Regulatory Agencies: Impact on Firm Performance and Social Welfare
نویسندگان
چکیده
We explore the relation between the establishment of a regulatory agency and the performance of the electricity sector. We exploit a dataset comprising firmlevel information on a representative sample of 220 electric utilities from 51 development countries for the period 1985 to 2005. Our results indicate that regulatory agencies are associated with more efficient firms and with higher social welfare. JEL Classification: D21, D24, L51, L94.
منابع مشابه
Government-run Credit Rating Agency and Social Welfare
This paper considers the social welfare implications of having a public rating agency in-stead of private sector credit rating agencies. The public rating agency is assumed to pay a fix compensation rather than a performance sensitive compensation and is assumed to dismiss its employee in case of "misconduct." The model predicts that the public rating agency may be socially beneficial if invest...
متن کاملSOCIAL WELFARE LOSS DUE TO SECOND-BEST PRICING: an application to the Portuguese Telecommunications
The Telecommunications industry is usually characterised by low marginal costs and significant fixed costs which are the conditions for the inefficiency of marginal cost pricing. In such cases theory postulates that optimal pricing is obtained by maximising welfare subject to a restriction of viability of the firm: the second-best pricing scheme. The possible Welfare Losses due to second-best p...
متن کاملInvestigating the effect of renewable and non-renewable energy consumption on social welfare in developing Asian countries: Quantile regression approach
Energy as one of the factors of production along with labor and capital has an important role in development and social welfare. Due to the pollution of non-renewable resources and its negative impact on welfare, the use of renewable resources can improve social welfare by eliminating pollutants. In this study, the effect of renewable and non-renewable energy consumption on social welfare of de...
متن کاملMarket Performance Implications of the Transfer Price Rule∗
The “transfer price rule”(TPR) defines a vertical price squeeze as an input price, output price combination set by a vertically-integrated firm monopoly producer of an essential input that would not allow the firm’s downstream unit to earn at least a normal rate of return on investment in the “as-if”case that it had to purchase the input at the price charged independent firms. In its 2009 linkL...
متن کاملThe impact of interwoven integration practices on supply chain value addition and firm performance
Drawing on the supply chain (SC) management literature, this article conceptualizes and empirically tests a framework that shows how both external and internal integration practices are significant and positively associated with SC value addition and firm performance. The framework also tests the impact of value addition as a reinforcing factor on firm performance. The outcome of this investiga...
متن کامل