| INDUSTRY . | REG . | ROL . | med(SG&A) . | sum(SG&A) . |
|---|---|---|---|---|
| Chemical Manuf. (325) | 64,575 | 0.624 | 63.2065 | 487,295 |
| Petroleum and Coal Products Manuf. (324) | 57,784 | 0.535 | 778.85 | 86,324.5 |
| Educational Services (611) | 46,543 | 0.593 | 164.508 | 15,090.2 |
| Waste Management and Remediation Services (562) | 44,185 | 0.453 | 49.0115 | 5,398.17 |
| Air Transportation (481) | 42,829 | 0.422 | 296.076 | 22,076.9 |
| Credit Intermediation and Related Activities (522) | 37,598 | 0.392 | 75.979 | 368,121 |
| Animal Production and Aquaculture (112) | 32,114 | 0.295 | 198.631 | 198.631 |
| Paper Manuf. (322) | 30,976 | 0.488 | 528 | 22,596.3 |
| Securities Commodity Contracts and Financial Inv. (523) | 26,429 | 0.447 | 59.644 | 18,886.3 |
| Transportation Equip. Manuf. (336) | 25,914 | 0.432 | 200.226 | 156,261 |
| Support Activities for Transportation (488) | 24,337 | 0.457 | 67.285 | 1,011.39 |
| Utilities (221) | 24,065 | 0.357 | 48.922 | 811.716 |
| Funds Trusts and Other Financial Vehicles (525) | 17,152 | 0.297 | 29.9165 | 119.74 |
| Social Assistance (624) | 16,758 | 0.357 | 254.103 | 254.103 |
| Beverage and Tobacco Product Manuf. (312) | 16,138 | 0.393 | 740.618 | 105,565 |
| Crop Production (111) | 15,450 | 0.643 | 30.363 | 4,975.87 |
| Food and Beverage Stores (445) | 12,854 | 0.545 | 868.912 | 50,530.2 |
| Mining (except Oil and Gas) (212) | 12,441 | 0.483 | 35.2 | 11,071.4 |
| Motion Picture and Sound Recording Industries (512) | 11,996 | 0.390 | 80.6 | 5,149.93 |
| Ambulatory Health Care Services (621) | 11,937 | 0.225 | 117.411 | 68,398.1 |
| Insurance Carriers and Related Activities (524) | 11,511 | 0.337 | 173.9 | 111,413 |
| Wood Product Manuf. (321) | 11,242 | 0.462 | 246.797 | 7,116.73 |
| Nonmetallic Mineral Product Manuf. (327) | 11,221 | 0.543 | 99.398 | 12,162.9 |
| Water Transportation (483) | 9,958 | 0.422 | 29.13 | 8,082.4 |
| Food Manuf. (311) | 9,702 | 0.586 | 219.147 | 47,255.4 |
| Telecommunications (517) | 8,417 | 0.338 | 235.331 | 148,396 |
| Primary Metal Manuf. (331) | 7,187 | 0.668 | 185.352 | 17,005.3 |
| Pipeline Transportation (486) | 7,170 | 0.493 | 61 | 2,458.1 |
| Oil and Gas Extraction (211) | 6,456 | 0.380 | 53.617 | 13,864.8 |
| Electrical Equip. Appliance and Component Manuf. (335) | 3,927 | 0.675 | 80.879 | 39,607.6 |
| Merchant Wholesalers Nondurable Goods (424) | 3,648 | 0.635 | 238.376 | 48,943.8 |
| Construction of Buildings (236) | 3,418 | 0.429 | 390.619 | 15,058.7 |
| Support Activities for Mining (213) | 3,096 | 0.547 | 73.6005 | 6,850.19 |
| Nonstore Retailers (454) | 3,064 | 0.404 | 208.158 | 181,023 |
| Merchant Wholesalers Durable Goods (423) | 2,926 | 0.485 | 320.918 | 48,819.9 |
| Wholesale Electronic Markets and Agents and Brokers (425) | 2,079 | 0.517 | 185.611 | 185.611 |
| Support Activities for Agriculture and Forestry (115) | 1,642 | 0.507 | 6.916 | 6.916 |
| Machinery Manuf. (333) | 1,623 | 0.609 | 170.04 | 95,887.3 |
| Computer and Electronic Product Manuf. (334) | 1,161 | 0.640 | 131.034 | 371,863 |
