Did the Sarbanes-Oxley act impede corporate innovation? An analysis of the unintended consequences of regulation

• Main Authors: CAO, Jerry X., GHOSH, Aurobindo, GOH, Choo Yong, Jeremy, Feichin Ted TSCHANG (or F. Ted TSCHANG)
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2016
• 主題: Business and Corporate Communications; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/5114; https://ink.library.smu.edu.sg/context/lkcsb_research/article/6113/viewcontent/soxinnovation_18FEB2016_draft.pdf

We investigate whether innovation by publicly listed U.S. companies deteriorated significantly after the adoption of the Sarbanes-Oxley Act of 2002. Using data on patent filings as proxies for firms‟ innovative activities, we find firms‟ innovation as measured by patents and innovation efficiency da...