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The Tragedy of “The Tragedy of the Commons”: Hardin versus the Property Rights Theorists The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Jonathan M. Karpoff
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Learning by Regulating: The Evolution of Wind Energy Zoning Laws The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Justin B. Winikoff
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Organizations with Power-Hungry Agents The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Wouter Dessein,Richard Holden
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Collectivist Cultures and the Emergence of Family Firms The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Joseph P. H. Fan,Qiankun Gu,Xin Yu
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Property Rights and Urban Form The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Simeon Djankov,Edward Glaeser,Valeria Perotti,Andrei Shleifer
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The Economics of Radiator Springs: Dynamics, Sunk Costs, and Spatial Demand Shifts The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Jeffrey R. Campbell,Thomas N. Hubbard
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Price Benchmark Regulation of Multiproduct Firms: An Application to the Rail Industry The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Wesley W. Wilson,Frank A. Wolak
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Property Rights to Land and Agricultural Organization: An Argentina–United States Comparison The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Eric C. Edwards,Martin Fiszbein,Gary D. Libecap
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The Effects of Government Licensing on E-commerce: Evidence from Alibaba The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Ginger Zhe Jin,Zhentong Lu,Xiaolu Zhou,Chunxiao Li
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Productivity, Prices, and Concentration in Manufacturing: A Demsetzian Perspective The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-02 Sam Peltzman
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Enforceability of Noncompetition Agreements and Forced Turnovers of Chief Executive Officers The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-01 Yupeng Lin,Florian Peters,Hojun Seo
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Gender Favoritism among Criminal Prosecutors The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-01 Stephanie Holmes Didwania
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Franchise Contract Regulations and Local Market Structure The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-01 Charles Murry,Peter Newberry
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Development Derailed: Policy Uncertainty and Coordinated Investment The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-01 Eric Alston,Steven M. Smith
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Fee-Shifting Bylaws: An Empirical Analysis The Journal of Law and Economics (IF 2.2) Pub Date : 2022-02-01 Jens Dammann
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The Deterrence Effect of Whistleblowing The Journal of Law and Economics (IF 2.2) Pub Date : 2021-11-01 Niels Johannesen,Tim B.M. Stolper
We document that the first leak of customer information from a tax-haven bank caused a sudden flight of deposits from tax havens and a sharp decrease in the market value of banks known to be assisting with tax evasion. The loss of market value was largest for the banks most strongly involved in tax evasion. Subsequent leaks had qualitatively similar although smaller effects. Our findings suggest that
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The Unintended Effects of Ban-the-Box Laws on Crime The Journal of Law and Economics (IF 2.2) Pub Date : 2021-11-01 Joseph J. Sabia,Thanh Tam Nguyen,Taylor Mackay,Dhaval Dave
Ban-the-box (BTB) laws, which prevent employers from asking prospective employees about their criminal histories at initial job screenings, are intended to increase employment opportunities and reduce incentives for crime. This study is the first to comprehensively explore the relationship between BTB laws and arrests. Using data from the National Incident-Based Reporting System, we find that BTB laws
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The Aggregate Cost of Crime in the United States The Journal of Law and Economics (IF 2.2) Pub Date : 2021-11-01 David A. Anderson
Estimates of crime’s burden inform public and private decisions about crime-prevention measures. More than counts of criminal offenses, the aggregate cost of crime conveys the scale of problems from crime and the value of deterrence. This article offers an estimate of the total annual cost of crime in the United States, including the direct costs of law enforcement, criminal justice, and victims’ losses
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The Impacts of the Lifeline Subsidy on High-Speed Internet Access The Journal of Law and Economics (IF 2.2) Pub Date : 2021-11-01 Samara Mendez,Gabor Molnar,Scott J. Savage
