Aidong Adam Ding, Shaonan Tian, Yan Yu, Xinlei Zhao
{"title":"Does judicial foreclosure procedure help delinquent subprime mortgage borrowers?","authors":"Aidong Adam Ding, Shaonan Tian, Yan Yu, Xinlei Zhao","doi":"10.1111/jels.12314","DOIUrl":"10.1111/jels.12314","url":null,"abstract":"<p>We conduct comprehensive analyses on whether and how the judicial foreclosure procedure helps subprime mortgage borrowers to reinstate their delinquent loans outside foreclosure liquidation. Even though the transition rates of various exit types are all higher in non-judicial states, we argue such higher rates can be mechanically driven by the faster shrinking pool of delinquent mortgages in non-judicial states over time. Based on the cumulative proportions of various exit types during a period of up to 5 years post the mortgage first become 90 days past due, we find that judicial states offer more opportunities for delinquent borrowers to reinstate their loans outside foreclosure liquidation, especially during a housing market downturn. Cures, modifications, and paid-offs were all important alternative ways to resolve serious delinquencies during 2007–2008. After modifications became widely available in 2009, loan modifications became the most important alternative for subprime borrowers to reinstate their delinquent mortgages outside foreclosure liquidation. The lion's share of the judicial foreclosure benefit shows up after the start of the foreclosure process.</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 2","pages":"382-422"},"PeriodicalIF":1.7,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jels.12314","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45050934","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Framing negligence","authors":"Shoham Choshen-Hillel, Ehud Guttel, Alon Harel","doi":"10.1111/jels.12315","DOIUrl":"https://doi.org/10.1111/jels.12315","url":null,"abstract":"<p>This article uncovers the role of framing in the determination of negligence. Negligence disputes fall into two categories: cases in which injurers inflicted harm while seeking to avoid a <i>loss</i> to themselves (loss frame) and those in which they were seeking to obtain a personal <i>gain</i> (gain frame). We develop a theoretical framework whereby the frame of the injurer's behavior shapes negligence determinations in two ways. First, people are less likely to find an injurer negligent in a loss than in a gain frame. This is because, due to loss aversion, they find behavior more reasonable if done to avoid a loss than to obtain a gain. Second, people accord greater weight to the efficiency of the injurer's behavior in a loss frame than in a gain frame. This is because a comparison between the victim's harm and the injurer's benefit is more salient when both parties face a loss (loss frame). A series of experiments supported both hypotheses as well as the underlying mechanism. We discuss the implications of our findings and suggest that they may relate to the seemingly inconsistent case law on the role of efficiency considerations in negligence cases.</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 2","pages":"296-339"},"PeriodicalIF":1.7,"publicationDate":"2022-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jels.12315","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"137562969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Christoph Engel, Sebastian J. Goerg, Christian Traxler
{"title":"Intensified support for juvenile offenders on probation: Evidence from Germany","authors":"Christoph Engel, Sebastian J. Goerg, Christian Traxler","doi":"10.1111/jels.12311","DOIUrl":"10.1111/jels.12311","url":null,"abstract":"<p>This paper studies a probation program in Cologne, Germany. The program, which has a clear rehabilitative focus, offers intensified personal support to serious juvenile offenders over the first 6 months of their probation period. To evaluate the program's impact on recidivism, we draw on two research designs. Firstly, a small-scale randomized trial assigns offenders to probation with regular or intensified support. Secondly, a regression discontinuity design exploits a cutoff that defines program eligibility. The results suggest that the program reduces recidivism. The effect seems persistent over at least 3 years. Our evidence further indicates that the drop in recidivism is strongest among less severe offenders.</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 2","pages":"447-490"},"PeriodicalIF":1.7,"publicationDate":"2022-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jels.12311","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49490334","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Appellate court assignments as a natural experiment: Gender panel effects in sex discrimination cases","authors":"Robert S. Erikson","doi":"10.1111/jels.12312","DOIUrl":"10.1111/jels.12312","url":null,"abstract":"<p>This paper argues that estimating causal effects on US Appellate Court panels can be advanced by analyzing the data as a series of natural experiments, fully exploiting the as-if random assignment of judges to cases. As a template, this paper reanalyzes Boyd et al.'s data on sex-discrimination cases. The question is the impact on the votes by male judges from having a female judge on their panel. Leverage from as-if random assignment can be exploited only by restricting comparisons of treatments cases (in the example, female co-panelist) exclusively to control cases (all-male panels) from the same period and time period from which the treatment cases are drawn. With as-if random assignment reducing the possibility of a biased estimate, the results confirms a gender panel effect similar in size to the claim by Boyd et al. Restricting comparisons to within the same circuit and time period further advances understanding of the causal mechanism. When male or female judges side with female plaintiffs, the females are more persuasive at swaying the votes of their male co-panelists' votes.