Bernard S. Sharfman

RealClearFoundation

Law & Economics Center at George Mason University’s Antonin Scalia Law School

affiliation not provided to SSRN

SCHOLARLY PAPERS

52

DOWNLOADS
Rank 3,553

SSRN RANKINGS

Top 3,553

in Total Papers Downloads

15,815

SSRN CITATIONS
Rank 19,657

SSRN RANKINGS

Top 19,657

in Total Papers Citations

22

CROSSREF CITATIONS

30

Scholarly Papers (52)

1.

The Importance of the Business Judgment Rule

14 New York University Journal of Law and Business 27 (Fall 2017)
Number of pages: 43 Posted: 21 Dec 2016 Last Revised: 15 Mar 2018
Bernard S. Sharfman
RealClearFoundation
Downloads 2,601 (7,837)
Citation 3

Abstract:

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Business Judgment Rule, Corporate Law

2.

Shareholder Activism as a Corrective Mechanism in Corporate Governance

Brigham Young University Law Review, Vol. 2014, No. 5, 2014, Ohio State Public Law Working Paper No. 225
Number of pages: 39 Posted: 12 Sep 2013 Last Revised: 29 Aug 2015
Paul Rose and Bernard S. Sharfman
Ohio State University - Moritz College of Law and RealClearFoundation
Downloads 1,858 (13,422)
Citation 4

Abstract:

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corporate governance, shareholder activism, hedge funds, governance entrepreneurs

3.

Shareholder Wealth Maximization and Its Implementation under Corporate Law

Florida Law Review, Vol. 66, No. 1 (2014)
Number of pages: 44 Posted: 10 Jan 2013 Last Revised: 19 Apr 2014
Bernard S. Sharfman
RealClearFoundation
Downloads 925 (37,784)
Citation 2

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shareholder wealth maximization, corporate governance, Unocal test, Board of Directors, authority, accountability, Kenneth Arrow, theory of large organizations, rights plan, Revlon, eBay

4.

Wall Street's Corporate Governance Crisis

Corporate Governance Advisor, Vol. 17, No. 1. pp. 5-8,, Jan./Feb. 2009
Number of pages: 4 Posted: 13 Nov 2008 Last Revised: 02 Mar 2009
Bernard S. Sharfman, Steven J. Toll and Alan Szydlowski
RealClearFoundation, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 737 (51,378)
Citation 1

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corporate law, corporate governance, clawback

5.

Dysfunctional Deference and Board Composition: Lessons from Enron

Northwestern University Law Review Colloquy, Vol. 103, pp. 153-162, 2008
Number of pages: 10 Posted: 16 Jul 2008 Last Revised: 12 Oct 2008
Bernard S. Sharfman and Steven J. Toll
RealClearFoundation and affiliation not provided to SSRN
Downloads 654 (60,070)

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corporate governance, corporate law, dysfunctional deference

6.

A Private Ordering Defense of a Company's Right to Use Dual Class Share Structures in IPOs

Villanova Law Review, Vol. 63, No. 1, 2018
Number of pages: 35 Posted: 15 Jun 2017 Last Revised: 16 Jun 2018
Bernard S. Sharfman
RealClearFoundation
Downloads 631 (62,906)
Citation 5

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corporate governance, corporate law, dual class shares, IPOs, initial public offering, controlling shareolders, shareholder empowerment, principal-cost theory

7.

The Illusion of Success: A Critique of Engine No. 1’s Proxy Fight at ExxonMobil

12 HARV. BUS. L. REV. ONLINE, art. 3, 2021, at 1., George Mason Law & Economics Research Paper No. 21-20
Number of pages: 21 Posted: 10 Aug 2021 Last Revised: 01 Mar 2022
Bernard S. Sharfman
RealClearFoundation
Downloads 621 (65,115)

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hedge fund activism, corrective mechanism, proxy fight, climate change

8.

Activist Hedge Funds in a World of Board Independence: Creators or Destroyers of Long-Term Value?

Columbia Business Law Review, p. 814, 2015
Number of pages: 48 Posted: 11 Mar 2015 Last Revised: 26 Jan 2016
Bernard S. Sharfman
RealClearFoundation
Downloads 600 (67,122)
Citation 5

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hedge funds, activism, corporate governance, corporate law, independence, board of directors

9.