This paper evaluates the impacts of the Lifeline subsidy on high-speed Internet prices, demand, and welfare. Results show that low-income households would require large price reductions to subscribe to basic broadband. Simulations of competition between cable and telephone firms show that the $9.25 subsidy lowers the prices for low-quality plans and incentivizes about 6 percent of low-income households
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Who Benefits from Bans on Employers’ Credit Checks? The Journal of Law and Economics (IF 2.2) Pub Date : 2021-11-01 Leora Friedberg,Richard M. Hynes,Nathaniel Pattison
Several US states ban employers’ use of credit reports in hiring decisions. This paper evaluates whether these bans help financially distressed individuals find employment. We use the Survey of Income and Program Participation to identify individuals likely to directly benefit: unemployed individuals with recent trouble meeting expenses. Exploiting the staggered passage of state laws, we find that
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Meet the Oligarchs: Business Legitimacy and Taxation at the Top The Journal of Law and Economics (IF 2.2) Pub Date : 2021-11-01 Rafael Di Tella,Juan Dubra,Alejandro Lagomarsino
We study the causal impact of trust in business elites and trust in government on preferences for taxation at the top. Using new survey data, we find that distrust causes an increase in desired taxes on the top 1 percent. For example, our distrust-in-business-elites treatment leads to an increase in desired taxes on the top 1 percent of 2.4 percentage points (it closes 27 percent of the Democrat-Republican
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Coordinated Effects in Merger Review The Journal of Law and Economics (IF 2.2) Pub Date : 2021-11-01 Simon Loertscher,Leslie M. Marx
Coordinated effects are merger-related harms that arise because a subset of postmerger firms modify their conduct to limit competition among themselves, particularly in ways other than explicit collusion. We provide a measure of the risk of such conduct by examining the individual rationality of participation by subsets of firms in market allocation schemes. This measure of risk for coordinated effects
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Jobs for Justice(s): Corruption in the Supreme Court of India The Journal of Law and Economics (IF 2.2) Pub Date : 2021-08-01 Madhav S. Aney,Shubhankar Dam,Giovanni Ko
We investigate whether judicial decisions are affected by career concerns of judges by analyzing two questions: Do judges respond to incentives to pander by ruling in favor of the government in the hope of receiving jobs after retiring from the Supreme Court? Does the government reward judges who rule in its favor with prestigious jobs? We construct a data set of Supreme Court of India cases involving
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The Effect of Own-Gender Jurors on Conviction Rates The Journal of Law and Economics (IF 2.2) Pub Date : 2021-08-01 Mark Hoekstra,Brittany Street
Despite concerns about gender bias in general and jurors’ gender in particular, little is known about the effect of jurors’ gender on conviction rates. We identify the effect of own-gender jurors by exploiting random variation in the assignment to and ordering of jury pools in two large Florida counties. Results indicate that own-gender jurors are significantly less likely to convict on drug charges
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Platform Competition, Vertical Differentiation, and Price Coherence The Journal of Law and Economics (IF 2.2) Pub Date : 2021-08-01 Heiko Gerlach,Junqian Li
This paper analyzes merchants’ price coherence in two-sided markets with vertically differentiated platforms. When merchants are unable to charge different prices to consumers who purchase their products using different platforms, fee competition among platforms becomes more intense on both sides of the market. We show that with unrestricted prices, platforms compete for market share, while with price
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Intended and Unintended Effects of Banning Menthol Cigarettes The Journal of Law and Economics (IF 2.2) Pub Date : 2021-08-01 Christopher S. Carpenter,Hai V. Nguyen
Bans on menthol cigarettes have been adopted throughout the European Union, proposed by the US Food and Drug Administration, and enacted by legislatures in Massachusetts and California. Yet there is very limited evidence on their effects using real-world policy variation. We study the intended and unintended effects of menthol cigarette bans in Canada, where seven provinces banned them prior to a nationwide
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Does Media Coverage Cause Meritorious Shareholder Litigation? Evidence from the Stock Option Backdating Scandal The Journal of Law and Economics (IF 2.2) Pub Date : 2021-08-01 Dain C. Donelson,Antonis Kartapanis,Christopher G. Yust
This study examines the role of media coverage in meritorious shareholder litigation. Asserting a causal effect of the media on litigation is normally difficult because of the endogenous nature of media coverage. However, we use the Wall Street Journal’s coverage of stock option backdating to overcome these issues. Using a matched sample of firms with similar probabilities of backdating and related
