Cicero, David; Wintoki, M. Babajide; Yang, Tina - In: Journal of Corporate Finance 23 (2013) C, pp. 108-127
We show that public companies frequently changed their board structures before implementation of the Sarbanes–Oxley Act, with two-thirds of firms changing board size or independence during an average two-year period. Board changes were associated with changes in firm-specific fundamentals, but...