Discussion of “The robustness of the Sabarnes Oxley effect on the U.S. capital market”

Discussion of “The robustness of the Sabarnes Oxley effect on the U.S. capital market” In this paper, I use anecdotal evidence and logical reasoning to suggest that, despite the use of an extensive database, it is not possible to conclude that passage of the Sarbanes Oxley Act did not have an impact on companies’ delisting decisions. Moreover, the instrumental variables used to proxy for SOX effects are too weak and suffer from a significant endogeneity problem given that passage of SOX was driven by many of the economic and control problems that are used to control for market and company factors. I also discuss some broader issues about the trade-off between large sample statistical inference and anecdotal analysis for addressing practical questions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Accounting Studies Springer Journals

Discussion of “The robustness of the Sabarnes Oxley effect on the U.S. capital market”

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Springer US
Copyright © 2009 by Springer Science+Business Media, LLC
Business and Management; Accounting/Auditing; Corporate Finance; Public Finance
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