Using a variance components model, this paper examines the economic and political variables that may affect the rate of return on equity allowed electric utilities. The evidence indicates that both the risk and the size of the firm are positively related to the allowed return on equity. The use...

In this study we examine the consistency between lobbying choices and insider trading behaviour by managers before and after the issuance of the 1974 FASB Exposure Draft on R&D. The results, though not very strong, indicate that managers compensated by accounting-based schemes lobbied against...

Purpose – The purpose of this paper is to focus upon the financial performance of firms that maintain headquarters in the largest cities and firms based in smaller metropolitan areas. Big city locations offer numerous opportunities. On the other hand, maintaining headquarters in big cities is...