Research Papers

The following is a complete list of working papers by number from the present to the beginning of the series. Any paper whose title is underscored can be downloaded by clicking on its number and following the onscreen instructions. More papers will be added over time.

2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003

2009

174.
173.
172. Avraham, Ronen &
Zhiyong Liu  		Private Information and the Option to Not Sue:
A Re-evaluation of Contract Remedies
171. Black, Bernard S.;
Charles Silver &
David Hyman		 O’Connell Early Offers: Toward Realistic Numbers
170. Tiede, Lydia B. &
Daniel B. Rodriguez 		Explaining the Variance in Federal Immigration Prosecutions: Should National Policy
Control A Largely Local Endeavor?
169. Boudreau, Cheryl;
Matthew D. McCubbins,
Daniel B. Rodriguez, &
Nicholas Weller

Opting In or Opting Out: The Conditions for
Developing Consensus
168. Schwartz, Warren F. &
Abraham L. Wickelgren

Optimal Antitrust Enforcement: Competitor Suits, Entry, and Post-entry Competition
167. Dickerson, A. Mechele

The Myth of Home Ownership and Why Home Ownership
Is Not Always A Good Thing
166. Dammann, Jens C. Regulatory Competition and Legal Determinacy
in Corporate Law
165. Baker, Lynn A.

Constitutional Ambiguities and Originalism: Lessons from the Spending Power
164. Baker, Lynn A.; &
Daniel B. Rodriguez

Constitutional Home Rule and Judicial Scrutiny
163. Johnson, Calvin H.

Taxing the Consumption of Capital Gains
162. Johnson, Calvin H. The Effective Tax Ratio and the Undertaxation of Intangibles
161.

Avraham, Ronen

Private Regulation - A New Approach To The US Healthcare Crisis
160. Avraham, Ronen;
Leemore S. Dafny &
Max M. Schanzenbach		 The Impact of Tort Reform on Employer-Sponsored Health Insurance Premiums
159. Atanasov, Valadimir;
Bernard S. Black &
Conrad S. Ciccotello

Unbundling and Measuring Tunneling:
An Application to the Oil and Gas Industry
158. Atanasov, Valadimir;
Bernard S. Black &
Conrad S. Ciccotello

Law and Tunneling
157. Dickerson, A. Mechele Consumer Over-Indebtedness: A U.S. Perspective
156. Dickerson, A. Mechele Privatizing Ethics in Corporate Reorganizations
155. Black, Bernard S.

The Effect of Hospital Infection Reporting on Infection Rates: A Case Study of Pennsylvania
154. Sage, William M. &
David A. Hyman		 Combating Antibiotic Resistance: Regulatory Strategies and Institutional Capacity
153. Black, Bernard S.; Antonio Gledson de Carvalho &
Érica Christina Rocha Gorga		 Does One Size Fit All in Corporate Governance:
Evidence From Brazil
152. Black, Bernard S.; Antonio Gledson de Carvalho &
Érica Christina Rocha Gorga		 What Elements of Corporate Governance Predict Firm
Value (and What Predicts Governance Choices):
Evidence from Brazil

151.

 Weiss, Deborah M. The Paradox of Statistical Discrimination
150. Warren, Elizabeth &
Jay L. Westbrook 		The Success of Chapter 11: A Challenge to the Critics
149. McCubbins, Matthew D.;
Daniel B. Rodriguez &
Barry R. Weingast		The Rule of Law Unplugged
148. Black, Bernard S. &
Simon Gervais		 Incentives in the Market for Mortgage-Backed Securities
147. Miller, Geoffrey P. &
Charles Silver 		The Quasi-Class Action Method of Managing Multidistrict
Litigations: Problems and a Proposal
146. Ganor, Mira Why Do Managers Dismantle Staggered Boards?
145. Duffie, Darrell &
Henry T. C. Hu 		Competing for a Share of Global Derivatives Markets:
Trends and Policy Choices for the United States
144. Dammann, Jens C. &
David M. Rabban		 Adjudicative Jurisdiction and the Market for Corporate Charters
143. Hyman, David A.,
Bernard S. Black &
Charles Silver 		Waiting for the Big One: The Economics of Plaintiff-Side Personal Injury Litigation
142. Black, Bernard S.,
David A. Hyman &
Charles Silver 		The Impact of Insurer "Duty to Settle" on Settlement:
Evidence From Texas
141. Ganor, Mira Perpetual Thrones in M&A Transactions

