finance

Purpose. To foster student research and study in the area of empirical law and finance Eligibility. Any JD, LLM or SJD student at Harvard Law School, any PhD student at GSAS, and any DBA student at Harvard Business School, who has a strong interest in empirical law and finance Fellowship Period. One academic year. (Successive fellowship years…Read more »

Page: The Project on Stakeholder Capitalism

The Project on Stakeholder Capitalism, operated by the Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Law and Finance, seeks to foster research, discourse, and education on corporate purpose, stakeholder governance, and corporate social responsibility. Research studies on the subject by faculty and fellows associated with the Programs include:…Read more »

Page: Aisha Saad

Aisha Saad is a Fellow of the Program on Corporate Governance. She holds a JD from Yale Law School and a DPhil from Oxford University where she studied as a Rhodes Scholar. Aisha was an extern for Judge William Fletcher on the U.S. Court of Appeals for the Ninth Circuit and for Judge Edward Chen…Read more »

Page: Links to Studies that Use the Entrenchment Index

Links to 1002 Studies that Use the Entrenchment Index (Bebchuk, Cohen, and Ferrell, 2009) Abernathy, John L., Brooke Beyer, Adi Masli, and Chad StefaniakThe Association between Characteristics of Audit Committee Accounting Experts, Audit Committee Chairs, and Financial Reporting Timeliness, 30(2) Advances in Accounting pp. 283-297 (2014) Adjei, F., The Effects of Cash Holdings on Corporate Performance…Read more »

Page: Links to Studies that Cite “What Matters in Corporate Governance?”

A study issued by the Harvard Law School Program on Corporate Governance, Bebchuk, Cohen, and Ferrell (2009), has had substantial influence on subsequent research work. The study. What Matters in Corporate Governance,” [Cite], put forward a new corporate governance indexthe Entrenchment Index (E Index). According to Google Scholar citations data, as of the end…Read more »

Page: Valerio Di Mascio

Valerio Di Mascio is a Fellow of the Program on Corporate Governance. He is also a Visiting Researcher at Harvard Law School and a Ph.D. candidate at Bocconi University in Milan. His current research focuses on the regulation and legal qualification of crypto tokens under US and EU securities and corporate law, and on theRead more »

Page: Federica Cadorin

Federica Cadorin is a Fellow of the Program on Corporate Governance. She is also a Visiting Researcher at Harvard Law School and a S.J.D. candidate at University of Milan. Her current research focuses on the protection of minority shareholders upon a change in the control of the company, with particular reference to “asymmetric” M&A transactions. PriorRead more »

Page: 2019 Corporate Governance Roundtable

November 5-6, 2019Wasserstein Hall, Harvard Law School1585 Massachusetts Avenue,  Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, and Roberto Tallarita Supported by The Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of Abernathy MacGregor, Alexion, American Express, Bank of America, Boston Consulting Group, Broadridge, Brunswick Group, CFA Institute, Chevron, the Coca-Cola Company, Deloitte, Edelman,…Read more »

Page: Utkarsh Saxena

Utkarsh Saxena is a John M. Olin Fellow in Empirical Law and Finance. He completed his Master of Laws (LL.M.) as an Inlaks scholar from Harvard Law School in 2014 and is currently pursuing a Master in Public Administration in International Development (MPA/ID) from the Harvard Kennedy School. Before graduate school, Utkarsh clerked on theRead more »

Page: Jihyun Kim

Jihyun Kim is a Fellow of the Program on Corporate Governance.

Page: Masaki Iwasaki

Masaki Iwasaki is a Fellow of the Program on Corporate Governance. He is also a Terence M. Considine Fellow in Law and Economics and a Graduate Student Affiliate at the Weatherhead Center for International Affairs and an S.J.D. candidate at Harvard Law School. Prior to coming to Harvard, he practiced as an attorney at theRead more »

Page: Niccolo Calvi

Niccolò Calvi is a Fellow of the Program on Corporate Governance. He is also a Visiting Researcher at Harvard Law School and a Ph.D. candidate at Bocconi University. His current research focuses on corporate governance and issuances of new shares. Prior to joining Harvard Law School, Niccolò practiced two years in Cleary Gottlieb Steen &…Read more »

Page: Rishab Guha

Rishab Guha is a John M. Olin Fellow in Empirical Law and Finance.  He is also a fourth-year PhD candidate in Business Economics. His research focuses on empirical financial economics, with overlaps to empirical industrial organization and applied econometrics / machine learning.

