Michael Klausner

Stanford Law School

559 Nathan Abbott Way

Stanford, CA 94305-8610

United States

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

  • Stanford Law School

    • Email
    • Tel: 650-723-6433
    • Fax: 650-725-0253

  • European Corporate Governance Institute (ECGI)

SCHOLARLY PAPERS

35

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67

CROSSREF CITATIONS

127

Scholarly Papers (35)

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1.

A Sober Look at SPACs

Yale Journal on Regulation, Forthcoming, Stanford Law and Economics Olin Working Paper No. 559, NYU Law and Economics Research Paper No. 20-48, European Corporate Governance Institute – Finance Working Paper No. 746/2021
Number of pages: 63 Posted: 16 Nov 2020 Last Revised: 02 Apr 2021
Michael Klausner, Michael Ohlrogge and Emily Ruan
Stanford Law School, New York University School of Law and affiliation not provided to SSRN
Downloads 27,617 (89)
Citation 3

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SPAC, Securities Law

2.

What Economists Have Taught Us About Venture Capital Contracting

BRIDGING THE ENTREPRENEURIAL FINANCING GAP: LINKING GOVERNANCE WITH REGULATORY POLICY, Michael Whincop, ed., Ashgate, 2001
Number of pages: 17 Posted: 15 Aug 2001
Michael Klausner and Kate Litvak
Stanford Law School and Northwestern University - Pritzker School of Law
Downloads 3,072 (4,700)
Citation 7

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3.

Outside Director Liability

as published in Stanford Law Review, Vol. 58, pp. 1055-1159, 2006, ECGI - Law Working Paper No. 68/2006, Stanford Law and Economics Olin Working Paper No. 319, U of Texas Law, Law and Econ Research Paper No. 76
Number of pages: 107 Posted: 04 Apr 2006 Last Revised: 22 Jan 2019
Bernard S. Black, Brian R. Cheffins and Michael Klausner
Northwestern University - Pritzker School of Law, University of Cambridge - Faculty of Law and Stanford Law School
Downloads 2,884 (5,237)
Citation 5

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outside directors, corporate law, securities law, indemnification, D&O insurance

4.

Outside Director Liability (Before Enron and Worldcom)

Stanford Law and Economics Olin Working Paper No. 250
Number of pages: 73 Posted: 12 Dec 2003
Bernard S. Black, Brian R. Cheffins and Michael Klausner
Northwestern University - Pritzker School of Law, University of Cambridge - Faculty of Law and Stanford Law School
Downloads 2,391 (7,100)
Citation 15

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directors, corporate goverance, liability, securities law, corporate law

5.

Outside Directors, Liability Risk and Corporate Governance: A Comparative Analysis (English Version)

ECGI - Law Working Paper No. 48, U of Texas law, Law and Econ Research Paper No. 31
Number of pages: 38 Posted: 09 Sep 2005
Brian R. Cheffins, Bernard S. Black and Michael Klausner
University of Cambridge - Faculty of Law, Northwestern University - Pritzker School of Law and Stanford Law School
Downloads 2,127 (8,598)

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outside directors, corporate governance, Germany, supervisory board, director liability, securities law, corporate law

6.

Do IPO Charters Maximize Firm Value? Antitakeover Protection in Ipos

Downloads 1,988 ( 9,621)
Citation 14

Do IPO Charters Maximize Firm Value? Antitakeover Protection in Ipos

New York University Center for Law and Business Working Paper No. 99-015; and Stanford Law School John M. Olin Law and Economics Working Paper No. 184
Number of pages: 49 Posted: 24 Feb 2000
Robert Daines and Michael Klausner
Stanford Law School and Stanford Law School
Downloads 1,681 (12,372)
Citation 15

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Do IPO Charters Maximize Firm Value? Antitakeover Protection in Ipos

Journal of Law, Economics, and Organization, Vol. 17, pp. 83-120, 2001
Number of pages: 38 Posted: 15 Nov 2005
Robert Daines and Michael Klausner
Stanford Law School and Stanford Law School
Downloads 307 (121,227)

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7.

Liability Risk for Outside Directors: A Cross-Border Analysis

Downloads 1,376 ( 17,263)
Citation 11

Liability Risk for Outside Directors: A Cross-Border Analysis

Number of pages: 20 Posted: 11 Mar 2005
Brian R. Cheffins, Bernard S. Black and Michael Klausner
University of Cambridge - Faculty of Law, Northwestern University - Pritzker School of Law and Stanford Law School
Downloads 1,351 (17,441)

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corporate governance, outside directors, legal liability, corporate law, securities law

Liability Risk for Outside Directors: A Cross-Border Analysis

Number of pages: 12 Posted: 28 Mar 2005
Bernard S. Black, Brian R. Cheffins and Michael Klausner
Northwestern University - Pritzker School of Law, University of Cambridge - Faculty of Law and Stanford Law School
Downloads 25 (611,479)
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8.

