The Valuation Treadmill is a history of securities fraud regulation in the United States from the 1960s to the present. Drawing on case studies of paradigmatic securities enforcement actions involving Xerox, Penn Central, Apple, Enron, Citigroup, and General Electric, the book argues that corporate securities fraud emerged as a major regulatory concern as investors increasingly valued companies based on their future performance. It contends that the structural pressure on public companies to meet short-term projections necessitates structural responses such as the Sarbanes-Oxley Act of 2002.
About the Speaker:
James Park is Professor of Law at UCLA School of Law. He is an expert on corporate law and securities regulation. His research examines the regulation of securities fraud and corporate governance in public companies. Professor Park has written more than twenty law review articles that have been published in journals such as the California Law Review, Duke Law Journal, Journal of Empirical Legal Studies, Michigan Law Review, and UCLA Law Review. His book, The Valuation Treadmill: How Securities Fraud Threatens the Integrity of Public Companies, was published by Cambridge University Press in 2022. After graduating from Yale Law School, Professor Park clerked for federal judges in the Southern District of New York and U.S. Court of Appeals for the Second Circuit. He practiced law in New York City at a law firm and then as an Assistant Attorney General in the Investor Protection Bureau of the New York State Attorney General’s Office.