| Plastics and Rubber Products Manuf. (326) | 887 | 0.545 | 341.54 | 8,666.38 |
| Other Information Services (519) | 725 | 0.320 | 265.546 | 244,612 |
| Amusement Gambling and Recreation Industries (713) | 465 | 0.519 | 166.469 | 10,010.4 |
| Real Estate (531) | 406 | 0.442 | 42.2235 | 28,174.1 |
| Data Processing Hosting and Related Services (518) | 317 | 0.570 | 201.626 | 248,030 |
| INDUSTRY . | REG . | ROL . | med(SG&A) . | sum(SG&A) . |
|---|---|---|---|---|
| Chemical Manuf. (325) | 64,575 | 0.624 | 63.2065 | 487,295 |
| Petroleum and Coal Products Manuf. (324) | 57,784 | 0.535 | 778.85 | 86,324.5 |
| Educational Services (611) | 46,543 | 0.593 | 164.508 | 15,090.2 |
| Waste Management and Remediation Services (562) | 44,185 | 0.453 | 49.0115 | 5,398.17 |
| Air Transportation (481) | 42,829 | 0.422 | 296.076 | 22,076.9 |
| Credit Intermediation and Related Activities (522) | 37,598 | 0.392 | 75.979 | 368,121 |
| Animal Production and Aquaculture (112) | 32,114 | 0.295 | 198.631 | 198.631 |
| Paper Manuf. (322) | 30,976 | 0.488 | 528 | 22,596.3 |
| Securities Commodity Contracts and Financial Inv. (523) | 26,429 | 0.447 | 59.644 | 18,886.3 |
| Transportation Equip. Manuf. (336) | 25,914 | 0.432 | 200.226 | 156,261 |
| Support Activities for Transportation (488) | 24,337 | 0.457 | 67.285 | 1,011.39 |
| Utilities (221) | 24,065 | 0.357 | 48.922 | 811.716 |
| Funds Trusts and Other Financial Vehicles (525) | 17,152 | 0.297 | 29.9165 | 119.74 |
| Social Assistance (624) | 16,758 | 0.357 | 254.103 | 254.103 |
| Beverage and Tobacco Product Manuf. (312) | 16,138 | 0.393 | 740.618 | 105,565 |
| Crop Production (111) | 15,450 | 0.643 | 30.363 | 4,975.87 |
| Food and Beverage Stores (445) | 12,854 | 0.545 | 868.912 | 50,530.2 |
| Mining (except Oil and Gas) (212) | 12,441 | 0.483 | 35.2 | 11,071.4 |
| Motion Picture and Sound Recording Industries (512) | 11,996 | 0.390 | 80.6 | 5,149.93 |
| Ambulatory Health Care Services (621) | 11,937 | 0.225 | 117.411 | 68,398.1 |
| Insurance Carriers and Related Activities (524) | 11,511 | 0.337 | 173.9 | 111,413 |
| Wood Product Manuf. (321) | 11,242 | 0.462 | 246.797 | 7,116.73 |
| Nonmetallic Mineral Product Manuf. (327) | 11,221 | 0.543 | 99.398 | 12,162.9 |
| Water Transportation (483) | 9,958 | 0.422 | 29.13 | 8,082.4 |
| Food Manuf. (311) | 9,702 | 0.586 | 219.147 | 47,255.4 |
| Telecommunications (517) | 8,417 | 0.338 | 235.331 | 148,396 |
| Primary Metal Manuf. (331) | 7,187 | 0.668 | 185.352 | 17,005.3 |
| Pipeline Transportation (486) | 7,170 | 0.493 | 61 | 2,458.1 |
| Oil and Gas Extraction (211) | 6,456 | 0.380 | 53.617 | 13,864.8 |
| Electrical Equip. Appliance and Component Manuf. (335) | 3,927 | 0.675 | 80.879 | 39,607.6 |
| Merchant Wholesalers Nondurable Goods (424) | 3,648 | 0.635 | 238.376 | 48,943.8 |
| Construction of Buildings (236) | 3,418 | 0.429 | 390.619 | 15,058.7 |
| Support Activities for Mining (213) | 3,096 | 0.547 | 73.6005 | 6,850.19 |
