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Role of Disclosure in Corporate Governance



Preserving investor confidence in the integrity of our securities markets and the accuracy of financial information is an enormously important goal. The mutual fund industry endorsed the Sarbanes-Oxley Act because of the pressing need to bolster the independence of the accounting standard-setting process, strengthen the oversight of public auditing and increase the authority and resources of the Securities and Exchange Commission. This paper examines the effects of disclosure and other corporate governance mechanisms on the cost of equity capital in Asia's emerging markets with newly released surveys from Credit Lyonnais Securities Asia (CLSA).

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