kaal:claim:2629451-001

Stock prices respond significantly and predictably in a positive direction to the DOJ press release announcing execution of a non- or deferred prosecution agreement and to the start of the N/DPA term.

Source quote, verbatim

We document a significant and predictable positive stock price response to the DOJ press release and the start of the N/DPA term.

From

Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015), Abstract, p. 2
https://ssrn.com/abstract=2629451 · source PDF

Cite as

Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451

Holds when

publicly traded U.S. firms that executed N/DPAs between 1993 and 2015
event windows measured around the DOJ press release date and the start date of the N/DPA term

Classification

empiricalsupport: evidencedeconomicsresearch-methodsgovernance-designcorporate-governancecompliance

Verify

The quote above is an exact substring of the source PDF, whose sha256 is 507404d641abb922ab6d8e3a0b032e35ead2befd7b88746d09d178a8fa816957. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/c1e2bce4b6d1f682...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/2629451-001.md | sha256sum