Abstract

http://ssrn.com/abstract=844744
 
 

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How Corporate Governance Affects Firm Value: Evidence on Channels from Korea


Bernard S. Black


Northwestern University - School of Law; Northwestern University - Kellogg School of Management; European Corporate Governance Institute (ECGI)

Woochan Kim


Korea University Business School; European Corporate Governance Institute (ECGI); Asia Corporate Governance Institute (AICG)

Hasung Jang


Korea University - Department of Finance

Kyung Suh Park


Korea University - Department of Finance

December 1, 2008

ECGI - Finance Working Paper No. 103/2005
EFA 2009 Bergen Meetings Paper
U of Texas Law, Law and Econ Research Paper No. 51
McCombs Research Paper No. 01-05
KDI School of Pub Policy & Management Paper No. 08/19

Abstract:     
In a companion paper, Bernard Black and Woochan Kim, The Effect of Board Structure on Firm Value: A Multiple Identification Strategy Approach Using Korean Data (working paper 2008), http://ssrn.com/abstract=968287, we seek to identify Korean board structure reforms as likely causing an increase in firm market value.

For our earlier cross-sectional research on Korean corporate governance, see

Bernard Black, Hasung Jang and Woochan Kim, Does Corporate Governance Affect Firms' Market Values? Evidence from Korea,: 22 Journal of Law, Economics and Organization 366-413 (2006), nearly final version at http://ssrn.com/abstract=311275

Bernard Black, Hasung Jang & Woochan Kim, Predicting Firms' Corporate Governance Choices: Evidence from Korea, 12 Journal of Corporate Finance 660-691 (2006), nearly final version at http://ssrn.com/abstract=428662

Number of Pages in PDF File: 48

Keywords: Korea, corporate governance, corporate governance index, law and finance, firm valuation, board of directors, emerging markets

JEL Classification: G12, G32, G34

working papers series





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Date posted: November 9, 2005 ; Last revised: February 2, 2009

Suggested Citation

Black, Bernard S. and Kim, Woochan and Jang, Hasung and Park, Kyung Suh, How Corporate Governance Affects Firm Value: Evidence on Channels from Korea (December 1, 2008). ECGI - Finance Working Paper No. 103/2005; EFA 2009 Bergen Meetings Paper; U of Texas Law, Law and Econ Research Paper No. 51; McCombs Research Paper No. 01-05; KDI School of Pub Policy & Management Paper No. 08/19. Available at SSRN: http://ssrn.com/abstract=844744 or http://dx.doi.org/10.2139/ssrn.844744

Contact Information

Bernard S. Black (Contact Author)
Northwestern University - School of Law ( email )
375 E. Chicago Ave
Unit 1505
Chicago, IL 60611
United States
512-503-2784 (Phone)

Northwestern University - Kellogg School of Management
2001 Sheridan Road
Evanston, IL 60208
United States
847-491-5049 (Phone)
European Corporate Governance Institute (ECGI)
Brussels
Belgium
Woochan Kim
Korea University Business School ( email )
LG-POSCO Bldg #524
Anam-Dong, Seongbuk-Ku
Seoul, Seoul 136701
Korea
+822-3290-2816 (Phone)
+822-922-7220 (Fax)
HOME PAGE: http://biz.korea.ac.kr/professor/wckim
European Corporate Governance Institute (ECGI) ( email )
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
Asia Corporate Governance Institute (AICG) ( email )
1, 5-ga, Anam-dong
Sungbuk-gu
Seoul, 136-701
Korea, Republic of (South Korea)
Hasung Jang
Korea University - Department of Finance ( email )
Seoul, 136-701
Korea
Kyung Suh Park
Korea University - Department of Finance ( email )
Seoul, 136-701
Korea
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