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How Does Management Respond To Class Action Litigation Risk?

Sat, October 1, 11:10am to 12:30pm, The Westin St. Louis, TBA

Abstract

Class action litigation is an important and valuable part of the legal system. With a natural experiment I investigate how class action litigation risk affects corporate risk-taking. I find that as shareholder litigation risk decreases firms adopt more risky strategies, suggesting that class action litigation risk discourages managers from taking excessive risks.

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