We investigate whether board independent directors mitigate firm’s securities litigation risks. We further analyze this inquiry with special attention to firm’s complexity, monitoring costs, and the relative benefits and costs of board independence. Separate and combined analyses of these...

This paper examines the effects of executive compensation and potential for earnings management on the incidence of shareholder class action lawsuits and their outcomes. Although damage measurement factors,managerial option intensity, and earnings management all significantly affect the...

This paper documents that firms led by Chief Executive Officers (CEOs) with greater network power and influence are more likely to be subject to securities class action (SCA) lawsuits, and that these lawsuits are more likely to led by institutional investors. Firms with more connected CEOs are...