This paper investigates whether shareholder class action litigation affects the takeover candidacy, premium, and completion rate of mergers and acquisitions involving defendant target firms. We use a comprehensive data set of publicly traded U.S. firms that became the targets of takeover bids...

We show that higher capital and liquidity ratios increase the efficiency of conventional and Islamic banks. Using conditional quantile regressions, we further show that the effect is stronger for highly efficient, small, highly liquid, and highly capitalized conventional banks. We also find that...

We consider the importance of legal opportunism as an explanation for observed litigation following a large sample of initial public offerings (IPOs). We characterize legal opportunism as litigation based on the potential to recover losses after negative stock price developments rather than the...

We examine how the ownership of lead venture capital firms (VCs) evolves after their portfolio companies (PCs) are publicly listed. The VC investment period before the IPO, the VC age, the PC age, and the percentage change in the post-IPO stock price all incentivize earlier VC exit. Lead VCs...