Outside Director Liability: A Policy Analysis

Journal of Institutional and Theoretical Economics, Vol. 162, 2006, ECGI - Law Working Paper No. 59/2006, Stanford Law and Economics Olin Working Paper No. 319, U of Texas Law, Law and Econ Research Paper No. 54
Number of pages: 22 Posted: 25 Jan 2006
Bernard S. Black, Brian R. Cheffins and Michael Klausner
Northwestern University - Pritzker School of Law, University of Cambridge - Faculty of Law and Stanford Law School
Downloads 1,165 (22,149)
Citation 3

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outside directors, liability, corporate governance

9.

Outside Directors and Lawsuits: What are the Real Risks?

Number of pages: 11 Posted: 15 Sep 2004
Brian R. Cheffins, Bernard S. Black and Michael Klausner
University of Cambridge - Faculty of Law, Northwestern University - Pritzker School of Law and Stanford Law School
Downloads 1,120 (23,465)

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corporate governance, director liability, fiduciary duty, securities law, securities class actions, law and finance, director duties

10.

Shareholder Suits and Outside Director Liability: The Case of Korea

Journal of Korean Law, Vol. 11, pp. 325-362, 2011, Stanford Law and Economics Olin Working Paper No. #, ECGI - Law Working Paper No. 47/2005
Number of pages: 40 Posted: 17 Jan 2005 Last Revised: 22 Jan 2019
Brian R. Cheffins, Bernard S. Black and Michael Klausner
University of Cambridge - Faculty of Law, Northwestern University - Pritzker School of Law and Stanford Law School
Downloads 1,079 (24,772)

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corporate governance, director liability, fiduciary duty, securities law, securities class actions, law and finance, director duties

11.

The Limits of Corporate Law in Promoting Good Corporate Governance

Number of pages: 6 Posted: 17 Dec 2004
Michael Klausner
Stanford Law School
Downloads 1,048 (25,847)

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governance, shareholder vote, shareholder suits, derivative suits

12.

Fact and Fiction in Corporate Law and Governance

Stanford Law Review, Vol. 65, No. 6, 2013, Stanford Law and Economics Olin Working Paper No. 449
Number of pages: 47 Posted: 24 Jul 2013 Last Revised: 31 Aug 2013
Michael Klausner
Stanford Law School
Downloads 1,017 (26,985)
Citation 23

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Corporate Governance, Governance Theory, Governance Indices

13.

When Time Isn't Money: Foundation Payouts and the Time Value of Money

Number of pages: 11 Posted: 26 Sep 2003
Michael Klausner
Stanford Law School
Downloads 1,008 (27,343)
Citation 2

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private foundation, payout, distributions, nonprofits, charity

14.

The Contractarian Theory of Corporate Law: A Generation Later

Journal of Corporation Law, Vol. 31, p. 779, 2006, Stanford Law and Economics Olin Working Paper No. 334
Number of pages: 20 Posted: 16 Jan 2007
Michael Klausner
Stanford Law School
Downloads 974 (28,694)
Citation 1

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corporate law, corporate governance, contract, contractarian

15.

Institutional Shareholders' Split Personality on Corporate Governance: Active in Proxies, Passive in Ipos

Number of pages: 12 Posted: 28 Nov 2001
Michael Klausner
Stanford Law School
Downloads 961 (29,293)
Citation 3

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16.

Institutional Shareholders, Private Equity, and Antitakeover Protection at the IPO Stage

Number of pages: 37 Posted: 28 Oct 2003
Michael Klausner
Stanford Law School
Downloads 708 (44,594)
Citation 8

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IPO, private equity, venture capital, takeover defenses

17.

Agents Protecting Agents: An Empirical Study of Takeover Defenses in Spinoffs

Stanford Law and Economics Olin Working Paper No. 299
Number of pages: 40 Posted: 17 Mar 2005
Robert Daines and Michael Klausner
Stanford Law School and Stanford Law School
Downloads 648 (50,141)
Citation 2

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Corporate Governance, spinoff, takeover defenses, takeovers

18.

