Litigation risk and investment policy
| Autor: | James Malm, Nilesh B. Sah, Marcin W. Krolikowski, Hari P. Adhikari |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
040101 forestry
Economics and Econometrics 050208 finance Actuarial science 05 social sciences 04 agricultural and veterinary sciences Investment policy Litigation risk analysis Capital expenditure 0502 economics and business Corporate law 0401 agriculture forestry and fisheries Positive relationship Business Finance |
| Zdroj: | Journal of Economics and Finance. 41:829-840 |
| ISSN: | 1938-9744 1055-0925 |
| DOI: | 10.1007/s12197-016-9382-6 |
| Popis: | We use a unique hand-collected dataset on corporate litigation to empirically examine the relationship between litigation risk and investment policy. We document a positive relationship between litigation risk and total investments. Decomposing total investments into capital expenditure, and research and development expense, we find a positive relationship between litigation risk and capital expenditure. We also find a positive relationship between litigation risk and research and development expense. The results are robust to different measures of litigation risk. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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