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2008

# Author(s) Paper Title
140. Black, Bernard S. Due Diligence: Failures and Remedies
139. Avraham, Ronen The Unexpected Effects of Caps on Non-Economic Damages
138. Avraham, Ronen Should Courts Ignore Ex Post Information When Determining Contract Damages?
A Re-Evaluation of Contract Remedies
137. Spence, David B. Can Law Manage Competitive Energy Markets?
136. Lawless, Robert M.;
Angela K. Littwin,
Katherine M. Porter,
John Pottow,
Deborah Thorne &
Elizabeth Warren 		Did Bankruptcy Reform Fail? An Empirical Study of Consumer Debtors
135. Johnson, Calvin H. The Effective Tax Ratio and the Undertaxation
of Intangible Investments
134.

Silver, Charles,<br />

David A. Hyman &
Bernard S. Black

 The Impact of the 2003 Texas Medical Malpractice Damages Cap on
Physician Supply and Insurer Payouts: Separating Facts from Rhetoric
133. Black, Bernard S. Equity Swaps and Schedule 13D
132. Markovits, Richard S. Two Distortion-Analysis Approaches To Economic-Efficiency Analysis:
A Third-Best-Economically-Efficient Response to the General Theory of Second Best
131. Ganor, Mira Investing in the Competition
130. Hyman, David A.; Bernard S. Black,
& Charles Silver 		The Effects of Pretrial Process Reform: Evidence from Texas Medical Malpractice Cases
129. Kim, Woochan; Taeyoon Sung, & Shang-Jin Wei Does Corporate Governance Risk at Home Affect Investment Choices Abroad?
128. Kim, Woochan; Woojin Kim, & Kap-Sok Kwon Value of Shareholder Activism: Evidence from the Switchers
127. Markovits, Richard S. Truth or Economics: On The Definition, Prediction &
Relevance of Economic Efficiency
126.

Dammann, Jens C. &
Mathias Schundeln

When Are Limited Liability Companies Formed? An Empirical Analysis
125. Spence, David B. Can Law Manage Competitive Energy Markets?
124. McNOLLGAST &
Daniel B. Rodriguez		 Administrative Law Agonistes
123. Han Kim, E. & Woochan Kim Corporate Governance in Korea: A Decade after the Financial Crisis
122. Hu, Henry T. C. &
Bernard S. Black		 Equity and Debt Decoupling and Empty Voting II: Importance and Extensions
121. Litvak, Kate Frank Easterbrook and Daniel Fischel
120. Hu, Henry T. C. &
Bernard S. Black		 Debt, Equity, and Hybrid Decoupling: Governance and Systemic Risk Implications

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2007

# Author(s) Paper Title
119. Dammann, Jens C. &
Matthias Schundeln		 The Incorporation Choices of Privately Held Corporations
118. Johnson, Calvin H. Why Do Venture Capital Funds Burn Research and Development Deductions?
117.

Atanasov, Vladimir,
Bernard S. Black &
Conrad S. Ciccotello

 Unbundling and Measuring Tunneling
116. Hu, Henry T. C. &
Bernard S. Black		 Equity and Debt Decoupling and Empty Voting II: Importance and Extensions
115. Graglia, Lino A.Leegin Creative Leather Products, Inc. v. PSKA, Inc.:
The Strange Career of the Law of Resale Price Maintenance
114. Dammann, Jens C. Majority Freezeouts
113.

Black, Bernard S., Brian R. Cheffins, Martin Gelter, Hwa-Jin Kim, Richard Nolan, Mathias Siema & Linia Prava Law Firm

 Legal Liability of Directors and Company Officials Part 2: Court Procedures, Indemnification and Insurance, and Administrative and Criminal Liability
(Report to the Russian Securities Agency)
112.

Black, Bernard S., Brian R. Cheffins, Martin Gelter, Hwa-Jin Kim, Richard Nolan, Mathias Siems & Linia Prava Law Firm

 Legal Liability of Directors and Company Officials Part 1: Substantive Grounds for Liability (Report to Russian Securities Agency)
111. Hawkins, Jim Renting the Good Life
110. Black, Bernard S., Brian R. Cheffins, Martin Gelter, Hwa-Jin Kim, Richard Nolan, Mathias Siems & Linia Prava Law Firm Comparative Analysis on Legal Regulation of the Liability of Members of the Management Organs of Companies
109. Black, Bernard S., Antonio Gledson de Carvalho
& Érica Christina Rocha Gorga		 The Corporate Governance of Privately Controlled Brazilian Firms
108. Litvak, Kate

Defensive Management: Does the Sarbanes-Oxley Act
Discourage Corporate Risk-Taking?