Page: Alexandre Edde Diniz de Oliveira

Alexandre Edde Diniz de Oliveira is a John M. Olin Fellow in Empirical Law and Finance. He is also a second year student at Harvard Law School. He received a LLB from the University of São Paulo in 2018. He was a researcher for the São Paulo Research Agency (FAPESP), and thereafter practiced as a…Read more »

Page: Kobi Kastiel

Kobi Kastiel is a Fellow of the Program on Corporate Governance, Research Director of the Project on Controlling Shareholders at the Program on Corporate Governance, and a Co-Editor of the Harvard Law School Forum on Corporate Governance and Financial Regulation.

Page: Viroopa Volla

Viroopa Volla is a John M. Olin Fellow in Empirical Law and Finance. She is also a third-year JD/MBA student at HBS and HLS. She received an AB in Economics from Harvard in 2014. After graduation, she worked as a consultant in McKinsey & Company and as a Senior Manager at Walmart. She is interested inRead more »

Page: Talia Gillis

Talia Gillis is a John M. Olin Fellow in Empirical Law and Finance. She is also a Ph.D. candidate in the Business Economics, a joint program of the Department of Economics at Harvard University and Harvard Business School, and a doctoral candidate in the S.J.D. program at Harvard Law School. Her research interests are household…Read more »

Page: Sam Lite

Sam Lite is a John M. Olin Fellow in Empirical Law and Finance. He is also a fourth-year Ph.D student in the Business Economics program at HBS. He received an AB in Economics from Princeton University in 2014. After, he worked as an investment banking analyst at Goldman Sachs and in business development at Palantir Technologies.

Page: Matthew Kim

Matthew Kim is a John M. Olin Fellow in Empirical Law and Finance. He is also an Affiliate at the Institute for Quantitative Social Science. His papers are forthcoming in the Journal of Human Rights and the Journal of East Asian Studies. Before joining Harvard Law School, Matthew was a Research Fellow at the Weatherhead Center…Read more »

Page: Liran Eliner

Liran Eliner is a John M. Olin Fellow in Empirical Law and Finance. He is also a fourth-year PhD student at Harvard Business School. His current work focuses primarily on the behavioral biases that affect the financial decisions of individuals, and on the ways in which these biases can be mitigated. Prior to coming to…Read more »

Page: Leeor Ofer

Leeor Ofer is a co-editor of the Forum on Corporate Governance and Financial Regulation of the Program on Corporate Governance. She is also an S.J.D. candidate and a Graduate Program Fellow at Harvard Law School. Her current research focuses on corporate governance, controlling shareholders, and control-enhancing mechanisms. Prior to joining Harvard Law School, Leeor worked…Read more »

Page: Wanling Su

Wanling Su is a Fellow at Harvard Law School and Co-Editor of the Harvard Law School Forum on Corporate Governance. Her first article appeared in the Virginia Law Review and has been reviewed by Jotwell. Her research has also been featured in the Wall Street Journal, Bloomberg, TaxProf, Columbia Law School Blue Sky, and NYU…Read more »

Page: Jihwon Park

Jihwon Park is a John M. Olin Fellow in Empirical Law and Finance. She is also a doctoral candidate at Harvard Business School, majoring in Accounting and Management. Her main research interests are corporate misconduct and corporate governance. Prior to HBS, Park received B.A. in Economics and M.S. in Business Administration from Seoul National University,…Read more »

Page: Evan Tarte

Evan Tarte is a John M. Olin Fellow in Empirical Law and Finance. He is also currently a third-year J.D. student at Harvard Law School. The last two summers, Evan worked as a summer associate at Arena Investors helping to underwrite opportunistic credit investments. Prior to law school, Evan worked as a real estate privateRead more »

