Reference Apparatus · Working Draft

Full Bibliography

Every academic, statutory, case, and data-source authority behind the tri-state corporate-law reform event study — and the Khoo & Tallarita (2025) replication it builds on.
Citation styles. Bluebook 21st edition for legal authorities (cases, statutes, bills); Chicago author–year for finance, econometrics, and statistics. Each entry links to its DOI, JSTOR, SSRN, or official primary source where a public link exists. Compiled June 21, 2026.
Link-audit status flags. Every URL carries one flag.
  • OK URL verified live (this session or a prior pass); links resolve to the cited primary source.
  • LINK UNVERIFIED Citation is correct and the source exists, but the specific mirror/URL was not independently re-validated this session.
  • GATED Source is paywalled or lives in a local repository; cited without a public link.
Per-link flags are authoritative; the full machine-readable audit lives in methodology_citation_link_audit.csv. "All URLs verified" is never claimed globally.
I

Primary academic paper

Khoo & Tallarita (2025). Kenneth Khoo & Roberto Tallarita, The Price of Delaware Corporate Law Reform (2025), SSRN No. 5318203, papers.ssrn.com/abstract=5318203 OK Supports all headline replication targets: the K-T event date (Feb. 18, 2025), the DE-indicator coefficient (≈ −1.4% over [−1,+5]), the blockholder cross-section (>15% block ≈ −1.6%), and the dual-class coefficient (≈ −2.4%), all from K-T Table 5 / Table 7 and abstract. Authorship. Lead author Kenneth Khoo (National University of Singapore, Faculty of Law); co-author Roberto Tallarita (Harvard Law School). The paper was posted to SSRN on June 24, 2025, and circulated on the Harvard Law School Forum on Corporate Governance (Aug. 4, 2025); it is not listed in the Harvard John M. Olin Center Discussion Paper Series, so the neutral SSRN form is used and the Olin-series attribution is dropped. Prior internal references to "Kahan & Tornetta" or "Kobi Kawai Khoo" were errors and are corrected.
II

Statutes and bills

Delaware

DGCL § 102(b)(7) — Director/officer exculpation. Del. Code Ann. tit. 8, § 102(b)(7) (2024), delcode.delaware.gov OK
DGCL § 141(a) — Board authority. Del. Code Ann. tit. 8, § 141(a) (2024), delcode.delaware.gov OK
DGCL § 144 — Interested-director, interested-officer, and controlling-stockholder transactions (as amended by SB 21). Del. Code Ann. tit. 8, § 144 (2025) (amended by S.B. 21, 153d Gen. Assemb., Reg. Sess. (Del. 2025)), delcode.delaware.gov OK
DGCL § 220 — Books-and-records right. Del. Code Ann. tit. 8, § 220 (2024), delcode.delaware.gov OK
Delaware Senate Bill 21 (2025) — the governing event. S.B. 21, 153d Gen. Assemb., Reg. Sess. (Del. 2025) (amending Del. Code Ann. tit. 8, §§ 144, 220). Bill page: legis.delaware.gov/BillDetail/141857 OK; substitute (SS1 for SB 21): BillDetail/141930 OK; enrolled-text mirror: LegiScan LINK UNVERIFIED Event-timing ledger. Introduced Feb. 17, 2025; substitute Mar. 12, 2025; Senate passage Mar. 13, 2025; signature late March 2025. The Feb. 18, 2025 anchor used by Khoo & Tallarita is the first broad market-public signal; the pinned market source for that date remains to be fixed.

