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.
|Produto sob encomenda||Sim|
|Marca||SPRINGER VERLAG POD|
|Ano da edição||2010|
|Número de Páginas||152|