• DOI:10.1177/0148558X9701200303
Corpus ID: 153498203

CEO Compensation in a Regulatory Environment: An Analysis of the Electric Utility Industry

@article{Bryan1997CEOCI,
  title={CEO Compensation in a Regulatory Environment: An Analysis of the Electric Utility Industry},
  author={Stephen Bryan and L. Hwang},
  journal={Journal of Accounting, Auditing & Finance},
  year={1997},
  volume={12},
  pages={223 - 251}
}

Stephen Bryan, L. Hwang

Published 1997

Economics

Journal of Accounting, Auditing & Finance

Prior studies argue that a firm's investment opportunity set affects the level of information asymmetry and thereby the structure of CEO compensation. We test whether the political constraints imposed in a regulatory environment incrementally affect both the level and the structure of CEO compensation, while controlling for the effects of investment opportunity set and other firm characteristics. We hypothesize that increased political constraints reduce the need and the opportunity to pay… CONTINUE READING

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