Volume 17 (2015)
Volume 16 (2014)
Volume 15 (2013)
Volume 14 (2012)
Volume 13 (2011)
Volume 12 (2010)
Volume 11 (2009)
Most Downloaded Articles
- All politics is local, but lobbying is federal and local: the validity of LDA data by Clemens, Austin C.
- Regulation and Economic Globalization: Prospects and Limits of Private Governance by Mayer, Frederick and Gereffi, Gary
- Private Regulation in the Global Economy: A (P)Review by Büthe, Tim
- Corporate Political Donations: Investment or Agency? by Aggarwal, Rajesh K./ Meschke, Felix and Wang, Tracy Yue
Legislators v. Regulators: The Case of Low Power FM Radio
1Manhattan Institute and The Wharton School
2Franklin and Marshall College
Citation Information: Business and Politics. Volume 7, Issue 1, ISSN (Online) 1469-3569, DOI: 10.2202/1469-3569.1104, April 2005
- Published Online:
The Federal Communications Commission rule making for low power FM radio was widely reported as an instance where Congress sharply rebuked a regulatory agency for enacting rules too favorable to entrants. Theories of bureaucratic control generally agree that when such events occur, policy differences of Congress and the agency must be large. Because rival policy positions are quantifiable in this case, the preferences of Congress and the Commission can be directly evaluated. While the distance between the policy position of the Commission and Congress appear large, they signified a negligible increment in competition when compared to a benchmark efficient policy. A financial event study supports this interpretation, as radio broadcasters equity values were not materially affected by either events in Congress or the Commission. Thus, even marginal differences may prompt a costly intervention by Congress to ostensibly discipline an agency.
Here you can find all Crossref-listed publications in which this article is cited. If you would like to receive automatic email messages as soon as this article is cited in other publications, simply activate the “Citation Alert” on the top of this page.