The Prosecution Role where Courts Decide Cases

This article explores the role played by prosecutors during the court stage of criminal proceedings. It complements Peter et al.’s chapter on negotiated case settlements in showing how the power to decide cases is divided between judges and prosecutors when cases are taken to court. Providing information as to, e.g. what influence prosecutors in the 11 study countries have on what evidence is brought to court in “normal” and accelerated court proceedings, this chapter explores the balance of responsibilities in court rooms across Europe.     

Underwriters' counsel as gatekeeper or turnstile: an empirical analysis of law firm prestige and performance in IPOs

The first 150 words of the full text of this article appear below. Key points

• The article investigates the relationship betweenpricing in an initial public offering (IPO) and the prestigeof the participating underwriters’ law firm.
• The hypothesisof the article is that law firm quality affects how law firmsperform their obligations in IPOs—more prestigious lawfirms acting more independently. Consistent with this hypothesis,the authors find a negative relationship between pre-IPO priceadjustment and the participation of prestigious underwriters’counsel, and a negative relationship between the participationof prestigious underwriters’ counsel and initial return,which is consistent with market trading reflecting the decreasedrisk associated with offerings involving prestigious underwriters’counsel.
• Finally, it is found that certain observable characteristicsindicating diminished likelihood of undisclosed negative information(venture backing and quality of the issuer's counsel) are associatedwith an increased likelihood that prestigious underwriters’counsel is used.