We examine a rapidly emerging regulatory approach that we label management-based regulation. Management-based regulation shifts the locus of policy discretion from the government regulator to the regulated entity. Government directs private firms to incorporate public goals into their management...

We analyze a little-studied regulatory approach that we call management-based regulation. Management-based regulation directs regulated organizations to engage in a planning process that aims toward the achievement of public goals, offering firms flexibility in how they achieve these goals. The...