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Governments’ Late Payments and Firms’ Survival: Evidence from the European Union The Journal of Law and Economics (IF 2.2) Pub Date : 2021-08-01 Maurizio Conti,Leandro Elia,Antonella Rita Ferrara,Massimiliano Ferraresi
Outstanding payments in commercial transactions, if delayed beyond the agreed period of time, can engender a range of negative externalities and expose firms to severe liquidity risks. In this study we examine to what extent stricter regulations addressing payment backlogs, brought about by the EU directive on late payments, have affected firms’ performance. We focus on government-to-business activities
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Did the Independence of Judges Reduce Legal Development in England, 1600–1800? The Journal of Law and Economics (IF 2.2) Pub Date : 2021-08-01 Peter Murrell
Conventional wisdom confers iconic status on the clause of England’s Act of Settlement (1701) mandating secure tenure for judges. This paper uses new databases of judges’ biographies and citations to estimate how the move to secure tenure affected the number of citations to judges’ decisions, a measure of the quality of decisions. Several strategies facilitate identification of the effect of secure
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How Do Inventors Respond to Financial Incentives? Evidence from Unanticipated Court Decisions on Employees’ Inventions in Japan The Journal of Law and Economics (IF 2.2) Pub Date : 2021-05-01 Koichiro Onishi,Hideo Owan,Sadao Nagaoka
We use a novel panel data set of corporate inventors matched with their employers in Japan to examine the effects of output-based financial incentives on corporate inventors’ performance. We exploit heterogeneous industry responses to Japanese court decisions that forced Japanese firms to introduce stronger incentives. We show, first, that only industries facing a high risk of employee-inventor lawsuits
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Do Courts Matter for Firm Value? Evidence from the US Court System The Journal of Law and Economics (IF 2.2) Pub Date : 2021-05-01 Stefano Colonnello,Christoph Herpfer
We estimate how US state courts impact firm value by exploiting a US Supreme Court ruling that exogenously changed firms’ exposure to different courts. We find that increased exposure to more business-friendly courts is associated with positive announcement returns. We find no such association for objective court quality. Consistent with the ruling impacting firm value through the legal environment
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Post-Initial-Public-Offering Takeovers of Firms Controlled by Private Equity: Is There Evidence of a Liquidity Conflict? The Journal of Law and Economics (IF 2.2) Pub Date : 2021-05-01 Myron B. Slovin,Marie E. Sushka,Qi Dong
We analyze third-party takeovers of listed firms in which private-equity sponsors retained substantial post-initial-public-offering block holdings. Targets obtain large gains in shareholder wealth that are shared pro rata between sponsors and other shareholders, even though Delaware law allows differential premiums for block holders. Targets’ gains are positively related to the size of sponsors’ holdings
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Do Legal Origins Predict Legal Substance? The Journal of Law and Economics (IF 2.2) Pub Date : 2021-05-01 Anu Bradford,Yun-chien Chang,Adam Chilton,Nuno Garoupa
There is a large body of research in economics and law suggesting that the legal origin of a country—that is, whether its legal regime is based on English common law or French, German, or Nordic civil law—profoundly impacts a range of outcomes. However, the exact relationship between legal origin and legal substance has been disputed in the literature and not fully explored with nuanced legal coding
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Racial Bias and In-Group Bias in Virtual Reality Courtrooms The Journal of Law and Economics (IF 2.2) Pub Date : 2021-05-01 Samantha Bielen,Wim Marneffe,Naci Mocan
We filmed videos of criminal trials using three-dimensional virtual reality (VR) technology, prosecuted by actual prosecutors and defended by actual defense attorneys in a real courtroom. This is the first paper that utilizes VR technology in a non-computer-animated setting. We alter only the race of the defendants, holding all activity in the courtroom constant, to create arguably perfect counterfactuals
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The Effects of Land Redistribution: Evidence from the French Revolution The Journal of Law and Economics (IF 2.2) Pub Date : 2021-05-01 Theresa Finley,Raphaël Franck,Noel D. Johnson
This study exploits the confiscation and auctioning off of Catholic Church property that occurred during the French Revolution to assess the role played by transaction costs in delaying the reallocation of property rights in the aftermath of fundamental institutional reform. French districts with a greater proportion of land redistributed during the Revolution experienced higher levels of agricultural
