Stock market reactions to the Japanese Sarbanes-Oxley act of 2006
نویسندگان
چکیده
منابع مشابه
The Sarbanes-Oxley Act and the Flow of International Listings
This paper examines cross-listing behavior onto U.S. and U.K. stock exchanges following the enactment of the Sarbanes-Oxley Act, and tests two propositions. First, has the rate of foreign cross-listings onto U.S. exchanges decreased in the period following the enactment of the Act? Second, are foreign exchanges in particular, the London Stock Exchange attracting foreign firms in the post-Act pe...
متن کاملThe Sarbanes-Oxley Act and Corporate Investment: A Structural Assessment∗
We assess the impact of the Sarbanes-Oxley Act of 2002 on corporate investment in an investment Euler equation framework, where a dummy for the passage of the Act is allowed to affect the rate at which managers discount future investment payoffs. Using generalized method of moments estimators, we find that the rate U.S. firm managers apply to discount investment projects rises significantly aft...
متن کاملWas the Sarbanes-Oxley Act good news for corporate bondholders?
This study examines the impact of the Sarbanes-Oxley Act (SOX) on bondholders, a significant investor group that has not been previously considered in the SOX literature. We find that bond values decline around the announcement of events leading up to the passage of SOX, consistent with market participants expecting SOX to impose net costs on bondholders. We further find that the decline in bon...
متن کاملThe Impact of Information Disclosure on Stock Market Returns: The Sarbanes-Oxley Act and the Role of Media as an Information Intermediary
The Sarbanes-Oxley (SOX) Act of 2002 is one of the, if not the, most important pieces of legislation affecting corporations traded on the U.S. stock exchanges. While SOX does not explicitly address the issue of information security, the definition of internal control provided by the SEC, combined with the fact that the reporting systems in all firms required to comply with SOX are based on syst...
متن کاملRegulation and Sarbanes-Oxley
Many of the papers in this special issue are concerned with regulation and some with the Sarbanes-Oxley Act (SOX). In this commentary, I will begin by summarizing the arguments for regulation that have been made in the literature.1 I will then consider whether these arguments apply to SOX. I will suggest that, rather than being based on sound principles, regulation often seems to be a consequen...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Corporate Ownership and Control
سال: 2009
ISSN: 1810-3057,1727-9232
DOI: 10.22495/cocv7i2p10