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Price Regulation and Risk - The Impact of Regulation System Shifts on Risk Components (Paperback, 2010 ed.)
Loot Price: R1,564
Discovery Miles 15 640
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Price Regulation and Risk - The Impact of Regulation System Shifts on Risk Components (Paperback, 2010 ed.)
Series: Lecture Notes in Economics and Mathematical Systems, 641
Expected to ship within 10 - 15 working days
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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.
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