Texas

TBOC § 21.373 — Shareholder-proposal ownership thresholds (nationally listed corporations). Tex. Bus. Orgs. Code § 21.373 (2025) (added by S.B. 1057, 89th Leg., Reg. Sess. (Tex. 2025)), statutes.capitol.texas.gov (ch. 21) OK Subject-matter corrected. § 21.373 is the SB 1057 opt-in provision letting a Texas nationally listed corporation set minimum ownership/holding requirements for shareholder proposals (≥ $1M or 3% of voting stock, 6-month holding, 67% solicitation) — not exclusive-forum. The exclusive-forum / internal-entity-claim provision is § 2.115 (amended by SB 29).
TBOC § 21.418(f) — Interested-director safe harbor (BJR shielding). Tex. Bus. Orgs. Code § 21.418(f) (2025) (added by S.B. 29, 89th Leg., Reg. Sess. (Tex. 2025)), statutes.capitol.texas.gov (ch. 21) OK Confirmed against the SB 29 enrolled text, SECTION 10: § 21.418(f) bars a cause of action for the relationship/interest in § 21.418(a) unless permitted by § 21.419.
TBOC § 21.419 — Business-judgment-rule presumptions for directors/officers. Tex. Bus. Orgs. Code § 21.419 (2025) (added by S.B. 29, 89th Leg., Reg. Sess. (Tex. 2025)), statutes.capitol.texas.gov (ch. 21) OK SB 29 enrolled text, SECTION 11: codifies good-faith / informed-basis / corporate-interest / obedience presumptions; rebutting requires fraud, intentional misconduct, ultra vires, or knowing violation pleaded with particularity.
TBOC § 21.552 — Derivative-suit standing (3% threshold). Tex. Bus. Orgs. Code § 21.552 (2025) (amended by S.B. 29, 89th Leg., Reg. Sess. (Tex. 2025)), statutes.capitol.texas.gov (ch. 21) OK SB 29 enrolled text, SECTION 13: for a nationally listed corporation (or a § 21.419-electing corporation with ≥ 500 shareholders), the governing documents may set a minimum-ownership threshold to institute a derivative proceeding, "provided that the required ownership threshold does not exceed three percent of the outstanding shares."
Texas Senate Bill 29 (2025) — the Texas event. S.B. 29, 89th Leg., Reg. Sess. (Tex. 2025) (signed by Gov. Abbott May 14, 2025, effective immediately). Bill history: capitol.texas.gov OK; enrolled text (authoritative): SB00029F.pdf OK Enrolled text confirms: Senate passage Apr. 3, 2025 (30–1); House passage May 2, 2025 (109–7); Senate concurrence May 7, 2025; immediate effect under Tex. Const. art. III, § 39 (two-thirds vote). The Sept. 1, 2025 effective date belongs to companion bills (SB 1057 / SB 2411), not SB 29.
Texas Senate Bill 1057 (2025). S.B. 1057, 89th Leg., Reg. Sess. (Tex. 2025) (signed May 19, 2025, effective Sept. 1, 2025; adds TBOC § 21.373), LegiScan LINK UNVERIFIED
Texas Senate Bill 21 (2023) — establishing the Texas Business Court. S.B. 21, 88th Leg., Reg. Sess. (Tex. 2023), LegiScan LINK UNVERIFIED

Nevada

Nevada Assembly Bill 239 (2025) — director/officer shield. A.B. 239, 83d Leg. (Nev. 2025) (amending Nev. Rev. Stat. §§ 78.138, 78.240; signed by Gov. Lombardo May 30, 2025, effective immediately). Statute: Justia (NRS 78.138) OK
III

Cases

Tornetta v. Musk — post-trial opinion (Jan. 30, 2024). Tornetta v. Musk, 310 A.3d 430 (Del. Ch. 2024). Opinion: courts.delaware.gov OK
In re Tesla, Inc. Derivative Litigation — Delaware Supreme Court reversal (Dec. 19, 2025). In re Tesla, Inc. Deriv. Litig., No. 181, 2025, 2025 WL 3689114 (Del. Dec. 19, 2025) (en banc) (per curiam) GATED Verified June 21, 2026: en banc per curiam opinion reversing the Court of Chancery's rescission and reinstating the 2018 grant (nominal $1 damages; fees on a quantum meruit basis). Reporter pagination pending; cited to the Westlaw cite without a free public URL.
In re Match Group, Inc. Derivative Litigation — Delaware Supreme Court (Apr. 4, 2024). In re Match Grp., Inc. Deriv. Litig., 315 A.3d 446 (Del. 2024). Opinion: courts.delaware.gov OK
Kahn v. M&F Worldwide Corp. — Delaware Supreme Court (Mar. 14, 2014). Kahn v. M&F Worldwide Corp., 88 A.3d 635 (Del. 2014). Opinion: Justia OK
Note on legal direction. Match reaffirmed the strict MFW double-cleansing standard (independent committee and majority-of-minority approval) that SB 21 then displaced for many controller transactions. The 33⅓% controlling-stockholder threshold in amended DGCL § 144 is a new statutory creation, not derived from the MFW / Match line.
IV

