Did SOX Section 404 Make Firms Less Opaque? Evidence from Cross-Listed Firms

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Bibliographic Details
Published inContemporary accounting research Vol. 30; no. 3; pp. 1133 - 1165
Main Authors Arping, Stefan, Sautner, Zacharias
Format Journal Article
LanguageEnglish
Published Blackwell Publishing Ltd 01.09.2013
CAAA
Subjects
EU-Staaten
Internes Kontrollsystem
Unternehmenspublizität
USA
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Bibliography:European Finance Association
ark:/67375/WNG-D6SFMWHG-X
Accepted by Clive Lennox. Earlier versions of this paper circulated under the title "Did the Sarbanes-Oxley Act of 2002 Make Firms Less Opaque? Evidence from Analyst Earnings Forecasts". We are very grateful to Steve Salterio, Clive Lennox, and two anonymous referees for very helpful comments and suggestions. We would also like to thank Arnoud Boot (discussant), Régis Breton (discussant), Miguel Ferreira, Denis Gromb, Timotej Homar, Peter Iliev, Dennis Jullens, Dalida Kadyrzhanova (discussant), Andrew Karolyi, Christian Leuz, Karl Lins, and seminar participants at the ACLE-UvA workshop "The Future of Financial Regulation" (Amsterdam, January 2011), the SUERF-UPF conference "Disclosure and Market Discipline: What Role for Transparency?" (Barcelona, December 2010), the European Finance Association Meetings 2010 in Frankfurt, ESCP Europe, and Aarhus School of Business for very helpful suggestions. Excellent research assistance by Klára Čelechovská, Wietse van Drooge, and Diederik Ligtenberg is gratefully acknowledged. All errors are our own.
ArticleID:CARE1188
Aarhus School of Business
istex:0D9704CF162D4C29E34C413AB4DDD87B1533AE8A
Accepted by Clive Lennox. Earlier versions of this paper circulated under the title “Did the Sarbanes‐Oxley Act of 2002 Make Firms Less Opaque? Evidence from Analyst Earnings Forecasts”. We are very grateful to Steve Salterio, Clive Lennox, and two anonymous referees for very helpful comments and suggestions. We would also like to thank Arnoud Boot (discussant), Régis Breton (discussant), Miguel Ferreira, Denis Gromb, Timotej Homar, Peter Iliev, Dennis Jullens, Dalida Kadyrzhanova (discussant), Andrew Karolyi, Christian Leuz, Karl Lins, and seminar participants at the ACLE‐UvA workshop “The Future of Financial Regulation” (Amsterdam, January 2011), the SUERF‐UPF conference “Disclosure and Market Discipline: What Role for Transparency?” (Barcelona, December 2010), the European Finance Association Meetings 2010 in Frankfurt, ESCP Europe, and Aarhus School of Business for very helpful suggestions. Excellent research assistance by Klára Čelechovská, Wietse van Drooge, and Diederik Ligtenberg is gratefully acknowledged. All errors are our own.
ISSN:0823-9150
1911-3846
DOI:10.1111/j.1911-3846.2012.01188.x