rondi, laura; cambini, carlo; bremberger, francisca; … - Volkswirtschaftliche Fakultät, … - 2013
We study the impact of different regulatory contracts of electricity companies on their dividend policy. Using a panel … of 106 publicly traded European electric utilities in the period 1986-2011 we link dividend pay-out and smoothing ratios … target payout ratios; thus suggesting that incentive regulation leads firms to a dividend policy more responsive to earnings …