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Title: The role of corporate governance during the pre-and post-Sarbanes Oxley periods
Authors: Ng, AC
Mensah, YM
Keywords: Corporate governance
Earnings quality
Value-relevance of earnings
Sarbanes-Oxley Act
Issue Date: 2010
Source: International journal of corporate governance, 2010, v. 2, no. 1, p. 58-86 How to cite?
Journal: International journal of corporate governance 
Abstract: This study examines the joint effects of the passing of Sarbanes-Oxley Act (SOX) of 2002 and firm-specific corporate governance mechanisms on the value-relevance of earnings. We find that value-relevance of earnings is significantly different for different sub-periods. We find that good corporate governance (proxied by lack of anti-takeover provisions) has a positive impact on the value-relevance of earnings only during the scandal (SCA) period. These results hold after controlling for changes in institutional ownership and earnings quality (EQ). Our results suggest that there is a substitution effect between good firm-specific corporate governance mechanisms and the strictness of the regulatory environment.
ISSN: 1754-3037(Print)
DOI: 10.1504/IJCG.2010.035235
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