Working Paper

01 August 2016

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 used event study methodology, which empirically analyzes the relationship...

Jill Fisch | Jonah Gelbach | Jonathan Klick
01 March 2017

Corporate Opportunities in the US and in the UK: How Differences in Enforcement Explain Differences in Substantive Fiduciary Duties

Fiduciary duties are often today held out as typical instruments of shareholder protection in the common law of both the US and the UK, which are sometimes held out as examples for a consensus model for what is considered good corporate...

Martin Gelter | Geneviève Helleringer
10 September 2016

Can Staggered Boards Improve Value? Evidence from the Massachusetts Natural Experiment

We study the effect of staggered boards on long-run firm value, using a natural experiment: a 1990 law that imposed a staggered board on all firms incorporated in Massachusetts. We find a significant and positive average increase in...

Robert Daines | Shelley Xin Li | Charles Wang