Is Sarbanes-Oxley Impairing Corporate Risk-Taking?

Monday, June 18, 2007 | 3:00 p.m. – 5:00 p.m.

Wohlstetter Conference Center, Twelfth Floor, AEI 1150 Seventeenth Street, N.W., Washington, D.C. 20036

About This Event

Online registration for this event is closed. Walk-in registrations will be accepted.

Most of the controversy surrounding Sarbanes-Oxley has focused on its direct, tangible costs, especially the cost of creating, installing, and auditing internal controls under section 404. But there are many intangible ways in which this legislation could be even more harmful to the U.S. economy. In this conference, participants will consider a paper by Kenneth Lehn and colleagues of the University of Pittsburgh on whether Sarbanes-Oxley is impairing corporate risk-taking.

Agenda

1:45 p.m.	Registration

2:00	Introduction:	Peter J. Wallison, AEI

2:15	Presenters:	Kenneth M. Lehn, University of Pittsburgh, Katz Graduate School of Business
		Leonce L. Bargeron, University of Pittsburgh, Katz Graduate School of Business
		Chad J. Zutter, University of Pittsburgh, Katz Graduate School of Business

	Discussants:	Charles W. Calomiris, AEI and Columbia University
		Allen Ferrell, Harvard Law School
		Kate Litvak, University of Texas at Austin School of Law

	Moderator:	Peter J. Wallison, AEI

4:00	Adjournment

Event Materials

Is Sarbanes-Oxley Impairing Corporate Risk-Taking?

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AEI Participants

Charles W.
Calomiris

Charles W. Calomiris is the Henry Kaufman Professor of Financial Institutions at Columbia Business School. He is also a research associate at the National Bureau of Economic Research, a member of the Shadow Financial Regulatory Committee and the Financial Economists Roundtable, and the coordinator of the Bank Performance and the Economy program at the Center for Financial Research at the Federal Deposit Insurance Corporation. Until 2007, he was the co-director of AEI's Financial Deregulation Project. His research at AEI spanned several areas, from banking and corporate finance to financial history and monetary economics. Calomiris also served on the 2000 International Financial Institution Advisory Commission. Known as the Meltzer Commission, this congressionally mandated group recommended specific reforms of the International Monetary Fund, the World Bank, the regional development banks and the World Trade Organization to the U.S. government.
Phone: 2128548748
Email: ccalomiris@aei.org

R. Richard
Geddes

Rick Geddes is associate professor in the Department of Policy Analysis and Management at Cornell University. His research fields include private infrastructure investment through public-private partnerships, postal service policy, corporate governance, women's property rights, and antitrust policy. He is a Research Associate at the Mineta Transportation Institute, and a visiting scholar at the American Enterprise Institute. He was a Fulbright Senior Scholar at Australian National University in Canberra in the fall of 2009, and a Visiting Researcher at the Australian Government's Productivity Commission in the spring of 2010. His research focused on Australian public-private partnerships in both positions. Geddes teaches courses at Cornell on corporate governance and the regulation of industry.

In addition to his teaching and research at Cornell, Geddes served as a commissioner on the National Surface Transportation Policy and Revenue Study Commission, which submitted its report to Congress in January 2008. He has held positions as a senior staff economist on the President's Council of Economic Advisers, Visiting Faculty Fellow at Yale Law School, and National Fellow at the Hoover Institution at Stanford University.

In 2008, Geddes received the Kappa Omicron Nu/Human Ecology Alumni Association Student Advising Award. His published work has appeared in the American Economic Review, the Journal of Regulatory Economics, the Encyclopedia of Law and Economics, the Journal of Legal Studies, the Journal of Law, Economics, and Organization, the Journal of Law and Economics, the Journal of Law, Economics, and Policy, and Managerial and Decision Economics, among others.
Email: rrg24@cornell.edu
Assistant Info
Name: Neil McCray
Phone: 2028625826
Email: neil.mccray@aei.org