</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 2","pages":"423-446"},"PeriodicalIF":1.7,"publicationDate":"2022-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43021018","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Introducing twin corpora of decisions for the International Court of Justice (ICJ) and the Permanent Court of International Justice (PCIJ)","authors":"Seán Fobbe","doi":"10.1111/jels.12313","DOIUrl":"10.1111/jels.12313","url":null,"abstract":"<p>In this article I present the first two of a new series of open and high-quality international legal data sets: comprehensive, fully reproducible, human- and machine-readable open access collections covering one hundred years of case law of the primary judicial organs of the United Nations and the League of Nations: the <i>Corpus of Decisions: International Court of Justice</i> (<i>CD-ICJ</i>) and the <i>Corpus of Decisions: Permanent Court of International Justice</i> (<i>CD-PCIJ</i>). Each corpus is designed to capture in its entirety the published case law of its eponymous Court, including majority opinions (judgments, advisory opinions and orders), but also the minority opinions annexed to each decision (declarations, separate opinions and dissenting opinions). The corpora are enriched with useful metadata to enhance text-as-data research and enable stand-alone metadata analyses. While each corpus can stand on its own, the twin corpora are designed to be perfectly interoperable for the purposes of analyses that wish to treat the ICJ and PCIJ as a continuous entity. The most recent versions of the corpora will always be available open access at https://doi.org/10.5281/zenodo.3826444 (CD-ICJ) and https://doi.org/10.5281/zenodo.3840479 (CD-PCIJ).</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 2","pages":"491-524"},"PeriodicalIF":1.7,"publicationDate":"2022-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jels.12313","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48612970","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Joshua Yuvaraj, Rebecca Giblin, Daniel Russo-Batterham, Genevieve Grant
{"title":"U.S. Copyright Termination Notices 1977–2020: Introducing New Datasets","authors":"Joshua Yuvaraj, Rebecca Giblin, Daniel Russo-Batterham, Genevieve Grant","doi":"10.1111/jels.12310","DOIUrl":"10.1111/jels.12310","url":null,"abstract":"<p>Copyright termination laws in the United States allow creators to end their copyright assignments and licences after various time periods and regain their rights. These laws are designed to protect authors and their heirs by giving them a second opportunity to profit from their works, where they might have assigned them initially for relatively little. Similar laws are in force and being recommended for implementation around the world. However, there is little data on how these laws are being used. Such data is vital because it provides insights into the pros and cons of different systems. We fill this gap by providing the first large-scale study of copyright termination notice records from the U.S. Copyright Office. Utilising data scraping and manipulation techniques in the Python programming language, we have created two brand new datasets for scholars, copyright experts, creators, publishers, and other industry stakeholders to examine. In our accompanying paper, we document some preliminary trends from the data and how it might be used for further analysis.</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 1","pages":"250-292"},"PeriodicalIF":1.7,"publicationDate":"2022-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jels.12310","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43094642","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mark Humphery-Jenner, Emdad Islam, Lubna Rahman, Jo-Ann Suchard
{"title":"Powerful CEOs and Corporate Governance","authors":"Mark Humphery-Jenner, Emdad Islam, Lubna Rahman, Jo-Ann Suchard","doi":"10.1111/jels.12305","DOIUrl":"10.1111/jels.12305","url":null,"abstract":"<p>Excessive CEO power is often regarded as value-destroying. We use a quasi-exogenous regulatory shock to analyze whether improved governance helps to channel firms with powerful CEOs toward more value-enhancing corporate policies. We use the Sarbanes-Oxley Act and NYSE/NASDAQ listing rules and focus on firms that were required to improve governance. We find that postregulation firms led by powerful CEOs increase innovation inputs (Research and Development expenditures) and produce more innovation outputs (patents) that are scientifically more important (citations) and economically more valuable (market value of patents). Investment quality also improves, manifesting in better takeover performance and improvements in firm performance and corporate value. Our results suggest that improved governance can mitigate value destruction in powerful CEO-managed firms. We take steps to mitigate econometric concerns and ensure our results are robust to various combinations of fixed effects and control variables.