Research


PUBLISHED AND FORTHCOMING ARTICLES

The Limits of Portfolio Primacy
76 Vanderbilt Law Review (forthcoming 2023)
Co-winner of Best Paper Prize at the 2021-2022 Bocconi-Oxford Junior Scholar Workshop in Corporate Law
Media: Bloomberg

Fiduciary Deadlock
171 University of Pennsylvania Law Review Online (forthcoming 2022)

Stockholder Politics
73 Hastings Law Journal (forthcoming 2022)
Media: New York Times, The Economist, E&E News

The Perils and Questionable Promise of ESG-Based Compensation
48 Journal of Corporation Law (forthcoming 2022)
(with L. Bebchuk)


Does Enlightened Shareholder Value Add Value?
77 The Business Lawyer 1 (2022)
(with L. Bebchuk & K. Kastiel)

Stakeholder Capitalism in the Time of COVID
40 Yale Journal on Regulation (forthcoming 2022)
(with L. Bebchuk & K. Kastiel)
Media: Wall Street Journal

Will Corporations Deliver Value to All Stakeholders?
75 Vanderbilt Law Review 1031 (2022)
(with L. Bebchuk)
Media: National Review, Fortune, WSJ, UK Today News, WSJ (2), Financial Times, St. Louis Post-Dispatch, Financial Times (2)

For Whom Corporate Leaders Bargain
94 Southern California Law Review 1467 (2022)
(with L. Bebchuk and Kobi Kastiel)
Media: Financial Times, Agenda, The Economist

The Tragedy of Costs and Benefits
Boston Review, May 2020

The Illusory Promise of Stakeholder Governance
105 Cornell Law Review 91 (2020)
(with L. Bebchuk)
Selected as one of the Top Ten Corporate and Securities Articles of 2021 by the Corporate Practice Commentator
Media:
Reuters, Bloomberg, Financial Times, The Economist, Fortune, Forbes, LA Times, Wall Street Journal, The Economist (2), Globe and Mail, Law360, Pension & Investments, Financial Times (2)

The Untenable Case for Keeping Investors in the Dark
10 Harvard Business Law Review 1 (2020)
(with L. Bebchuk, R. Jackson, & J. Nelson)
 
The Politics of CEOs
11 Journal of Legal Analysis 1 (2019)
(with A. Cohen, M. Hazan, & D. Weiss)
Media: The New York Times, Axios, Wall Street Journal, CNN, Marginal Revolution, Quartz


WORKING PAPERS

Bargaining Over Voting Rights (in progress)

Hohfeld in the Boardroom, or The Deconstruction of Corporate Purpose (in progress)


OP-EDs, BLOG POSTS, & SHORT ESSAYS

Have Business Roundtable Companies Lived Up to their Stakeholder Commitments?
ProMarket, May 18, 2022
(with L. Bebchuk)


How Enlightened is Enlightened Shareholder Value?
ProMarket, May 10, 2022
(with L. Bebchuk and K. Kastiel)


Does Enlightened Shareholder Value Add Value?
Harvard Law School Forum on Corporate Governance, May 9, 2022
(with L. Bebchuk and K. Kastiel)


The Flaws and Limits of ESG-Based Compensation
ProMarket, Mar. 11, 2022
(with L. Bebchuk)


The Perils and Questionable Promise of ESG-Based Compensation
Harvard Law School Forum on Corporate Governance, Mar. 9, 2022
(with L. Bebchuk)


How the Covid-19 Pandemic Put Corporate Stakeholder Promises to the Test
ProMarket, Feb. 24, 2022
(with L. Bebchuk and K. Kastiel)

Stakeholder Capitalism in the Time of COVID
HLS Forum on Corporate Governance,Feb. 22, 2022
(with L. Bebchuk and K. Kastiel)

How Much Can We Trust Index Funds on Climate Change?
ProMarket, Jan. 5, 2022

The Limits of Portfolio Primacy
HLS Forum on Corporate Governance, Nov. 30, 2021

“Stakeholder” Talk Proves Empty Again
Wall Street Journal, Aug. 19, 2021
(with L. Bebchuk)

The Rise of Shareholder Politics
The Atlantic, June 2021

The Business Roundable and Stakeholders: One Year Later
The Corporate Board, Nov.-Dec. 2020
(with L. Bebchuk)

For Whom Corporate Leaders Bargained
ProMarket, Sept. 15, 2020
(with L. Bebchuk and K. Kastiel)

The Illusory Promise of “Stakeholderism”: Why Embracing Stakeholder Governance Would Fail Stakeholders
ProMarket, Sept. 8, 2020
(with L. Bebchuk)

For Whom Corporate Leaders Bargain
HLS Forum on Corporate Governance, Aug. 25, 2020
(with L. Bebchuk and K. Kastiel)

Was the Business Roundtable Statement on Corporate Purpose Mostly for Show? – (3) Disregard of Legal Constraints
HLS Forum on Corporate Governance, Aug. 19, 2020
(with L. Bebchuk)

Was the Business Roundtable Statement on Corporate Purpose Mostly for Show? – (2) Evidence from Corporate Governance Guidelines
HLS Forum on Corporate Governance, Aug. 18, 2020
(with L. Bebchuk)

Was the Business Roundtable Statement on Corporate Purpose Mostly for Show? – (1) Evidence from Lack of Board Approval
HLS Forum on Corporate Governance, Aug. 12, 2020
(with L. Bebchuk)

Stakeholder Capitalism Seems Mostly for Show
Wall Street Journal, Aug. 6, 2020
(with L. Bebchuk)

The Illusory Promise of Stakeholder Governance
HLS Forum on Corporate Governance, Mar. 2, 2020
(with L. Bebchuk)

The Politics of CEOs
Vox EU, Jul. 24, 2019
(with A. Cohen, with A. Cohen, M. Hazan, & D. Weiss)

The Politics of CEOs
HLS Forum on Corporate Governance, Apr. 2, 2019
(with A. Cohen, with A. Cohen, M. Hazan, & D. Weiss)


BOOK CHAPTERS

Takeover Regulation in Italy
in European Takeovers: The Art of Acquisition (2005)
(with F. Labruna)