Event-study methodology

Brown, Stephen J., and Jerold B. Warner. 1985. "Using Daily Stock Returns: The Case of Event Studies." Journal of Financial Economics 14 (1): 3–31. doi:10.1016/0304-405X(85)90042-X OK
Kothari, S. P., and Jerold B. Warner. 2007. "Econometrics of Event Studies." In Handbook of Corporate Finance: Empirical Corporate Finance, vol. 1, edited by B. Espen Eckbo, 3–36. Amsterdam: North-Holland. doi:10.1016/B978-0-444-53265-7.50015-9 OK
MacKinlay, A. Craig. 1997. "Event Studies in Economics and Finance." Journal of Economic Literature 35 (1): 13–39. jstor.org/stable/2729691 OK
Schipper, Katherine, and Rex Thompson. 1983. "The Impact of Merger-Related Regulations on the Shareholders of Acquiring Firms." Journal of Accounting Research 21 (1): 184–221. doi:10.2307/2490898 OK
V

Long-horizon tests

Barber, Brad M., and John D. Lyon. 1997. "Detecting Long-Run Abnormal Stock Returns: The Empirical Power and Specification of Test Statistics." Journal of Financial Economics 43 (3): 341–372. doi:10.1016/S0304-405X(96)00890-2 OK
Fama, Eugene F. 1998. "Market Efficiency, Long-Term Returns, and Behavioral Finance." Journal of Financial Economics 49 (3): 283–306. doi:10.1016/S0304-405X(98)00026-9 OK
Mitchell, Mark L., and Erik Stafford. 2000. "Managerial Decisions and Long-Term Stock Price Performance." Journal of Business 73 (3): 287–329. doi:10.1086/209645 OK
Lyon, John D., Brad M. Barber, and Chih-Ling Tsai. 1999. "Improved Methods for Tests of Long-Run Abnormal Stock Returns." Journal of Finance 54 (1): 165–201. doi:10.1111/0022-1082.00101 OK
VI

Factor models

Carhart, Mark M. 1997. "On Persistence in Mutual Fund Performance." Journal of Finance 52 (1): 57–82. doi:10.1111/j.1540-6261.1997.tb03808.x OK
Fama, Eugene F., and Kenneth R. French. 1993. "Common Risk Factors in the Returns on Stocks and Bonds." Journal of Financial Economics 33 (1): 3–56. doi:10.1016/0304-405X(93)90023-5 OK
Fama, Eugene F., and Kenneth R. French. 2015. "A Five-Factor Asset Pricing Model." Journal of Financial Economics 116 (1): 1–22. doi:10.1016/j.jfineco.2014.10.010 OK
Kenneth R. French Data Library. mba.tuck.dartmouth.edu/.../data_library.html OK
VII