Page: William Powley

Dr. William Powley is a Fellow of the Program on Corporate Governance. His current research focuses in the area of law and economics. Select papers include Are Star Law Firms Also Better Lawyers? (with Allen Ferrell, Katya Neretina, Alberto Manconi, and Luc Renneboog) and Other Litigation: A New Measure of Ex Ante Securities Litigation Risk. Dr. Powley’s research has been…Read more »

Page: Yun Soo Shin

Yun Soo Shin is a Fellow of the Program on Corporate Governance. She is also an S.J.D. candidate at Harvard Law School. Her research fields include corporate governance, corporate finance, political economy, and international commercial arbitration. She is also a teaching fellow and an MBA candidate at the Wharton School, University of Pennsylvania. Yun Soo…Read more »

Page: Leo E. Strine, Jr.

Leo E. Strine, Jr. is a Senior Fellow of the Program on Corporate Governance. He is also the Chief Justice of the Delaware Supreme Court and served on the Delaware Court of Chancery as Chancellor (2011-2014) and Vice Chancellor (1998-2011). Chief Justice Strine has authored numerous landmark opinions in the field of corporate law, includingRead more »

Page: 2019 Shareholder Engagement Roundtable

June 12-13, 2019 Wasserstein Hall, Harvard Law School1585 Massachusetts Avenue,  Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, and Roberto Tallarita Supported by The Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of Abernathy MacGregor, American Express, Assurant, Avangrid, Bank of America, Boston Consulting Group, Broadridge, Brunswick Group, CFA Institute, Chevron, the Coca-Cola Company, CreditRead more »

Page: Studies Using the Entrenchment Index of Bebchuk, Cohen & Ferrell (2009)

A study issued by the Harvard Law School Program on Corporate Governance, Bebchuk, Cohen, and Ferrell (2009), put forward a corporate governance indexthe Entrenchment Index (E Index). This study has had substantial influence on subsequent research work. According to Google Scholar citations data, as of the end of 2020, the study was cited by…Read more »

Page: 2019 Corporate Governance Roundtable

March 20-21, 2019 Wasserstein Hall, Harvard Law School1585 Massachusetts Avenue,  Cambridge, MA 02138 Supported by The Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of Abernathy MacGregor, Bank of America, BP, Broadridge, Brunswick Group, the CAF Group, Capital One, CFA Institute, Chevron, the Coca-Cola Company, Coherent Economics, Deloitte, Edison International, Eli Lilly, Emerson, Evercore, GileadRead more »

Page: Roberto Tallarita

Roberto Tallarita is an Associate Director and Research Fellow of the Program on Corporate Governance. He is also an S.J.D. candidate and a Terrence M. Considine Fellow in Law and Economics at Harvard Law School. His most recent and current projects focus on the social and political dimensions of the corporation, shareholder voting structures, and normativeRead more »

Page: Scott Hirst

Scott Hirst is the Director of Institutional Investor Research for the Program on Corporate Governance. In addition, he serves as an Associate Professor of Law at Boston University, teaching Corporations, Corporate Governance, and Mergers & Acquisitions. His research seeks to explain phenomena in corporate law, securities regulation, and related areas, and to inform policy makingRead more »

Page: Project on M&A and Corporate Control

The M&A and Corporate Control Project, operated by the Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Law and Finance, seeks to foster research, discourse, and education with respect to M&A and battles over Corporate Control. The Research Director of the Project is Professor Lucian Bebchuk. Research studies on M&A…Read more »

Page: Project on Institutional Investors

The Institutional Investors Project, operated by the Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Law and Finance, seeks to foster research, discourse, and education with respect to Institutional Investors. Research studies on the subject by faculty and fellows associated with the Programs include: The Causal Mechanisms of HorizontalRead more »

Page: Project on Short-Termism

The Short-Termism Project, operated by the Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Law and Finance, seeks to foster research, discourse, and education with respect to short-termism. Research studies on the subject by faculty and fellows associated with the Programs includes: Stock Market Short-Termism’s Impact Mark Roe Harvard…Read more »

Page: Project on Corporate Political Spending

The Project on Corporate Political Spending, operated by the Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Law and Finance, seeks to foster research, discourse, and education with respect to political spending by public companies and their officeholders. Research studies on the subject by faculty and fellows associated withRead more »