107. Litvak, Kate The Long Term Effect of Sarbanes-Oxley on Cross-Listing Premia
106. Hyman, David A.;
Bernard S. Black,
Charles Silver &
William M. Sage

Estimating the Effect of Damage Caps in Medical
Malpractice Cases:Evidence from Texas

105. Allison, John R.; Abe Dunn
& Ronald J. Mann 		Software Patents, Incumbents, and Entry
104. Mann, Ronald J. &
Travis Siebeneicher		 Just One Click: The Reality of Internet Retail Contracting
103. Rau, Alan S. Arbitral Jurisdiction and the Dimensions of ''Consent''
102. Silver, Charles; Kathryn Zeiler, Bernard S. Black,
David A. Hyman & William M. Sage		 Malpractice Payouts and Malpractice Insurance:
Evidence from Texas Closed Claims, 1990-2003

101. Westbrook, Jay L.

International Academy of Commercial and Consumer Law Changing Law for Changing Times, 13th Biennial Meeting: Avoidance of Pre-Bankruptcy Transactions in Multinational Bankruptcy Cases

100. Hu, Henry T. C. &
Jay L. Westbrook		 Abolition of the Corporate Duty to Creditors
099. Black, Bernard S.;
David A. Hyman,
Charles Silver &
William H. Sage		 Defense Costs in Medical Malpractice and Other Personal
Injury Cases: Evidence from Texas, 1988-2004
098. Dammann, Jens C. &
Henry Hansmann 		A Global Market for Judicial Services
097. Allison, John R. &
Ronald J. Mann 		The Disputed Quality of Software Patents
096. Hu, Henry T. C. &
Bernard S. Black		 Hedge Funds, Insiders, and the Decoupling of Economic and Voting Ownership: Empty Voting and Hidden (Morphable) Ownership
095. Litvak, Kate Firm Governance as a Determinant of Capital Lock-In
094. Litvak, Kate Sarbanes-Oxley and the Cross-Listing Premium

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2006

# Author(s) Paper Title
093. Cross, Frank B. &
Stephanie A Lindquist		 The Scientific Study of Judicial Activism
092. Bracha, Oren

Standing Copyright Law on Its Head? The Googlization of
Everything and the Many Faces of Property

091. Johnson, Calvin H. Was it Lost?: Personal Deductions Under Tax Reform
090. Cross, Frank B.;
Thomas A. Smith
& Antonio Tomarchio		 Determinants of Cohesion in the Supreme Court's Network of Precedents
089. Black, Bernard S. &
Woochan Kim		The Effect of Board Structure on Firm Value in an Emerging Market:
IV, DiD, and Time Series Evidence from Korea
088. Warren, Elizabeth &
Jay L. Westbrook		 The Dialogue Between Theoretical and Empirical Scholarship
087. Khanna, Vikramaditya &
Bernard S. Black 		An Overview of Indian Corporate Governance Practices
086. Black, Bernard S. & Vikramaditya Khanna Can Corporate Governance Reforms Increase Firms'
Market Values? Evidence From India
085. Gorga, Érica Christina Rocha &
Michael Halberstam 		Knowledge Inputs, Legal Institutions and Firm Structure:
Towards a Knowledge-Based Theory of the Firm
084. Mann, Ronald J.The Supreme Court, The Solicitor General and
Bankruptcy: BFP v. Resolution Trust Corporation
083. Mann, Ronald J. & Jim Hawkins Just Until Payday
082. Stapelton, Jane Occam's Razor Reveals an Orthodox Basis for Chester v. Afshar
081. Leiter, Brian & Michael Weisberg Why Evolutionary Biology is (So Far) Irrelevant to Law
080. Atanasov, Vladimir A.,
Bernard S. Black,
Conrad S. Ciccotello & Stanley B. Gyoshev		 How Does Law Affect Finance? An Examination of Financial Tunneling in an Emerging Market
079. Sullivan, Teresa A.,
Elizabeth Warren
& Jay L. Westbrook		 Less Stigma or More Financial Distress: An Empirical Analysis
of the Extraordinary Increase in Bankruptcy Filings
078. Warren, Elizabeth & Jay L. Westbrook Contracting Out of Bankruptcy: An Empirical Intervention
077. Allison, John R., Abe Dunn &
Ronald J. Mann		Patents and Business Models for Software Firms
076. Black, Bernard S., Brian Cheffins &
Michael Klausner		Outside Director Liability
075. Mann, Ronald J. Bankruptcy Reform and The "Sweat Box"
of Credit Card Debt
074. Prentice, Robert A.Law & Gratuitous Promises
073. Prentice, Robert A. &
Frank B. Cross 		Economies, Capital Markets, and Securities Law
072. Prentice, Robert A. Regulatory Competition in Securities Law: A Dream (That Should) Be Deferred
071. Prentice, Robert A. The Inevitability of a Strong SEC
070. Hu, Henry T. C. & Bernard S. Black

