Foreign issuers began delisting from United States exchanges after the enactment of Section 404 of Sarbanes-Oxley and identified that section as a leading cause of their decision to delist.
Source quote, verbatim
Foreign issuers began to delist from U.S. exchanges after the enactment of section 404, referred to this section as a leading cause for their decision to delist.
Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013). SSRN: https://ssrn.com/abstract=2273857
Holds when
foreign issuers listed on U.S. exchanges after 2002
Classification
empiricalsupport: assertedinstitutional-design
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