A Theory of Shareholder Activism and Its Place in Corporate Law

Tennessee Law Review, Vol. 82, No. 4, 2015
Number of pages: 42 Posted: 16 Jan 2015 Last Revised: 24 Mar 2017
Bernard S. Sharfman
RealClearFoundation
Downloads 571 (71,407)
Citation 2

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shareholder activism, corporate law, corporate governance, corrective mechanism, empirical studies

10.

Corporate Governance and the Impact of Controlling Shareholders

Corporate Governance Advisor, Vol. 18, No. 1, p. 1, January-Febuary 2010
Number of pages: 10 Posted: 26 Oct 2009 Last Revised: 02 Mar 2010
Lisa M. Mezzetti, Dirk Schlimm and Bernard S. Sharfman
Cohen, Milstein, Hausfeld & Toll, P.L.L.C., Jenoir Management Consultants and RealClearFoundation
Downloads 540 (76,474)

Abstract:

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corporate governance, corporate law

11.

The Enduring Legacy of Smith v. Van Gorkom

Delaware Journal of Corporate Law (DJCL), Vol. 33, No. 2, pp. 287-309, 2008
Number of pages: 23 Posted: 06 Dec 2007 Last Revised: 07 Oct 2008
Bernard S. Sharfman
RealClearFoundation
Downloads 437 (98,616)

Abstract:

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Van Gorkom, business judgment rule, duty of care, directors, accountability, authority, corporate governance, corporate law

12.

What's Wrong with Shareholder Empowerment?

Journal of Corporation Law, Vol. 37, No. 4, pp. 903-909, 2012
Number of pages: 7 Posted: 09 Mar 2012 Last Revised: 20 Jul 2012
Bernard S. Sharfman
RealClearFoundation
Downloads 425 (101,950)

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corporate law, corporate governance, public company, authority, accountability, private ordering, liquidity traders, information traders, shareholder empowerment, board of directors, agency costs

13.

Enhancing the Efficiency of Board Decision Making: Lessons Learned from the Financial Crisis of 2008

Delaware Journal of Corporate Law (DJCL), Vol. 34, No. 3, 2009
Number of pages: 40 Posted: 04 Feb 2009 Last Revised: 17 Nov 2009
Bernard S. Sharfman
RealClearFoundation
Downloads 407 (107,120)

Abstract:

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Delaware, Journal, Corporate, Law, DJCL, financial crisis, 2008, compensation, bonus, bonuses, Wall Street, payouts

14.

Opportunism in the Shareholder Voting and Engagement of the ‘Big Three’ Investment Advisers to Index Funds

Journal of Corporation Law, Volume 48
Number of pages: 48 Posted: 04 Jan 2022 Last Revised: 21 Oct 2022
Bernard S. Sharfman
RealClearFoundation
Downloads 362 (122,342)

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investment advisers, shareholder voting, empty voting, opportunism, Big Three, index funds, mutual funds, ETFs

15.

Why Proxy Access is Harmful to Corporate Governance

Journal of Corporation Law, Vol. 37, No. 2, Winter 2012
Number of pages: 27 Posted: 28 Jun 2011 Last Revised: 05 Mar 2012
Bernard S. Sharfman
RealClearFoundation
Downloads 346 (128,592)
Citation 2

Abstract:

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16.

The Undesirability of Mandatory Time-Based Sunsets in Dual Class Share Structures: A Reply to Bebchuk and Kastiel

Southern California Law Review Postscript Vol. 93 PS1 2019
Number of pages: 10 Posted: 13 May 2019
Bernard S. Sharfman
RealClearFoundation
Downloads 296 (151,636)
Citation 2

Abstract:

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dual class shares, time-based sunsets, listing standards, positive skewness, stock market returns, private ordering, corporate governance

17.

The Conflict between Blackrock's Shareholder Activism and ERISA's Fiduciary Duties

Bernard S. Sharfman, The Conflflict Between BlackRock’s Shareholder Activism and ERISA’s Fiduciary Duties, Case Western Reserve Law Review 1241, Vol. 71, Issue 4 (2021; lead article).
Number of pages: 35 Posted: 05 Dec 2020 Last Revised: 05 Nov 2021
Bernard S. Sharfman
RealClearFoundation
Downloads 284 (158,136)

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ERISA, fiduciary duties, proxy advisors, investment advice fudicary, shareholder voting, corporate governance, investment managers, investment advisers

18.

Using the Law to Reduce Systemic Risk

Journal of Corporation Law, Vol. 36, No. 3, 2011
Number of pages: 28 Posted: 20 Nov 2010 Last Revised: 24 May 2011
Bernard S. Sharfman
RealClearFoundation
Downloads 241 (186,336)

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Financial Institutions, Tax Policy, Systemic Risk, Compensation, Financial Regulation

19.