Page: 2018 Corporate Governance Roundtable

October 9-10, 2018 Wasserstein Hall, Harvard Law School, 1585 Massachusetts Avenue Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, Scott Hirst, and Roberto Tallarita Supported by The Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of Abernathy MacGregor, the AES Corporation, Agility Executive Search, American Express, Assurant, Bank of America, Broadridge, Brunswick Group,…Read more »

Page: Tamar Groswald Ozery

Tamar (Tami) Groswald Ozery is a Fellow at the Harvard Law School Program on Corporate Governance and a co-editor of the Harvard Law School Forum on Corporate Governance and Financial Regulation. Tami is also a visiting lecturer at the Hebrew University of Jerusalem Israel, where she teaches the course Chinese Law and Legal Institutions and…Read more »

Page: 2018 Shareholder Engagement Roundtable

June 5-6, 2018 Wasserstein Hall, Harvard Law School1585 Massachusetts Avenue,  Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, Matt Filosa, and Scott Hirst Supported by The Harvard Roundtable on Shareholder Engagement is grateful for the co-sponsorship of Abernathy MacGregor, the AES Corporation, American Express, Bank of America, Broadridge, Brunswick Group, Cartica Management, CFA Institute, Chevron, Citi, theRead more »

Page: Itai Fiegenbaum

Itai Fiegenbaum is a Fellow at the Harvard Law School Program on Corporate Governance and Financial Regulation and a co-editor of the Harvard Law School Forum on Corporate Governance and Financial Regulation. Itai holds an LL.B from Tel Aviv University and an LL.M from Columbia University in New York. Itai is currently a Ph.D candidateRead more »

Page: 2018 Corporate Governance Roundtable

March 14 -15, 2018 Wasserstein Hall, Harvard Law School, 1585 Massachusetts Avenue Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, Matt Filosa, and Scott Hirst Supported by The Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of Abernathy MacGregor, the AES Corporation, American Express, Bank of America, Broadridge, Brunswick Group, Cartica Management, CFA…Read more »

Page: 2017 Corporate Governance Roundtable

October 24-25, 2017 Wasserstein Hall, Harvard Law School, 1585 Massachusetts Avenue Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, and Scott Hirst Supported by The Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of Abernathy MacGregor, Assurant, Bank of America, Broadridge, Brunswick Group, CamberView Partners, Cartica Management, Center for Audit Quality, CFA Institute,…Read more »

Page: 2017 Shareholder Engagement Roundtable

June 14 – 15, 2017 Wasserstein Hall, Harvard Law School, 1585 Massachusetts Avenue Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, and Scott Hirst Supported by The Harvard Roundtable on Shareholder Engagement is grateful for the co-sponsorship of Abernathy MacGregor, The AES Corporation, Assurant, Bank of America, Broadridge, Brunswick, CamberView, Cartica Management, CFA Institute, the Coca-ColaRead more »

Page: Project on Hedge Fund Activism

The Hedge Fund Activism Project, operated by the Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Law and Finance, seeks to foster research, discourse, and education with respect to hedge funds activism. Research studies on hedge funds activism by faculty and fellows associated with the Programs includes: Universal ProxiesRead more »

Page: Project on Controlling Shareholders

The Project on Controlling Shareholders, operated by the Harvard Law School Program on Corporate Governance and the Harvard Law School Program on Law and Finance, seeks to foster research, discourse, and education with respect to controlling shareholders and companies controlled by such shareholders. Research studies on the subject by faculty and fellows associated with theRead more »

Page: Corporate Governance Lab

The Corporate Governance Lab will seek to foster research using quantitative tools – including econometric, statistical, or modeling tools – in the field of corporate governance. A key focus of the Lab in coming years will be the use of data science tools to produce novel datasets that would facilitate corporate governance research. The lab…Read more »

Page: 2017 Corporate Governance Roundtable

March 14-15, 2017 Wasserstein Hall, Harvard Law School, 1585 Massachusetts Avenue Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, and Scott Hirst Supported by In addition to Deloitte, the Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of Abernathy MacGregor, American Express, Bank of America, Broadridge, Brunswick Group, CamberView, Capital One, Cartica, Center…Read more »

