References & Further Reading

SMU Cox Corporate Governance Initiative · v3.84-rev5z · 2026-04-30 · Back to dashboard · Methodology · Corporate Law History · References · Legal & litigation · Legal & litigation · How to Cite

References & Further Reading

Source materials supporting the Tracker's analytics, the research panels, and the broader corporate-governance literature on reincorporation, state competition, and Delaware. Bluebook-format where possible; institutional library access may be required for paywalled journal links.

A. Foundational asset-pricing and event-study methodology

Underlies the per-firm event-study modals (synthetic control, market model, FFC6, Patell-z, BHAR). Citations provided in Bluebook 21st ed. format per the SMU CGI Source & Citation Protocol v1.0.

B. Corporate-law-relevance scholarship: history, mapping, and post-Rhee literature

Section B is organized as a literature map for readers approaching the DExit episode. Subsections B0 through B5 trace the chronological evolution of corporate-law-relevance scholarship from Berle & Means (1932) through the 2024-2026 DExit moment, then group post-Rhee (2023) work into the four camps now contesting the irrelevance thesis.

B0. Eight-phase chronology of corporate-law-relevance scholarship

A condensed map of the eight scholarly phases the Tracker draws on. Each phase is anchored by one or two canonical works listed in the relevant subsection below. The chronology is reproduced from the SMU CGI Post-Rhee Literature Audit (Apr. 2026, Figure 1).

  1. Phase 1 · Foundation (1932) — Berle & Means establish the separation-of-ownership-and-control problem; corporate law presumed to matter.
  2. Phase 2 · Race-debate (1974-1977) — Cary's race-to-the-bottom critique vs. Winter's race-to-the-top response; Delaware as the case study.
  3. Phase 3 · Planted counter-thesis (1990) — Black's Is Corporate Law Trivial? introduces the proto-irrelevance argument.
  4. Phase 4 · Empirical state-competition era (1985-2004) — Romano, Heron & Lewellen, Daines, Subramanian, Bebchuk & Cohen test whether reincorporation choices and the "Delaware premium" actually move firm value.
  5. Phase 5 · Critique consolidation (2002-2015) — Kahan & Kamar, Bebchuk-Cohen-Ferrell, Anderson & Manns, Bartlett & Partnoy challenge methodology and core empirical claims.
  6. Phase 6 · Nevada segmentation (2012-2018) — Barzuza identifies Nevada as a liability-free segment; Eldar provides the first modern multi-state event study.
  7. Phase 7 · The Rhee irrelevance thesis (2023) — Rhee, The Irrelevance of Delaware Corporate Law, synthesizes the prior critiques and establishes the pre-DExit baseline.
  8. Phase 8 · DExit and the post-Rhee debate (2024-2026) — Bainbridge, Khoo & Tallarita, Hurt, Barzuza, Goshen & Stein, Gramitto Ricci & Sautter, Aneiros, Verstein, and Goodwin contest, refine, or extend the irrelevance thesis against live evidence from Texas SB 29 / SB 1057, Delaware SB 21, Nevada AB 239, and the cohort tracked here.
B1. Foundational lineage (Phases 1-4)
B2. Critique consolidation (Phase 5)
B3. Nevada segmentation and modern multi-state event studies (Phase 6)
B4. The Rhee irrelevance thesis (Phase 7) and DExit-era empirical contradictions
B5. SB 21, three-state doctrinal analysis, and institutional reform (Phase 8)

C. Texas corporate-law reform: SB 29, SB 1057, and TBOC

D. Court opinions and litigation

E. Federal securities law and SEC guidance

F. Open data sources, SSRN, and protocol

G. Practitioner sources & advisory commentary on DExit, SB 21, SB 29, SB 1057, and AB 239

Proxy advisor and law-firm memos that the Tracker uses for cross-checking firm classifications, voting policy, and statutory comparison. Not peer-reviewed; load-bearing factual claims are independently verified against primary EDGAR filings and published court opinions.

Note on access. Many of the above journals (e.g., J. Fin. Econ., J. Fin., Rev. Fin. Stud.) are paywalled but available through institutional libraries and SSRN pre-prints. The DOI / [Publisher] links resolve to the paywalled page; the SSRN link resolves to the open-access pre-print where one exists. Per the SMU CGI Source & Citation Protocol §1.2, retrieval order is SSRN → institutional repository → journal site → HLS Forum / CLS Blue Sky → Google Scholar → HeinOnline.

← Back to The Reincorporation Tracker · SMU Cox Corporate Governance Initiative · Hilltop Forum on Capital Markets · sgoodwin@smu.edu