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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Legal Environment Changes and Firm Value: Evidence From the 1999 SGI Case
Author(s): Jangho Gil, Youngbin Kim, Jaeseong Lim
Citation: Jangho Gil, Youngbin Kim, Jaeseong Lim, (2021) "Legal Environment Changes and Firm Value: Evidence From the 1999 SGI Case," Journal of Applied Business and Economics, Vol. 23, Iss.1, pp. 248-257
Article Type: Research paper
Publisher: North American Business Press
Abstract:
The 1999 Silicon Graphics International (SGI) case reduced litigation risks and allowed for discretion in financial statements, resulting in a decrease in the expected losses associated with litigation. In this paper, we explore this new legislative environment and examine the pathways underlying the impact of changes to the legal environment on firm value. Accordingly, this study visualizes how these changes can enhance the value of a firm. In addition, this paper reveals how managers react to the legal changes in financial reporting practices.
