Legal institutions play an important role in affecting delay in settlement. But little research has investigated the institutional causes of delay. The empirical literature is ambiguous regarding the impact of trial-court delay on settlement delay. I analyze the timing of bargaining and the...

Litigation seems to be a Pareto-ineffcient outcome of pretrial bargaining; however, this paper shows that litigation can be the outcome of rational behavior by a litigant and her attorney. If the attorney has more information than his client concerning the characteristics of the lawsuit, the...

Colluding firms often exchange private information and make transfers within the cartels based on the information. Estimating the impact of such collusive practices" - known as the 'lysine strategy profile (LSP)" - on cartel duration is difficult because of endogeneity and omitted variable bias....

Purpose: This study aims to investigate the effects of family involvement in corporations on firm performance. It remains unclear whether family-owned companies, or companies with other forms of family involvement in the corporate governance, perform better than firms with no family...

Taking the agency theory perspective, we theoretically analyze and empirically explore whether the majority voting rule of director election significantly influences firm value. Investigating S&P 1,500 firms between 2007 and 2017, we predict and confirm that the majority voting rule positively...