Scandals

Theft and Taxes

Legal Personhood and Liability for Flawed Corporate Cultures

A number of recent corporate law scandals (including the Wells Fargo fraudulent accounts scandal, the Volkswagen emissions scandal, sexual...

Liability for Transnational Securities Fraud, Quo Vadis?

This Chapter evaluates the state of affairs with regard to liability for transnational securities fraud in the post-Morrison era, to find that it is in a...

Governance of Financial Services Outsourcing: Managing Misconduct and Third-Party Risks

With financial institutions increasingly outsourcing their activities, they face a record number of fraud and misconduct cases arising from...

Putting Integrity into Finance: A Purely Positive Approach

The seemingly never ending scandals in the world of finance with their damaging effects on value and human welfare argue strongly for an addition to the...

Corruption-related disclosure in the banking industry: Evidence from GIPSI countries

This paper empirically investigates corruption-related disclosure in the banking industry, aiming to identify the most relevant theories which...

Financial Scandals and the Role of Private Enforcement: The Parmalat Case

Insider Trading Laws and Stock Price Informativeness

Corporate Scandals and Household Stock Market Participation

We show that after the revelation of corporate fraud in a state, household stock market participation in that state decreases. Households decrease...

Royal Ahold: A Failure of Corporate Governance

After Halliburton: Event Studies and Their Role in Federal Securities Fraud Litigation

Event studies have become increasingly important in securities fraud litigation after the Supreme Court?s decision in Halliburton II. Litigants have...

The Corporate Value of (Corrupt) Lobbying

Using an event study, we examine whether the stock market considers corporate lobbying to be a value-enhancing investment. On January 3, 2006, lobbyist...