We find a significant decline in average corporate bondholder value around events leading up to the passage of the Sarbanes-Oxley Act (SOX), and the effect is larger among non-investment grade bonds issued by firms that are expected to experience relatively large changes under SOX. Overall, our findings are consistent with the bond market expecting the exogenously-imposed changes under SOX to make bondholders relatively worse off.
| Speaker: | Dr Mark L DeFond Joseph A DeBell Professor of Business Administration, University of Southern California |
| When: |
2.00 pm - 3.00 pm |
| Venue: | School of Accountancy [Map] Level 4, Meeting Room 4.1 |
| Contact: | Office of the Dean Email: SOAR@smu.edu.sg |