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To comply or not to comply: understanding the discretion in reporting public float and SEC regulations

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TypeOfResource
Text
TitleInfo
Title
To comply or not to comply: understanding the discretion in reporting public float and SEC regulations
Name (type = personal); (authority = orcid); (authorityURI = http://id.loc.gov/vocabulary/identifiers/orcid.html); (valueURI = http://orcid.org/0000-0003-1081-9696)
NamePart (type = family)
Gao
NamePart (type = given)
Feng
Affiliation
Accounting & Information Systems, Rutgers University
Role
RoleTerm (type = text); (authority = marcrt)
author
Name (type = corporate); (authority = RutgersOrg-Department)
NamePart
Accounting & Information Systems
Name (type = corporate); (authority = RutgersOrg-School)
NamePart
Rutgers Business School-Newark and New Brunswick (RBS)
Genre (authority = RULIB-FS)
Article, Refereed
Genre (authority = NISO JAV)
Accepted Manuscript (AM)
Note (type = peerReview)
Peer reviewed
OriginInfo
DateCreated (encoding = w3cdtf); (qualifier = exact); (keyDate = yes)
2016
Language
LanguageTerm (authority = ISO 639-3:2007); (type = text)
English
PhysicalDescription
InternetMediaType
application/pdf
Extent
1 online resource (45 pages)
Extension
DescriptiveEvent
Type
Citation
DateTime (encoding = w3cdtf)
2016
AssociatedObject
Name
Contemporary Accounting Research
Type
Journal
Relationship
Has part
Detail
1075-1100
Identifier (type = volume and issue)
33(3)
Reference (type = url)
https://doi.org/10.1111/1911-3846.12170
Subject (authority = local)
Topic
SEC regulations
Subject (authority = local)
Topic
Public float
Subject (authority = local)
Topic
Sarbanes -Oxley Act
Subject (authority = local)
Topic
Section 404
Subject (authority = local)
Topic
Security registration
Abstract (type = abstract)
This paper documents how firms exercise discretion in defining affiliates and reporting public float in response to SEC regulations. I find that firms with higher expected compliance costs under Section 404 of the Sarbanes-Oxley Act (SOX) of 2002 tend to classify more shares as affiliated and report lower public float. In contrast, firms issuing seasoned equity are less likely to underreport public float, possibly due to favorable regulatory treatment for large issuers. These incentives are weakened when future regulatory changes render float less important.
RelatedItem (type = host)
TitleInfo
Title
Gao, Feng
Identifier (type = local)
rucore30267900001
Location
PhysicalLocation (authority = marcorg); (displayLabel = Rutgers, The State University of New Jersey)
NjNbRU
Identifier (type = doi)
doi:10.7282/t3-qqq1-pj94
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RightsDeclaration (AUTHORITY = FS); (TYPE = [FS] statement #1); (ID = rulibRdec0004)
Copyright for scholarly resources published in RUcore is retained by the copyright holder. By virtue of its appearance in this open access medium, you are free to use this resource, with proper attribution, in educational and other non-commercial settings. Other uses, such as reproduction or republication, may require the permission of the copyright holder.
Copyright
Status
Copyright protected
Availability
Status
Open
Reason
Permission or license
RightsEvent
Type
Permission or license
AssociatedObject
Type
License
Name
Sole author license v. 1
Detail
I hereby grant to Rutgers, The State University of New Jersey (Rutgers) the non-exclusive right to retain, reproduce, and distribute the deposited work (Work) in whole or in part, in and from its electronic format, without fee. This agreement does not represent a transfer of copyright to Rutgers.Rutgers may make and keep more than one copy of the Work for purposes of security, backup, preservation, and access and may migrate the Work to any medium or format for the purpose of preservation and access in the future. Rutgers will not make any alteration, other than as allowed by this agreement, to the Work.I represent and warrant to Rutgers that the Work is my original work. I also represent that the Work does not, to the best of my knowledge, infringe or violate any rights of others.I further represent and warrant that I have obtained all necessary rights to permit Rutgers to reproduce and distribute the Work and that any third-party owned content is clearly identified and acknowledged within the Work.By granting this license, I acknowledge that I have read and agreed to the terms of this agreement and all related RUcore and Rutgers policies.
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Technical

RULTechMD (ID = TECHNICAL1)
ContentModel
Document
CreatingApplication
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1.6
DateCreated (point = end); (encoding = w3cdtf); (qualifier = exact)
2016-08-16T09:10:42
DateCreated (point = end); (encoding = w3cdtf); (qualifier = exact)
2016-08-16T09:10:42
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Acrobat Distiller 10.0.0 (Windows)
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