Surprisingly, I can't find anything! The only useful info is that blocking effect has a cap of 85%, and that the perks and other fortify block effect act as a multiplier to the "base effectiveness", but there is no info telling how great the "base effectiveness" is! So I did some experiments, and I think the results are worth knowing.
The base effectiveness of blocking is dependent on the "Rating" of the shield, and this Rating is the same as the base armor rating.
At 0 Block skill, the base effectiveness is "20%Rating+45%", and at 100 Block skill is "50%Rating+45%".
The blocking effectiveness when using any type/material of weapons or a torch is about 1/3 at 0 Block and around 38.5% at 100 block. I'am not sure about those two numbers because they don't fit into the formular, so I hope someone could double confirm it.
It's a simple result, right, but what surprises me is that I can't find it anywhere (or maybe I am just svck at searching). So I hope this result could come into more player's notice. Maybe someone could even put it on UESP (I don't know how to edit a UESP page, too many words and symbols...)
And to anyone who wants to confirm my experiments: I kept all the notes of my experiments in an Excel fiile, and I am thinking about posting it here, but I don't know if it would ruin the layout (so I'm posting it in the below). But if you give me your EMail adresse, I'd be glad to e-mail it to you.