Associate Professor Yaron Nili's article, "The Giant Shadow of Corporate Gadflies," has been named one of the top 10 corporate practice commentator's articles of 2021. The paper is co-authored with Kobi Kastiel, Tel Aviv University­–Buchmann Faculty of Law; Harvard Law School, Program on Corporate Governance. This is Professor Nili's second article named as one of the top 10 articles in corporate and securities law, having had "Shadow Governance," which he co-authored with Cathy Hwang of the University of Virginia School of Law, named a top 10 article of 2020.

To compile the list of top 10 articles, professors in corporate and securities law were asked to select the best corporate and securities articles from a list of papers published in legal journals during 2021. More than 400 articles were on this year's list.

"The Giant Shadow of Corporate Gadflies" brings to the spotlight one of the most unique corporate governance actors: "corporate gadflies." As Professors Nili and Kastiel document in their article, much of the corporate governance agenda setting in the U.S. has been, and still is, dominated by a handful of individuals with limited resources who own tiny slivers of most large companies, rather than by the "Titans of Wall Street." Professors Nili and Kastiel highlight the important role gadflies play as "governance facilitators," refuting some common misconceptions and narratives regarding gadflies' objectives and impact while also exploring the fragility of the existing corporate governance ecosystem, which relies heavily on a minority of individuals to initiate market-wide governance changes through the submission of shareholder proposals. 

"It's an honor to have my scholarship ranked among the top 10 articles by the Corporate Practice Commentator for a second year," said Nili. "It was such a joy working on this multi-year effort with my friend and co-author Kobi Kastiel, shedding light on a unique and important corporate governance phenomenon, and we are grateful for the attention the article has garnered."  

Submitted by Law School News on May 19, 2022

This article appears in the categories: Faculty

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