Economic Laws, Necessities or Obstacles for Growing Companies?
The objective of this paper is to discuss about economic laws in relation with companies development. They surely exist in every country, in different manners. It is important to understand if they are really important in the process of developing a company, or they are simply obstacles. In 2001, Enron was recording the biggest bankruptcy, at that moment, in the USA history. Soon after that, Sarbanes-Oxley Law was implemented very quickly for all the companies in USA. The purpose of the law was to avoid another similar case of Enron to happen in the American economy.
But was that fair for all other thousands of companies from SUA to be obliged to pay for the implementation of such a drastic law? Up until this law exists, most of them had a good trajectory of development, not to mention that they were ethical and legal in procedures. It is important for a company to have laws created by the state in order to have a good development? Where is the liberty offered by the state to companies in order to develop in a libertarian manner? Is there any? In this project I want to discuss about the importance of the Sarbanes-Oxley law in SUA based on empirical data collected from different books and specialist analysis. The aim of this paper is to emphasize the importance of the economic laws for the life of a company in a long term vision. In particular, I will argue that the economic laws can be considered obstacles and necessities.
. Clark H. Sarbanes-Oxley Goes Global; 2006. Retrieved from: https://www.forbes.com/2006/07/13/leadership-sarbox-governance-cx_hc_0713sarboxgoesglobal.html#743d468d65c0
. Dauber N., Qureshi A. A., Levine H. M, Siegel G. J. Auditing standards including the Standards of the PCAOB, Thompson Publishing House, Crawfordsville; 2005.
. Dumitrascu M. Corporate Governance and corporate social responsibility, the pillars of sustainability, ASE Publishing House, Bucharest; 2015.
. Ghita M. Guvernanta corporativa, Bucharest, Economica Publishing House; 2008.
. Green S. Manager’s Guide to the Sarbanes-Oxley Act, John Willey and Sons LTD Publishing House; 2004
. Masters B. Enron fails raised the bar in regulation; 2011. Retrieved from: https://www.ft.com/content/9790ea78-1aa9-11e1-ae14-00144feabdc0
. Morgenson G. Sarbanes-Oxley, Bemoaned as a Burden, is an Investor’s Ally. Retrieved from: https://www.nytimes.com/2017/09/08/business/sarbanes-oxley-investors.html
. Paulsen S. Workers lose jobs, health care and savings at Enron; 2002. Retrieved from: https://www.wsws.org/en/articles/2002/01/enro-j14.html
. Peregrine M. Sarbanes-Oxley changed America; 2012. Retrieved from: https://www.nytimes.com/roomfordebate/2012/07/24/has-sarbanes-oxley-failed/sarbanes-oxley-changed-corporate-america
. Thompson M. The Effects od Sarbanes-Oxley on small business: more than you might think; 2017. Retrieved from:
. Sarbanes-Oxley Act, 2002. Retrieved from: http://www.sarbanes-oxley-101.com/sarbanes-oxley-toc.htm
. World Bank, Doing Business, Washington D.C.; 2008.
Copyright (c) 2018 LUMEN Proceedings
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Selection and peer-review under responsibility of the Organizing Committee of the conference.
This is an Open Access article distributed under the terms of the Creative Commons Attribution-Noncommercial 4.0 Unported License, permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited