The impact of regulation on CEO labor markets

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Abstract

I examine empirically whether the executive labor market helps to slot managers with higher education quality into jobs where they can obtain greater returns from their human capital skills. Comparing a sample of regulated gas and electric firms with manufacturing firms, I find that utilities attract CEOs with a lower-quality education than unregulated firms do. Comparing a sample of airline firms pre-and postderegulation, airlines have CEOs with a higher-quality education postderegulation. These results suggest that the labor market slots CEOs with a lower quality of education into regulated business environments.

Original languageEnglish (US)
Pages (from-to)165-179
Number of pages15
JournalRAND Journal of Economics
Volume31
Issue number1
DOIs
StatePublished - 2000
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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