Kahn v. M&F Worldwide Corporation: A Small but Significant Step Forward in the War Against Frivolous Shareholder Lawsuits

Journal of Corporation Law, Volume 40, Issue 1
Number of pages: 19 Posted: 25 Jul 2014 Last Revised: 08 Feb 2022
Bernard S. Sharfman
RealClearFoundation
Downloads 239 (187,876)

Abstract:

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corporate law, freeze-out, merger, entire fairness

20.

Liberating the Market for Corporate Control

Berkeley Business Law Journal
Number of pages: 50 Posted: 01 Sep 2020 Last Revised: 12 Jul 2021
Bernard S. Sharfman, Marc T. Moore and Marc T. Moore
RealClearFoundation and University College London, Faculty of LawsUniversity College London, Faculty of Laws
Downloads 214 (208,500)

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Corporate Governance, Market for Corporate Control, Corporate Law, Unocal Test, Board of Directors, U.K. Takeover Code, Board Passivity Rule, Tender Offers, Hostile Takeover, Hostile Tender Offer, Corrective Mechanism, Substantive Coercion

21.

The Risks and Rewards of Shareholder Voting

83 SMU Law Review 849 (2020)
Number of pages: 41 Posted: 19 May 2020 Last Revised: 31 Dec 2020
Bernard S. Sharfman
RealClearFoundation
Downloads 207 (215,025)

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shareholder proposals, shareholder voting, securities regulation, corporate governance

22.

The Tension between Hedge Fund Activism and Corporate Law

Journal of Law, Economics and Policy, Symposium Issue, pp. 251-277, Vol. 12, No. 3 (Fall 2016).
Number of pages: 28 Posted: 26 Jan 2016 Last Revised: 16 Jul 2017
Bernard S. Sharfman
RealClearFoundation
Downloads 201 (220,851)

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23.

Enhancing the Value of Shareholder Voting Recommendations

86 Tenn. L. Rev. 691 (2019)
Number of pages: 44 Posted: 29 Jun 2019 Last Revised: 05 Feb 2020
Bernard S. Sharfman
RealClearFoundation
Downloads 199 (222,858)
Citation 2

Abstract:

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shareholder voting, Investment Advisers Act of 1940, fiduciary duties, shareholder voting recommendations, securities law, corporate law, proxy advisors, information trader, board of directors

24.

A Team Production Approach to Corporate Law and Board Composition

Northwestern University Law Review Colloquy, Vol. 103, pp. 380-392, February 16, 2009
Number of pages: 13 Posted: 25 Sep 2008 Last Revised: 13 Mar 2009
Bernard S. Sharfman and Steven J. Toll
RealClearFoundation and affiliation not provided to SSRN
Downloads 186 (236,489)

Abstract:

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corporate law, corporate governance

25.

How Discretionary Decision-Making Impacts the Financial Performance and Legal Disclosures of S&P 500 Funds

Brooklyn Law Review , Vol. 87, No. 3, 2022
Number of pages: 61 Posted: 02 Apr 2021 Last Revised: 17 Aug 2021
Bernard S. Sharfman and Vincent Deluard
RealClearFoundation and StoneX Group Inc
Downloads 185 (237,600)

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prospectus, form n-1a, open-end investment management companies, index, sec, securities, s&p 500, index effect, legal disclosures, index funds

26.

How the Strong Negotiating Position of Wall Street Employees Impacts the Corporate Governance of Financial Firms

Virginia Law & Business Review, Volume 5, No. 3, Winter 2011
Number of pages: 27 Posted: 09 Dec 2009 Last Revised: 15 Feb 2011
Bernard S. Sharfman
RealClearFoundation
Downloads 170 (255,386)

Abstract:

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27.

Being Informed Does Matter: Fine Tuning Gross Negligence Twenty Plus Years after Van Gorkom

The Business Lawyer, Vol. 62, No. 1, p. 135, November 2006
Number of pages: 26 Posted: 14 Sep 2006 Last Revised: 10 Mar 2008
Bernard S. Sharfman
RealClearFoundation
Downloads 148 (286,400)

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Authority, accountability, abstention, gross negligence, exculpation

28.

