... The effect of board structure on firm value: a multiple identification strategies approach using Korean data Bernard Blacka,*, Woochan Kimb a Northwestern University, Evanston, USA KDI ... prescriptions affect firm value are often not available The principal advance in this paper is to use a legal shock to governance as a basis for identification for a connection between board structure ... stronger causal inference using panel data BKJP examine the channels through which governance may affect firm market value or performance -7 - Data and governance index construction 3.1 Event dates...