Regulatory Risk And The Cost Of Capital

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Regulatory Risk And The Cost Of Capital

Regulatory Risk And The Cost Of Capital
Author: Burkhard Pedell
Publisher: Springer Science & Business Media
ISBN: 3540308024
Size: 11.93 MB
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Austrian Controller Award 2005 This book develops a comprehensive concept of regulatory risk integrating existing theoretical and empirical research. The focus is on explaining how the design of the regulatory system influences the risk of a rate-regulated firm, as well as on elaborating appropriate methods for the determination of the regulatory rate base and the allowed rate of return. Regarding the regulatory rate base, the question of whether market value of capital or book value of assets should be employed and the choice of the depreciation scheme are at the center of the discussion. Specific methodical issues concerning cost of capital assessment for rate-regulated firms are analyzed, i.e. the circularity of rate regulation, the sharing of risks between capital owners and rate payers, the length of the regulatory review period, the regulation of the capital structure as well as the conversion of a post-tax to pre-tax weighted average cost of capital.
Regulatory Risk and the Cost of Capital
Language: en
Pages: 221
Authors: Burkhard Pedell
Categories: Business & Economics
Type: BOOK - Published: 2006-04-20 - Publisher: Springer Science & Business Media
Austrian Controller Award 2005 This book develops a comprehensive concept of regulatory risk integrating existing theoretical and empirical research. The focus is on explaining how the design of the regulatory system influences the risk of a rate-regulated firm, as well as on elaborating appropriate methods for the determination of the
OECD Reviews of Regulatory Reform: United Kingdom 2002 Challenges at the Cutting Edge
Language: en
Pages: 156
Authors: OECD
Categories: Business & Economics
Type: BOOK - Published: 2002-10-24 - Publisher: OECD Publishing
The OECD's review of regulatory reform in the UK. The review finds that the United Kingdom presents a stimulating contrast of tradition and modernity, which is reflected in a mature and innovative regulatory system.
International Handbook on Economic Regulation
Language: en
Pages: 419
Authors: Michael A. Crew, David Parker
Categories: Law
Type: BOOK - Published: 2006 - Publisher: Edward Elgar Publishing
Michael Crew and David Parker have compiled a comprehensive, up-to-date and detailed analytical work on leading research issues in the economics of regulation. With contributions from international specialists in economic regulation, the Handbook provides a comprehensive discussion of major developments in both the theory and practice of regulatory economics. This
A Few Things Transport Regulators Should Know about Risk and the Cost of Capital
Language: en
Pages: 16
Authors: Ian Alexander, Antonio Estache, Adele Oliveri
Categories: Capital costs
Type: BOOK - Published: 1999 - Publisher: World Bank Publications
A methodology for measuring the cost of capital, calculating the measure of market risk, and estimating the impact of various regulatory regimes on market risk in the transport sector.
The Regulation of Public Utilities
Language: en
Pages: 911
Authors: Charles Franklin Phillips
Categories: Public utilities
Type: BOOK - Published: 1988 - Publisher:
The Regulation of public uilities provides a review and analysis of the development of economic regulation, emphasizing recent and future issues confronting the public utility sector.
Price Regulation and Risk
Language: en
Pages: 180
Authors: Michael Hierzenberger
Categories: Business & Economics
Type: BOOK - Published: 2010-08-03 - Publisher: Springer Science & Business Media
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
The Rise, the Fall, and ... the Emerging Recovery of Project Finance in Transport
Language: en
Pages: 31
Authors: Antonio Estache, John S. Strong
Categories: Bank Debt
Type: BOOK - Published: 2000 - Publisher: World Bank Publications
Many transport projects undertaken during the boom period of the 1990s came to a crashing halt in 1997, and conditions in emerging markets worsened in 1998 and 1999. Many projects failed, victim of everything from overoptimistic forecasts to excessive debt to an inability to refinance bridge loans. As available financing
Multi-dimensional Risk and Investment Return in the Energy Sector
Language: en
Pages: 173
Authors: Peter Rabensteiner
Categories: Electric utilities
Type: BOOK - Published: 2013 - Publisher: Haupt Verlag AG
Die vorliegende Dissertation untersucht die kapitalbezogenen Aspekte von Investitionen im regulierten Energiesektor, wobei der Fokus auf dem elektrischen Übertragungsnetz liegt. Eine grundlegende Prämisse ist hierbei die "Endogenität des Risikos," wonach das Risikoprofil einer regulierten Investition von den Spezifikationen des regulatorischen Marktdesigns abhängt, durch welches stochastische Kosten und Einnahmen unter den
Do Regulatuion and Institutional Design Matter for Infrastructural Sector Performance
Language: en
Pages:
Authors: Peter Rabensteiner
Categories: Electric utilities
Type: BOOK - Published: - Publisher: World Bank Publications
Books about Do Regulatuion and Institutional Design Matter for Infrastructural Sector Performance
Regulatory Risk: Economic Principles and Applications to Natural Gas Pipelines and Other Industries
Language: en
Pages: 345
Authors: A. Lawrence Kolbe, William B. Tye, Stewart C. Myers
Categories: Business & Economics
Type: BOOK - Published: 2012-12-06 - Publisher: Springer Science & Business Media
It is common to assert that utility investors are compensated in the allowed rate of return for the risk of large disallowances, such as arise for investments found imprudent or not `used and useful'. However, this book develops a new theory of asymmetric regulatory risk that shows that infallible estimates