Did the Sarbanes-Oxley Act Improve Corporate Governance?

The Impact of SOX on Agency Costs in Publicly Traded Firms

Auteurs

• Scott Miller

Paramètres

• 156 pages
• 6 heures de lecture

• Affaires et économie

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Focusing on the impact of the Sarbanes-Oxley Act (SOX), this research investigates its benefits, particularly in governance and agency conflict resolution. Analyzing domestic manufacturing firms on the New York Stock Exchange, it finds that pre-SOX governance mechanisms failed to mitigate agency conflicts effectively. Post-SOX, these controls became more effective, demonstrating a significant reduction in agency costs. The study provides the first evidence that SOX not only incurs costs but also delivers measurable benefits, particularly in enhancing governance effectiveness.

Achat du livre

• Année de publication: 2009
• Reliure: (souple)