account key institutional features of EU public utilities, such as: a) regulation by agencies with various degrees of …

the implementation of different regulatory mechanisms (cost plus vs. incentive regulation) and to firm ownership (state vs … to incentive regulation smooth their dividends less than firms subject to cost-based regulation and present higher impact … following the adoption of incentive regulation, they adopt a dividend policy more responsive to earnings variability and more …

firms as well as the impact of different regulatory schemes -- incentive vs. cost-based regulation -- on CEO monetary … schemes, our results show that pay-performance sensitivity is significantly higher for firms under incentive regulation than … within firms under cost-based regulation. This result holds after controlling for firm -- private vs. state -- ownership and …