Predicting Firms' Corporate Governance Choices: Evidence from Korea

Predicting Firms' Corporate Governance Choices: Evidence from Korea

Bernard Black, Hasung Jang, Woochan Kim

Series number :

Serial Number: 

Date posted :

April 01 2005

Last revised :

November 20 2018
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  • Korea • 
  • Corporate governance • 
  • corporate governance index • 
  • law and finance

In a companion paper, we report evidence that a broad corporate governance index predicts higher share prices for Korean firms. 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

For our related, subsequent work with panel data on Korean governance, see:

Bernard Black and Woochan Kim, The Effect of Board Structure on Firm Value: A Multiple Identification Strategy Approach Using Korean Data (working paper 2008), (identification of board structure reforms with an increase in firm market value).

Bernard Black, Woochan Kim, Hasung Jang and Kyung-Suh Park, How Corporate Governance Affects Firm Value: Evidence on Channels from Korea (working paper 2008), (channels through which governance may affect firm value).

Published in

Published in: 
Publication Title: 
Journal of Corporate Finance
Vol. 12, pp. 660-691, 2006


Fellow, Research Member
Northwestern University Law School and Kellogg School of Management Law School