Securities Price Consequences of the Private Securities Litigation Reform Act of 1995 and Related Events

By Ashiq Ali, Sanjay Kallapur. 2001

140 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/2e7f0a0265b9c2bbe5a80e03042ef734b23cef2d

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Citations in the corpus

Professional Investor Relations within the Firm (2014, background): “14 Following Ali and Kallapur (2001), Litigation is equal to one if the firm is from the following Standard Industrial Classification (SIC) codes: 2833–2836 and 8731–8734 (pharmaceuticals/biotechnology), 3570–3577 and 7370– 7374 (computers and programing), 3600–3674 (electronics), and 5200–5961…”
Equity Incentives and Earnings Management (2005, unknown): “Ali and Kallapur (2001) and Francis et al. (1994) find that price declines due to negative earnings surprises can lead to litigation liability.”
Institutional monitoring through shareholder litigation (2010, unknown): “These litigation agency costs (such as excessive attorney fees) are deadweight losses to both the continuing shareholders and class members (Ali and Kallapur, 2001).”
Market Reaction to Events Surrounding the Sarbanes‐Oxley Act of 2002 and Earnings Management (2008, unknown): “…following model: Market RET p a b D , (1) t 0 i i t all i where Market RETt is the Center for Research in Security Prices (CRSP) valueweighted market return on day t, Di is a dummy variable equal to one during event i and is zero otherwise, and i p 1, 2, . . . , 8 events (Ali and Kallapur 2001).”
Measuring Securities Litigation Risk (2012, background): “Other authors who examine the determinants and effects of litigation risk limit their samples to firms in the FPS industries.5 Ali and Kallapur (2001), Johnson, Kasznik 5 Lowry and Shu (2002) study the role of litigation risk on IPO underpricing.”
Firm Litigation Risk and the Insurance Value of Corporate Social Performance (2013, unknown): “Following the lead of prior studies (e.g., Ali and Kallapur, 2001; Francis et al., 1994; Matsumoto, 2002) SIC codes 2833–2836 (biotechnology), 3570–3577 and 7370–7374 (computers), 3600–3674 (electronics), and 5200–5961 (retailing) were selected as representing industries characterized by a high…”
Do the Merits Matter Less after the Private Securities Litigation Reform Act (2006, background): “…veto of the PSLRA, consistent with the view that the PSLRA increased shareholder welfare for firms in high litigation risk industries.17 In contrast, Ali and Kallapur (2001) provide evidence of significant negative cumulative abnormal returns from the day before the congressional vote on the…”