Presentation: Moving Beyond the Dodd-Frank Act: Reducing Systemic Risk by Cooling Wall Street's Bonus Culture: The Midwestern Law and Economics Association annual meeting, October 9, 2010

The Midwestern Law and Economics Association Annual Meeting, October 9, 2010
Number of pages: 24 Posted: 09 Oct 2010 Last Revised: 07 Aug 2014
Bernard S. Sharfman
RealClearFoundation
Downloads 123 (329,921)
Citation 1

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financial institutions, tax policy, compensation, systemic risk

What Theory and the Empirical Evidence Tell Us About Proxy Access

Journal of Law, Economics and Policy, Volume 13, Winter 2017, No. 1, 1-38.
Number of pages: 42 Posted: 03 Apr 2016 Last Revised: 22 Aug 2017
Bernard S. Sharfman
RealClearFoundation
Downloads 97 (391,005)

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What Theory and the Empirical Evidence Tell Us About Proxy Access

MERCATUS WORKING PAPER
Number of pages: 50 Posted: 07 Jun 2018
Bernard S. Sharfman
RealClearFoundation
Downloads 25 (720,724)
Citation 1

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30.

What Shareholder Proposals on Proxy Access Tell Us about Its Value

Yale Journal on Regulation Online, 2016
Number of pages: 8 Posted: 23 Jun 2016 Last Revised: 15 Nov 2016
Bernard S. Sharfman
RealClearFoundation
Downloads 121 (333,806)

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31.

Now is the Time to Designate Proxy Advisors as Fiduciaries Under ERISA

25 Stanford Journal of Law, Business, and Finance 1
Number of pages: 39 Posted: 07 Sep 2019 Last Revised: 20 Mar 2020
Bernard S. Sharfman
RealClearFoundation
Downloads 117 (341,935)
Citation 1

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ERISA, fiduciary duties, proxy advisors, investment advice fudicary, shareholder voting, corporate governance, investment managers, investment advisers

32.

Understanding Maryland's Business Judgment Rule

Duquesne Business Law Journal, Vol. 8, No. 1, pp. 1-31, 2006
Number of pages: 30 Posted: 04 Aug 2009
Bernard S. Sharfman
RealClearFoundation
Downloads 116 (344,021)

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corporate law, business judgment rule

33.

Taking a More Sophisticated Approach to Market Efficiency: How Securities Analyst Reports can be used to Establish Loss Causation in a Federal Securities Fraud Action

Securities Regulation Law Journal, Vol. 38, No. 1, pp. 57-63
Number of pages: 7 Posted: 09 Oct 2009 Last Revised: 18 Oct 2010
Bernard S. Sharfman
RealClearFoundation
Downloads 107 (363,764)

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securities law, securities regulation, loss causation

34.

Comment Letter to the SEC on Climate Change Disclosures

Number of pages: 8 Posted: 28 Sep 2021 Last Revised: 03 Nov 2021
Bernard S. Sharfman
RealClearFoundation
Downloads 68 (477,040)

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mandatory disclosure, climate change, materiality, public interest, protection of investors

35.
Downloads 67 (480,721)
Citation 1

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36.

ESG Investing Under ERISA

Yale Journal on Regulation Bulletin, Vol. 38, page 112 (2020).
Number of pages: 22 Posted: 22 Mar 2021
Bernard S. Sharfman
RealClearFoundation
Downloads 63 (496,196)

Abstract:

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ERISA, ESG, fiduciary duties, plan managers, DOL

37.

Comment Letter to DOL: ESG Investing Under ERISA

Number of pages: 14 Posted: 10 Sep 2020
Bernard S. Sharfman
RealClearFoundation
Downloads 56 (524,718)
Citation 1

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Fiduciary Duties, ESG Investing, ERISA, Investment Adviser

38.

Modifying Model Rule 5.4 to Allow for Minority Ownership of Law Firms by Nonlawyers

Georgetown Journal of Legal Ethics, Vol. 13, No. 3, 2000
Number of pages: 20 Posted: 30 Oct 2011
Bernard S. Sharfman
RealClearFoundation
Downloads 52 (542,284)

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39.

Comment Letter to the SEC on its Proposed Rule Regarding Climate-Related Risk Disclosures

Number of pages: 30 Posted: 30 Jun 2022
Bernard S. Sharfman and James Copland
RealClearFoundation and Manhattan Institute
Downloads 50 (551,609)

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mandatory disclosure, climate change, materiality, public interest, protection of investors

40.
Downloads 50 (551,609)

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Erisa, Fiduciary Duties, Proxy Advisors, Investment Advice Fiduciary, Shareholder Voting, Corporate Governance, Investment Managers, Investment Advisers

41.

