کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5086507 1478180 2017 52 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Is the SEC captured? Evidence from comment-letter reviews
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
Is the SEC captured? Evidence from comment-letter reviews
چکیده انگلیسی
SEC oversight of publicly listed firms ranges from comment letter (CL) reviews of firms' reporting compliance to pursuing enforcement actions against violators. Prior literature finds that firm political connections (PC) negatively predict enforcement actions, inferring SEC capture. We present new evidence that firm PC positively predict CL reviews and substantive characteristics of such reviews, including the number of issues evaluated and the seniority of SEC staff involved. These results, robust to identification concerns, are inconsistent with SEC capture and indicate a more nuanced relation between firm PC and SEC oversight than previously suggested.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Accounting and Economics - Volume 64, Issue 1, August 2017, Pages 98-122
نویسندگان
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