The Impact of Sarbanes Oxley on Accounting Firms and Financial Markets
Researchers at the Fogelman College of Business & Economics are investigating the
impact of the Sarbanes Oxley Act on the accounting profession and financial markets.
Early evidence suggested that the Act had positive impact on both stock prices and
market liquidity. The early results from the research have been published in premier
accounting journals such as Contemporary Accounting Research and finance journals
such as Financial Review. Continuing work examines corporate governance issues such
as options backdating, earnings restatements, listing decisions, and international
The Sarbanes Oxley Act was signed into law in 2002 in response to a number of high-profile
corporate and accounting scandals. The wide-ranging law established new or enhanced
standards for all U.S. public company boards, management and public accounting firms.
The research team comprises Dr. Pankaj K. Jain (firstname.lastname@example.org) and Dr. Zabihollah Rezaee (email@example.com). The projects have benefited greatly from Dr. Rezaees appointment to the Public
Company Accounting Oversight Board in Washington D.C. and his interaction with members
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