How the Sec Can Help Mitigate the 'Proactive' Agency Costs of Agency Capitalism

American University Business Law Review
Number of pages: 21 Posted: 14 Feb 2019 Last Revised: 25 Jan 2021
Bernard S. Sharfman
RealClearFoundation
Downloads 47 (565,847)

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proxy process, shareholder voting, Investment Advisers Act of 1940, agency costs, agency capitalism, SEC, Proxy Voting Rule, mutual fund advisers, investment advisers

42.

RE: Amendments to Exemptions from the Proxy Rules for Proxy Voting Advice

Number of pages: 13 Posted: 07 Feb 2020
Bernard S. Sharfman
RealClearFoundation
Downloads 44 (581,055)
Citation 2

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proxy advisor

43.

Comment Letter to the SEC: Responding to the Imprecision in a Proxy Advisor's Voting Recommendations

Number of pages: 16 Posted: 22 Oct 2018
Bernard S. Sharfman
RealClearFoundation
Downloads 42 (591,605)
Citation 2

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proxy advisor, board of directors, information trader, fiduciary duties, voting recommendations, precision, imprecision

44.

Comment Letter to the SEC: Release No. IA-5325 and the Fiduciary Duties of Proxy Advisors

Number of pages: 9 Posted: 24 Oct 2019 Last Revised: 24 Dec 2019
Bernard S. Sharfman
RealClearFoundation
Downloads 38 (613,703)

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fiduciary duties, Investment Advisors Act of 1940, proxy advisors, investment advisers, proxy voting

45.

Comment Letter to the SEC: Proposed New Disclosures for Investment Advisers to Mutual Funds

Number of pages: 14 Posted: 22 Oct 2018 Last Revised: 05 Feb 2019
Bernard S. Sharfman
RealClearFoundation
Downloads 37 (619,374)
Citation 2

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proxy voting rule, proxy voting, mutual funds, investment advisers, activism, shareholder empowerment, public pension funds, fiduciary duties

46.

Non-Material Mandatory Climate Change Disclosures

Oho State Business Law Journal Online, Volume 1, page 1, 2021
Number of pages: 11 Posted: 07 Dec 2021 Last Revised: 10 Feb 2022
Bernard S. Sharfman
RealClearFoundation
Downloads 36 (625,203)

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mandatory disclosure, climate change, materiality, public interest, protection of investors[comma separated]

47.

Comment Letter to the DOL: Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights (RIN 1210-AC03)

Number of pages: 5 Posted: 15 Dec 2021
Bernard S. Sharfman and James Copland
RealClearFoundation and Manhattan Institute
Downloads 31 (656,445)

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Fiduciary Duties, ESG Investing, ERISA, Investment Adviser, mutual funds, ETFs, shareholder voting, shareholder engagement

48.

Critiquing the CFA Institute's Report on Proxy Access

R Street Shorts No. 21, March 2016
Number of pages: 3 Posted: 03 Apr 2016
Bernard S. Sharfman
RealClearFoundation
Downloads 31 (656,445)

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49.

Public-Pension Funds Play with Newest Toy in Corporate Governance

R Street Shorts, No. 12 (2015)
Number of pages: 3 Posted: 16 Aug 2015
Bernard S. Sharfman
RealClearFoundation
Downloads 31 (656,445)

Abstract:

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50.

Comment Letter to the DOL: Fiduciary Duties Regarding Proxy Voting and Shareholder Rights (RIN 1210-AB91)

Number of pages: 45 Posted: 17 Nov 2020
Bernard S. Sharfman
RealClearFoundation
Downloads 29 (670,181)

Abstract:

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Fiduciary Duties, ESG Investing, ERISA, Investment Adviser, mutual funds, ETFs, shareholder voting, shareholder engagement

51.

Comment Letter to the SEC: The Value of Board Voting Recommendations

Number of pages: 11 Posted: 02 Jan 2019
Bernard S. Sharfman
RealClearFoundation
Downloads 29 (677,187)

Abstract:

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Investment Advisers Act of 1940, shareholder voting recommendations, corporate law, securities law, proxy advisors, board of directors, investment advisers, information trader, fiduciary duties

52.

Comment Letter on the SEC's Proposed Rule: Modernization of Beneficial Ownership Reporting

Number of pages: 4 Posted: 20 Apr 2022
Bernard S. Sharfman
RealClearFoundation
Downloads 23 (715,222)

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