Identification and matching methods

Abadie, Alberto. 2021. "Using Synthetic Controls: Feasibility, Data Requirements, and Methodological Aspects." Journal of Economic Literature 59 (2): 391–425. doi:10.1257/jel.20191450 OK
Abadie, Alberto, Alexis Diamond, and Jens Hainmueller. 2010. "Synthetic Control Methods for Comparative Case Studies: Estimating the Effect of California's Tobacco Control Program." Journal of the American Statistical Association 105 (490): 493–505. doi:10.1198/jasa.2009.ap08746 OK
Abadie, Alberto, and Javier Gardeazabal. 2003. "The Economic Costs of Conflict: A Case Study of the Basque Country." American Economic Review 93 (1): 113–132. doi:10.1257/000282803321455188 OK
Abadie, Alberto, and Guido W. Imbens. 2006. "Large Sample Properties of Matching Estimators for Average Treatment Effects." Econometrica 74 (1): 235–267. doi:10.1111/j.1468-0262.2006.00655.x OK
Atanasov, Vladimir, and Bernard Black. 2016. "Shock-Based Causal Inference in Corporate Finance and Accounting Research." Critical Finance Review 5 (2): 207–304. doi:10.1561/104.00000031 OK
Austin, Peter C. 2011. "Optimal Caliper Widths for Propensity-Score Matching When Estimating Differences in Means and Differences in Proportions in Observational Studies." Pharmaceutical Statistics 10 (2): 150–161. doi:10.1002/pst.433 OK
Chernozhukov, Victor, Denis Chetverikov, Mert Demirer, Esther Duflo, Christian Hansen, Whitney Newey, and James Robins. 2018. "Double/Debiased Machine Learning for Treatment and Structural Parameters." Econometrics Journal 21 (1): C1–C68. doi:10.1111/ectj.12097 OK
Hainmueller, Jens. 2012. "Entropy Balancing for Causal Effects: A Multivariate Reweighting Method to Produce Balanced Samples in Observational Studies." Political Analysis 20 (1): 25–46. doi:10.1093/pan/mpr025 OK
Iacus, Stefano M., Gary King, and Giuseppe Porro. 2012. "Causal Inference Without Balance Checking: Coarsened Exact Matching." Political Analysis 20 (1): 1–24. doi:10.1093/pan/mpr013 OK
Imbens, Guido W. 2004. "Nonparametric Estimation of Average Treatment Effects under Exogeneity: A Review." Review of Economics and Statistics 86 (1): 4–29. doi:10.1162/003465304323023651 OK
King, Gary, and Richard Nielsen. 2019. "Why Propensity Scores Should Not Be Used for Matching." Political Analysis 27 (4): 435–454. doi:10.1017/pan.2019.11 OK
Robins, James M., Andrea Rotnitzky, and Lue Ping Zhao. 1994. "Estimation of Regression Coefficients When Some Regressors Are Not Always Observed." Journal of the American Statistical Association 89 (427): 846–866. doi:10.2307/2290910 OK
Rosenbaum, Paul R. 2002. Observational Studies. 2d ed. New York: Springer. doi:10.1007/978-1-4757-3692-2 OK
Rosenbaum, Paul R. 2010. Design of Observational Studies. New York: Springer. doi:10.1007/978-1-4419-1213-8 OK
Rosenbaum, Paul R., and Donald B. Rubin. 1985. "Constructing a Control Group Using Multivariate Matched Sampling Methods That Incorporate the Propensity Score." American Statistician 39 (1): 33–38. doi:10.1080/00031305.1985.10479383 OK
Stuart, Elizabeth A. 2010. "Matching Methods for Causal Inference: A Review and a Look Forward." Statistical Science 25 (1): 1–21. doi:10.1214/09-STS313 OK
VIII

Inference, multiple testing, and reproducibility discipline

Harvey, Campbell R. 2017. "Presidential Address: The Scientific Outlook in Financial Economics." Journal of Finance 72 (4): 1399–1440. doi:10.1111/jofi.12530 OK
Harvey, Campbell R., and Yan Liu. 2021. "Lucky Factors." Journal of Financial Economics 141 (2): 413–435. doi:10.1016/j.jfineco.2021.04.014 OK
Harvey, Campbell R., Yan Liu, Alessio Saretto, and Jeffrey Pontiff. 2020. "An Evaluation of Alternative Multiple Testing Methods for Finance Applications." Review of Asset Pricing Studies 10 (2): 199–248. doi:10.1093/rapstu/raaa003 OK Volume 10, issue 2 (not vol. 33); four authors — Pontiff included.
Hou, Kewei, Chen Xue, and Lu Zhang. 2020. "Replicating Anomalies." Review of Financial Studies 33 (5): 2019–2133. doi:10.1093/rfs/hhy131 OK
Petersen, Mitchell A. 2009. "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches." Review of Financial Studies 22 (1): 435–480. doi:10.1093/rfs/hhn053 OK
Romano, Joseph P., and Michael Wolf. 2005a. "Exact and Approximate Stepdown Methods for Multiple Hypothesis Testing." Journal of the American Statistical Association 100 (469): 94–108. doi:10.1198/016214504000000539 OK
Romano, Joseph P., and Michael Wolf. 2005b. "Stepwise Multiple Testing as Formalized Data Snooping." Econometrica 73 (4): 1237–1282. doi:10.1111/j.1468-0262.2005.00615.x OK
Thompson, Samuel B. 2011. "Simple Formulas for Standard Errors that Cluster by Both Firm and Time." Journal of Financial Economics 99 (1): 1–10. doi:10.1016/j.jfineco.2010.08.016 OK
Welch, Ivo. 2023. "Reproducing, Extending, Updating, Replicating, Reexamining, and Reconciling." Critical Finance Review 12 (1): 1–25. doi:10.1561/104.00000110 OK
IX