Page: 2016 Roundtable on Corporate Governance

March 15–16, 2016 Wasserstein Hall, Harvard Law School, 1585 Massachusetts Avenue Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, and Scott Hirst Supported by In addition to Deloitte, the Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of the Society of Corporate Secretaries and Governance Professionals, Aon Hewitt, Broadridge, Camberview, CFA Institute, Coca-Cola,…Read more »

Page: 2016 Roundtable on Shareholder Engagement

June 8–9, 2016 Supported by In addition to Deloitte, the Harvard Roundtable on Shareholder Engagement is grateful for the co-sponsorship of the Society of Corporate Secretaries and Governance Professionals, the Abernathy MacGregor Group, Analysis Group, Aon Hewitt, Blue Harbour Group, Broadridge, Brunswick Group, CamberView, Cartica Management LLC, Center for Audit Quality, CFA Institute, Citi, Citrix Systems,…Read more »

Page: 2016 Corporate Governance Roundtable

November 1–2, 2016 Wasserstein Hall, Harvard Law School, 1585 Massachusetts Avenue Cambridge, MA 02138 Co-Organizers: Lucian Bebchuk, Stephen Davis, and Scott Hirst The Harvard Roundtable on Corporate Governance is grateful for the co-sponsorship of The Society for Corporate Governance, Abernathy MacGregor, The AES Corporation, Aetna, Aimco, American Express, Analysis Group, Aon Hewitt, Applied Materials, Assurant,…Read more »

Page: Forum Citations

The Forum is the top online resource for discourse on corporate governance, and its posts have been widely cited in over 800 law review articles and regulatory materials. Articles and materials including citations to the Forum include the following: 1 Christopher McNamara, How the Decisions in Favor of the Stein Thirteen Will Affect the LitigationRead more »

Page: Advisory Board

The Program seeks to foster interaction between HLS faculty and students and the world of practice and policy. To facilitate the connection between HLS and the world of practice and policy, the Program established an advisory board of distinguished practitioners. The following currently serve as members of the advisory board: William Ackman Pershing Square Capital Management…Read more »

Page: Corporate Governance Roundtable

The Harvard Law School Corporate Governance Roundtable, operated by the Harvard Law School Program on Corporate Governance, aims to contribute to discourse, policy making and education with respect to current issues in corporate governance. The Roundtable is supported by a broad group of members, including corporations and their advisors. An advisory council consisting of leadingRead more »

Page: Stephen M. Davis

Stephen Davis, Ph.D. is associate director of the Harvard Law School Programs on Corporate Governance and Institutional Investors, and a senior fellow at the Program on Corporate Governance. He has been a nonresident senior fellow in governance at the Brookings Institution, where he co-directed the World Forum on Governance, and a senior advisor on governanceRead more »

Page: 2002

Op-Ed by Lucian Bebchuk: Settling for Less, New York Times, December 27, 2002 Op-Ed by Lucian Bebchuk and Oliver Hart: A Threat to Dual-Class Shares, Financial Times, May 31, 2002

Page: 2003

Op-Ed by Lucian Bebchuk: Why Shareholders Must Have More Power, Financial Times, October 21, 2003 Op-Ed by Howell Jackson: It’s Even Worse Than You Think, New York Times, October 9, 2003 Op-Ed by Lucian Bebchuk and Alma Cohen: Not-So-Fierce Rivalry, The Daily Deal, January 31, 2003

Page: 2004

Nice Work if You Can Get It, Wall Street Journal, December 23, 2004. In “Pay Without Performance” (Harvard University Press, 278 pages, $24.95), Lucian Bebchuk and Jesse Fried, two notable legal scholars, argue that CEOs are too often given incentives to pump up short-term earnings at the expense of long-term financial soundness and that CEOs…Read more »

Page: 2005

How large companies can make shareholders happy, The Age.com, December 22, 2005. Indeed, the chief proponent of shareholder empowerment, Harvard law professor Lucian Bebchuk, has conceded as much. In an article published in the Harvard Law Review earlier this year, Bebchuk commented that: “I do not view increasing shareholder power as an end in and…Read more »

