The Sarbanes-Oxley Act 2002 legislation was passed by the U.S. Congress in 2002. SarbOx 2002 requires all publicly listed companies to meet a significant increased amount of accounting compliance requirements. The cost of compliance and CEO time in dealing with compliance requirements increased...

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive changes in consumption. However, this might constitute...