Descripción del título
Price Regulation and Risk [...
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
Monografía
monografia Rebiun12582602 https://catalogo.rebiun.org/rebiun/record/Rebiun12582602 100803s2010 gw | s |||| 0|eng d 9783642120473 978-3-642-12047-3 9783642120466 ed. impresa) UMA.RE Hierzenberger, Michael Price Regulation and Risk Recurso electrónico] The Impact of Regulation System Shifts on Risk Components by Michael Hierzenberger Servicio en línea Berlin, Heidelberg Springer Berlin Heidelberg Imprint: Springer 2010 Berlin, Heidelberg Berlin, Heidelberg Springer Berlin Heidelberg Imprint: Springer X, 180p. digital X, 180p. Lecture Notes in Economics and Mathematical Systems 0075-8442 641 Introduction -- Capital Market-Based Calculation of the Cost of Equity -- Methods of Price Regulation -- Empirical Secondary Data Analysis -- The Primary Empirical Study -- Summary of the Work Acceso restringido a miembros del Consorcio de Bibliotecas Universitarias de Andalucía 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 Modo de acceso: World Wide Web Springer Economics Econometrics Finance Economics, Mathematical Auditing Economics/Management Science Public Finance & Economics Auditoría Economic Systems Econometrics Game Theory/Mathematical Methods SpringerLink (Online service) SpringerLink eBooks (Servicio en línea) Lecture Notes in Economics and Mathematical Systems (Servicio en línea) Springer eBooks Springer eBooks