GAO, FENG; WU, JOANNA SHUANG; ZIMMERMAN, JEROLD - In: Journal of Accounting Research 47 (2009) 2, pp. 459-506
This paper provides evidence about the unintended consequences arising when small companies are exempted from costly regulations-these firms have incentives to stay small. Between 2003 and 2008, the SEC postponed compliance with Section 404 of the Sarbanes-Oxley Act of 2002 (SOX) for...