We use a machine learning technique to assess whether the thematic content of financial statement disclosures (labeled topic) is incrementally informative in predicting intentional misreporting. Using a Bayesian topic modeling algorithm, we determine and empirically quantify the topic content of...

We use a machine learning technique to assess whether the thematic content of financial statement disclosures (labeled topic) is incrementally informative in predicting intentional misreporting. Using a Bayesian topic modeling algorithm, we determine and empirically quantify the topic content of...

This paper argues that contracts induced by means of bribery should be valid. Nullity and voidability decrease the incentive for voluntary disclosure, assist corrupt actors with enforcing their bribe agreements and provide leeway for abuse. Thus, they run counter to effective anti-corruption. It...

This paper argues that contracts induced by means of bribery should be valid. Nullity and voidability decrease the incentive for voluntary disclosure, assist corrupt actors with enforcing their bribe agreements and provide leeway for abuse. Thus, they run counter to effective anti-corruption. It...

Using the staggered introduction of fast-track debt recovery courts in India, we estimate the causal effect of a reduction in debt contract enforcement costs on financing and asset maturity. A reduction in enforcement costs is associated with an increase in long-term debt and a decrease in...

In this paper, I assess the causal effects of judicial administration on a sample of Italian criminal firms in the period 2004-2016, to shed light on the dynamic path of the firm's performance from pre-seizure to the post-entry judicial administration phase. By using exogenous enforcement law...

We exploit staggered municipality-level anti-mafia enforcement actions over the 1995–2015 period in Italy to study the effect of organized crime on firms. Following anti-mafia enforcement actions, we find increases in competition among firms, innovation activity, and competition for public...

In this paper, I investigate whether prosecution under the Foreign Corrupt Practices Act (FCPA) affects the level of investment of targeted firms and their peers in the same industry. I find that peer firms decrease the level of their investment once they become aware of the opening of an FCPA...

The European Data Protection Board issued its first Binding Decision on 9 November 2020 in a case in which the Irish Data Commissioner (DPA) was lead enforcement authority. In the judgment of the Irish DPA, a fine of up to EUR 275,000 was appropriate, taking into account all relevant...

This paper puts into perspective enforcement as conducted by the French Financial Market Authority since its creation in 2003 until 2021 with regards to the current state of the literature on financial crimes. We survey exhaustively the three main channels of action: sanctions, settlements...