Did the Sarbanes-Oxley Act Improve Corporate Governance?

The Impact of SOX on Agency Costs in Publicly Traded Firms

Autori

• Scott Miller

Parametri

• 156 pagine
• 6 ore di lettura

• Economia e affari

Maggiori informazioni sul libro

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.

Lingua: Inglese

Pubblicato: 2009

(In brossura)