We consider the importance of legal opportunism as an explanation for observed litigation following a large sample of initial public offerings (IPOs). We characterize legal opportunism as litigation based on the potential to recover losses after negative stock price developments rather than the...

This study examines whether and how family ownership enhances or damages firm value using a sample of Canadian companies listed on the Toronto Stock Exchange (TSX) between 1999 and 2007. Our results suggest that family companies are generally superior to non-family companies. In addition, we...

We employ a conditional event study to analyze managers' motives to announce a share repurchase in the context of a model of economic factors that impact a firm's abnormal announcement return. Firms with greater free cash flow and less debt are more likely to initiate a repurchase. Share...

Legal liability claims against airlines and airplane manufacturers following an aviation disaster are determined through a myriad of international treaties, intercarrier agreements, and federal and state laws. Which law applies in a specific situation depends on various circumstances surrounding...