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 "text": "The positive market reaction at announcement and at the start of the term is the market acknowledging that an N/DPA gives the firm an opportunity to be better managed, more compliant, and less exposed to penalties.",
 "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": [
  "compliance",
  "governance-design"
 ],
 "about": [
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 ],
 "abstract": "Consistent with Hypothesis 2, we interpret the positive market reaction at ANDPA and BNDPAT as the market's acknowledgement that the execution and effectiveness of an N/DPA is an opportunity for the entity to be better managed, more compliant, with fewer possibilities to incur penalties",
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