The Impact of Regulation on CEO Labor Markets
实证检验了监管是否影响CEO教育质量与岗位匹配，发现受监管企业（如公用事业）的CEO教育质量低于非监管企业，而放松管制后（如航空业）CEO教育质量提升。
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 do unregulated firms. 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.