What should be the role of criminal law in controlling corporate behavior? Researchers measure the current use of criminal sanctions in controlling corporate behavior and offer suggestions about how doing so might be improved.
On May 16, 2012, RAND hosted a symposium that brought together senior thought leaders for a discussion about organizational culture and the business and policy ramifications of efforts to build better ethical cultures in corporations.
Sarbanes Oxley is widely considered the most comprehensive business legislation since the New Deal. While research has been done on the financial costs, little is known about the non-monetary effects. This study evaluates those effects, finding that as a result of the legislation firms have been harmed, and/or have decreased in value.
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 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.
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.