Empty Voting and Hidden (Morphable) Ownership:
Taxonomy, Implications, and Reforms

069. Hu, Henry T. C. & Bernard S. Black Hedge Funds, Insiders, and the Decoupling of Economic and Voting Ownership: Empty Voting and Hidden (Morphable) Ownership
068. Hyman, David A., Bernard S. Black,
Charles Silver, William M. Sage &
Kathryn Zeiler		Do Defendants Pay What Juries Award?:
Post-Verdict Haircuts in Texas Medical Malpractice Cases, 1988-2003
067. Silver, Charles, Kathryn Zeiler,
Bernard S. Black, David A. Hyman &
William M. Sage		Physicians' Insurance Limits and Malpractice Payments:
Evidence from Texas Closed Claims, 1990-2003

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2005

# Author(s) Paper Title
066.

Black, Bernard S., Inessa Love
& Andrei Rachinsky

Corporate Governance and Firms' Market Values: Time Series Evidence from Russia
065. Cross, Frank B.Legal Process, Legal Realism and the Strategic Political Effects of Procedural Rules
064. Cross, Frank B.Law and Trust
063. Cross, Frank B.Identifying the Virtues of the Common Law
062. Gamage, David & Kedem AllonCommodification and Contract Formation: Placing the Consideration Doctrine on Stronger Foundations
061. Dickerson, A. Mechele"Words that Wound: Defining, Discussing, and Defeating Bankruptcy 'Corruption'"
060. Mann, Ronald J."Contracting" for Credit
059. Mann, Ronald J.Optimizing Consumer Credit Markets and Bankruptcy Policy
058. Mann, Ronald J.The Commercialization of Open Source Software: Do Property Rights Still Matter?
057.

Mann, Ronald J. &
Thomas W. Sager

Patents, Venture Capital, and Software Start-ups
056. Dammann, Jens C. &
Henry Hansmann		 Extraterritorial Courts for Corporate Law
055. Litvak, KateThe Effect of the Sarbanes-Oxley Act on Non-US Companies Cross-Listed in the US
054. Black, Bernard S., Brian R. Cheffins & Michael KlausnerOutside Director Liability: A Policy Analysis
053. Hu, Henry T. C. &
Bernard S. Black		 The New Vote Buying: Empty Voting and Hidden (Morphable) Ownership
052. Black, Bernard S. Ranking Law Schools: Using SSRN to Measure Scholarly Performance
051. Johnson, Calvin H.Tales from the KPMG Skunk Works: The Basis-Shift or Defective-Redemption Shelter
050. Black, Bernard S., Brian R. Cheffins & Michael Klausner Outside Director Liability (Before Enron and WorldCom)
049. Mann, Ronald J.Global Credit Card Use and Debt: Policy Issues and Regulatory Responses
048. Teichman, DoronThe Market for Criminal Justice: Federalism, Crime Control, and Jurisdictional Competition
047. Teichman, Doron Sex, Shame, and the Law: An Economic Perspective on Megan's Law
045. Mann, Ronald J. &
Seth R. Belzley		 The Promise of Internet Intermediary Liability
044. Mann, Ronald J. Credit Cards, Consumer Credit, and Bankruptcy
043. Markovits, Richard S.Marine-Salvage Law and Marine-Peril-Related Policy: A Second-Best and Third-Best Economics-Efficiency Analysis of the Problem, the Law, and the Classic Landes and Posner Study
042. Markovits, Richard S.On the Possibly-Predatory Character of Non-Systems-Rivalry Investments and Systems Rivalry: Definitional, Functional, and Legal Analyses
041. Markovits, Richard S.Liberalism and Tort Law: On the Content and Allocative Efficiency of a Liberal Common Law of Torts

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2004

# Author(s) Paper Title
040. Mann, Ronald J.An Empirical Investigation of Liquidation Choices of Failed High Tech Firms
039.

