Academics, practitioners, and policy makers continue to debate the benefits and costs of alternative sources of energy. Environmental and economic concerns have yet to be fully reconciled. One view is that decisions that incorporate both society's concern with the environment and investors'...

The choice of a primary financial goal is considered an important part of any organization's planning process. A lingering question is whether stockholder welfare can really be affected by a company's decision to change this goal.

Electric Utility Diversification and Efficient Capital Markets Over 60% of investor owned electric utilities have experimented with diversification into lines of business other than the traditional generation, transmission, and distribution of electricity. They diversify for a variety of...