Lally (2007) concludes that regulators must esimate the risk-free rate as the yield-to-maturity on Government debt with a term-to-maturity equal to the regulatory period, to ensure that the present value of expected cash flows equals the investment base. The analytics behind this conclusion...

Lally (2007) concludes that regulators must estimate the risk‐free rate as the yield‐tomaturity on Government debt with a term‐tomaturity equal to the regulatory period, to ensure that the present value of expected cash flows equals the investment base. The analytics behind this conclusion...

Lally (2007) concludes that regulators must estimate the risk-free rate as the yield-tomaturity on Government debt with a term-tomaturity equal to the regulatory period, to ensure that the present value of expected cash flows equals the investment base. The analytics behind this conclusion...