Supreme Court Amicus Brief of 19 Corporate Law Professors, Friedrichs v. California Teachers Association, No. 14-915

Number of pages: 55 Posted: 08 Nov 2015
John C. Coates IV, Lucian A. Bebchuk, Bernard S. Black, John C. Coffee, James D. Cox, Ronald J. Gilson, Jeffrey N. Gordon, Lawrence A. Hamermesh, Henry Hansmann, Robert J. Jackson Jr., Marcel Kahan, Vikramaditya S. Khanna, Michael Klausner, Reinier Kraakman, Donald C. Langevoort, Brian JM Quinn, Edward B. Rock, Mark J. Roe and Helen S. Scott
Harvard Law School, Harvard Law School, Northwestern University - Pritzker School of Law, Columbia Law School, Duke University School of Law, Stanford Law School, Columbia Law School, Widener University Delaware Law School, Yale University - Law School, Professor of Law, New York University School of Law, University of Michigan Law School, Stanford Law School, Harvard Law School, Georgetown University Law Center, BC Law School, New York University School of Law, Harvard Law School and New York University (NYU)
Downloads 586 (57,108)

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corporate politics, union politics, First Amendment, shareholder rights, corporate speech

19.

Outside Directors, Liability Risk and Corporate Governance: A Comparative Analysis (German Version)

ECGI - Law Working Paper No. 48, U of Texas law, Law and Econ Research Paper No. 31
Number of pages: 44 Posted: 09 Sep 2005
Brian R. Cheffins, Bernard S. Black and Michael Klausner
University of Cambridge - Faculty of Law, Northwestern University - Pritzker School of Law and Stanford Law School
Downloads 552 (61,538)
Citation 1

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outside directors, corporate governance, Germany, supervisory board, director liability, securities law, corporate law

20.

How Protective is D&O Insurance in Securities Class Actions? — An Update

PLUS Journal, May 2013, Stanford Law and Economics Olin Working Paper No. 446, Rock Center for Corporate Governance at Stanford University Working Paper No. 144
Number of pages: 8 Posted: 05 May 2013 Last Revised: 26 Jul 2013
Michael Klausner, Jason Hegland and Matthew Goforth
Stanford Law School, Stanford Law School and Stanford Law School
Downloads 536 (63,753)

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Securities litigation, Securities enforcement, Settlement, Directors and Officers Liability Insurance, Insurance

21.

The 'Corporate Contract' Today

Oxford Handbook of Corporate Law and Governance, 2016, Stanford Law and Economics Olin Working Paper No. 490
Number of pages: 46 Posted: 13 Apr 2016 Last Revised: 28 Apr 2016
Michael Klausner
Stanford Law School
Downloads 504 (68,892)
Citation 1

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Corporate governance, contractarian theory, IPO stage, midstream stage, managers, shareholders, public company, corporate law, corporate charters, corporate contract

22.

When are Securities Class Actions Dismissed, When Do They Settle, and for How Much? — An Update

PLUS Journal, April 2013, Stanford Law and Economics Olin Working Paper No. 445, Rock Center for Corporate Governance at Stanford University Working Paper No. 145
Number of pages: 12 Posted: 05 May 2013 Last Revised: 23 Jul 2013
Michael Klausner, Jason Hegland and Matthew Goforth
Stanford Law School, Stanford Law School and Stanford Law School
Downloads 478 (73,516)
Citation 1

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Securities, Securities Litigation, Securities Enforcement, Settlement

23.

Board Declassification and Firm Value: Have Shareholders and Boards Really Destroyed Billions in Value?

NYU Law and Economics Research Paper No. 17-39
Number of pages: 54 Posted: 29 Jun 2017 Last Revised: 10 Oct 2017
Emiliano Catan and Michael Klausner
New York University School of Law and Stanford Law School
Downloads 439 (81,401)
Citation 2

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24.

Empirical Studies of Corporate Law and Governance: Some Steps Forward and Some Steps Not

Forthcoming Chapter of Oxford Handbook on Corporate Law and Governance (2018), European Corporate Governance Institute (ECGI) - Law Working Paper No. 381/2018, Stanford Law and Economics Olin Working Paper No. 513
Number of pages: 44 Posted: 10 Jan 2018 Last Revised: 26 Feb 2018
Michael Klausner
Stanford Law School
Downloads 385 (94,868)

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empirical literature, corporate law, corporate governance, state competition, independent boards, takeover defenses, corporate governance indices, state incorporation, institutional shareholders, poison pills

25.

How Protective is D&O Insurance in Securities Class Actions?

PLUS Journal, Vol. 23, No. 2, February 2010, Stanford Law and Economics Olin Working Paper No. 425
Number of pages: 4 Posted: 29 Mar 2012 Last Revised: 26 Apr 2012
Michael Klausner and Jason Hegland
Stanford Law School and Stanford Law School
Downloads 339 (109,561)

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Director and Officer Liability Insurance, Director and Officer Liability, Securities, Securities Class Actions, Shareholder Litigation, Settlement

26.

