These proceedings summarize the key themes and issues raised during a symposium on September 24, 2012, hosted by the RAND Center for Corporate Ethics and Governance. Discussion focused on the ways in which hedge funds might contribute to systemic risk and the extent to which recent financial reforms address these potential risks. Participants included thought leaders from industry, government, and academia.
Institute for Civil Justice Publications
The RAND Institute for Civil Justice uses empirical and objective research methods to search out the root causes of system problems and identify the best fixes. We find common ground among adversaries, and interpret findings for policymakers. Our work aims to make the system more efficient and equitable for all, protecting society from the economic and social costs of a system that could become arbitrary and capricious.
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Economic Effects of Product Liability and Other Litigation Involving the Safety and Effectiveness of Pharmaceuticals 2013
Liability effects on the economic performance of the pharmaceutical industry play a prominent role in the debate about the economic effects of product liability in the United States. The author analyzes incentive effects on company decisions, implications for economic outcomes such as drug safety and effectiveness, and suggests how public policy changes could mitigate liability-based sources of inefficient decisions of pharmaceutical companies.
Corporate Culture and Ethical Leadership Under the Federal Sentencing Guidelines: What Should Boards, Management, and Policymakers Do Now? 2012
On May 16, 2012, RAND brought together a group of public company directors and executives, chief ethics and compliance officers, and stakeholders from the government, academic, and nonprofit sectors for a series of conversations about organizational culture, as well as to explore the business and policy ramifications of efforts to build better ethical cultures in corporations.
This report explores the extent to which hedge funds create or contribute to systemic risk, the role they played in the financial crisis, and whether and how the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 addresses the potential systemic risks posed by hedge funds.
RAND research finds that hedge funds did not play a pivotal role in the financial crisis of 2007–2008 but assesses how such funds could contribute to systemic risk in the future.
This document describes the key themes and recommendations arising from a roundtable symposium RAND convened in January 2012 to explore the difficulties facing companies in complying with anti-corruption mandates and the challenges of corruption in foreign markets. The event drew on the experience of executives at major public companies and participants with backgrounds in foreign policy, diplomatic service, law, and the nonprofit sector.
This research brief provides an overview of a collection of essays, a collaborative project by the UCLA-RAND Center for Law and Public Policy, examining the trade-offs between transparency and confidentiality in the civil justice system.
The Impact of Health Care Reform on Workers’ Compensation Medical Care: Evidence from Massachusetts 2012
Health care reform can potentially affect the volume and cost of medical care received through workers' compensation (WC), but so far there has been little empirical evidence of this effect. This study used Massachusetts's health care reform experience to empirically estimate how reform impacts WC hospital care.
This monograph provides a richly detailed account of the resources required by a diverse set of very large companies operating in different industries to comply with what they described as typical electronic-discovery requests and suggests ways to reduce those costs, as well as address concerns about duties to preserve data in anticipation of litigation.
The Cost of Producing Electronic Documents in Civil Lawsuits: Can They Be Sharply Reduced Without Sacrificing Quality? 2012
According to a RAND study, document review makes up 73 percent of discovery costs. Predictive coding is the most promising option for cutting costs without compromising the quality of the process.