Cover -- Title Page -- Copyright -- Contents -- Preface -- Introduction -- Chapter 1 Virtue Lost -- Introduction -- Methodology -- Methodological Limitations -- The Modern Corporation and Virtue -- The Problem -- Business Ethics -- Is the Corporation Disordered? -- The Policy Framework -- The Regulatory Telos -- Why Consider Virtue? -- Why Principles (over Rules)? -- Why Amend (versus Punish)? -- Policy Framework (Summary) -- Conclusions -- Chapter 2 An Introduction to WorldCom: A Policy Primer -- Introduction -- WorldCom -- The Source of Conflict -- Rules versus Laws -- The Case for Intentionality -- Regulatory Contribution -- WorldCom as a Basis for the Sarbanes-Oxley Act -- Chapter 3 The Enactment Process -- Introduction -- The Enactment Process -- Create a Crisis -- Build a Consensus -- Presume Success -- Dismiss the Critics -- The Law's Effects -- Current Arguments in Favor of the Sarbanes-Oxley Act -- Institutional Precedents -- Chapter 4 CEO Perception -- Summary -- Introduction -- Summary of Relevant Literature -- Survey -- Results -- Discussion -- Appendix to Chapter 4 -- Survey Instrument -- Chapter 5 Sarbanes-Oxley's Effect on Investor Risk -- Summary -- Introduction -- Extending CAPM -- Hypotheses -- Hypothesis 1: Sarbanes-Oxley Will Reduce Firms 'Risk-Adjusted Returns -- Hypothesis 2: Sarbanes-Oxley Will Decrease Firms' Upside Risk -- Hypothesis 3: Sarbanes-Oxley Will Decrease a Firm's Downside Risk -- Evaluation of Risk -- Risk Measures -- Data and Empirical Model -- Estimation and Results -- Difference-in-Differences Analysis -- Fixed Effects Estimation -- Robustness Tests -- Discussion -- Global Regulatory Development (i.e., Ripple Effects) -- Chapter 6 An Audit of Sarbanes-Oxley -- Introduction -- A Conceptual Foundation -- Internal Controls -- The Audit Framework -- Objectives versus Efficacy -- Evaluative Framework.

Effect on Unintentional Sources of Error -- Effect on Corporate Malfeasance -- Conclusions -- Chapter 7 The Underlying Vision -- Econometrics in Policy Analysis -- A Model Predicated on ``Unobservables'' -- Knowledge Limits -- Social Causation Processes -- Intentions (versus Outcomes) -- Conclusions -- Chapter 8 The Argument for Accountability -- Introduction -- Professional Liability -- Policy Misuse -- The Case for Culpability -- The Improbability of Accountability -- Conclusions -- Chapter 9 Why Sarbanes-Oxley? -- Introduction -- Methodology -- The Port Huron Statement -- Individualism -- Egalitarianism -- A Modern Demonstration -- Why Sarbanes-Oxley? -- Notes -- About the Authors -- Index.