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We construct a comprehensive panel data of 96 publicly traded European utilities over the period 1994-2005 in order to study the relationship between the capital structure of regulated firms, regulated prices, and investments, and examine if and how this interaction is affected by ownership...
Persistent link: https://www.econbiz.de/10014223408
The purpose of this research is to evaluate the impact of vertical unbundling on German electric utilities. Our research mainly relies on in-depth interviews with sector-experts from the German utilities. We will discuss both short-term changes and the long-term impact on competition in the...
Persistent link: https://www.econbiz.de/10010423531
coordination. This paper examines three persistent sources of flawed coordination: 1) a regulation versus unbundling dilemma, 2 …
Persistent link: https://www.econbiz.de/10010423547
of regulation on R&D investment. Nearing competition has a dampening effect on R&D spending, but once the market and … could not find any evidence that (ownership) unbundling and incentive regulation affect R&D expenditures of the utilities. …
Persistent link: https://www.econbiz.de/10010337284
, challenge antitrust and regulation policy. The paper focuses on the theoretical and methodological basis provided by the New … specific view of NIE at industrial organization, antitrust and regulation, discusses three current issues - the European policy …
Persistent link: https://www.econbiz.de/10011490672
Theory and empirics suggest that by curbing competition, incumbent electricity companies which used to be and here are referred to as Vertically Integrated Utilities (VIUs), can increase their profitability through combined ownership of generation and transmission and/or distribution networks....
Persistent link: https://www.econbiz.de/10014219240
We examine the impact of liberalization, energy efficiency, renewable energy, and security of supply legislations on the risk-return profiles of European energy utilities over the period 1996 to 2013. Results show that, after controlling for equity market and commodity risk factors, the EU...
Persistent link: https://www.econbiz.de/10013043636
Persistent link: https://www.econbiz.de/10010377042
Utilities regulation in the Member States is always subject to the application of EC competition law. However, this … undermines the effectiveness of utilities regulation and the European Courts should deploy a more flexible standard than that … demarcate the borderline between competition law and sector regulation but a case-by-case assessment should be carried out to …
Persistent link: https://www.econbiz.de/10014214385
Persistent link: https://www.econbiz.de/10010523048