A Pox on Both Your Houses: Enron, Sarbanes-Oxley and the Debate Concerning the Relative Efficacy of Mandatory Versus Enabling Rules

Abstract

The main point of this Article is that the “demand-side” of U.S. capital markets is not functioning effectively, at least with respect to certain kinds of information.

Keywords

Financial disclosure, Securities, Capital market, Corporate governance, Sarbanes-Oxley Act of 2002

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Authors

Jonathan R. Macey (Cornell University)

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