| Nonstore Retailers (454) | 3,064 | 0.404 | 208.158 | 181,023 |
| Merchant Wholesalers Durable Goods (423) | 2,926 | 0.485 | 320.918 | 48,819.9 |
| Wholesale Electronic Markets and Agents and Brokers (425) | 2,079 | 0.517 | 185.611 | 185.611 |
| Support Activities for Agriculture and Forestry (115) | 1,642 | 0.507 | 6.916 | 6.916 |
| Machinery Manuf. (333) | 1,623 | 0.609 | 170.04 | 95,887.3 |
| Computer and Electronic Product Manuf. (334) | 1,161 | 0.640 | 131.034 | 371,863 |
| Plastics and Rubber Products Manuf. (326) | 887 | 0.545 | 341.54 | 8,666.38 |
| Other Information Services (519) | 725 | 0.320 | 265.546 | 244,612 |
| Amusement Gambling and Recreation Industries (713) | 465 | 0.519 | 166.469 | 10,010.4 |
| Real Estate (531) | 406 | 0.442 | 42.2235 | 28,174.1 |
| Data Processing Hosting and Related Services (518) | 317 | 0.570 | 201.626 | 248,030 |
RegData 4.0 quantifies the number of regulatory restriction words in the CFR (Code of Federal Regulations) and assigns a relevance score to three-digit NAICS industries. This table presents the industries for which both regulatory restriction and SG&A expenses information are available. The second column represents the time-series average of regulatory restriction words to which each industry is exposed. The third column shows the cross-sectional median of ROL (excluding firms with ROL smaller than zero and greater than one). In the fourth and fifth columns, we provide the median and sum of SG&A expenses for each industry in 2021.
| INDUSTRY . | REG . | ROL . | med(SG&A) . | sum(SG&A) . |
|---|---|---|---|---|
| Chemical Manuf. (325) | 64,575 | 0.624 | 63.2065 | 487,295 |
| Petroleum and Coal Products Manuf. (324) | 57,784 | 0.535 | 778.85 | 86,324.5 |
| Educational Services (611) | 46,543 | 0.593 | 164.508 | 15,090.2 |
| Waste Management and Remediation Services (562) | 44,185 | 0.453 | 49.0115 | 5,398.17 |
| Air Transportation (481) | 42,829 | 0.422 | 296.076 | 22,076.9 |
| Credit Intermediation and Related Activities (522) | 37,598 | 0.392 | 75.979 | 368,121 |
| Animal Production and Aquaculture (112) | 32,114 | 0.295 | 198.631 | 198.631 |
| Paper Manuf. (322) | 30,976 | 0.488 | 528 | 22,596.3 |
| Securities Commodity Contracts and Financial Inv. (523) | 26,429 | 0.447 | 59.644 | 18,886.3 |
| Transportation Equip. Manuf. (336) | 25,914 | 0.432 | 200.226 | 156,261 |
| Support Activities for Transportation (488) | 24,337 | 0.457 | 67.285 | 1,011.39 |
| Utilities (221) | 24,065 | 0.357 | 48.922 | 811.716 |
| Funds Trusts and Other Financial Vehicles (525) | 17,152 | 0.297 | 29.9165 | 119.74 |
| Social Assistance (624) | 16,758 | 0.357 | 254.103 | 254.103 |
| Beverage and Tobacco Product Manuf. (312) | 16,138 | 0.393 | 740.618 | 105,565 |
| Crop Production (111) | 15,450 | 0.643 | 30.363 | 4,975.87 |
| Food and Beverage Stores (445) | 12,854 | 0.545 | 868.912 | 50,530.2 |
| Mining (except Oil and Gas) (212) | 12,441 | 0.483 | 35.2 | 11,071.4 |
| Motion Picture and Sound Recording Industries (512) | 11,996 | 0.390 | 80.6 | 5,149.93 |