</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 1","pages":"135-188"},"PeriodicalIF":1.7,"publicationDate":"2022-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jels.12305","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44963299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Currency Mismatches and Public Debt Management: What is Effective Strategy for Developing Country?","authors":"Scott Regifere Mouandat","doi":"10.18488/66.v9i1.2917","DOIUrl":"https://doi.org/10.18488/66.v9i1.2917","url":null,"abstract":"Developing countries are often confronted with debt problems because of the risks of over-indebtedness and especially the heavy default history. In such a context, debt management must be rigorous and guarantee a stable debt. However, such management is difficult in an environment marked by liabilities denominated in foreign currencies and assets denominated in domestic currencies, i.e., an environment of currency mismatches. The objective of this paper is then to determine, from a partial equilibrium model, an effective strategy for managing public debt in the presence of currency mismatches. We conclude that it is preferable to arbitrate between a debt denominated in foreign currency and a debt denominated in domestic currency. We also find that this arbitation depends on the financing conditions, i.e. the domestic interest rate and the risk premium on foreign debt. More precisely, when the government's objective is to minimize the interest burden, it is preferable to issue more local currency debt and less foreign currency debt, as long as the domestic interest rate is lower than the risk premium on foreign debt.","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"32 1","pages":""},"PeriodicalIF":1.7,"publicationDate":"2022-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89249304","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Transnational Litigation in U.S. Courts: A Theoretical and Empirical Reassessment","authors":"Christopher A. Whytock","doi":"10.1111/jels.12306","DOIUrl":"10.1111/jels.12306","url":null,"abstract":"<p>It is widely claimed that the level of transnational litigation in U.S. courts is high and increasing, primarily due to forum shopping by foreign plaintiffs. This “transnational forum shopping claim” reflects the conventional wisdom among transnational litigation scholars. Lawyers use the claim in briefs; judges use it in court opinions; and interest groups use it to promote law reform. This article reassesses the transnational forum shopping claim theoretically and empirically. It argues that despite globalization, there are reasons to doubt the claim. Changes in procedural and substantive law have made the U.S. legal system less attractive to plaintiffs than it supposedly once was. Meanwhile, other legal systems have been adopting features similar to those that are said to have made the United States a “magnet forum” for foreign plaintiffs, and arbitration is growing as an alternative to transnational litigation. Empirically, using data on approximately 8 million civil actions filed in the U.S. district courts since 1988, the article shows that transnational diversity cases represent only a small portion of overall litigation, their level has decreased overall, and U.S., not foreign, plaintiffs file most of them. The data also reveal that federal question filings by foreign resident plaintiffs are not extensive or increasing either. These findings challenge the transnational forum shopping claim and law reforms based on it, and suggest that it should no longer be used by lawyers, judges, and scholars—at least not without supporting data. The article’s analysis also suggests new directions for transnational litigation as a field of scholarship that would move it beyond its current focus on U.S. courts toward a focus on understanding the dynamics of transnational litigation in global context.</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 1","pages":"4-59"},"PeriodicalIF":1.7,"publicationDate":"2022-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jels.12306","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42381450","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does Group Familiarity Improve Deliberations in Judicial Teams? Evidence from the German Federal Court of Justice","authors":"Tilko Swalve","doi":"10.1111/jels.12308","DOIUrl":"10.1111/jels.12308","url":null,"abstract":"<p>Collegiality plays a central role in judicial decision-making. However, we still lack empirical evidence about the effects of collegiality on judicial decision-making. In this article, I argue familiarity, an antecedent to collegiality, improves judicial deliberations by encouraging minority dissent and a more extensive debate of different legal viewpoints. Relying on a novel dataset of 21,613 appeals in criminal cases at the German Federal Court of Justice between 1990 and 2016, I exploit quasi-random assignment of cases to decision-making groups to show that judges' pairwise familiarity substantially increases the probability that judges schedule a main hearing after first-stage deliberations. Group familiarity also increases the length of the justification of the ruling. The findings have implications for the way courts organize the assignment of judges to panels.</p>","PeriodicalId":47187,"journal":{"name":"Journal of Empirical Legal Studies","volume":"19 1","pages":"223-249"},"PeriodicalIF":1.7,"publicationDate":"2022-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jels.12308","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46510338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}