Purpose – This paper aims to draw on the potential behavioural implications of the new (economic) measurement attributes initiated recently by the International Accounting Standard Board (IASB) in their efforts to reflect more relevant, “true” underlying economic values as opposed to...

To establish price caps, regulators must determine appropriate returns for utilities' capital employed. This paper uses the techniques of the Kalman Filter to estimate daily betas for the U.K.'s regional electricity companies in the period from privatization to end-1998. The paper demonstrates...

UK utilities are generally regulated by the periodic setting of a price cap (the RPI-X mechanism). To establish these caps, regulators must determine what returns are appropriate on the capital employed by utilities. This paper addresses the issue of the level of risk inherent in investment in...

We document the changes in dynamic stochastic structure of the various industrial sectors of the Chinese A, B and the Hong Kong share markets. We utilize a robustly estimated vector error correction model with multivariate generalized autoregressive conditionally heteroscedasticity...

<Para ID="Par1">This paper addresses a core issue for the regulated utility: what are the risks taken by investors in companies that supply a product whose supply is regulated? Prior research on returns of regulated water supply and distribution companies concluded that regulation interacts significantly with...</para>