G2TT
来源类型Discussion paper
规范类型论文
来源IDDP6266
DP6266 Increasing Returns to Education: Theory and Evidence
Alison Booth; Melvyn G Coles; Xiaodong Gong
发表日期2007-04-23
出版年2007
语种英语
摘要We evaluate the net benefits of the Sarbanes-Oxley Act (SOX) for shareholders by studying the lobbying behaviour of investors and corporate insiders to affect the final implemented rules under the Act. Investors lobbied overwhelmingly in favour of strict implementation of SOX, while corporate insiders and business groups lobbied against strict implementation. We identify the firms most affected by the law as those whose insiders lobbied against strict implementation, and compare their returns to the returns of less affected firms. Cumulative returns during the four and a half months leading up to passage of SOX were approximately 10 percent higher for corporations whose insiders lobbied against one or more of the SOX disclosure-related provisions than for similar non-lobbying firms. Analysis of returns in the post-passage implementation period indicates that investors? positive expectations with regards to the effects of the law were warranted for the enhanced disclosure provisions of SOX.
主题Financial Economics
关键词Corporate governance Sarbanes oxley act
URLhttps://cepr.org/publications/dp6266
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/535101
推荐引用方式
GB/T 7714
Alison Booth,Melvyn G Coles,Xiaodong Gong. DP6266 Increasing Returns to Education: Theory and Evidence. 2007.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Alison Booth]的文章
[Melvyn G Coles]的文章
[Xiaodong Gong]的文章
百度学术
百度学术中相似的文章
[Alison Booth]的文章
[Melvyn G Coles]的文章
[Xiaodong Gong]的文章
必应学术
必应学术中相似的文章
[Alison Booth]的文章
[Melvyn G Coles]的文章
[Xiaodong Gong]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。