I study how increased internal control disclosure requirements mandated by the Sarbanes-Oxley Act (SOX) affect annual corporate governance decisions regarding CFOs. Using non-CEO, non-COO executive officers as a control group, I find that CFOs of firms with weak internal controls receive lower...

We investigate hedge fund activism in the corporate bond market. The empirical setting we use is the active enforcement of bondholders' rights during 2003-07 triggered by issuers' violation of a standard bond covenant requiring timely financial reporting. Specifically, we examine differences in...

The financial crisis has led to renewed interest in the effects of deregulation on bank governance and incentives provided to bank CEOs. We examine the relation between bank CEO turnover and performance, and whether this relation has been affected by banking deregulation. We find that bank CEO...