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The Effects of Regulatory Policies on the Cost of Debt for Electric Utilities: An Empirical Investigation
6 references·8 citing·45 second hop
The Effects of Regulatory Policies on the Cost of Debt for Electric Utilities: An Empirical Investigation (1989)The Effects of Regulatory Policies on the…Consistent Regulatory Policy under Uncertainty (1982)Consistent Regulatory Policy …Specification Tests in Econometrics (1978)Specification Tests in Econom…On the Use of Beta in Regulatory Proceedings: An Empirical Examination (1978)On the Use of Beta in Regulat…The Economics of Regulation: Principles and Institutions (1972)The Economics of Regulation: …The Application of Finance Theory to Public Utility Rate Cases (1972)The Application of Finance Th…Determinants of Risk Premiums on Corporate Bonds (1959)Determinants of Risk Premiums…Incentive Regulation of Electricity and Gas Networks in the UK: From RIIO-1 to RIIO-2 (2021)Incentive Regulation of Elect…Inconsistent Regulators: Evidence from Banking * (2014)Inconsistent Regulators: Evid…Inconsistent Regulators: Evidence from Banking (2012)Inconsistent Regulators: Evid…Regulating Infrastructure: The Impact on Risk and Investment (2006)Regulating Infrastructure: Th…Balancing multiple interests in regulation: An event study of the English and Welsh water industry (1996)Balancing multiple interests …Public utility regulation and bond ratings (1995)Public utility regulation and…Electric utility income in response to the breakdown at the Three Mile Island nuclear power plant and subsequent political events (1993)Electric utility income in re…Dividend policy and regulatory risk: A test of the Smith hypothesis (1992)Dividend policy and regulator…A Simplified Model for Portfolio Analysis (1963)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Market Model Stationarity of Individual Public Utilities (1983)The Behavior of Stock Returns: Is it Stationary of Evolutionary? (1984)Managing uncertainty in a general insurance company (1990)An Intertemporal Capital Asset Pricing Model (1973)The Pricing of Options and Corporate Liabilities (1973)A Theory of the Term Structure of Interest Rates (1985)Evaluating Natural Resource Investments (1985)Stock Valuation and Learning about Profitability (2003)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)An Engine, Not a Camera (2006)The Adjustment of Stock Prices to New Information (1969)Industrial Market Structure and Economic Performance. (1971)Measuring security price performance (1980)The regulation of electricity: results from an event study (1999)The Use of Error Components Models in Combining Cross Section with Time Series Data (1969)The Use of Variance Components Models in Pooling Cross Section and Time Series Data (1971)On the Pooling of Time Series and Cross Section Data (1978)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Econometric Analysis of Cross Section and Panel Data (2001)Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2006)A Pure Theory of Local Expenditures (1956)The Theory of Economic Regulation (1971)Bank Runs, Deposit Insurance, and Liquidity (1983)Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market (2013)Where the Risks Lie: A Survey on Systemic Risk (2015)Internationalization and Bank Risk (2016)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Investment Under Uncertainty. (1994)Regulation, Competition, and Liberalization (2006)Toward a Theory of Regulation for Developing Countries: Following Jean-Jacques Laffont's Lead (2009)The Interrelationships Among Informal Institutions, Formal Institutions, and Inward Foreign Direct Investment (2011)American Economic Review (2019)The Measurement and Determinants of Brand Equity: A Financial Approach (1993)Network Externality: An Uncommon Tragedy (1994)Industrial Organization: A Strategic Approach (1999)Explaining the Rate Spread on Corporate Bonds (2001)Liquidity and Asset Prices (2006)The Determinants of Credit Default Swap Premia (2009)The Relation between Bank Resolutions and Information Environment: Evidence from the Auctions for Failed Banks (2011)The Effects of Supervision on Bank Performance: Evidence from Discontinuous Examination Frequencies (2012)Hub-and-Spoke Regulation and Bank Leverage (2017)
this work references cited by second hop

References

  • 1978Specification Tests in Econometrics19,451 cited
  • 1972The Economics of Regulation: Principles and Institutions716 cited
  • 1959Determinants of Risk Premiums on Corporate Bonds460 cited
  • 1972The Application of Finance Theory to Public Utility Rate Cases126 cited
  • 1982Consistent Regulatory Policy under Uncertainty105 cited
  • 1978On the Use of Beta in Regulatory Proceedings: An Empirical Examination36 cited

Cited by

  • 2014Inconsistent Regulators: Evidence from Banking *480 cited
  • 2006Regulating Infrastructure: The Impact on Risk and Investment300 cited
  • 2012Inconsistent Regulators: Evidence from Banking31 cited
  • 1996Balancing multiple interests in regulation: An event study of the English and Welsh water industry26 cited
  • 1995Public utility regulation and bond ratings18 cited
  • 1992Dividend policy and regulatory risk: A test of the Smith hypothesis13 cited
  • 1993Electric utility income in response to the breakdown at the Three Mile Island nuclear power plant and subsequent political events13 cited
  • 2021Incentive Regulation of Electricity and Gas Networks in the UK: From RIIO-1 to RIIO-211 cited

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