Black, Bernard S.,
Hasung Jang & Woochan Kim

 Predicting Firms' Corporate Governance Choices: Evidence from Korea
038. Hyman, David A. & Charles Silver The Poor State of Health Care Quality in the U.S.:
Is Malpractice Liability Part of the Problem or Part of the Solution?
036. Markovits, Richard S. Tort-Related Risk Costs and the Hand Formula for Negligence
035.

Black, Bernard S.,
Brian R. Cheffins
& Michael D. Klausner

Shareholder Suits and Outside Director Liability: The Case of Korea
034. Litvak, Kate

Governance Through Exit: Default Penalties and Walkaway Options in Venture Capital Partnership Agreements

033. Edelman, Paul H., Richard Allen Nagareda
& Charles Silver 		The Allocation Problem in Multiple-Claimant Representations
032. Black, Bernard S.,
Brian R. Cheffins
& Michael D. Klausner		 Outside Directors and Lawsuits: What Are the Real Risks?
031. Black, Bernard S. &
Brian R. Cheffins 		Outside Director Liability Across Countries
030. Black, Bernard S.,
Charles Silver, David A. Hyman
& William M. Sage		 Stability, Not Crisis: Medical Malpractice Claim Outcomes in Texas, 1988-2002
029. Litvak, Kate

Venture Capital Limited Partnership Agreements:
Understanding Compensation Arrangements

028. Johnson, Calvin H. The Incredible Shrinking Domain of Corporate Stock
027. Black, Bernard S.,
Brian R.Cheffins
& Michael Klausner		 Liability Risk for Outside Directors: A Cross-Border Analysis
026. Black, Bernard S., Hasung Jang
& Woochan Kim 		Does Corporate Governance Affect Firms' Market Values?
Evidence from Korea
025. Reese, R. Anthony Reducing Digital Copyright Infringement Without Restricting Innovation
024. Fennell, Lee Anne Relative Burdens: Family Ties and the Safety Net
023. Westbrook, Jay L. The Control of Wealth in Bankruptcy
022. Mann, Ronald J. The Myth of the Software Patent Thicket: An Empirical Investigation of the Relationship
Between Intellectual Property and Innovation in Software Firms
021. Reese, R. Anthony Will Merging Access Controls and Rights Controls Undermine the
Structure of Anticircumvention Law?
020. Mann, Ronald J. Contracts with Consent: A Contextual Critiqueof the No-Retraction Liability Regime
019. Mann, Ronald J. Making Sense of Payments Policy in the Information Age
018. Mann, Ronald J. Credit Card Policy in a Globalized World
017. Fennell, Lee AnneContracting Communities

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2003

# Author(s) Paper Title
016. Johnson, Calvin H. Tax Profs Urge SEC to Take Tough Stance on Auditor Independence
015. Johnson, Calvin H. A Thermometer for the Tax System: The Overall Health of the Tax System as Measured by Implicit Tax
014. Johnson, Calvin H. Barbie Dolls in the Archeological Dig: Professor Johnson Responds
013.
012. Johnson, Calvin H.The Bush 35 Percent Flat Tax on Distributions from Public Corporations
011. Johnson, Calvin H. Destroying Tax Base: The Proposed INDOPCO Capitalization Regulations
010. Johnson, Calvin H. Depreciation Policy During Carnival: The New 50 Percent Bonus Depreciation
009. Johnson, Calvin H. Point & Counterpoint: The Proposed 12-Month Rule: A Solomonic Solution or a Victory for the Foxes?
008. Markovits, Richard S. Why Kaplow and Shavell's "Double-Distortion Argument" Articles are Wrong
007. Mann, Ronald J. Regulating Internet Payment Intermediaries
006. Netanel, Neil W. Impose a Noncommercial Use Levy to Allow Free Peer-to Peer File Sharing
005. Fennell, Lee Anne Common Interest Tragedies
004. Reese, R. Anthony The First Sale Doctrine in the Era of Digital Networks
003. Johnson, Calvin H.Why Stock and Stock-Option Compensation are Such a Terrible Idea
002. Mann, Ronald J. The Rise of State Bankruptcy-Directed Legislation
001. Fennell, Christopher C.
& Lee Anne Fennell		 Fear and Greed in Tax Policy: A Qualitative Research Agenda

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