In this study we apply an index number approach to allow for cross sectional comparisons of relative profitability, productivity and price performance of the regulated Water and Sewerage companies (WaSCs) in England and Wales during the years 1991-2008. In order to better analyse the impact of...

Most models of institutional change (e.g.,Dacin, Goodstein, & Scott, 2002) rely on the presence of powerful agents intent on changing the institutions. Few institutional change studies concern situations where powerful agents are absent or do not pursue change. In this paper, we argue that...