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Consequences of state-level regulations in accounting, finance, and corporate governance: A review

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  • Al-Hadi, Ahmed
  • Habib, Ahsan

Abstract

We review the literature on the consequences of U.S. state-level local regulations for various corporate outcomes in the accounting, finance, and corporate governance domain. We argue that state-level regulations might affect corporate outcomes through at least two channels. First, the state intervention channel that includes state regulations pertinent to auditor liability, director-liability, and shareholder litigation rights. Second, the dispute resolution channel as reflected in circuit court rulings. Our review shows that these regulatory and legal effects have had profound implications for various corporate outcomes.

Suggested Citation

  • Al-Hadi, Ahmed & Habib, Ahsan, 2023. "Consequences of state-level regulations in accounting, finance, and corporate governance: A review," Advances in accounting, Elsevier, vol. 60(C).
    • Handle: RePEc:eee:advacc:v:60:y:2023:i:c:s0882611022000499
    DOI: 10.1016/j.adiac.2022.100630
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    More about this item

    Keywords

    State-level regulation; Auditor liability; Universal demand law; Wrongful discharge law; Non-competition agreements; Circuit court rulings;
    All these keywords.

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting

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