Hochberg, Yael; Sapienza, Paola; Vissing-Jorgensen, Annette - C.E.P.R. Discussion Papers - 2007
We evaluate the net benefits of the Sarbanes-Oxley Act (SOX) for shareholders by studying the lobbying behaviour of investors and corporate insiders to affect the final implemented rules under the Act. Investors lobbied overwhelmingly in favour of strict implementation of SOX, while corporate...