Supreme Court Amicus Brief of 22 Corporate Law Professors, Mark Janus v. American Federation of State, County and Municipal Employees, Council 31, et aL, No. 16-1466

Number of pages: 56 Posted: 02 Jan 2018
John C. Coates IV, Lucian A. Bebchuk, John C. Coffee, Bernard S. Black, Lawrence A. Hamermesh, James D. Cox, Marcel Kahan, Reinier Kraakman, Jeffrey N. Gordon, Ronald J. Gilson, Vikramaditya S. Khanna, Michael Klausner, Henry Hansmann, Donald C. Langevoort, Brian JM Quinn, Michal Barzuza, Mira Ganor, Edward B. Rock, Mark J. Roe, Helen S. Scott, Holger Spamann and Randall S. Thomas
Harvard Law School, Harvard Law School, Columbia Law School, Northwestern University - Pritzker School of Law, Widener University Delaware Law School, Duke University School of Law, New York University School of Law, Harvard Law School, Columbia Law School, Stanford Law School, University of Michigan Law School, Stanford Law School, Yale University - Law School, Georgetown University Law Center, BC Law School, University of Virginia School of Law, University of Texas at Austin - School of Law, New York University School of Law, Harvard Law School, New York University (NYU), Harvard Law School and Vanderbilt University - Law School
Downloads 177 (207,761)

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corporate politics, union politics, First Amendment, shareholder rights, corporate speech

27.

A U.S. View of the European Model Company Act

European Company and Financial Law Review, Forthcoming, Stanford Law and Economics Olin Working Paper No. 494
Number of pages: 11 Posted: 03 Jul 2016 Last Revised: 24 Sep 2016
Michael Klausner
Stanford Law School
Downloads 170 (215,064)

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Company law, corporate law, Comparative

28.

Liquidation Rights and Incentive Misalignment in Start-Up Financing

Cornell Law Review, Vol. 98, No. 6, 2013, Stanford Law and Economics Olin Working Paper No. 454
Number of pages: 39 Posted: 23 Oct 2013 Last Revised: 12 Mar 2014
Michael Klausner and Stephen Venuto
Stanford Law School and Orrick Herrington Sutcliffe LLP
Downloads 136 (258,482)
Citation 2

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Venture Capital, Liquidation Rights, Entrepreneurship, Start-up

29.

State Section 11 Litigation in the Post-Cyan Environment

Number of pages: 22 Posted: 01 Jul 2019 Last Revised: 19 Apr 2020
Michael Klausner, Jason Hegland, Carin LeVine and Jessica Shin
Stanford Law School, Stanford Law School, affiliation not provided to SSRN and Stanford Law School
Downloads 109 (303,581)

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Securities litigation, Section 11, State Section 11 litigation, securities class action

30.

State Section 11 Litigation in the Post-Cyan Environment (Despite Sciabacucchi)

The Business Lawyer, 2020, Stanford Law and Economics Olin Working Paper No. 551
Number of pages: 23 Posted: 02 Jun 2020
Michael Klausner
Stanford Law School
Downloads 105 (311,449)

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Securities class actions, Section 11, IPOs

31.

When are Securities Class Actions Dismissed, When Do They Settle, and for How Much?

PLUS Journal, Vol. 23, No. 3, March 2010
Number of pages: 5 Posted: 26 Nov 2012
Michael Klausner and Jason Hegland
Stanford Law School and Stanford Law School
Downloads 93 (337,061)

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Securities class action, settlement

32.

A Tradable Obligation Approach to the Community Reinvestment Act

Revisiting the CRA: Perspectives on the Future of the Community Reinvestment Act, Federal Reserve Banks of Boston and San Francisco, February 2009, Stanford Law and Economics Olin Working Paper No. 375
Number of pages: 25 Posted: 23 May 2009 Last Revised: 16 Nov 2009
Michael Klausner
Stanford Law School
Downloads 62 (424,140)
Citation 1

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CRA, Community Reinvestment Act, Community Development

33.

Lockups and the Market for Corporate Control

Stanford Law Review, Vol. 48, No. 6, 1996.
Posted: 26 Jun 1998
Marcel Kahan and Michael Klausner
New York University School of Law and Stanford Law School

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34.

Path Dependence in Corporate Contracting: Increasing Returns, Herd Behavior and Cognitive Biases

Washington University Law Quarterly, Vol. 74, Issue 2 (1996).
Posted: 03 Jun 1998
Marcel Kahan and Michael Klausner
New York University School of Law and Stanford Law School

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35.

Standardization and Innovation in Corporate Contracting (or 'the Economics of Boilerplate')

Posted: 18 Jul 1997
Marcel Kahan and Michael Klausner
New York University School of Law and Stanford Law School

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