Previous studies have shown that regulated firms diversify for reasons that are different than for unregulated firms. We explore some of these differences by providing a theoretical model that starts by considering the firm-regulator relationship as an incomplete information issue, in which a...

Purpose - This paper aims to examine the effects on firms' outcomes of a new government regulation on the private security industry that aimed to enhance the selection and training processes for armed-private security officers. Design/methodology/approach - By using human capital theory and...