This paper documents significantly negative stock price reactions to shareholder-initiated
class action lawsuits. We find that shareholders partially anticipate these lawsuits based on …

Purpose The purpose of this paper is to review research on litigation in corporate finance.
Design/methodology/approach This paper surveys studies on the estimation of litigation risk …

This paper conducts an event study analysis of the impact of operational loss events on the
market values of banks and insurance companies, using the OpVar database. We focus on …

This paper examines lawsuits in which at least one side, plaintiff or defendant, is a
corporation. We provide evidence on the relative frequency of the legal issues involved and …

Event studies are among the most successful uses of econometrics in policy analysis. By
providing an anchor for measuring the impact of events on investor wealth, the methodology …

This chapter surveys the theoretical and empirical research on the main mechanisms of
corporate law and governance, discusses the main legal and regulatory institutions in …

We investigate whether CEOs around the world are held accountable for stakeholder-
related corporate misbehavior. The likelihood of CEO turnover increases significantly when …

This paper investigates the impact of financial penalties on the profitability and stock
performance of banks. Using a unique dataset of 671 financial penalties imposed on 68 …

The recent increase in the demand for expert economic analysis in antitrust litigation has
improved the welfare of economists; however, the law and economics literature is silent on …

We examine the effects of corporate lawsuits in China and find that litigation announcements
depress the stock prices of both defendant and plaintiff firms. Financially distressed …