This paper considers the impact of European telecom regulation on the value of affected companies. Employing a … repeating AR-GARCH model, I compare the effect of three types of regulation which are categorized based on the addressed subject …, i.e. cross-market, country-specific and company-specific regulation. While standard event study approaches are a special …

Developments in the EU telecommunications markets require a recurrent redesign of the regulatory framework for … telecommunications services. In this regard, the analysis of the substitution effects between different types of telephony is the … cornerstone of market definition and therefore of effective regulation. This paper explores the access substitution between fixed …