000 02978nam a22005175i 4500
001 978-3-642-12047-3
003 DE-He213
005 20140220084533.0
007 cr nn 008mamaa
008 100803s2010 gw | s |||| 0|eng d
020 _a9783642120473
_9978-3-642-12047-3
024 7 _a10.1007/978-3-642-12047-3
_2doi
050 4 _aHJ9-9940
072 7 _aKFFD
_2bicssc
072 7 _aBUS051000
_2bisacsh
082 0 4 _a336
_223
100 1 _aHierzenberger, Michael.
_eauthor.
245 1 0 _aPrice Regulation and Risk
_h[electronic resource] :
_bThe Impact of Regulation System Shifts on Risk Components /
_cby Michael Hierzenberger.
264 1 _aBerlin, Heidelberg :
_bSpringer Berlin Heidelberg :
_bImprint: Springer,
_c2010.
300 _aX, 180p.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aLecture Notes in Economics and Mathematical Systems,
_x0075-8442 ;
_v641
505 0 _aCapital Market-Based Calculation of the Cost of Equity -- Methods of Price Regulation -- Empirical Secondary Data Analysis -- The Primary Empirical Study -- Summary of the Work.
520 _aNatural monopolies are not subject to the market-based principle of competition. Consequently, it is necessary to control companies in such monopoly positions with regard to their pricing. In the future, it will become more and more important to consider a possible change in the regulation regime when the future-oriented costs of equity - both in terms of price regulation and for conducting capital market-oriented business valuations - are to be determined. Based on the principal-agent problem, the book explains this topic. The effect of a change in the regulation regime is presented in the form of two studies: an international secondary analysis of the effects on cost of equity based on event studies of the Anglo-Saxon area and a primary analysis based on the Austrian regulation policy for electricity and gas supply systems. The two studies arrive at similar results: The change from a rate-of-return regulation to incentive regulation systems leads to a significant increase in systematic risk.
650 0 _aEconomics.
650 0 _aEconometrics.
650 0 _aFinance.
650 0 _aEconomics, Mathematical.
650 0 _aAuditing.
650 1 4 _aEconomics/Management Science.
650 2 4 _aPublic Finance & Economics.
650 2 4 _aAccounting/Auditing.
650 2 4 _aEconomic Systems.
650 2 4 _aEconometrics.
650 2 4 _aGame Theory/Mathematical Methods.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9783642120466
830 0 _aLecture Notes in Economics and Mathematical Systems,
_x0075-8442 ;
_v641
856 4 0 _uhttp://dx.doi.org/10.1007/978-3-642-12047-3
912 _aZDB-2-SBE
999 _c111978
_d111978