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Can Shareholder Proposals Hurt Shareholders? Evidence from Securities and Exchange Commission No-Action-Letter Decisions The Journal of Law and Economics (IF 2.2) Pub Date : 2021-02-01 John G. Matsusaka,Oguzhan Ozbas,Irene Yi
This paper studies Securities and Exchange Commission (SEC) no-action-letter decisions that determine whether companies can exclude shareholder proposals from their proxy statements. During 2007–19, the market reacted positively when the SEC permitted exclusion, which suggests that investors viewed those proposals as value reducing on average. We also find that a company’s stock price decreased over
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Culture and Compliance: Evidence from the European Union Emissions Trading Scheme The Journal of Law and Economics (IF 2.2) Pub Date : 2021-02-01 Ara Jo
I study the role of culture in firms’ compliance decisions in the context of the EU Emissions Trading Scheme, an international regulation implemented in multiple countries with different levels of cultural indicators. To probe causality, I look within countries and exploit the differences in the locations of central headquarters of multinational firms. Using trust as a main cultural indicator, this
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Marriage Equality Laws and Youth Mental Health The Journal of Law and Economics (IF 2.2) Pub Date : 2021-02-01 D. Mark Anderson,Kyutaro Matsuzawa,Joseph J. Sabia
Since the landmark ruling in Goodridge v. Department of Public Health in 2004, the legalization of same-sex marriage (SSM) has proliferated throughout the United States via either legislative action or court order. Advocates of SSM laws argue that marriage equality will generate important health benefits not only for adult same-sex couples but also for lesbian, gay, bisexual, and questioning (LGBQ)
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Noncompete Agreements in the US Labor Force The Journal of Law and Economics (IF 2.2) Pub Date : 2021-02-01 Evan P. Starr,J.J. Prescott,Norman D. Bishara
Using nationally representative survey data on 11,505 labor force participants, we examine the use and implementation of noncompete agreements and the employee outcomes associated with these provisions. Approximately 18 percent of labor force participants are bound by noncompetes, with 38 percent having agreed to at least one in the past. Noncompetes are more likely to be found in high-skill, high-paying
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Ban-the-Box Measures Help High-Crime Neighborhoods The Journal of Law and Economics (IF 2.2) Pub Date : 2021-02-01 Daniel Shoag,Stan Veuger
Many localities have in recent years regulated the use of questions about criminal history in hiring, or “banned the box.” We show that these regulations increased employment of residents in high-crime neighborhoods by up to 4 percent, consistent with the central objective of these measures. This effect can be seen in both aggregate employment patterns for high-crime neighborhoods and commuting patterns
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Litigation Risk and Debt Contracting: Evidence from a Natural Experiment The Journal of Law and Economics (IF 2.2) Pub Date : 2020-11-01 Zhihong Chen,Ningzhong Li,Jianghua Shen
In June 2001, Nevada changed its state corporate law by substantially reducing the legal liability of directors and officers for breaching fiduciary duties owed to the corporation. We examine the impact of the reduced litigation risk caused by this legislative change on Nevada-incorporated firms’ loan contract terms and related borrower-lender agency conflicts. Using a difference-in-differences analysis
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Does Market Power Encourage or Discourage Investment? Evidence from the Hospital Market The Journal of Law and Economics (IF 2.2) Pub Date : 2020-11-01 Elena Patel,Nathan Seegert
Does market power encourage or discourage investment? This is an open question due to theoretical ambiguity and empirical difficulties. The answer is particularly important in the hospital market, where market power has increased dramatically since the 1990s. To answer this, we exploit an investment tax shock and data on the universe of US hospitals. We find a negative relationship between competition
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Platform, Anonymity, and Illegal Actors: Evidence of Whac-a-Mole Enforcement from Airbnb The Journal of Law and Economics (IF 2.2) Pub Date : 2020-11-01 Jian Jia,Liad Wagman
Airbnb, a prominent sharing-economy platform, offers dwellings for short-term rent. Despite restrictions, some sellers illegally offer their accommodations, taking advantage of a degree of anonymity proffered by the platform to hide from potential enforcement. We study the extent to which enforcement works in Manhattan, one of the most active short-term rental markets, by testing the effects of two
