The Internet-of-Things changes the manner humans encounter and interact with computers. The latter, taking the form of so-called smart objects, “disappear” into the environment. They are everywhere but they are not immediately noticeable. Smart objects are often equipped with transacting...

This study exploits the staggered adoption of the inevitable disclosure doctrine (IDD) by U.S. state courts as an exogenous shock that generates variations in the proprietary costs of disclosure. We find that firms respond to IDD adoption by reducing the level of disclosure regarding their...

This study exploits the staggered adoption of the inevitable disclosure doctrine (IDD) by U.S. state courts as an exogenous shock that generates variations in the proprietary costs of disclosure. We find that firms respond to IDD adoption by reducing the level of disclosure regarding their...

This study investigates the disclosure of patent knowledge. In the patent literature, patent disclosure is relatively understudied. By focusing on three patent views - signaling view, strategic power view, and litigation risk view, we investigate what factors enforce firms to disclose enabling...

This article examines the decision in Holmes v. Summer where the court held that a sellers broker "had a duty to disclose... liens before the buyers signed... [an] agreement." The article discusses the conflict between the duty of confidentiality and the new duty of disclosure to the other side

Data mining techniques can be used to locate statistical outliers that are incorrectly characterized as evidence of unlawful conduct. Using home mortgage loan data made publicly available by financial regulators, a simple data mining exercise finds that approximately three percent of all...

Encouraging inventors to disclose new inventions is an important economic justification for the patent system, yet the technical information contained in patent applications is often inadequate and unclear. This paper proposes a novel approach to measure disclosure in patent applications using...

I show that more comprehensive corporate disclosure reduces investors’ uncertainty about domestic companies’ payoffs at no cost, thereby decreasing investors’ equity home bias toward a country. Since investors should base their investment decisions on valid and easily interpretable company...

Extant research commonly uses indicator variables for industry membership to proxy for securities litigation risk. We provide evidence on the construct validity of this measure by reporting on the predictive ability of alternative models of litigation risk. While the industry measure alone does...

The internet has created challenges for regulators of financial markets unimagined over eighty years ago by drafters of the Securities and Exchange Acts. The recent explosion in internet use has provided many benefits for investors and publicly-traded companies. The Internet has been a boon to...