Price Regulation and Risk: The Impact of Regulation System Shifts on Risk Components: 641 - Brossura

Libro 43 di 126: Lecture Notes in Economics and Mathematical Systems

Hierzenberger, Michael

 
9783642120466: Price Regulation and Risk: The Impact of Regulation System Shifts on Risk Components: 641
Brossura
ISBN 10: 3642120466 ISBN 13: 9783642120466
Casa editrice: Springer, 2010

Sinossi

Natural monopolies are not subject to the market-based principle of competition. Consequently, it is necessary to control companies in such monopoly positions with regard to their pricing. In the future, it will become more and more important to consider a possible change in the regulation regime when the future-oriented costs of equity - both in terms of price regulation and for conducting capital market-oriented business valuations - are to be determined. Based on the principal-agent problem, the book explains this topic. The effect of a change in the regulation regime is presented in the form of two studies: an international secondary analysis of the effects on cost of equity based on event studies of the Anglo-Saxon area and a primary analysis based on the Austrian regulation policy for electricity and gas supply systems. The two studies arrive at similar results: The change from a rate-of-return regulation to incentive regulation systems leads to a significant increase in systematic risk.

Le informazioni nella sezione "Riassunto" possono far riferimento a edizioni diverse di questo titolo.

Dalla quarta di copertina

Natural monopolies are not subject to the market-based principle of competition. Consequently, it is necessary to control companies in such monopoly positions with regard to their pricing. In the future, it will become more and more important to consider a possible change in the regulation regime when the future-oriented costs of equity - both in terms of price regulation and for conducting capital market-oriented business valuations - are to be determined. Based on the principal-agent problem, the book explains this topic. The effect of a change in the regulation regime is presented in the form of two studies: an international secondary analysis of the effects on cost of equity based on event studies of the Anglo-Saxon area and a primary analysis based on the Austrian regulation policy for electricity and gas supply systems. The two studies arrive at similar results: The change from a rate-of-return regulation to incentive regulation systems leads to a significant increase in systematic risk.

Le informazioni nella sezione "Su questo libro" possono far riferimento a edizioni diverse di questo titolo.

Editore
Springer
Data di pubblicazione
2010
Lingua
Inglese
ISBN 10 
3642120466
ISBN 13 
9783642120466
Rilegatura
Copertina flessibile
Numero edizione
1
Numero di pagine
152
Contatto del produttore
Springer Nature Customer Service Center GmbH
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Heidelberg
69115
Germania

Altre edizioni note dello stesso titolo

9783642120480: Price Regulation and Risk: The Impact of Regulation System Shifts on Risk Components

Edizione in evidenza

ISBN 10:  3642120482 ISBN 13:  9783642120480
Casa editrice: Springer, 2010
Brossura