In the presence of litigation facing suppliers, the supply-chain relationship is at risk. Suppliers with principal customers (dependent suppliers) have a higher concentration of sales to customers, and they are more at risk relative to suppliers without principal customers (non-dependent...

This preliminary study examines whether the presence or absence of certain terms in a company's form contracts can reveal its level of litigation risk. First, I estimate the risk of independent contractor misclassification litigation for service-based “sharing economy” businesses by...

In a shadow insurance transaction, a life insurer purchases reinsurance from an affiliated company that is licensed as a captive insurer or Special Purpose Vehicle and is not an “authorized” reinsurer. Such transactions have been scrutinized in recent years by the Federal Insurance Office,...

Despite a longstanding debate over the pros and cons of imposing legal liability on directors and officers (D&Os), how D&O liability affects corporate innovation is rarely studied. We study this question by exploiting Nevada's 2001 corporate law change that dramatically lowered D&O legal...

A large number of systematic reviews and meta-analyses have been conducted in the field of forensic risk assessment, and their conclusions have occasionally been conflicting. To examine the quality and findings of these reviews, a metareview was conducted. The authors identified nine systematic...

I investigate how different legal regimes affect auditor's effort and investors' investment decisions when the auditor is subject to probability weighting and loss aversion, which are two important characteristics of Prospect Theory. Probability weighting encourages an auditor to overrate the...

Tentative Draft No. 1 of the American Law Institute's forthcoming Restatement of the Law of Liability Insurance is admirable in many important respects. However, proposed section 13 can be falsified in too many instances to serve as a meaningful statement of black letter law governing an...

The transformative potential of distributed ledger technology, especially in the financial sector, is attracting enormous interest. Many financial institutions are investing heavily in proof of concept demonstrations and the rollout of pilot applications of DLT technology. Part of the attraction...