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Does Vertical Integration Spur Investment? Casting Actors to Discover Stars during the Hollywood Studio Era The Journal of Law and Economics (IF 2.2) Pub Date : 2020-11-01 F. Andrew Hanssen,Alexander Raskovich
The Hollywood studio era of the 1930s and 1940s was remarkable for its abundance of glamorous stars. In this paper, we investigate whether the vertical structure of the Hollywood studios, by ensuring studios’ claims to “star capital,” spurred higher levels of investment in discovering stars than was (or is) achievable under alternate regimes (such as today’s film-by-film contracting). The vertical
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Do Appraisal Challenges Benefit Target Shareholders through Narrowing Arbitrage Spread? A Reply The Journal of Law and Economics (IF 2.2) Pub Date : 2020-11-01 Audra Boone,Brian Broughman,Antonio J. Macias
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Do Appraisal Challenges Benefit Target Shareholders through Narrowing Arbitrage Spread? The Journal of Law and Economics (IF 2.2) Pub Date : 2020-11-01 Gaurav Jetley,Yuxiao Huang
There is an ongoing debate regarding the extent to which the increased appraisal litigation in the Delaware Chancery Court is beneficial from a public policy perspective. In a recent issue of the Journal of Law and Economics, Boone, Broughman, and Macias document that, compared with deals without appraisal challenges, deals subject to appraisal challenges have a 6-percentage-point lower postannouncement
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The Effects of Time in Prison and Time on Parole on Recidivism The Journal of Law and Economics (IF 2.2) Pub Date : 2020-11-01 Mariyana Zapryanova
In the United States, every year roughly 600,000 people are released from prison, two-thirds of them without having served their full sentence behind bars. Yet little is known about how release before full completion of sentence affects recidivism. I exploit the distinction between sentence and time served in prison to better understand how custodial and noncustodial sanctions affect recidivism. In
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Industry Concentration and Information Technology The Journal of Law and Economics (IF 2.2) Pub Date : 2020-08-01 James Bessen
Industry concentration has been rising in the United States since 1980. Does this signal declining competition and the need for a new antitrust policy? Or are other factors causing concentration to increase? This paper explores the role of proprietary information technology (IT), which could increase the productivity of top firms relative to others and raise their market share. Instrumental variable
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Asset Exemptions and Consumer Bankruptcies: Evidence from Individual Filings The Journal of Law and Economics (IF 2.2) Pub Date : 2020-08-01 Nathaniel Pattison,Richard M. Hynes
Combining case-level data on all consumer bankruptcies in the last decade with changes in states’ homestead exemptions, we estimate how exemptions affect the number and composition of bankruptcy filers. Exemption increases are followed by immediate and persistent rises in Chapter 7 filings by debtors with home equity. The new filers have more home equity but similar nonhousing wealth and lower incomes
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Loyalty Shares with Tenure Voting: Does the Default Rule Matter? Evidence from the Loi Florange Experiment The Journal of Law and Economics (IF 2.2) Pub Date : 2020-08-01 Marco Becht,Yuliya Kamisarenka,Anete Pajuste
The contractual theory of the firm predicts that companies adopt charters that maximize firms’ value regardless of the default rule. We test this proposition around an exogenous switch of the default from a one-share-one-vote regime to tenure voting following a legal reform in France. In initial public offerings (IPOs), tenure voting is primarily adopted by families, and after the reform its use increased
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Creditors’ Rights and Strategic Default: Evidence from India The Journal of Law and Economics (IF 2.2) Pub Date : 2020-08-01 Prasanna Tantri
I examine whether stronger creditors’ rights prevent strategic default. Borrowers who cross either of two thresholds are exempt from a creditor-rights law in India. Using a loan-day-level data set, I find that loan performance is better when the law applies and that outperformance increases after a further rise in creditors’ rights. To discern the strategic motive, I use an unprecedented invalidation
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Financial Reporting Frequency and Corporate Innovation The Journal of Law and Economics (IF 2.2) Pub Date : 2020-08-01 Renhui Fu,Arthur Kraft,Xuan Tian,Huai Zhang,Luo Zuo
We examine how the regulation of financial reporting frequency affects corporate innovation. We use a difference-in-differences approach based on a sample of treatment firms that experience a change in their reporting frequency and matched industry peers and control firms whose reporting frequency remains unchanged. We find that higher reporting frequency significantly reduces treatment firms’ innovation
