| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w0866
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| 来源ID | Working Paper 0866
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| Effects of Regulation on Utility Financing: Theory and Evidence |
| Robert A. Taggart, Jr.
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| 发表日期 | 1982-03-01
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| 出版年 | 1982
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| 语种 | 英语
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| 摘要 | This paper examines the financing decisions of regulated public utilities. It is argued that the regulatory process affects utility financing choices both by conditioning the environment in which these choices are made and by creating opportunities for firms to influence the regulated price through strategic financing behavior. The nature of this regulatory effect continually changes, however, as economic conditions change and as regulators, firms and consumers adapt to one another's decisions. The direction of the impact on utility financing, therefore, may differ both over time and across regulatory jurisdictions. This theory of regulatory influence is tested by examining several episodes in the financing experience of U.S. electric utilities from 1912 to 1979. Evidence of a regulatory effect on utility financing is found particularly for the early years of state commission regulation. Examples of an adaptive response pattern on the part of regulators, firms and consumers are also cited. |
| 主题 | Financial Economics
; Industrial Organization
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| URL | https://www.nber.org/papers/w0866
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/558078
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推荐引用方式
GB/T 7714 |
Robert A. Taggart, Jr.. Effects of Regulation on Utility Financing: Theory and Evidence. 1982.
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文件名：
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w0866.pdf
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格式：
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Adobe PDF
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