Kaserer, Christoph; Mettler, Alfred; Obernberger, Stefan - In: BuR - Business Research 4 (2011) 2, pp. 125-147
This paper examines the impact of the Sarbanes-Oxley Act (SOX), a legal framework intended to increase transparency and … accountability of listed companies, on the cost of going public in the US. We expect SOX to increase the direct cost of going public … underpricing of 6 pp, which is related to a reduced offer price adjustment. This supports our hypothesis that SOX represents a …