.png){kind=icon}
返回
Regulated equity returns: A puzzle
.png){kind=icon}
PRE
AI
DOI：10.1016/j.enpol.2019.110891.png)
.png){kind=icon}
原文求助.png){kind=icon}
分享.png){kind=icon}
收藏
摘要
En 中文
Based on a database of U.S. electric utility rate cases spanning nearly four decades, the returns on equity authorized by regulators have exhibited a large and growing premium over the riskless rate of return. This growing premium does not appear to be explained by traditional asset-pricing models, often in direct contrast to regulators' stated intent. We suggest possible alternative explanations drawn from finance, public policy, public choice, and the behavioral economics literature. However, absent some normative justification for this premium, it would appear that regulators are authorizing excessive returns on equity to utility investors and that these excess returns translate into tangible profits for utility firms.
Keyword:
Discount rate
Electric utility
Rate of return regulation
Valuation
AI总结
对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。
期刊
IF:
9.2
论文数:
1.6W
被引数:
6.8W
机构
引用论文
Interleukin 4 is a crucial cytokine in controlling Trypanosoma brucei gambiense infection in mice
PREAI
分享收藏
Splitting of the Frequency of Light scattered by Liquids and Optical Anisotropy of Molecules.png)
Nature
NatureIF0
PREAI
分享收藏RPL router discovery for supporting energy-efficient transmission in single-hop 6LoWPAN支持单跳6lowpan节能传输的RPL路由器发现
PREAI
分享收藏
查看更多内容