Evaluates managerial perception of the Sarbanes-Oxley Act of 2002, a stringent rules-based system widely considered the most comprehensive economic regulation since the New Deal.
Improving corporate compliance, ethics, and oversight has been a significant policy goal for the U.S. government for decades, and made more salient by the collapse of financial markets in late 2008. On March 5, 2009, RAND convened a conference in Washington, D.C., on the role and perspectives of corporate chief ethics and compliance officers in the detection and prevention of corporate misdeeds.
This dissertation analyzes the combination of federal and investors' class actions to enforce federal securities laws, as well as how the Sarbanes-Oxley Act disrupts joint public and private litigation to discipline self regulatory organizations like the national stock exchanges, and the effects of these attempted reforms on the market.
This research brief summarizes the impact of the Sarbanes-Oxley Act (SOX) on small firms based on a review of studies of relative compliance costs, stock-price reactions, and exit patterns from the public market.