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Investment Treaties as Corporate Law : Shareholder Claims and Issues of Consistency
Gaukrodger, David - 2013
Claims by company shareholders seeking damages from governments for so-called "reflective loss" now make up a … substantial part of the investor-state dispute settlement (ISDS) caseload. (Shareholders' reflective loss is incurred as a result … systems of national corporate law (and other international law). ISDS arbitrators have consistently found that shareholders …
Persistent link: https://www.econbiz.de/10013072987
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CEO Networks and Shareholder Litigation
McCumber, William R. - 2020
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...
Persistent link: https://www.econbiz.de/10012847310
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Financial Industry Lobbying and Shareholder Litigation Outcomes : Implications for Managers and Regulators
Unsal, Omer; Hassan, M. Kabir; Hippler, Will - 2022
We examine the relationship between financial firm corporate lobbying, shareholder-based litigation outcomes, and firm value. We show that political lobbying lowers federal class action securities litigation likelihood for public financial institutions. Secondly, lobbying firms experience a...
Persistent link: https://www.econbiz.de/10013406080
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Takeovers, Shareholder Litigation, and the Free-Riding Problem
Broere, Mark - 2019
When shareholders of a target firm expect a value improving takeover to be successful, they are individually better off …-riding dilemma by allowing a buyer to enforce a payout of minority shareholders and seize complete control of the target firm …
Persistent link: https://www.econbiz.de/10012889313
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The Need to Validate Exogenous Shocks : Shareholder Derivative Litigation, Universal Demand Laws and Financial Reporting Decisions
Donelson, Dain C. - 2020
This study examines how universal demand (UD) laws affect shareholder derivative litigation risk and financial … reporting decisions. We provide evidence that the incremental risk from derivative litigation beyond parallel securities class … impact on derivative litigation from 1996-2015. We also find no evidence that UD laws change accounting or voluntary …
Persistent link: https://www.econbiz.de/10012825192
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Shareholder Litigation Risk and Its Effect on a Firm's Cash, Investment, and Debt
Talijan, Vuk - 2017
Shareholder litigation risk varies across time and across firms. When shareholder litigation risk is high, it can increase (decrease) a firm's cash and investment before (after) a lawsuit filing. When shareholder litigation risk is low, little to no impact occurs. A quasi-natural experiment...
Persistent link: https://www.econbiz.de/10012968812
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Surviving Mauritius : The Continued Vitality of Shareholder Class Actions
Feltham, J. - 2014
Persistent link: https://www.econbiz.de/10013050834
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Disclosure Strategies and Shareholder Litigation Risk
Furchtgott, Michael - 2015
Using a large set of restatement announcements and regulatory filings by U.S.-listed firms between 2003 and 2009, we find evidence that managers aim to reduce litigation risk by (1) bundling negative information, such as earnings restatements, with other public announcements, and (2) leaking...
Persistent link: https://www.econbiz.de/10013025521
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The Effect of Shareholder Scrutiny on Corporate Tax Behavior : Evidence from Shareholder Tax Litigation
Donelson, Dain C.; Glenn, Jennifer L.; McGuire, Sean T.; … - 2021
This study examines the effect of shareholder scrutiny of tax issues on corporate tax behavior. Specifically, we examine the factors associated with receiving shareholder tax litigation and the effect of such litigation on the future tax behavior of both the sued firm and its peers. We find...
Persistent link: https://www.econbiz.de/10013215445