Many suggested Sarbanes Oxley has handedLondona competitive advantage, and it is the reason behind the current shift of international floatation from New York to London and Hong Kong. Although the statistics does support this argument, the reason behind may not be so simple. The objectives of this dissertation are:
- To understand the background of the enactment of this Act.
- Look at the major provisions of the Sarbanes Oxley Act and try to understand their purposes.
- Moreover, to study the likely benefits as the result of the SOX on listed companies in theU.S.and also forAmerica’s investment environment.
- To get an insight of how costly it is for companies to comply with the Sarbanes Oxley Act, as well as other factors that are likely to deter companies.
- Analyse the current financial markets competition and each capital market’s strengths and weaknesses, in particular,New YorkandLondon.
- Finally, to understand the effect of SOX’s effect onLondon’s financial market, try to understand if the SOX directly contribute toLondon’s surge of capital market activities.
Through these, the dissertation may be able to answer the question of if theUSdecides to water down SOX, canLondonstill enjoy the recent growth in its capital market.
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