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Ideoblog: Is mandatory disclosure necessary?

Ideoblog: Is mandatory disclosure necessary?

by Rick Turoczy on April 17, 2006

Larry Ribstein writes…

I’ve been arguing, e.g., here, that SOX, in addition to its manifest costs, has dubious benefits because of the market’s ability to promote the necessary disclosure. That’s an easy point to make now, because SOX comes on top of 70 years of disclosure laws. But apparently the argument works even for the original securities laws, according to Mahoney & Pei, Mandatory vs. Contractual Disclosure in Securities Markets: Evidence from the 1930s.

Ideoblog: Is mandatory disclosure necessary?

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