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 defendants suffer lower stock returns. We find that politically connected defendants are favored in the judicial...

Researchers who study crime and justice have been forecasting a variety of outcomes for nearly a century. Perhaps the most well known are forecasts of behavior after release from prison. Other examples include forecasts of prison populations and time trends in crime. However, it is very...