The Unintended Effects of the Sarbanes-Oxley Act
نویسندگان
چکیده
منابع مشابه
Is Board Structure One-size-fits-all? the Unintended Informational Consequence of the Sarbanes-oxley Act
In this paper we examine how board structure affects the informativeness of board members by comparing the returns earned by officers and independent directors from purchasing the firm’s stock. We investigate whether an exogenous shock to the board structure – the 2002 SarbanesOxley Act and the related mandates – leads to a shift in information asymmetry between officers and independent directo...
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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...
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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...
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ژورنال
عنوان ژورنال: Journal of Institutional and Theoretical Economics
سال: 2011
ISSN: 0932-4569
DOI: 10.1628/093245611794656435