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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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2014
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| Subjects: | |
| 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 |