We review and assess research findings from more than 120 papers in accounting, finance,
and law to evaluate the impact of the Sarbanes-Oxley Act. We describe significant …

We find that connections CEOs develop with top executives and directors through their
appointment decisions increase the risk of corporate fraud. Appointment‐based CEO …

The use of stock-based compensation as a solution to agency problems between
shareholders and managers has increased dramatically since the early 1990s. We show …

We examine how a firm's incentive to commit fraud when going public varies with investor
beliefs about industry business conditions. Fraud propensity increases with the level of …

Firms sometimes commit fraud by altering publicly reported information to be more
favorable, and investors can monitor firms to obtain more accurate information. We study …

This study investigates the key factors that elicit financial reporting fraud among companies
in Malaysia. Using enforcement action releases issued by the Security Commission of …

We argue that when managers have private information about the productivity of assets
under their control and receive private benefits, substantial bonuses are required to induce …

In this paper, I survey the recent research in corporate finance on financial securities frauds.
I structure my review around the three subjects in this literature: studies of internal and …

This paper analyzes executive compensation in a setting where managers may take a costly
action to manipulate corporate performance, and whether managers do so is stochastic. We …

This paper studies the level and dynamics of the value of aggregate liquidity induced by
firms' financing shortfalls. We model liquidity and cash flows as internal funds available for …