SOX, corporate transparency, and the cost of debt

We investigate the impact of the Sarbanes–Oxley (SOX) Act on the cost of debt through its effect on the reliability of financial reporting. Using Credit Default Swap (CDS) spreads and a structural CDS pricing model, we calibrate a firm-level corporate opacity parameter in the pre- and post-SOX perio...

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Bibliographic Details
Main Authors: Andrade, Sandro, BERNILE, Gennaro, Hood, Frederick
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2014
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Online Access:https://ink.library.smu.edu.sg/lkcsb_research/3660
https://ink.library.smu.edu.sg/context/lkcsb_research/article/4659/viewcontent/SSRN_id1257002.pdf
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Institution: Singapore Management University
Language: English