Corporate governance post-Enron: Effective reforms, or closing the stable door?

Journal of Corporate Finance

Volumn 13, Issue 5, 2007, Pages 929-958

  Gillan, Stuart L ^a   Martin, John D ^b  

^a TEXAS TECH UNIVERSITY   (United States)

^b BAYLOR UNIVERSITY   (United States)

Author keywords

Corporate governance; Financial distress

Indexed keywords

EID: 36349002800     PISSN: 09291199     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jcorpfin.2007.03.008     Document Type: Article

References (39)

1. Adams R., Hayes R., Mehran H., and Schaefer S. Board Committee Structures, Ownership, and Firm Performance, Working Paper (2002), New York Federal Reserve
2. Bebchuk L., and Grinstein. The growth of executive pay. Oxford Review of Economic Policy 21 (2005) 283-303
3. Benston G.J., and Hatgraves A.L. Enron: what happened and what we can learn from it. Journal of Accounting and Public Policy 21 (2002) 105-127
4. Boone, A., Field, L., Karpoff, J. and Raheja, C., in press. The determinants of corporate board size and composition: An empirical analysis, Journal of Financial Economics.
5. Brickley J. The Role of CEOs in Large Corporations: Evidence from Ken Lay at Enron, Working Paper (2007), University of Rochester
6. Burns N., and Kedia S. The impact of performance-based compensation on misreporting. Journal of Financial Economics 79 1 (2006) 35-67
7. Carcello J.V., Hollingsworth C.W., Klein A., and Neal T.L. Audit Committee Financial Expertise, Competing Corporate Governance Mechanisms, and Earnings Management, Working Paper (2006), University of Tennessee
8. Chang H., Chen J., Liao W.M., and Mishra B.K. CEOs'/CFOs' Swearing by the Numbers: Does It Impact Share Price of the Firm?. The Accounting Review 81 1 (2006) 1-28
9. Cheung Y.-L., Rau P.R., and Stouraitis A. Tunneling, propping, and expropriation: evidence from connected parties in Hong Kong. Journal of Financial Economics 82 2 (2006) 343-386
10. Chhaochharia, V. and Grinstein, Y., in press. Corporate Governance and Firm Value: The Impact of the 2002 Governance Rules, Journal of Finance.
11. Coffee Jr. J.C. Understanding Enron: It's about the gatekeepers, stupid. Columbia Law School, The Center for Law and Economic Studies, Working Paper vol. 207 (2002) (July 30)
12. Coles, J., Daniels, N. and Naveen, L., in press. Boards: Does one size fit all? Journal of Financial Economics.
13. Collins D.P. CFTC acts on Enron, crackdown elsewhere. Futures 32 6 (2003) 17
14. Committee on Governmental Affairs of the United States. The Role of the Board of Directors in Enron's Collapse. Report prepared by the Permanent Subcommittee on Investigations, 107th Congress, 2nd Session, Report 107-70 (2002) (July 8)
15. Denis D., and Sarin A. Ownership and Board Structures in Publicly Traded Corporations. Journal of Financial Economics 52 2 (1999) 187-223
16. Denis D.J., Hanouna P., and Sarin A. Is there a dark side to incentive compensation?. Journal of Corporate Finance 12 3 (2006) 467-488
17. Fee T., and Hadlock C. Management turnover and product market competition: empirical evidence from the U.S. newspaper industry. Journal of Business (2000) 205-243
18. Gillan S.L. Recent developments in corporate governance: an overview. Journal of Corporate Finance 12 3 (2006) 381-402
19. Gillan, S.L., Hartzell, J.C., Starks, L.T., 2003. Industries, investment opportunities and corporate governance, working paper. University of Texas and Texas Tech University.
20. Gillan S.L., Hartzell J.C., and Starks L.T. Tradeoffs in Corporate Governance: Evidence from Board Structures and Charter Provisions, Working Paper, University of Texas and Texas Tech University (2006)
21. Gordon E., and Henry E. Related Party Transactions and Earnings Management, Working Paper (2004), Rutgers University
22. Healy P. The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics 7 (1985) 85-107
23. Healy P., and Palepu K.G. The fall of Enron. Journal of Economic Perspectives 17 2 (2003) 3-26
24. Jensen M.C. The modern industrial revolution, exit and the failure of internal control systems. Journal of Finance 48 (1993) 831-880
25. Jian M., and Wong T.J. Earnings Management and Tunneling through Related Party Transactions: Evidence from Chinese Corporate Groups, Working Paper (2003), Chinese University of Hong Kong
26. Johnson S., Ryan H.E., and Tian Y.S. Executive Compensation and Corporate Fraud, Working Paper (2003), Louisiana State University
27. Kole S., and Lehn K. Deregulation and the adaptation of governance structure: the case of the U.S. airline industry. Journal of Financial Economics 52 (1999) 79-117
28. Lehn, K., Patro, S. and Zhao, M., 2006. Determinants of size and structure of corporate boards:1935-2000, Working Paper. University of Pittsburg, and Bentley College.
29. Linck J.S., Netter J., and Yang T. Effects and Unintended Consequences of the Sarbanes Oxley Act on Corporate Boards, Working Paper (2006), University of Georgia
30. Murphy K.J. Executive Compensation. In: Ashenfelter O., and Card D. (Eds). Handbook of Labor Economics vol. 3 (1999), North Holland
31. O'Connor, S.M., 2002. The inevitability of Enron and the impossibility of "auditor independence" under the current audit system, University of Pittsburgh School of Law, Unpublished paper.
32. Parrino R. CEO turnover and outside succession a cross-sectional analysis. Journal of Financial Economics 46 2 (1997) 165-197
33. Powers Jr. W.C., Troubh R.S., and Winokur Jr. H.S. Report of the Special Investigative Committee of the Board of Directors of Enron Corporation (2002)
34. Prentice R.A. The case of the irrational auditor: a behavioral insight into securities fraud litigation. Northwestern University Law Review 95 (2000) 1333
35. Turner L. Learning from accounting history: Will we get it right this time?. Issues in Accounting Education 21 4 (2006) 383-407
36. Weil R.L. Fundamental Causes of the Accounting Debacle at Enron: Show me where it says I can't, Summary of Testimony for Presentation 06-Feb-2002, The Committee on Energy and Commerce (2002) (February 5)
37. Yermack D. Higher market valuation for firms with a small board of directors. Journal of Financial Economics 40 (1996) 185-211
38. Zhang, Ivy Xiying, in press. Economic consequences of the Sarbanes-Oxley Act of 2002, Journal of Accounting and Economics, William E. Simon School of Business, University of Rochester.
39. Zingales L. Survival of the fittest or the fattest? Exit and financing in the trucking industry. Journal of Finance 53 (1998) 905-938