kaal:claim:2629451-031

The market values N/DPA governance changes during the term because those changes effectively address the underlying corporate wrongdoing and its damage to goodwill and reputation while reducing the likelihood of continuing fines and litigation.

The market assesses the governance changes during the term of the N/DPA as beneficial for market value because it effectively addresses corporate wrongdoing and the associated negative effects on goodwill and reputation while lowering the likelihood of continuing fines and litigation.

Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015), VI. Discussion, p. 19
https://ssrn.com/abstract=2629451 · source PDF

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

• during the term of the N/DPA

mechanismsupport: arguedreputationlaw-and-legal-systemsrisk-and-incentivesgovernance-design

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Attestation record: colloquium/attestations/87b6079a3f6db94c...json
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