VideoIt also noted that small firms remaining public may have "benefited more from SOX than the exiting firms lost because increased transparency raised investor confidence in them."
As a final note, RAND commented that these reviews are of "only the early post-SOX period, and it is important to learn whether the initial effects represented one-time or recurring effects." Therefore, it said, "the puzzle surrounding SOX's overall effect is far from being resolved. Additional empirical studies will almost certainly continue to inform the policy debate over the coming years."
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