VALUATION IMPACT OF SARBANES - OXLEY : EVIDENCE FROM DISCLOSURE AND GOVERNANCE WITHIN THE FINANCIAL SERVICES INDUSTRY

This study examines the wealth effects from the passage of the Sarbanes - Oxley Act of 2002 (Sarbox) on firms in the financial services industry. Since the Sarbox legislation aimed to reduce the opacity of financial statements, we hypothesize and find that the more opaque segments experienced net gains from its adoption.

Subjects

• Financial statements
• Financial services industry.
• The sarbanes - oxley act of 2002
• Sarbox

Details

• From
  Journal of Banking & Finance, Mar. 2006, pp.989-1006