From his base at Harvard University, Lucian Bebchuk has spent much of his career probing the vexed issue of executive pay. Bebchuk, a professor of law and economics, has looked at it from every angle – ranging from the extent to which decisions to expand firm size are associated with increases in subsequent CEO compensation, to examining managers’ influence over their own pay. In his 2006 book, Pay Without Performance, he exposed myriad ways in which CEOs decoupled pay from performance and argued that board members had little incentive to slow the gravy train. The overarching thesis to his work…

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