Professor of Law
“When it comes to monitoring people who manage other people’s money or other resources, agency theory highlights one simple fact: that nothing – not (i) state-of-the-art markets, financial incentives, and corporate governance mechanisms; nor (ii) comprehensive regulation and effective monitoring by governmental agencies; nor (iii) relentless and ruthless media and public sentiment – can perfectly substitute for simple human integrity.”
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.
- Business Associations
- Corporate Finance
- Corporate Governance Seminar
- Securities Regulation
PUBLICATIONS AND WORKING PAPERS
- Nitzan Shilon, Pay for Destruction: The Stock Buybacks That Make CEOs Rich But Impoverish Their Firms (working paper).
- Nitzan Shilon, Stock Buyback Ability to Enhance CEO Compensation: Theory, Evidence, and Policy Implications (25 (1) LEWIS & CLARK L. REV. _ (forthcoming 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).
- Nitzan Shilon, CEO Stock Ownership Policies – Rhetoric and Reality, 90 (1) IND. L.J. 353 (2015).
- Jesse M. Fried and Nitzan Shilon, Excess-Pay Clawbacks, 36 J. CORP. L. 722 (2011).
- Nitzan Shilon, Conceptualizing Short-Termism (fully drafted).
- Nitzan Shilon, The Lack of Age Diversity in S&P 500 Firms: Causes, Consequences, and Potential Remedies (preliminary draft).
CONFERENCE AND WORKSHOP PRESENTATIONS
- Annual Conference of the American Law and Economics Association (May 2015; August 2020 (via digital distribution)).
- Annual Conference of the European Law and Economics Association (September 2012, September 2014, September 2016, September 2020).
- Annual Conference of the National Business Law Scholars (June 2018, June 2020).
- Tel Aviv University (Law and Economics Workshop, March 2020).
- Freie Universitat Berlin (January 2020).
- Annual Conference of the Canadian Law and Economics Association (September 2012, September 2013, May 2015, September 2016, September 2017, September 2019).
- Annual Conference of the Canadian Economics Association (June 2015, June 2018).
- 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).
- 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).
- 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
- Professor Nitzan Shilon Releases New Research on Stock Buybacks as an Executive Compensation Problem
- Professor Nitzan Shilon Publishes an Op-Ed in Agenda
- Professor Shilon’s Research Featured in Harvard Law School Forum on Corporate Governance and Financial Regulation
- Professor Shilon Interviewed in Financial Times Publication about CEO Stock Ownership Policies
- Professor Nitzan Shilon undertakes prestigious appointment as Commissioner of Israel Securities Authority
- Professor Nitzan Shilon’s research featured in Reuters