If you are experiencing problems downloading PDF or HTML fulltext, our helpdesk recommend clearing your browser cache and trying again. If you need help in clearing your cache, please click here . Still need help? Email help@ingentaconnect.com

The regulation of electricity: results from an event study

$54.78 plus tax (Refund Policy)

Buy Article:


In this paper, event-study methods are used to compare the stock-market returns for the RECs with general stock-market returns to test the hypothesis that the regulatory package shows symptoms of capture by special interest groups over the 1991-95 period. The results show that some capture by the RECs may have occurred as they have earned abnormal market returns. However, regulatory events are heterogeneous in nature and actions taken over prices by the Director General of Electricity Supply (DGES) in 1995 appear to have reduced abnormal returns. As part of the study, we examine the impact on shareholders' returns of the DGES's controversial announcement in March 1995 of plans to tighten price controls on the RECs. The regulatory package appears to work reasonably well on balance.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/000368499324057

Publication date: May 1, 1999

More about this publication?
Related content

Share Content

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more