This paper uses FAS 123R regulation to examine how reduction in CEO compensation incentives affects managerial 'playing-it-safe' behavior. Using proxies reflecting deliberate managerial efforts to change firm risk, difference-in-difference tests show that affected firms drastically reduce both...

Purpose - As of December 2022, there were 119,000 gas stations, 10,800 gas stations and 4,488,000 charging piles nationwide, while the number of vehicles reached 312 million, including 11.49 million new energy vehicles. The imbalance between transportation energy supply and energy replenishment...