According to the existing literature, institutional investors have a significant impact on the litigation risk of … publicly traded companies. This should be particularly true after the Private Securities Litigation Reform Act (PSLRA) of 1995 … horizon and ownership structure and find that both factors significantly affect a firm's litigation risk. Short …

not capture a complete picture of auditor liability, since the vast majority of audit litigation is resolved by attorneys … in out-of-court settlement without ever going to trial. Consistent with attribution theory, results from our first … experiment show that jurors hold auditors more responsible for misstatements of lower estimate uncertainty when the misstated …