In this paper, the authors test Peltzman's buffering hypothesis--whether regulatory environment impacts systematic risk for regulated electric utilities. The paper differs from previous research in that an exogenously defined measure of regulatory environment, a large sample, and a method that...

Corporate control is assumed to rest in management's hands in firms with widely dispersed share ownership, but ownership of a relatively small block of shares may be sufficient to give the blockholder at least some measure of control or influence. Although the influence of individuals or...