Increased Disclosure Requirements and Corporate Governance Decisions: Evidence from Chief Financial Officers in the Pre- and Post-Sarbanes-Oxley Periods

Journal of Accounting Research

Volumn 48, Issue 4, 2010, Pages 885-920

  Wang, Xue ^a  

^a EMORY UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 77955148941     PISSN: 00218456     EISSN: 1475679X     Source Type: Journal    
DOI: 10.1111/j.1475-679X.2010.00378.x     Document Type: Article

References (55)

1. Altamuro J, Beatty A. How Does Internal Control Regulation Affect Financial Reporting. Journal of Accounting and Economics 2010, 49:58-74.
2. Armstrong C S, Guay W R, Weber J P. The Role of Information and Financial Reporting in Corporate Governance and Contracting. 2009, Working paper, the University of Pennsylvania and Massachusetts Institute of Technology
3. Ashbaugh H, Collins D W, Kinney W R. The Discovery and Reporting of Internal Control Deficiencies Prior to SOX-Mandated Audits. Journal of Accounting and Economics 2007, 44:166-92.
4. Ashbaugh H, Collins D W, Kinney W R, LaFond R. The Effect of SOX Internal Control Deficiencies on Firm Risk and Cost of Equity. Journal of Accounting Research 2009, 47:1-43.
5. Bamber L S, Jiang J, Wang I Y. What's My Style? The Influence of Top Managers and Their Personal Backgrounds on Voluntary Corporate Financial Disclosure. Accounting Review 2010, Forthcoming
6. Bargeron L L, Lehn K M, Zutter C J. Sarbanes-Oxley and Corporate Risk-Taking. Journal of Accounting and Economics 2010, 49:34-52.
7. Beneish M D, Billings M B, Hodder L D. Internal Control Weaknesses and Information Uncertainty. Accounting Review 2008, 83:665-703.
8. Bertrand M, Duflo E, Mullainathan S. How Much Should We Trust Differences-in-Differences Estimates. Quarterly Journal of Economics 2004, 119:249-75.
9. Burks J T. Disciplinary Measures in Response to Restatements After Sarbanes-Oxley. Journal of Accounting and Public Policy 2009, Forthcoming
10. Carter M E, Lynch L J, Zechman S L. Changes in Bonus Contracts in the Post-Sarbanes-Oxley Era. Review of Accounting Studies 2009, 14:480-506.
11. Coates J C. The Goal and Promise of the Sarbanes-Oxley Act. Journal of Economic Perspectives 2007, 21:91-116.
12. Cohen D A, Dey A, Lys T Z. The Sarbanes Oxley Act of 2002: Implications for Compensation Contracts and Managerial Risk-Taking. 2007, Working paper, Northwestern University and the University of Chicago
13. Cohen D A, Dey A, Lys T Z. Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes Oxley Periods. Accounting Review 2008, 83:757-87.
14. Collins D, Masli A, Reitenga A L, Sanchez J M. Earnings Restatements, the Sarbanes-Oxley Act, and the Disciplining of Chief Financial Officers. Journal of Accounting, Auditing, and Finance 2009, 24:1-34.
15. DeFond M, Hung M, Karaoglu E, Zhang J. Was the Sarbanes-Oxley Act Good News for Corporate Bondholders. 2007, Working paper, the University of Southern California
16. Defond M L, Park C W. The Effect of Competition on CEO Turnover. Journal of Accounting and Economics 1999, 27:33-56.
17. Diamond D W, Verrecchia R E. Disclosure, Liquidity and the Cost of Capital. Journal of Finance 1991, 46:1325-59.
18. Doyle J, Ge W, McVay S. Accruals Quality and Internal Control over Financial Reporting. Accounting Review 2007, 82:1141-70.
19. Easley D, O'Hara M. Information and the Cost of Capital. Journal of Finance 2004, 59:1553-83.
20. Engel E, Hayes R M, Wang X. The Sarbanes-Oxley Act and Firms' Going-Private Decisions. Journal of Accounting and Economics 2007, 44:116-45.
21. Feng M, Ge W, Luo S, Shevlin T. Why Do CFOs Become Involved in Material Accounting Manipulations. 2009, Working paper, the University of Washington
22. Ge W, Matsumoto D, Zhang J L. Do CFOs Have Styles of Their Own? An Empirical Investigation of the Effect of Individual CFOs on Financial Reporting Practices. 2009, Working paper, the University of Washington
23. Geiger M A, North D S. Does Hiring a New CFO Change Things? An Investigation of Changes in Discretionary Accruals. Accounting Review 2006, 81:781-809.
24. Gore A, Matsunaga S, Yeung P E. The Relation Between Financial Monitoring and Incentives for Chief Financial Officers. 2008, Working paper, the University of Georgia and the University of Oregon
25. Hamilton J, Trautmann T. Sarbanes-Oxley Act of 2002: Law and Explanations 2002, Chicago, IL, CCH Inc.
26. Hammersley J S, Myers L A, Shakespeare C. Market Reactions to the Disclosure of Internal Control Weaknesses and to the Characteristics of Those Weaknesses Under Section 302 of the Sarbanes Oxley Act of 2002. Review of Accounting Studies 2008, 13:141-65.
