kaal:claim:2629451-006

Investors treat the expiration of an N/DPA term as a negative event for the firm.

Source quote, verbatim

Inversely, our results suggest that investors see the expiry of applicable N/DPA terms as a negative event.

From

Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015), I. Introduction, p. 4
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

end of N/DPA term date, ENDPAT
reduced sample of 59 firms where the end date fell on a trading day

Classification

empiricalsupport: evidencedgovernance-design

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/c600d419d1dbdb2f...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/2629451-006.md | sha256sum