Corporate-finance and governance literature

Almeida, Heitor, Murillo Campello, and Michael S. Weisbach. 2004. "The Cash Flow Sensitivity of Cash." Journal of Finance 59 (4): 1777–1804. doi:10.1111/j.1540-6261.2004.00679.x OK
Bates, Thomas W., Kathleen M. Kahle, and René M. Stulz. 2009. "Why Do U.S. Firms Hold So Much More Cash than They Used To?" Journal of Finance 64 (5): 1985–2021. doi:10.1111/j.1540-6261.2009.01492.x OK
Bertrand, Marianne, and Sendhil Mullainathan. 2003. "Enjoying the Quiet Life? Corporate Governance and Managerial Preferences." Journal of Political Economy 111 (5): 1043–1075. doi:10.1086/376950 OK
Bessembinder, Hendrik. 2018. "Do Stocks Outperform Treasury Bills?" Journal of Financial Economics 129 (3): 440–457. doi:10.1016/j.jfineco.2018.06.004 OK
Gompers, Paul A., Joy Ishii, and Andrew Metrick. 2010. "Extreme Governance: An Analysis of Dual-Class Firms in the United States." Review of Financial Studies 23 (3): 1051–1088. doi:10.1093/rfs/hhp024 OK
Larcker, David F., and Edward M. Watts. 2020. "Where's the Greenium?" Journal of Accounting and Economics 69 (2–3): 101312. doi:10.1016/j.jacceco.2020.101312 OK
Masulis, Ronald W., Cong Wang, and Fei Xie. 2009. "Agency Problems at Dual-Class Companies." Journal of Finance 64 (4): 1697–1727. doi:10.1111/j.1540-6261.2009.01477.x OK
Romano, Roberta. 1985. "Law as a Product: Some Pieces of the Incorporation Puzzle." Journal of Law, Economics, & Organization 1 (2): 225–283. doi:10.1093/oxfordjournals.jleo.a036887 OK
Shumway, Tyler. 1997. "The Delisting Bias in CRSP Data." Journal of Finance 52 (1): 327–340. doi:10.1111/j.1540-6261.1997.tb03818.x OK
X

Specification, outliers, and applied methodology

Adams, Justin, Darren Hayunga, Sattar Mansi, David Reeb, and Vincenzo Verardi. 2019. "Identifying and Treating Outliers in Finance." Financial Management 48 (2): 345–384. doi:10.1111/fima.12269 OK
Black, Bernard, Hemang Desai, Kate Litvak, Woongsun Yoo, and Jeffrey Jiewei Yu. 2023. "Specification Choice in Randomized and Natural Experiments: Lessons from the Regulation SHO Experiment." Journal of Law, Economics, & Organization 39 (1): 1–36. doi:10.1093/jleo/ewac007 OK
DiNardo, John, and Jörn-Steffen Pischke. 1997. "The Returns to Computer Use Revisited: Have Pencils Changed the Wage Structure Too?" Quarterly Journal of Economics 112 (1): 291–303. doi:10.1162/003355397555190 OK
XI

Data sources and policy

American Economic Association. Data and Code Availability Policy. aeaweb.org/journals/data/data-code-policy OK
American Finance Association. Journal of Finance Code-and-Data Disclosure Policy. afajof.org/journal-policies LINK UNVERIFIED
Center for Research in Security Prices. CRSP Daily Security File (delisting-adjusted). crsp.org LINK UNVERIFIED
U.S. Securities and Exchange Commission. EDGAR Full-Text Search System. efts.sec.gov LINK UNVERIFIED (machine API endpoint; the human-facing search lives at efts.sec.gov / sec.gov/edgar/search)
Wharton Research Data Services. Compustat North America. wrds-www.wharton.upenn.edu LINK UNVERIFIED
XII

