Capital recovery for the regulated firm under certainty and regulatory uncertainty

1992 ◽  
Vol 14 (4) ◽  
pp. 337-361 ◽  
Author(s):  
Thomas H. Goodwin ◽  
Robert H. Patrick
Keyword(s):  
Regulatory Uncertainty ◽  
Regulated Firm

Becoming the World’s Biggest Market

2018 ◽  
Author(s):  
Irene Spagna
Keyword(s):  
Global Economy ◽  
Global Financial Crisis ◽  
Credit Default Swaps ◽  
Deregulated Markets ◽  
Otc Derivatives ◽  
Regulatory Uncertainty ◽  
Credit Default ◽  
Basic Characteristics ◽  
The Global Financial Crisis

This chapter analyzes the growth of OTC derivatives before the global financial crisis of 2008 and the role of credit default swaps, in particular, in the near collapse of the global economy. It begins by exploring the basic characteristics of derivatives used as risk management instruments by investors to hedge against or exploit the volatility of asset prices. The analysis further reveals that the pre-crisis period was characterized by a broad-based consensus favoring deregulated markets and globally designed private rules. While not always unanimously supported, permissive public regulatory choices were often encouraged by interest group lobbying, the market-friendly views of many domestic authorities, and concerns about regulatory uncertainty and international competitiveness.

scholarly journals Market Liberalization, Regulatory Uncertainty, and Firm Investment

2012 ◽  
Vol 13 (3) ◽  
pp. 352-361 ◽  
Author(s):  
Florian Baumann ◽  
Tim Friehe
Keyword(s):  
Market Entry ◽  
Market Liberalization ◽  
Firm Investment ◽  
Labor Costs ◽  
Regulatory Uncertainty ◽  
Internal Investment ◽  
The Impact

AbstractThis paper analyzes the effects of regulatory uncertainty regarding labor costs on investment in a liberalized market. We distinguish between the external investment margin (market entry) and the internal investment margin (technology), and establish that regulatory uncertainty affects these margins differently, encouraging market entry, but discouraging technological investment. As a consequence, the impact of regulatory uncertainty on competition in liberalized markets is a combination of these two countervailing forces.

A dynamic model of advertising by the regulated firm

1996 ◽  
Vol 64 (1) ◽  
pp. 85-106 ◽  
Author(s):  
Francois Melese ◽  
David L. Kaserman ◽  
John W. Mayo
Keyword(s):  
Dynamic Model ◽  
Regulated Firm

US Corporate Investment Over the Political Cycle

2015 ◽  
Vol 05 (01) ◽  
pp. 1550015 ◽  
Author(s):  
Adam Yonce
Keyword(s):  
Regulatory Policy ◽  
Cash Flows ◽  
The Political ◽  
Political Environment ◽  
Investment Behavior ◽  
Party Government ◽  
Investment Theory ◽  
Regulatory Uncertainty ◽  
Political Cycle ◽  
Investment Opportunities

The investment behavior of US firms exhibits systematic variation over the political cycle. After controlling for investment opportunities, US firms reduce investment expenditures approximately 2.0% during Presidential election years, 5.3% during periods of single-party government, and 8.7% during Republican presidential administrations. Neoclassical investment theory has little to say about direct links between investment and the political environment. I show that the empirical results arise naturally in a model of investment under regulatory and political uncertainty, provided that (i) regulatory policy affects the cash flows of the firm, (ii) firms have flexibility over the scale of their investments and (iii) regulatory uncertainty resolves quickly.

Company directors' disqualification proceedings following the failure of FSA‐regulated firm

2008 ◽  
Vol 16 (1) ◽  
pp. 111-115
Author(s):  
Joanna Gray
Keyword(s):  
Design Methodology ◽  
Content Type ◽  
The Real ◽  
Legal Regimes ◽  
Company Directors ◽  
Regulated Firm ◽  
Business Sectors

PurposeThe purpose of this paper is to report on the company directors' disqualification proceedings following the failure of FSA‐regulated firm.Design/methodology/approachThe paper outlines the facts surrounding the decision and comments on the ruling.FindingsIt was found that this whole question of overlapping laws in highly complex and regulated business sectors is a real one and is set to become a growing problem for courts to manage and boards to predict.Originality/valueThe paper highlights the real, practical problems that can arise when different legal regimes criss‐cross the same factual domain.

scholarly journals Investments in next generation access infrastructures under regulatory uncertainty

2013 ◽  
Vol 37 (10) ◽  
pp. 879-892 ◽  
Author(s):  
Markos Tselekounis ◽  
Dimitris Varoutas
Keyword(s):  
Next Generation ◽  
Regulatory Uncertainty

scholarly journals The Buck Stops Where? Federalism, Uncertainty, and Investment in the Brazilian Water and Sanitation Sector

2020 ◽  
Vol 12 (3) ◽  
pp. 374-401 ◽  
Author(s):  
Evan Plous Kresch
Keyword(s):  
Public Service ◽  
Service Provision ◽  
Natural Experiment ◽  
Total System ◽  
Difference In Differences ◽  
Water And Sanitation ◽  
Regulatory Uncertainty ◽  
System Access ◽  
The Relationship ◽  
Different Levels

This paper documents how regulatory uncertainty may undermine public service when different levels of government share a mandate on public service provision. I examine the Brazilian water and sanitation sector, which presents a natural experiment of shared provision between state and municipal companies. Using a difference-in-differences framework, I study a legal reform that clarified the relationship between municipal and state providers and eliminated any takeover threat by state companies. I find that after the reform, municipal companies almost doubled their total system investment, leading to significant increases in system access and decreases in child mortality. (JEL H77, L95, O13, O18, Q53)

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