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Litigation risk and corporate performance
16 references·0 citing·52 second hop
Litigation risk and corporate performance (2022)Litigation risk and corporate performanceGrowing Out of Trouble? Corporate Responses to Liability Risk (2011)Growing Out of Trouble? Corpo…Corporate Policies of Republican Managers (2011)Corporate Policies of Republi…Shareholder-Initiated Class Action Lawsuits: Shareholder Wealth Effects and Industry Spillovers (2009)Shareholder-Initiated Class A…Access to Capital, Capital Structure, and the Funding of the Firm (2009)Access to Capital, Capital St…The Cost to Firms of Cooking the Books (2008)The Cost to Firms of Cooking …Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…Environmental risk management and the cost of capital (2008)Environmental risk management…Capital Structure Decisions: Which Factors Are Reliably Important? (2007)Capital Structure Decisions: …Law, finance, and economic growth in China (2005)Law, finance, and economic gr…Does disclosure deter or trigger litigation? (2005)Does disclosure deter or trig…Litigation risk and IPO underpricing (2002)Litigation risk and IPO under…Auditor resignations: clientele effects and legal liability (2000)Auditor resignations: cliente…Why Firms Voluntarily Disclose Bad News (1994)Why Firms Voluntarily Disclos…The Reputational Penalty Firms Bear from Committing Criminal Fraud (1993)The Reputational Penalty Firm…The Shareholder Suit: Litigation without Foundation? (1991)The Shareholder Suit: Litigat…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Firm Resources and Sustained Competitive Advantage (1991)Firm resources and sustained competitive advantage (2004)Firm-Value Effects of Carbon Emissions and Carbon Disclosures (2013)The effect of pro-environmental preferences on bond prices: Evidence from green bonds (2018)The Importance of Climate Risks for Institutional Investors (2019)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Determinants of corporate borrowing (1977)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Back to the Beginning: Persistence and the Cross‐Section of Corporate Capital Structure (2008)Do Peer Firms Affect Corporate Financial Policy? (2013)… and the Cross-Section of Expected Returns (2015)Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test (1976)Disclosure of Nonproprietary Information (1985)The conservatism principle and the asymmetric timeliness of earnings1 (1997)The economic implications of corporate financial reporting (2005)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Agency costs of free cash flow, corporate finance, and takeovers (1996)Environmental Externalities and Cost of Capital (2014)Playing it safe? Managerial preferences, risk, and agency conflicts (2016)The Effects of Mandatory ESG Disclosure Around the World (2024)Auditor independence, ‘low balling’, and disclosure regulation (1981)Auditor size and audit quality (1981)Methodological Issues Related to the Estimation of Financial Distress Prediction Models (1984)Auditors' Governance Functions and Legal Environments: An International Investigation* (2007)Non‐audit Service Fees and Audit Quality: The Impact of Auditor Specialization (2007)Limited-dependent and qualitative variables in econometrics (1983)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The Role of Dissemination in Market Liquidity: Evidence from Firms' Use of Twitter™ (2013)Business sustainability performance and cost of equity capital (2015)Mandatory CSR and sustainability reporting: economic analysis and literature review (2021)Crime and Punishment: An Economic Approach (1968)The effect of capital structure on a firm's liquidation decision (1984)Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC* (1996)Who Blows the Whistle on Corporate Fraud? (2010)The Impact of Religion on Financial Reporting Irregularities (2011)Globalizing the boardroom—The effects of foreign directors on corporate governance and firm performance (2012)Legal Determinants of External Finance (1997)Law and Finance (1998)Corporate Ownership Around the World (1999)Capitalism with Chinese Characteristics (2008)Growing Like China (2011)The Fundamental Institutions of China's Reforms and Development (2011)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Robust Inference With Multiway Clustering (2011)Policy Uncertainty and Corporate Investment (2015)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 2005Law, finance, and economic growth in China4,481 cited
  • 2007Capital Structure Decisions: Which Factors Are Reliably Important?2,853 cited
  • 1994Why Firms Voluntarily Disclose Bad News2,435 cited
  • 2008Environmental risk management and the cost of capital1,519 cited
  • 2008The Cost to Firms of Cooking the Books1,315 cited
  • 2011Growing Out of Trouble? Corporate Responses to Liability Risk689 cited
  • 2005Does disclosure deter or trigger litigation?610 cited
  • 2000Auditor resignations: clientele effects and legal liability592 cited
  • 2009Access to Capital, Capital Structure, and the Funding of the Firm586 cited
  • 1993The Reputational Penalty Firms Bear from Committing Criminal Fraud555 cited
  • 2002Litigation risk and IPO underpricing485 cited
  • 2011Corporate Policies of Republican Managers427 cited
  • 2009Shareholder-Initiated Class Action Lawsuits: Shareholder Wealth Effects and Industry Spillovers421 cited
  • 1991

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The Shareholder Suit: Litigation without Foundation?
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