Nonprofits and the Shaping of Corporate Governance (co-authored with Marianna Pargendler)

"Nonprofits have emerged as powerful forces shaping corporate law and governance, yet they remain largely overlooked in accounts of the field. This lecture offers a theory that nonprofits are the missing piece in understanding some of the most significant corporate governance developments of the past decades. We make three primary contributions. First, we identify the range of nonprofits beyond traditional corporate governance actors, discuss their defining features, and explain why governance-related activism occurs through nonprofit vehicles. Second, we examine their strategic playbook, which includes legislative advocacy, litigation, shareholder proposals, and soft law and shaming campaigns. We analyze how these strategies have shaped key corporate governance shifts, from global supply chain and benefit corporation legislation to the rise and backlash against CSR, ESG, DEI, and climate-related agendas. Third, we explore the broader implications of this phenomenon for reform proposals and the future of corporate governance."