Unintended Consequences of Granting Small Firms Exemptions from Securities Regulation: Evidence from the Sarbanes‐Oxley Act

By Feng Gao, J. Wu, J. Zimmerman. 2009

227 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/594e0ff1db82ee1d19ec2464454a68200d87c4ff

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Citations in the corpus

The JOBS Act and IPO Volume: Evidence that Disclosure Costs Affect the IPO Decision (2015, background): “Gao et al. (2013) propose the economies of scope hypothesis, which contends that the importance of getting big fast has increased over time, as the speed of technological”
Shock-Based Causal Inference in Corporate Finance and Accounting Research (2015, background): “…book value of equity) above a regulatory threshold to firms below the threshold; they confirm that the post-shock “switchers”, who reduce their charter capital, are few in number and that their results hold if they drop these firms from the sample. below the threshold (see also Gao et al. (2009)).”
The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2015, background): “Consistent with this notion, Gao et al. (2009) provide evidence that the size-based exemptions built into SOX induce some firms to remain below the cutoff, leading them to take real actions that inhibit firm growth, such as investment cuts.”
A theory of voluntary disclosure and cost of capital (2013, background): “, often cited implementation costs of the Sarbanes-Oxley Act as noted in Gao et al. (2008)).”
Internal Control and Management Guidance (2009, background): “Our findings point to an unintended consequence of Section 404 (Gao et al., 2009): the reduction of the frequency, precision, and timeliness of voluntary disclosures among firms consistently reporting ineffective internal controls.”
The Effect of SOX on Small Auditor Exits and Audit Quality (2011, methodology): “We examine the content of the peer review and inspection reports because prior literature suggests that unfavorable reports are associated with poor audit quality (i.e., Hilary and Lennox, 2005; Casterella et al., 2009; Gunny and Zhang, 2009).”