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Professor Bernard Black

Nicholas J. Chabraja Professor
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Bernard Black, Nicholas J. Chabraja Professor, Northwestern University Law School and Kellogg School of Management Law School
ECGI Fellow (2005) :

Bernard S. Black is Professor of Finance at Kellogg School of Management, and is Nicholas D. Chabraja Professor at Northwestern University School of Law and Kellogg School of Management (beginning Sept. 1, 2010). He is also managing director of the Social Science Research Network, and founding chairman of the annual Conference on Empirical Legal Studies. Professor Black received a B.A. from Princeton University, an M.A. in physics from University of California at Berkeley and a J.D. from Stanford Law School. He was Professor of Law at Stanford Law School from 1998-2004 and at Columbia Law School from 1988-1998. His principal research areas are law and finance, international corporate governance, health care and medical malpractice, and corporate and securities law. His books include To Sue is Human: A Profile of Medical Malpractice Litigation (forthcoming 2010, with David Hyman, William Sage, Charles Silver, and Kathryn Zeiler), The Law and Finance of Corporate Acquisitions (2nd ed., with Ronald Gilson, 1995 and supplement 2003) and Guide to the Russian Law on Joint Stock Companies (with Reinier Kraakman and Anna Tarassova (1998).

Research Interests
Corporate acquisitions
Corporate and securities law
International corporate governance
Law and finance

ECGI Working Papers (Click title for more details)
Corporate Governance Indices and Construct Validity ECGI Finance Working Paper 483/2016 May 2017
Shock-Based Causal Inference in Corporate Finance and Accounting Research ECGI Finance Working Paper 448/2015 March 2015
Methods for Multi-country Studies of Corporate Governance: Evidence from the BRIKT Countries ECGI Finance Working Paper 414/2014 March 2014
What Matters and for Which Firms for Corporate Governance in Emerging Markets?Evidence from Brazil (and Other BRIK Countries) ECGI Finance Working Paper 306/2011 July 2011
Private Enforcement of Corporate Law: An Empirical Comparison of the UK and US ECGI Finance Working Paper 234/2009 February 2009
Debt, Equity, and Hybrid Decoupling: Governance and Systemic Risk Implications ECGI Finance Working Paper 207/2008 January 2008
An Overview of Brazilian Corporate Governance ECGI Finance Working Paper 206/2008 January 2008
The Effect of Board Structure on Firm Value in an Emerging Market: IV, DiD, and Time Series Evidence from Korea ECGI Finance Working Paper 179/2007 June 2007
Law and Tunneling ECGI Law Working Paper 178/2011 May 2011
The Relation Between Firm-level Corporate Governance and Market Value: A Study of India ECGI Law Working Paper 177/2011 May 2011
Delaware's Balancing Act ECGI Law Working Paper 167/2010 November 2010
Can Corporate Governance Reforms Increase Firms' Market Values: Evidence from India ECGI Finance Working Paper 159/2007 January 2007
Is Delaware Losing Its Cases? ECGI Law Working Paper 151/2010 April 2010
The Anatomy of Financial Tunneling in an Emerging Market ECGI Finance Working Paper 123/2006 May 2006
Private Enforcement of Corporate Law: An Empirical Comparison of the UK and US ECGI Law Working Paper 120/2009 February 2009
Firm-Level Corporate Governance in Emerging Markets: A Case Study of India ECGI Law Working Paper 119/2009 July 2009
Comparative Analysis on Legal Regulation of the Liability of Members of the Management organs of Companies ECGI Law Working Paper 103/2008 February 2008
Does Corporate Governance Predict Firms' Market Values: Time-Series Evidence from Korea ECGI Finance Working Paper 103/2005 November 2005
Predicting Firms' Corporate Governance Choices: Evidence from Korea ECGI Finance Working Paper 087/2005 April 2005
Does Corporate Governance Predict Firms' Market Values? Evidence from Korea ECGI Finance Working Paper 086/2004 May 2005
Outside Director Liability Across Countries ECGI Law Working Paper 071/2006 May 2006
Outside Director Liability ECGI Law Working Paper 068/2006 May 2006
Empty Voting and Hidden Ownership: Taxonomy, Implications, and Reforms ECGI Law Working Paper 064/2006 updated April 2006
Outside Director Liability: A Policy Analysis ECGI Law Working Paper 059/2006 February 2006
Hedge Funds, Insiders, and Empty Voting: Decoupling of Economic and Voting Ownership in Public Companies ECGI Law Working Paper 056/2006 updated March 2006
Outside Directors, Liability Risk and Corporate Governance: A Comparative Analysis ECGI Law Working Paper 048(En)/2005 August 2005 This download is in English. A German version of this paper can be found at ECGI Law Working Paper 48(Ger)/2005
Shareholder Suits and Outside Director Liability: The Case of Korea ECGI Law Working Paper 047/2005 June 2005

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