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Did Accelerated Filing Requirements and SOX Section 404 Affect the Timeliness of 10-K Filings?

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Did Accelerated Filing Requirements and SOX Section 404 Affect the Timeliness of 10-K Filings? / Impink, Joost; Lubberink, Martien; van Praag, Bart et al.
In: Review of Accounting Studies, Vol. 17, No. 2, 06.2012, p. 227–253.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Impink, J, Lubberink, M, van Praag, B & Veenman, D 2012, 'Did Accelerated Filing Requirements and SOX Section 404 Affect the Timeliness of 10-K Filings?', Review of Accounting Studies, vol. 17, no. 2, pp. 227–253. https://doi.org/10.1007/s11142-011-9172-5

APA

Impink, J., Lubberink, M., van Praag, B., & Veenman, D. (2012). Did Accelerated Filing Requirements and SOX Section 404 Affect the Timeliness of 10-K Filings? Review of Accounting Studies, 17(2), 227–253. https://doi.org/10.1007/s11142-011-9172-5

Vancouver

Impink J, Lubberink M, van Praag B, Veenman D. Did Accelerated Filing Requirements and SOX Section 404 Affect the Timeliness of 10-K Filings? Review of Accounting Studies. 2012 Jun;17(2):227–253. doi: 10.1007/s11142-011-9172-5

Author

Impink, Joost ; Lubberink, Martien ; van Praag, Bart et al. / Did Accelerated Filing Requirements and SOX Section 404 Affect the Timeliness of 10-K Filings?. In: Review of Accounting Studies. 2012 ; Vol. 17, No. 2. pp. 227–253.

Bibtex

@article{96bb91dabc69475f832b28bfedf106fb,
title = "Did Accelerated Filing Requirements and SOX Section 404 Affect the Timeliness of 10-K Filings?",
abstract = "This paper examines the effect of Sarbanes-Oxley provisions on 10-K filing delays. We find that tightened filing deadlines for accelerated and large accelerated filers are not associated with changes in the incidence of late filing. While Section 404 compliance does not affect filing timeliness for firms with effective internal controls, we find that about half the firms disclosing internal control weaknesses are late filers. As a consequence, many Section 404 material weakness firms experience negative abnormal returns around late filing notifications before filing the 10-K. Lastly, we find that market reactions to late filing notifications are more negative when management provides no meaningful explanation for the delay, consistent with managers{\textquoteright} incentives to withhold bad news.",
keywords = "Form 10-K , Rule 12b-25 , Accelerated filing , SOX Section 404 , Internal controls",
author = "Joost Impink and Martien Lubberink and {van Praag}, Bart and David Veenman",
year = "2012",
month = jun,
doi = "10.1007/s11142-011-9172-5",
language = "English",
volume = "17",
pages = "227–253",
journal = "Review of Accounting Studies",
issn = "1380-6653",
publisher = "Springer New York",
number = "2",

}

RIS

TY - JOUR

T1 - Did Accelerated Filing Requirements and SOX Section 404 Affect the Timeliness of 10-K Filings?

AU - Impink, Joost

AU - Lubberink, Martien

AU - van Praag, Bart

AU - Veenman, David

PY - 2012/6

Y1 - 2012/6

N2 - This paper examines the effect of Sarbanes-Oxley provisions on 10-K filing delays. We find that tightened filing deadlines for accelerated and large accelerated filers are not associated with changes in the incidence of late filing. While Section 404 compliance does not affect filing timeliness for firms with effective internal controls, we find that about half the firms disclosing internal control weaknesses are late filers. As a consequence, many Section 404 material weakness firms experience negative abnormal returns around late filing notifications before filing the 10-K. Lastly, we find that market reactions to late filing notifications are more negative when management provides no meaningful explanation for the delay, consistent with managers’ incentives to withhold bad news.

AB - This paper examines the effect of Sarbanes-Oxley provisions on 10-K filing delays. We find that tightened filing deadlines for accelerated and large accelerated filers are not associated with changes in the incidence of late filing. While Section 404 compliance does not affect filing timeliness for firms with effective internal controls, we find that about half the firms disclosing internal control weaknesses are late filers. As a consequence, many Section 404 material weakness firms experience negative abnormal returns around late filing notifications before filing the 10-K. Lastly, we find that market reactions to late filing notifications are more negative when management provides no meaningful explanation for the delay, consistent with managers’ incentives to withhold bad news.

KW - Form 10-K

KW - Rule 12b-25

KW - Accelerated filing

KW - SOX Section 404

KW - Internal controls

U2 - 10.1007/s11142-011-9172-5

DO - 10.1007/s11142-011-9172-5

M3 - Journal article

VL - 17

SP - 227

EP - 253

JO - Review of Accounting Studies

JF - Review of Accounting Studies

SN - 1380-6653

IS - 2

ER -