Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
Class action lawsuits as a vehicle of rent extraction is developed as an extension of political/legislative rent extraction theory. An event study is performed on thirty firms in which a securities class action lawsuit is filed and subsequently resolved by retraction, settlement, or legal verdict. The data set is found to be consistent with rent having been extracted as a result of the class action lawsuit. Copyright 2003 by Kluwer Academic Publishers