This paper studies the heretofore unexamined effect of Sarbanes-Oxley Act of 2002 (SOX) on the spread-accruals relationship. We document that SOX has no impact on the overall spread-accruals relationship but, as hypothesized, it has a moderating effect on the discretionary (but not innate)...

This paper examines the relation between earnings management and the marginal cost of debt to the firm using a sample of traded corporate bonds for the period 1994-2005. The marginal cost of debt is captured by market determined yield spreads, while earnings management is proxied by three...

This study addresses the empirical question, quot;Of what value are shareholder proposals sponsored by public pension funds?quot; and finds that the primary function of a proposal is to act as a signaling mechanism in alerting the market that management is unwilling or unable to negotiate a...