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Did the Sarbanes-Oxley Act Improve Corporate Governance?
The Impact of SOX on Agency Costs in Publicly Traded Firms
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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.
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Did the Sarbanes-Oxley Act Improve Corporate Governance?, Scott Miller
- Language
- Released
- 2009
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- Title
- Did the Sarbanes-Oxley Act Improve Corporate Governance?
- Subtitle
- The Impact of SOX on Agency Costs in Publicly Traded Firms
- Language
- English
- Authors
- Scott Miller
- Publisher
- LAP LAMBERT Academic Publishing
- Released
- 2009
- Format
- Paperback
- Pages
- 156
- ISBN13
- 9783838320649
- Category
- Business and Economics
- Description
- 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.