This paper proposes neither a critique nor a review of the 2010 Supreme Court decision in Citizens United v. Federal Election Commission. Rather, this paper acknowledges that the Supreme Court has spoken on the issue of corporate First Amendment rights in the context of independent expenditures...

Securities selection attempts to distinguish prospective winners from losers conditional on beliefs and available information. This article surveys relevant academic research on this subject, including work about the combining of forecasts (Bates and Granger 1969), the Black-Litterman model...

Qualitative disclosure accompanying an earnings release is incrementally informative to earnings news (i.e., it is an information substitute for earnings) and it reflects the information content of earnings news (i.e., it is an information complement to earnings). When management provides...

In 1984, in 1990 and in 2005 Congress passed laws exempting certain financial contracts from the standard provisions of the bankruptcy code. In each case, the effect of the law was to protect collateral securing the contract from those provisions of the bankruptcy code that allow a judge to...

Because corporate charters can be amended only with shareholder approval, it is widely believed that new charter provisions appear in midstream only if shareholders favor them. However, the approval requirement may fail to prevent the adoption of charter provisions disfavored by shareholders if...

Literature on agency problems arising between controlling and minority owners claim that separation of cash flow and control rights allows controllers to expropriate listed firms, and further that separation emerges when dual class shares or pyramiding corporate structures exist. Dual class...