REFORMING CORPORATE GOVERNANCE VIA LEGISLATION IN THE UNITED STATES – THE CASE OF THE SARBANES-OXLEY ACT

Abstract

The scope of this paper is to evaluate the Sarbanes-Oxley Act from a legislative theoretical point of view with the aid of showing some theories on legislation, a field which came to the forefront of jurisprudence in relatively recent times in Anglo-American jurisprudence. The intention is to show that Sarbanes-Oxley Act was a piece of suboptimal legislation, by comparing and contrasting it to some normative theories.

Keywords

• Sarbanes-Oxley Act
• optimal-legislation
• lawmaking
• efficiency of law
• efficacy of law