Leveraging as a quasi-natural experiment the staggered passage of universal demand laws,
which raise the difficulty of shareholder lawsuits, we examine the effect of shareholder …

We review the literature on the consequences of US state-level local regulations for various
corporate outcomes in the accounting, finance, and corporate governance domain. We …

This paper documents that changes in litigation risk affect corporate voluntary disclosure
practices. We make causal inferences by exploiting three legal events that generate …

Exploiting the staggered adoption of universal demand (UD) laws as exogenous shocks to
filing derivative lawsuits, we find that weakened shareholder litigation rights cause a …

We examine whether litigation risk is systematically related to corporate tax avoidance. We
find that the exogeneous reduction in the threat of securities class action litigation due to the …

Abstract Research Question/Issue We argue that findings regarding litigation risk in the
United States are not applicable in the Chinese context because Chinese firms are more …

We study the impact of shareholder-initiated litigation risk on a firm's stock price crash risk.
Our empirical analysis takes advantage of the staggered adoption of universal demand …

Capitalizing on a unique ruling by the Ninth Circuit Court of Appeals that unexpectedly
raised the difficulty of shareholder litigation, we examine how an exogenous reduction in …

We employ a difference-in-differences estimation approach to examine the impact of
stakeholder orientation on corporate payout policy. The empirical test exploits the enactment …

This study examines the long-term impacts of climate change on credit spreads using a
sample of A-share listed companies that issued corporate bonds between 2014 and 2020 …