Page: 2006

Compensation Experts Offer Ways to Help Curb Executive Salaries, New York Times, December 30, 2006. Executive compensation issues are tricky; the devil is often deep in the footnotes of proxy statements, employment agreements and stock option plans. It will take a concerted effort by both investors and boards to effect real change. Otherwise, lawmakers have…Read more »

Page: 2007

Extreme CEO Payoffs: When Shareholders Lose, CNNMoney.com, December 10, 2007 Still, compensation consultants have “strong incentives to use their discretion to benefit the CEO,” according to a 2003 study by Lucian Bebchuk of Harvard University and Jesse Fried of the University of California at Berkeley. “Providing advice that hurts the CEO’s pocketbook is hardly a…Read more »

Page: 2008

Wall Street Bonuses Under Fire, National Public Radio, On Point, December 22, 2008 Were the incentives wrong? This hour, On Point: Huge pay, huge bonuses, and where they brought us. Tom Ashbrook discusses the subject with three guests: Louise Story, business reporter for The New York Times. Her big story last week was headlined “On…Read more »

Page: 2009

High CEO Pay May Correlate With Lower Long-Term Stock Value, According To Two Studies,Huffington Post, December 31, 2009 But two recent studies suggest that lavish CEO compensation may in fact undermine shareholder wealth. […] A separate study led by Harvard Law’s Lucian Bebchuk investigated the relationship between future company performance and “CEO pay slice” (CPS)…Read more »

Page: 2010

Bankers Arouse Public Anger. But Will They Change?, Christian Science Monitor, December 30, 2010 How did these bankers fare? The top five executives at Bear Stearns and Lehman made roughly $250 million apiece in sales of stock and bonuses in the 2000 to 2008 period, notes Harvard economist Lucian Bebchuk. There was no “claw back”…Read more »

Page: 2011

Op-Ed by Mark Roe: Reforming Repo Rules, Project Syndicate, December 2011 A Former Treasury Adviser On How To Really Fix Wall Street, New Republic, Decemeber 17, 2011 An opinion piece by HLS Visiting Assistant Professor Morgan Ricks: Any serious program for Wall Street reform should start with two words: “term out.” “Terming out” is a…Read more »

Page: 2012

Op-Ed by Mark Roe: Corporate Short-Termism in the Fiscal Cliff’s Shadow, Project Syndicate, December 2012 Op-Ed by Lucian Bebchuk: Voluntary Disclosure on Corporate Political Spending Is Not Enough,New York Times DealBook, December 17, 2012 The price of sadness. And other surprising insights from the social sciences, Boston Globe, Novemeber 25, 2012 Political corporations hurt shareholders:…Read more »

Page: 2013

Why shield corporations from disclosing political spending?, Reuters, December 16, 2013 Corporate disclosure of political spending has been kicking around in shareholder proposals for about a decade, but the SEC was pushed into the debate in 2011, when a group of 10 law professors with varying views on the impact of such spending joined togetherRead more »

Page: 2014

Is The Harvard Shareholder Rights Program Breaking The Law?, ValueWalk, December 18, 2014 The Harvard Shareholder Rights Program (HSRP) has spent the last few years pushing back against board staggering, where directors are given multi-year terms so that they don’t all go up for re-election at the same time (the Senate, for example, follows a…Read more »

Page: Fellows

Fellows Spring 2021 Workshop The schedule of the spring 2021 sessions of empirical presentations by fellows is available here. Current Fellows Amy Frieder Research: The relationship between campaign finance programs and diversity among elected officials. Tami Groswald Ozery Research: Corporate and Securities Law, Comparative Corporate Governance, Law and Development Theories (with Particular Interest in their ApplicationRead more »

Page: Working Papers

To get email announcements about new working papers, please join our Mailing List. 2021 Deals in the Time of Pandemic Guhan Subramanian and Caley Petrucci Discussion Paper No. 2021-6 Exit vs. Voice Eleonora Broccardo, Oliver Hart and Luigi Zingales Discussion Paper No. 2021-5 Will Nasdaq’s Diversity Rules Harm Investors? Jesse M. Fried Discussion Paper No. 2021-4…Read more »

