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We investigate involuntary chief executive officer (CFO) turnover following earnings restatements, the labor market penalties imposed on former restatement-firm CFOs, and whether these disciplinary consequences have increased following the passage of the Sarbanes-Oxley Act of 2002 (SOX). Our results suggest that firms restating earnings have higher rates of(More)
We analyze the potential benefits that firms can realize from implementing technology specifically aimed at monitoring the effectiveness of their internal control systems. The Committee of Sponsoring Organizations of the Treadway Commission asserts that effective internal control monitoring should enhance the efficiency of internal control processes, and in(More)
The Sarbanes-Oxley Act of 2002 (SOX) was established to strengthen internal controls over financial reporting by U.S. public firms and, as a consequence, to increase investor and stakeholder confidence in published financial reports. Among the many SOX provisions, SOX 404 requires an annual assessment by the firm’s executive management and external auditor(More)
CEOs and their management teams decide how much a firm will spend on IT. Though managers make IT spending decisions with the intent of generating value, such benefits are risky and not guaranteed (Dewan et al. 2007). While CEOs may perceive that IT spending could translate into competitive advantage and increase productivity, they also realize that IT(More)
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