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Some additional evidence on the comparative effect of income, regulation, and other variables on the demand for lawyers is called for. One objective of this paper is to investigate the speed of adjustment of law schools to shifts in the demand for lawyers. Section I presents a theoretical model...
Persistent link: https://www.econbiz.de/10012478971
We study the sources of match-specific value at large American law firms by analyzing how graduates of law schools group into law firms. We measure the degree to which lawyers from certain schools concentrate within firms and then analyze how this agglomeration can be explained by "natural...
Persistent link: https://www.econbiz.de/10012460040
differential between violent crime cases with female versus male victims. The inclusion of women also increased the likelihood of …
Persistent link: https://www.econbiz.de/10012456696
role in the dramatic decline in crime during the 1990s. Criminologists largely dismiss the association because simple plots … of age-specific crime rates are inconsistent with a large cohort affect following the legalization of abortion …
Persistent link: https://www.econbiz.de/10012463552
This paper is the introductory chapter for the forthcoming NBER volume Controlling Crime: Strategies and Tradeoffs. The … crime drop can be sustained. State and local revenue shortfalls have engendered intense interest in cost-cutting measures … justice allocations and policies appear to be inefficient - more crime control could be accomplished with fewer resources. The …
Persistent link: https://www.econbiz.de/10012462144
Outside directors have incentives to resign to protect their reputation or to avoid an increase in their workload when they anticipate that the firm on whose board they sit will perform poorly or disclose adverse news. We call these incentives the dark side of outside directors. We find strong...
Persistent link: https://www.econbiz.de/10012462735
We evaluate the net benefits of the Sarbanes-Oxley Act (SOX) for shareholders by studying the lobbying behavior of investors and corporate insiders to affect the final implemented rules under the Act. Investors lobbied overwhelmingly in favor of strict implementation of SOX, while corporate...
Persistent link: https://www.econbiz.de/10012465704
What external control mechanisms are most effective in detecting corporate fraud? To address this question we study in depth all reported cases of corporate fraud in companies with more than 750 million dollars in assets between 1996 and 2004. We find that fraud detection does not rely on one...
Persistent link: https://www.econbiz.de/10012465774
We find that a firm's tendency to engage in financial misconduct increases with the misconduct rates of neighboring firms. This appears to be caused by peer effects, rather than exogenous shocks like regional variation in enforcement. Effects are stronger among firms of comparable size, and...
Persistent link: https://www.econbiz.de/10012458320
We show that firms with CEOs who personally benefitted from options backdating were more likely to engage in other forms of corporate misbehavior, suggestive of an unethical corporate culture. These firms were more likely to overstate firm profitability and to engage in less profitable...
Persistent link: https://www.econbiz.de/10012459399