27. Hayes R M, Oyer P, Schaefer S. Coworker Complementarity and the Stability of Top Management Teams. Journal of Law, Economics and Organization 2006, 22:184-212.
28. Hennes K M, Leone A J, Miller B P. The Importance of Distinguishing Errors from Irregularities in Restatement Research: The Case of Restatements and CEO/CFO Turnover. Accounting Review 2008, 83:1487-519.
29. Hermalin B E, Weisbach M S. Information Disclosure and Corporate Governance. 2009, Working paper, the University of California at Berkeley and Ohio State University
30. Hochberg Y V, Sapienza P, Vissing-Jorgensen A. A Lobbying Approach to Evaluating the Sarbanes Oxley Act of 2002. Journal of Accounting Research 2009, 47:519-83.
31. Hoitash U, Hoitash R, Johnstone K M. The Effects of Internal Control Quality, CFO Characteristics, and Board of Director Strength on CFO Annual Compensation. 2009, Working paper, Northeastern University and the University of Wisconsin at Madison
32. Inderst R, Muller H. CEO Replacement Under Private Information. 2008, Working paper, New York University
33. Indjejikian R, Matejka M. CFO Fiduciary Responsibilities and Annual Bonus Incentives. Journal of Accounting Research 2009, 47:1061-93.
34. Jiang J, Petroni K R, Wang I Y. CFOs and CEOs: Who Has the Most Influence on Earnings Management. Journal of Financial Economics 2009, Forthcoming
35. Kothari S P, Shu S, Wysocki P D. Do Managers Withhold Bad News. Journal of Accounting Research 2009, 47:241-76.
36. Lambert R, Leuz C, Verrecchia R E. Accounting Information, Disclosure, and the Cost of Capital. Journal of Accounting Research 2007, 45:385-420.
37. Leuz C. Was the Sarbanes Oxley Act of 2002 Really This Costly? A Discussion of Evidence from Event Returns and Going-Private Decisions. Journal of Accounting and Economics 2007, 44:146-75.
38. Leuz C, Triantis A, Wang T Y. Why Do Firms Go Dark? Causes and Economic Consequences of Voluntary SEC Deregistrations. Journal of Accounting and Economics 2008, 45:181-208.
39. Leuz C, Verrecchia R E. The Economic Consequences of Increased Disclosure. Journal of Accounting Research 2000, 38:91-124.
40. Leuz C, Wysocki P. Economic Consequences of Financial Reporting and Disclosure Regulation: A Review and Suggestions for Future Research. 2008, Working paper, the University of Chicago
41. Li C, Sun L, Ettredge M L. Financial Executive Quality, Financial Executive Turnover, and Adverse SOX 404 Opinions. Journal of Accounting and Economics 2010, 50:93-110.
42. Li H, Pincus M, Rego S O. Market Reaction to Events Surrounding the Sarbanes-Oxley Act of 2002 and Earnings Management. Journal of Law and Economics 2008, 51:111-34.
43. Linck J S, Netter J M, Yang T. The Effects and Unintended Consequences of the Sarbanes-Oxley Act, and Its Era, on the Supply and Demand for Directors. Review of Financial Studies 2009, 22:3287-3328.
44. Lobo G J, Zhou J. Did Conservatism in Financial Reporting Increase After the Sarbanes-Oxley Act? Initial Evidence. Accounting Horizons 2006, 20:57-73.
45. Mian S. On the Choice and Replacement of Chief Financial Officers. Journal of Financial Economics 2001, 60:143-75.
46. Murphy K J. Executive Compensation. Handbook of Labor Economics 2000, Vol. 3:2485-2563. Ashenfelter OCard D. edited by, Amsterdam, North-Holland
47. Ogneva M, Subramanyam K, Raghunandan K. Internal Control Weakness and Cost of Equity: Evidence from SOX Section 404 Disclosures. Accounting Review 2007, 82:1255-97.
48. Perry T, Zenner M. Pay for Performance? Government Regulation and the Structure of Compensation Contracts. Journal of Financial Economics 2001, 62:453-88.
49. Rosen S. Contracts and the Market for Executives. Contract Economics 1992, 181-211. Werin LWijkander H. edited by, Cambridge, MA, Blackwell
50. Smith C W, Watts R L. The Investment Opportunity Set and Corporate Financing, Dividend and Compensation Policies. Journal of Financial Economics 1992, 32:263-92.
51. Vancil R F. Passing the Baton: Managing the Process of CEO Succession 1987, Boston, MA, Harvard Business School Press
52. Verrecchia R E. Essays on Disclosure. Journal of Accounting and Economics 2001, 32:97-180.
53. Warner J B, Watts R L, Wruck K H. Stock Prices and Top Management Changes. Journal of Financial Economics 1988, 20:461-92.
54. Weisbach M S. Outside Directors and CEO Turnover. Journal of Financial Economics 1988, 20:431-60.
55. Zhang I X. Economic Consequences of the Sarbanes-Oxley Act of 2002. Journal of Accounting and Economics 2007, 44:74-115.