| Ambulatory Health Care Services (621) | 11,937 | 0.225 | 117.411 | 68,398.1 |
| Insurance Carriers and Related Activities (524) | 11,511 | 0.337 | 173.9 | 111,413 |
| Wood Product Manuf. (321) | 11,242 | 0.462 | 246.797 | 7,116.73 |
| Nonmetallic Mineral Product Manuf. (327) | 11,221 | 0.543 | 99.398 | 12,162.9 |
| Water Transportation (483) | 9,958 | 0.422 | 29.13 | 8,082.4 |
| Food Manuf. (311) | 9,702 | 0.586 | 219.147 | 47,255.4 |
| Telecommunications (517) | 8,417 | 0.338 | 235.331 | 148,396 |
| Primary Metal Manuf. (331) | 7,187 | 0.668 | 185.352 | 17,005.3 |
| Pipeline Transportation (486) | 7,170 | 0.493 | 61 | 2,458.1 |
| Oil and Gas Extraction (211) | 6,456 | 0.380 | 53.617 | 13,864.8 |
| Electrical Equip. Appliance and Component Manuf. (335) | 3,927 | 0.675 | 80.879 | 39,607.6 |
| Merchant Wholesalers Nondurable Goods (424) | 3,648 | 0.635 | 238.376 | 48,943.8 |
| Construction of Buildings (236) | 3,418 | 0.429 | 390.619 | 15,058.7 |
| Support Activities for Mining (213) | 3,096 | 0.547 | 73.6005 | 6,850.19 |
| Nonstore Retailers (454) | 3,064 | 0.404 | 208.158 | 181,023 |
| Merchant Wholesalers Durable Goods (423) | 2,926 | 0.485 | 320.918 | 48,819.9 |
| Wholesale Electronic Markets and Agents and Brokers (425) | 2,079 | 0.517 | 185.611 | 185.611 |
| Support Activities for Agriculture and Forestry (115) | 1,642 | 0.507 | 6.916 | 6.916 |
| Machinery Manuf. (333) | 1,623 | 0.609 | 170.04 | 95,887.3 |
| Computer and Electronic Product Manuf. (334) | 1,161 | 0.640 | 131.034 | 371,863 |
| Plastics and Rubber Products Manuf. (326) | 887 | 0.545 | 341.54 | 8,666.38 |
| Other Information Services (519) | 725 | 0.320 | 265.546 | 244,612 |
| Amusement Gambling and Recreation Industries (713) | 465 | 0.519 | 166.469 | 10,010.4 |
| Real Estate (531) | 406 | 0.442 | 42.2235 | 28,174.1 |
| Data Processing Hosting and Related Services (518) | 317 | 0.570 | 201.626 | 248,030 |
| INDUSTRY . | REG . | ROL . | med(SG&A) . | sum(SG&A) . |
|---|---|---|---|---|
| Chemical Manuf. (325) | 64,575 | 0.624 | 63.2065 | 487,295 |
| Petroleum and Coal Products Manuf. (324) | 57,784 | 0.535 | 778.85 | 86,324.5 |
| Educational Services (611) | 46,543 | 0.593 | 164.508 | 15,090.2 |
| Waste Management and Remediation Services (562) | 44,185 | 0.453 | 49.0115 | 5,398.17 |
| Air Transportation (481) | 42,829 | 0.422 | 296.076 | 22,076.9 |
| Credit Intermediation and Related Activities (522) | 37,598 | 0.392 | 75.979 | 368,121 |
| Animal Production and Aquaculture (112) | 32,114 | 0.295 | 198.631 | 198.631 |
| Paper Manuf. (322) | 30,976 | 0.488 | 528 | 22,596.3 |
| Securities Commodity Contracts and Financial Inv. (523) | 26,429 | 0.447 | 59.644 | 18,886.3 |
| Transportation Equip. Manuf. (336) | 25,914 | 0.432 | 200.226 | 156,261 |
| Support Activities for Transportation (488) | 24,337 | 0.457 | 67.285 | 1,011.39 |
| Utilities (221) | 24,065 | 0.357 | 48.922 | 811.716 |
| Funds Trusts and Other Financial Vehicles (525) | 17,152 | 0.297 | 29.9165 | 119.74 |
