Regulatory Risk and the Cost of Capital: Determinants and Implications for Rate Regulation
Author:   Burkhard Pedell
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Edition:   1st ed. Softcover of orig. ed. 2006
ISBN:  

9783642068065


Pages:   221
Publication Date:   14 October 2010
Format:   Paperback
Availability:   In Print   Availability explained
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Regulatory Risk and the Cost of Capital: Determinants and Implications for Rate Regulation


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Overview

Austrian Controller Award 2005 This book develops a comprehensive concept of regulatory risk integrating existing theoretical and empirical research. The focus is on explaining how the design of the regulatory system influences the risk of a rate-regulated firm, as well as on elaborating appropriate methods for the determination of the regulatory rate base and the allowed rate of return. Regarding the regulatory rate base, the question of whether market value of capital or book value of assets should be employed and the choice of the depreciation scheme are at the center of the discussion. Specific methodical issues concerning cost of capital assessment for rate-regulated firms are analyzed, i.e. the circularity of rate regulation, the sharing of risks between capital owners and rate payers, the length of the regulatory review period, the regulation of the capital structure as well as the conversion of a post-tax to pre-tax weighted average cost of capital.

Full Product Details

Author:   Burkhard Pedell
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint:   Springer-Verlag Berlin and Heidelberg GmbH & Co. K
Edition:   1st ed. Softcover of orig. ed. 2006
Dimensions:   Width: 15.50cm , Height: 1.20cm , Length: 23.50cm
Weight:   0.454kg
ISBN:  

9783642068065


ISBN 10:   3642068065
Pages:   221
Publication Date:   14 October 2010
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print   Availability explained
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

Table of Contents

Basic Elements for a Comprehensive Concept of Regulatory Risk — Models, Objectives, Process, Cost Concepts and Types of Rate Regulation.- Impact of Rate Regulation on the Risk of a Regulated Firm.- Development of a Regulatory Control Panel — Analysis of Individual Variables of Rate Regulation as Determinants of Regulatory Risk.- Determination of the Regulatory Rate Base.- Market-Based Assessment of the Cost of Capital for a Rate-Regulated Firm.- Conclusions.

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