Did the 1999 NYSE and NASDAQ listing standard changes on audit committee composition benefit investors? Seil Kim & April Klein
Tipo de material:
ArtículoDescripción: Páginas 187 a la 212Tema(s):
En: The accounting review 2017 V.92 No.6 (Nov)Incluye tablas, referencias bibliográficas y apéndicesResumen: In December 1999, the SEC instituted a new listing standard for NYSE and NASDAQ firms. Listed firms were now required to maintain fully independent audit committees with at least three members. In July 2002, the U.S. Congress legislated these standards through the Sarbanes-Oxley Act. Our research question is whether all investors benefited from the 1999 new rule. Using both an event study and a difference-in-differences methodology, we find no evidence of higher market value or better financial reporting quality resulting from this rule.
| Tipo de ítem | Biblioteca actual | Colección | Signatura topográfica | Info Vol | Copia número | Estado | Fecha de vencimiento | Código de barras | |
|---|---|---|---|---|---|---|---|---|---|
| Revistas | Central Bogotá Sala Hemeroteca | Colección Hemeroteca | 657 (Navegar estantería(Abre debajo)) | 2017 V.92 No.6 (Nov) | 1 | Disponible | 0000002032280 |
In December 1999, the SEC instituted a new listing standard for NYSE and NASDAQ firms. Listed firms were now required to maintain fully independent audit committees with at least three members. In July 2002, the U.S. Congress legislated these standards through the Sarbanes-Oxley Act. Our research question is whether all investors benefited from the 1999 new rule. Using both an event study and a difference-in-differences methodology, we find no evidence of higher market value or better financial reporting quality resulting from this rule.