| Social Assistance (624) | 16,758 | 0.357 | 254.103 | 254.103 |
| Beverage and Tobacco Product Manuf. (312) | 16,138 | 0.393 | 740.618 | 105,565 |
| Crop Production (111) | 15,450 | 0.643 | 30.363 | 4,975.87 |
| Food and Beverage Stores (445) | 12,854 | 0.545 | 868.912 | 50,530.2 |
| Mining (except Oil and Gas) (212) | 12,441 | 0.483 | 35.2 | 11,071.4 |
| Motion Picture and Sound Recording Industries (512) | 11,996 | 0.390 | 80.6 | 5,149.93 |
| Ambulatory Health Care Services (621) | 11,937 | 0.225 | 117.411 | 68,398.1 |
| Insurance Carriers and Related Activities (524) | 11,511 | 0.337 | 173.9 | 111,413 |
| Wood Product Manuf. (321) | 11,242 | 0.462 | 246.797 | 7,116.73 |
| Nonmetallic Mineral Product Manuf. (327) | 11,221 | 0.543 | 99.398 | 12,162.9 |
| Water Transportation (483) | 9,958 | 0.422 | 29.13 | 8,082.4 |
| Food Manuf. (311) | 9,702 | 0.586 | 219.147 | 47,255.4 |
| Telecommunications (517) | 8,417 | 0.338 | 235.331 | 148,396 |
| Primary Metal Manuf. (331) | 7,187 | 0.668 | 185.352 | 17,005.3 |
| Pipeline Transportation (486) | 7,170 | 0.493 | 61 | 2,458.1 |
| Oil and Gas Extraction (211) | 6,456 | 0.380 | 53.617 | 13,864.8 |
| Electrical Equip. Appliance and Component Manuf. (335) | 3,927 | 0.675 | 80.879 | 39,607.6 |
| Merchant Wholesalers Nondurable Goods (424) | 3,648 | 0.635 | 238.376 | 48,943.8 |
| Construction of Buildings (236) | 3,418 | 0.429 | 390.619 | 15,058.7 |
| Support Activities for Mining (213) | 3,096 | 0.547 | 73.6005 | 6,850.19 |
| Nonstore Retailers (454) | 3,064 | 0.404 | 208.158 | 181,023 |
| Merchant Wholesalers Durable Goods (423) | 2,926 | 0.485 | 320.918 | 48,819.9 |
| Wholesale Electronic Markets and Agents and Brokers (425) | 2,079 | 0.517 | 185.611 | 185.611 |
| Support Activities for Agriculture and Forestry (115) | 1,642 | 0.507 | 6.916 | 6.916 |
| Machinery Manuf. (333) | 1,623 | 0.609 | 170.04 | 95,887.3 |
| Computer and Electronic Product Manuf. (334) | 1,161 | 0.640 | 131.034 | 371,863 |
| Plastics and Rubber Products Manuf. (326) | 887 | 0.545 | 341.54 | 8,666.38 |
| Other Information Services (519) | 725 | 0.320 | 265.546 | 244,612 |
| Amusement Gambling and Recreation Industries (713) | 465 | 0.519 | 166.469 | 10,010.4 |
| Real Estate (531) | 406 | 0.442 | 42.2235 | 28,174.1 |
| Data Processing Hosting and Related Services (518) | 317 | 0.570 | 201.626 | 248,030 |
RegData 4.0 quantifies the number of regulatory restriction words in the CFR (Code of Federal Regulations) and assigns a relevance score to three-digit NAICS industries. This table presents the industries for which both regulatory restriction and SG&A expenses information are available. The second column represents the time-series average of regulatory restriction words to which each industry is exposed. The third column shows the cross-sectional median of ROL (excluding firms with ROL smaller than zero and greater than one). In the fourth and fifth columns, we provide the median and sum of SG&A expenses for each industry in 2021.
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