We employ a conditional event study to analyze managers' motives to announce a share repurchase in the context of a model of economic factors that impact a firm's abnormal announcement return. Firms with greater free cash flow and less debt are more likely to initiate a repurchase. Share...

We consider the importance of legal opportunism as an explanation for observed litigation following a large sample of initial public offerings (IPOs). We characterize legal opportunism as litigation based on the potential to recover losses after negative stock price developments rather than the...

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 that encourages institutional investors to serve as...

Employing a sample of 697 M&A offers for VC-backed IPO companies from 1996 to 2018, we find that takeover bids that occur in the presence of lead VCs command a higher initial premium and are less likely to be legally contested compared to bids for companies from which the lead VC has already...

This paper investigates whether shareholder class action litigation affects the takeover candidacy, premium, and completion rate of mergers and acquisitions involving defendant target firms. We use a comprehensive data set of publicly traded U.S. firms that became the targets of takeover bids...

We explain the determinants of corporate green investments (GI) by using a series of both firm- and country-level factors. Employing environmental expenditures as a proxy for green investments at the firm level, we find that larger firms tend to invest more in green projects, whereas firms that...

Part I: Introduction -- Chapter 1. Fintech and Sustainability: An Overview (Thomas Walker, Harry Turtle, Maher Kooli, and Elaheh Nikbakht) -- Part II: Fintech And Environmental Sustainability -- Chapter 2. Scaling Up Climate Finance Through Blockchain-Based Digital Green Bonds (Yushi Chen) --...