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The Effects of Stolen-Goods Markets on Crime: Pawnshops, Property Theft, and the Gold Rush of the 2000s The Journal of Law and Economics (IF 2.2) Pub Date : 2020-08-01 Rocco d’Este
This paper investigates the effects of stolen-goods markets on crime. I focus on pawnshops, a legitimate business often associated with the illicit trade of stolen property. Within-county estimates reveal that a 10 percent increase in the rate of pawnshops increases, by around .3 percent, the rate of acquisitive crimes that yield stolen goods that might be tradeable to pawnshops. A quasi-experimental
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The Changing Landscape of Auditors’ Liability The Journal of Law and Economics (IF 2.2) Pub Date : 2020-05-01 Colleen Honigsberg, Shivaram Rajgopal, Suraj Srinivasan
We provide a comprehensive overview of shareholder litigation against auditors since the passage of the Private Securities Litigation Reform Act. The number of lawsuits per year has declined, dismissals have increased, and settlements in recent years have declined. Our study asks why. Tests indicate that the decline cannot be attributed solely to increases in audit quality, leading us to consider whether
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What Can DNA Exonerations Tell Us about Racial Differences in Wrongful-Conviction Rates? The Journal of Law and Economics (IF 2.2) Pub Date : 2020-05-01 David Bjerk, Eric Helland
We show that data on DNA exonerations can be informative about racial differences in wrongful-conviction rates under some assumptions regarding the DNA-exoneration process. We argue that, with respect to rape cases, the observed data and the plausibility of the required assumptions combine to strongly suggest that the wrongful-conviction rate is significantly higher among black convicts than white
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The Distribution of Surplus in the US Pharmaceutical Industry: Evidence from Paragraph iv Patent-Litigation Decisions The Journal of Law and Economics (IF 2.2) Pub Date : 2020-05-01 Ruben Jacobo-Rubio, John L. Turner, Jonathan W. Williams
In paragraph iv pharmaceutical cases, a patent-litigation decision often determines whether a brand-firm monopoly continues or generic entry occurs. Using unique patent-litigation data and an event-study approach that accounts for probabilistic district court decisions and an appellate process, we estimate that brand-firm stakes in such cases average $4.3 billion while generic-firm stakes average $204
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Affirmative Action and Racial Segregation The Journal of Law and Economics (IF 2.2) Pub Date : 2020-05-01 Peter Hinrichs
Prior research suggests that statewide affirmative action bans reduce minority enrollment at selective colleges while leaving the overall college enrollment of minorities unchanged. However, the effect of these bans on across-college racial segregation has not yet been estimated. This effect is theoretically ambiguous because of a U-shaped relationship across colleges between minority enrollment and
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Race and Bankruptcy: Explaining Racial Disparities in Consumer Bankruptcy The Journal of Law and Economics (IF 2.2) Pub Date : 2020-05-01 Edward R. Morrison, Belisa Pang, Antoine Uettwiller
African American bankruptcy filers select Chapter 13 far more often than other debtors, who opt instead for Chapter 7, which has higher success rates and lower attorneys’ fees. Prior scholarship blames racial discrimination by attorneys. We propose an alternative explanation: Chapter 13 offers benefits, including retention of cars and driver’s licenses, that are more valuable to African American debtors
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The Persistence of the Criminal Justice Gender Gap: Evidence from 200 Years of Judicial Decisions The Journal of Law and Economics (IF 2.2) Pub Date : 2020-05-01 Anna Bindler, Randi Hjalmarsson
We document persistent gender gaps favoring females in jury convictions and judges’ sentences in nearly 200 years of London trials, which are unexplained by case characteristics. We find that three sharp changes in punishment severity locally affected the size and nature of the gaps but were generally not strong enough to offset their persistence. These local effects suggest a mechanism of preference-based
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Do Public-Private-Partnership-Enabling Laws Increase Private Investment in Transportation Infrastructure? The Journal of Law and Economics (IF 2.2) Pub Date : 2020-02-01 Daniel Albalate, Germà Bel, R. Richard Geddes
The use of public-private partnerships (PPPs) is an important development in infrastructure delivery. These contracts between a public-sector owner and a private provider bundle delivery services and provide a middle ground between traditional delivery and privatization. As of 2016, 35 states had enacted PPP-enabling laws that address such questions as the mixing of public- and private-sector funds