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 "identifier": "kaal:claim:2629451-019",
 "text": "The negative pricing of N/DPA firms immediately before the announcement reflects the market's negative assessment of the agreement and its associated fines, plausibly driven by uncertainty in the days before the announcement resolves it.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
 },
 "citation": "Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451",
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  "name": "Stock Price Response to Non- and Deferred Prosecution Agreements",
  "datePublished": "2015",
  "url": "https://ssrn.com/abstract=2629451",
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 "keywords": [
  "economics"
 ],
 "about": [
  "market-uncertainty",
  "pre-announcement",
  "fines",
  "investor-reaction"
 ],
 "abstract": "This data suggests that the market assesses the impact of the N/DPA and the often associated fines negatively immediately before the announcement of the N/DPA execution, which could be a function of market uncertainty before the N/DPA announcement.",
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