Page: Faculty

The following HLS faculty members (including regular visitors) have strong research interests in corporate governance: Lucian A. Bebchuk Robert Charles Clark John C. Coates IV Alma Cohen Allen Ferrell Jesse M. Fried Oliver Hart Howell Jackson Reinier H. Kraakman J. Mark Ramseyer Mark J. Roe Robert Sitkoff Holger Spamann Leo E. Strine, Jr. Guhan Subramanian

Page: Annual Reports

A detailed account of the Program’s activities can be found in its annual reports: 2018/2019 2017/2018 2016/2017  2015/2016 2014/2015 2013/2014 2012/2013 2011/2012 2010/2011 2009/2010 2008/2009 2007/2008 2006/2007 2005/2006

Page: Hotels

Below is the information for the hotels where we have arranged for discounted rates. Please request the Harvard rate when calling to make your reservation. The Charles Hotel and the Sheraton Commander are within walking distance of the law school, but please note that the Hyatt Regency Cambridge and the Hotel Marlow would require a…Read more »

Page: Courses

Courses taught at Harvard Law School on topics related to corporate governance include the following: 2020-2021 Fall Bankruptcy Controlling Shareholders Corporate Finance Corporate Governance: The Short-Termism Problem Corporations Professor Jesse Fried Professor Reinier Kraakman Professor J. Mark Ramseyer Professor Holger Spamann Corporations from a Comparative Perspective Deals Empirical Law and Economics Hedge and Private Equity Funds:…Read more »

Page: Prizes

Victor Brudney Prize Established by the Program on Corporate Governance in honor of Professor Victor Brudney, Robert B. and Candice J. Haas Professor in Corporate Finance Law, Emeritus. This prize may be awarded annually to the best student paper on a topic related to corporate governance. 2020-2021 Ria Sen, J.D. 2021 Trust(ee) Issues: Understanding theRead more »

Page: The Harvard Law School Program on Corporate Governance Fund

Funds in the Corporate Governance Program Fund are used to support the activities of the Harvard Law School Program on Corporate Governance. The Fund is a “spend down endowment” fund that has both the flexibility for principal to be accessed to meet current needs and the benefit of monies being invested in the Harvard endowment…Read more »

Page: Speakers & Events

2020-2021 Sep. 8 Howell Jackson (HLS) and Steven Schwarcz (Duke Law) Protecting Financial Stability: Lessons from the Coronavirus Pandemic Sep. 10 Karen Karniol-Tambou (Bridgewater) and Vivian Lau (One Tusk)  What Private Funds Do Sep. 14 Christian Leuz (Chicago Booth) Adoption of CSR and Sustainability Reporting Standards: Economic Analysis and Review Sep. 16 Meredith Kotler and…Read more »

Page: About the Program

The Program on Corporate Governance seeks to foster research and scholarship about corporate governance and facilitate discourse in this field among academics, practitioners, and policy-makers. The Program’s Advisory Board consists of William Ackman, Peter Atkins, David Bell, Richard Brand, Daniel Burch, Paul Choi, Jesse Cohn, Creighton Condon, Arthur B. Crozier, Michael Delikat, John Finley, Bruce H. Goldfarb, Joseph…Read more »

Event: 2015 Roundtable on Shareholder Engagement

June 16–17, 2015 Co-Organizers: Lucian Bebchuk, Stephen Davis, and Scott Hirst   • Agenda • List of Participants • Background Materials The Harvard Roundtable on Shareholder Engagement is grateful for the co-sponsorship of the Society of Corporate Secretaries and Governance Professionals, American Express, Ameriprise Financial, Best Buy, Broadridge, CF Industries, CFA Institute, Citrix Systems, Coca-Cola,…Read more »

Page: Data

Data available for selected papers issued by faculty associated with the Program on Corporate Governance includes the following: Data on the Entrenchment Index 1990-2006 [based on Bebchuk, Cohen, and Ferrell, “What Matters in Corporate Governance?” The Review of Financial Studies, Vol. 22 (2), February 2009, pp. 783-827.] Links to 1260 studies that use the Entrenchment IndexRead more »

Page: Join Our Mailing List

Join the e-mail list of the Program on Corporate Governance and receive e-mails about new working papers and publications in corporate governance.