The Sarbanes-Oxley Act and the private company discount: An empirical investigation

James DiGabriele

CRITICAL PERSPECTIVES ON ACCOUNTING, 2008, vol. 19, issue 8, 1105-1121

Abstract: While criticism of the Sarbanes-Oxley Act of 2002 (SOX) typically focuses on its negative impact on small public companies, this study uses acquisition data to empirically investigate whether the Sarbanes-Oxley Act impacts the value of private firms. This study presents strong evidence that the private firm discount was greater post-SOX. The evidence represents support for the argument that SOX has been more detrimental for private companies than for public companies.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eee:crpeac:v:19:y:2008:i:8:p:1105-1121

DOI: 10.1016/j.cpa.2007.03.005

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