Research Question/Issue: We investigate outside director departures prior to management buyout offers (MBOs). In these transactions, managers have both an information advantage and incentives to make a lowball offer to shareholders. Outside directors can safeguard against managerial self-dealing...

Purpose – The purpose of this study is to suggest best practices for managing a successful Student Managed Investment Program (SMIP) based on the experience of the Marquette University’s Applied Investment Management (AIM) Program.Design/methodology/approach – We provide a detailed...

In this research project ("Using Artificial Intelligence and Machine Learning to Evaluate the Efficacy of the JOBS Act"), our goal is to create a dynamic database consisting of structured and unstructured data sets using artificial intelligence and machine learning techniques to gauge the...

Firms significantly modify their payout policy in anticipation of future litigation costs. We examine a comprehensive sample of U.S. corporate lawsuits and find that firms facing significant litigation risk pay lower dividends, and in some cases omit dividends while distributing more cash...

Purpose – The purpose of this study is to suggest best practices for managing a successful Student Managed Investment Program (SMIP) based on the experience of the Marquette University's Applied Investment Management (AIM) Program.Design/methodology/approach – We provide a detailed...

We examine whether litigation risk is systematically related to corporate tax avoidance. We find that the exogenous reduction in the threat of securities class action litigation due to the 1999 ruling of the Ninth Circuit Court of Appeals effectively increases corporate tax avoidance, which is...

Since the 2008 financial crisis, executive compensation has been the subject of increased regulation, including the mandatory adoption of compensation clawback policies by the Dodd Frank Act. By allowing firms to recoup compensation from managers who breach their fiduciary duty, clawbacks...