About the Regulatory Measures
We use Federal Register, the daily journal of US regulators, to create a measure of regulatory fragmentation. The main variable, Regulatory_Fragmentation, reflects the variety of agencies a company is exposed to in a given year. Higher values of this variable suggest that a company is regulated by more agencies.
- Topic_Dispersion - Shows the dispersion of topics raised by the company in their annual reports.
- Regulation_Quantity - Reflects the amount of the relevant regulations.
We describe the construction of this data in more detail in the paper "Regulatory Fragmentation" with Joseph Kalmenovitz and Michelle Lowry.
Last update: 2020