Canonical project pages and internal artifacts

SMU CGI Tri-State Event Study (canonical page). Shane Goodwin, Tri-State Corporate-Law Reform Event Study, SMU Cox Corporate Governance Initiative, working draft (vintage 2026-06-19), cohort_event_study.html GATED

The following internal artifacts are referenced in this bibliography's binding rules. They live in the project repository and are GATED (no public link).

run_manifest.json — input/script/version hashes per run run_status.json — per-result cross-platform reproduction status cohort_coverage_diagnostic.json — universe → retained → cohort link counts exclusion_ledger.csv — every excluded firm with a named reason code daily_returns_panel_manifest.json — return-source vintage per row daily_returns_panel_reconciliation.csv — CRSP vs Compustat overlap diffs factor_coverage.json — FF5 / UMD max dates per run wrds_pull_manifest.json — Compustat pull provenance controls_dictionary.json — Compustat-field mapping controller_variable_repair.json — Capital IQ → DEF 14A repair (GATED on DEF 14A Item 403 rebuild) voting_blocks_with_sources.parquet — parser output + source URLs event_timing_ledger.json — SB 21 introduction / substitute / passage / signature dates locked_analysis_plan_DE_SB21.pdf — frozen plan (verification needed) locked_analysis_plan_TX_SB29.pdf — frozen plan (verification needed) locked_analysis_plan_movers.pdf — frozen plan (verification needed) tristate_results_canonical.json — 6 × 5 ATT matrix balance_diagnostics.json — pre/post SMD per estimator rosenbaum_gamma_results.json — Γ at p = 0.05 per estimator × window romano_wolf_results.json — FWE-adjusted p-values estimator_status_grid.json — FINAL / PROVISIONAL / DIAGNOSTIC / FAILED labels methodology_citation_link_audit.csv — per-URL status ledger for this bibliography sources_crosswalk.csv — firm × EDGAR accession ledger
XIII

Citation discipline notes

  1. K-T means Khoo–Tallarita. Prior internal references to "Kahan & Tornetta" or to "Kobi Kawai Khoo" were errors and are corrected. The paper is cited in the neutral SSRN form; it is not in the Harvard Olin Discussion Paper Series, so that attribution is not used.
  2. Harvey-Liu-Saretto-Pontiff (2020) is volume 10, issue 2 of the Review of Asset Pricing Studies (not volume 33). Four authors; Pontiff was previously omitted in some drafts.
  3. Rosenbaum (2002) Observational Studies and Rosenbaum (2010) Design of Observational Studies are separate books, not reprints. Γ-sensitivity appears in both; this project cites the 2002 work for the procedure.
  4. TBOC § 21.373 is the SB 1057 shareholder-proposal threshold, not exclusive-forum. Confirmed against the SB 29 enrolled text and SB 1057 sources: SB 29's exclusive-forum / internal-entity-claim provision is § 2.115; § 21.373 (added by SB 1057) governs ownership/holding thresholds for shareholder proposals at nationally listed corporations.
  5. In re Match Group reaffirmed the strict double-cleansing MFW standard that SB 21 then displaced. Match did not "extend" or "reaffirm" the 33⅓% controller threshold, which is a new statutory creation in amended DGCL § 144.
  6. SB 21 event-date anchor. Delaware's official bill page shows introduction on Feb. 17, 2025. The Feb. 18, 2025 anchor used by Khoo & Tallarita is the first broad market-public signal; the pinned market source for that date remains to be fixed.
  7. SB 29 effective date. Signed May 14, 2025 and effective immediately under Tex. Const. art. III, § 39 (verified against the enrolled text). The September 1, 2025 effective date belongs to companion bills (SB 1057 / SB 2411).
  8. "Pre-registration" is reserved for true external registrations. Internal frozen analysis plans are labeled "locked analysis plan."
  9. No global "all URLs verified" claim. Per-link status flags above are authoritative; the bibliography-wide audit is methodology_citation_link_audit.csv.
Related: Tri-State Event Study · Full Methodology
Total: 51 academic / statutory / case / data-source references plus 22 internal canonical artifacts. SMU Cox · Corporate Governance Initiative · Cox & Dedman Law. Empirical research only — not legal, investment, or tax advice. All interpretations are the author's own and do not represent SMU. Working draft — not for external distribution until the voting-power rebuild + as-of-event lock land.