The wealth effect and diamond risk structure of financial regulation

Pham, Huy; Ramiah, Vikash; Moosa, Imad A.; Moyan, Leslie

doi:10.1080/00036846.2017.1380287

Cited by 4 publications

(2 citation statements)

References 33 publications

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“…One strand of this literature uses event research methods to examine the impact of regulatory announcements on capital markets (Antoniou and Pescetto 1997; Pham et al . 2017; Ramiah et al . 2013).…”

Section: Institutional Background and Literature Reviewmentioning

confidence: 99%

“…In recent years, the academic literature has begun studying the economic consequences of regulatory announcements. One strand of this literature uses event research methods to examine the impact of regulatory announcements on capital markets (Antoniou and Pescetto 1997;Pham et al 2017;Ramiah et al 2013). Another strand examines the changes brought to corporate governance by the Sarbanes-Oxley Act.…”

Section: Institutional Background and Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Can Reform of Information Disclosure by an Exchange Restrain Corporate Fraud? Evidence from China*

Wang¹,

Zhao²,

Zhang³

2022

Asia-Pac J of Fin Stud

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This study examines the impact of information disclosure system reform (IDSR) on corporate fraud. IDSR includes the internet-based communication platforms and the introduction of assessment methods for information disclosure. The study finds that reform in the Shenzhen Stock Exchange (SZSE) reduces the probability, frequency, and severity of corporate fraud. In contrast, the reform in the Shanghai Stock Exchange (SSE) has no such effect. The negative association between the SZSE reform and corporate fraud is more evident for firms with weak internal controls and modified audit opinions. This study suggests disclosing companies' ranking in information disclosure assessments to the public to improve governance.

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Section: Institutional Background and Literature Reviewmentioning

confidence: 99%

Section: Institutional Background and Literature Reviewmentioning

confidence: 99%