This study explores the effect of regulatory and political constraints on the level of CEO compensation for 87 state-regulated electric utilities during 1978-1990. The results suggest that political pressures may constrain top executive pay levels in this industry. First, CEOs of firms operating...

This article focuses on two questions in the debate over motor carrier regulation. First, did regulation create, eliminate, or have no effect on monopoly rents in the trucking industry? Second, if there were rents, what was their incidence: were they received by owners of trucking firms,...

Investigating the relationship between CEO compensation and firm diversification over 1985-1990, we find that the CEO of a firm with two lines of business averages 13% more in salary and bonus than the CEO of a similar-sized but undiversified firm, ceteris paribus. We explore two potential...

This article extends my previous work on price adjustment in long-term