Which of the following statements is TRUE?

Question $18$ options:

The relative low cost of compliance with the Sarbanes$-$Oxley Act has been surprising benefit of the act.

Investor protection is typically better in countries with codified civil law $($such as France$)$ than in countries with a legal system based on English common law.

Regarding comparative corporate governance regimes: Bank$-$based regimes characterized by government influence in bank lending and a lack of transparency is often found in countries such as Korea and Germany.

Having Anglo$-$Americans as members of the board of directors of a non$-$Anglo$-$American firm signals poor corporate governance in the firm.