Nitzan Shilon

Professor of Law


Email: nshilon@sjd.law.harvard.edu

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COURSES TAUGHT

  • Business Associations

  • Corporate Finance

  • Corporate Governance Seminar

  • Securities Regulation


EDUCATION

  • LL.M. and S.J.D., Harvard Law School

  • B.A. and M.A., Tel-Aviv University School of Economics

  • LL.B., Tel Aviv University Faculty of Law


BIO

Nitzan Shilon’s research centers on corporate and financial law, with a focus on the emerging trends in executive compensation, corporate control and corporate finance. Trained in both law and economics, Professor Shilon received his LL.M. and S.J.D. from Harvard Law School and a B.A. (Economics; summa cum laude) and an M.A. (Financial Economics; magna cum laude) from Tel-Aviv University School of Economics. At Harvard Law School, he won the John M. Olin Student Writing Prize in Law & Economics, the J Terence M. Considine Fellowship in Law and Economics, the Byse Fellowship, and the Fulbright Fellowship. In addition, he taught at Harvard Law School, Harvard Business School and Harvard College. He also served as commissioner in the Israeli Securities Authority and practiced corporate law in leading law firms in New York City and in Israel.

Publications
  • Nitzan Shilon, Setting ESG Boundaries: The Case Against Corporate Political Activism (working paper).

  •  Nitzan Shilon and Yueh-Ping Yang, ESG in the US vs. China: Contrasting Concepts, Applications, and Enforcement Mechanisms (working paper).

  • Nitzan Shilon and Shlomi Shuv, Regulation by Market Emulation: Reforming Shareholder Distribution Rules (working paper).

  • Gili Bartura and Nitzan Shilon, What Should Matter for Investor Protection: Legal Rules vs. Market Standards

(working paper).

  • Nitzan Shilon, The Stock Buybacks that Enrich Corporate Executives and Create Systemic Risk (working paper).

o   Featured in the Columbia Law School Blue Sky Blog on Corporations and the Capital Markets.

  •  Nitzan Shilon, Markets vs. Regulation: Investor Protection in the U.S. Compared to Israel, in: Cambridge Handbook on Investor Protection (Arthur Laby ed., 2021), (Cambridge University Press).

o   Featured in the Columbia Law School Blue Sky Blog on Corporations and the Capital Markets.

  • Nitzan Shilon, Stock Buyback Ability to Enhance CEO Compensation: Theory, Evidence, and Policy Implications, 25 LEWIS & CLARK L. REV. 303 (2021).

  • Nitzan Shilon, AGENDA (a Financial Times’ boardroom resource), The Pay Incentives that Failed Boeing’s CEO, (Feb. 3, 2020).

  • Nitzan Shilon, Replacing Executive Equity Compensation: The Case for Cash for Long-Term Performance, 43(1) DEL. J. COR. L. 1 (2018).

  •  Nitzan Shilon, Putting Directors’ Money Where Their Mouths Are: A New Approach to Improving Corporate Takeover Dynamics, 2017 COLUM. BUS. L. REV. 511 (2017).

o   Featured in the Harvard Law School Forum on Corporate Governance and Financial Regulation.

o   Discussed in: James Saft, Boards Should Put Money Where Their Mouths Are in Hostile Offers, REUTERS (Sep. 14, 2016).

  • Nitzan Shilon, CEO Stock Ownership Policies – Rhetoric and Reality, 90 (1) IND. L.J. 353 (2015).

o   Featured in the Harvard Law School Forum on Corporate Governance and Financial Regulation.

o   Discussed in: Quentin Fottrell, Ten Things CEOs Won’t Tell You, WALL. ST. J. MARKET WATCH (May 12, 2014).

o   Discussed in: Pradnya Joshi, Golden Parachutes Are Still Very Much in Style, N.Y. TIMES (June 29, 2013).

  • Jesse M. Fried and Nitzan Shilon, Excess-Pay Clawbacks, 36 J. CORP. L. 722 (2011).

  • Nitzan Shilon, The Lack of Age Diversity in S&P 500 Firms: Causes, Consequences, and Potential Remedies

(preliminary draft).



Presentations

CONFERENCE AND WORKSHOP PRESENTATIONS

·         Annual Conference of the Canadian Law and Economics Association (September 2012, September 2013, May 2015, September 2016, September 2017, September 2019, October 2022).

·         Annual Conference of the European Law and Economics Association (September 2012, September 2014, September 2016, September 2020, September 2021).

·         Annual Conference of the German Law and Economics Association (July 2021).

·         Annual Conference of the Israeli Private Law Association (June 2021).

·         The Wharton Financial Regulation Conference (April 2021).

·         Annual Conference of the American Law and Economics Association (May 2015; August 2020 (via digital distribution)).

·         Annual Conference of the National Business Law Scholars (June 2018, June 2020, June 2021).

·         Tel Aviv University (Law and Economics Workshop, March 2020).

·         Freie Universitat Berlin (January 2020).

·         Annual Conference of the Canadian Economics Association (June 2015, June 2018, June 2021).

·         Annual Conference on Empirical Legal Studies in Europe (May 2018).

·         Annual Conference of the Society for Institutional & Organizational Economics (June 2012, June 2016).

·         Annual Conference of the Asian Law and Economics Association (June 2014).

·         Harvard Law School (Faculty Workshop, November 2013).

 

INVITED TALKS, INTERVIEWS AND MAJOR MEDIA OUTLETS

·          Unequal Treatment of Stock Options in Shufersal Managers’ Golden Parachute Negotiation, Calcalist (a Hebrew-language business newspaper equivalent to The Economist) (September 15, 2024). 

·      Political Corporate Activism in Israel - Why Now? (with Gili Bartura), Calcalist (a Hebrew-language business newspaper equivalent to The Economist) (August 1, 2024).

·        The Retirement Packages of Shufersal Top Managers Demonstrates a Systemic Problem in Golden Parachute Design, Interview with Ido Baum, The Marker (a Hebrew-language daily business newspaper published by the Haaretz group in Israel) (April 25, 2024).

·         The Role of the Legal System in Opening Up China’s Securities Markets to the Outside World, invited talk, The 14th Lujiazui Forum (a preeminent financial gathering in China, renowned for its wide- reaching influence and as a high-end international platform for financial dialogue), Shanghai (June 9, 2023).

·         Bank Hapoalim Executives Should Not Get a Windfall – They Must Return Their Bonuses, Op-Ed, The Marker (a Hebrew-language daily business newspaper published by the Haaretz group in Israel) (November 22, 2022).

·         Special Litigation Committees, Interview with Liel Kyzer, Reshet Bet (a major radio station in Israel) (February 14, 2022)

·         Bank Executives Should Return the Bonuses They Received for Criminal Activity, Interview with Efrat Neuman, The Marker (February 13, 2022).

·         Executive Compensation and Stock Buybacks, Interview with Jeff Mahoney, The Council of Institutional Investors’ Podcast “The Voice of Corporate Governance” (May 6, 2021).

·         Annual Conference of Israel’s Institutional Investors (September 2016; October 2020).

·         Harvard Law School (Law and Economics Seminar, April 2012; Current Issues in Executive Compensation and Corporate Governance Seminar, May 2010).


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