Motivated by failures of iconic corporate hallmarks like Enron and WorldCom, in July of 2002 the Sarbanes-Oxley Act was passed to prevent managerial misconduct and deceptive accounting in an effort to ensure incentives alignment between managers and shareholders. Whether the Act has been...

Stock market reaction suggests that despite improved disclosure and increased accountability, Sarbanes-Oxley Act (SOX) is too costly and not beneficial. Noting that bondholders are likely to reap the many potential benefits of SOX without bearing the brunt of costs, we examine how SOX affected...

The recent surge in the use of team-managed funds in the mutual fund industry suggests that the benefits of team management might outweigh its costs. However, extant empirical evidence is not consistent with the view that team managed funds generate superior returns relative to individual...