{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/doj-enforcement",
 "identifier": "kaal:entity:doj-enforcement",
 "name": "Doj enforcement",
 "termCode": "doj-enforcement",
 "inDefinedTermSet": {
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 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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 "sha256": "eb668ec24902d6e09e4a608ee83c5d68104ed1f8ae77fc5c60c7f12c72a3b0e8",
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   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
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   "name": "claim_count",
   "value": 4
  },
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   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2015",
    "2015"
   ]
  },
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2629451-001",
   "identifier": "kaal:claim:2629451-001",
   "text": "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.",
   "abstract": "We document a significant and predictable positive stock price response to the DOJ press release and the start of the N/DPA term.",
   "citation": "Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451",
   "datePublished": "2015",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "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"
   ],
   "source_pdf_sha256": "507404d641abb922ab6d8e3a0b032e35ead2befd7b88746d09d178a8fa816957",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2629451-008",
   "identifier": "kaal:claim:2629451-008",
   "text": "Because N/DPAs are contractual arrangements between corporations and the Department of Justice that remedy identified governance shortcomings, it is the DOJ, rather than Congress or the courts, that is changing U.S. corporate governance practice.",
   "abstract": "As contractual arrangements between a corporation and the Department of Justice (DOJ), intended to remedy identified governance shortcomings, the DOJ – not Congress or the Courts - is changing governance practices in the United States (Garrett 2014, Kaal and Lacine 2014).",
   "citation": "Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451",
   "datePublished": "2015",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "United States, 1993 to 2015",
    "governance historically a matter of state law"
   ],
   "source_pdf_sha256": "507404d641abb922ab6d8e3a0b032e35ead2befd7b88746d09d178a8fa816957",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2629451-033",
   "identifier": "kaal:claim:2629451-033",
   "text": "Because the market reacts positively both to N/DPA announcements and to the governance improvements taking effect, the DOJ's escalation of N/DPA executions beginning in 2002 could be justified on market value grounds.",
   "abstract": "The positive market reaction to announcements of N/DPAs and to N/DPA governance improvements at the beginning of the N/DPA term suggest that the DOJ's increase in N/DPA executions, starting in 2002, could be justified.",
   "citation": "Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451",
   "datePublished": "2015",
   "claim_type": "normative",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "holds to the extent market reaction is an acceptable measure of policy value"
   ],
   "source_pdf_sha256": "507404d641abb922ab6d8e3a0b032e35ead2befd7b88746d09d178a8fa816957",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2629451-038",
   "identifier": "kaal:claim:2629451-038",
   "text": "The observed growth in N/DPA execution, especially since 2002, indicates that N/DPAs will continue to shape major U.S. corporations across a range of industries.",
   "abstract": "The trends observed suggest that N/DPAs will continue to play a role in major U.S. corporations in a variety of industries.",
   "citation": "Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451",
   "datePublished": "2015",
   "claim_type": "predictive",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "extrapolated from the 1993 to 2015 time series of 330 executed N/DPAs"
   ],
   "source_pdf_sha256": "507404d641abb922ab6d8e3a0b032e35ead2befd7b88746d09d178a8fa816957",
   "status": "current"
  }
 ],
 "description": "4 claims in the published works of Wulf A. Kaal carry the concept tag 'doj-enforcement'. Derived node: a roster, not an adjudicated definition."
}