Regulation Effects on Company Beta Components
Article Abstract:
A model is presented to analyze the impact of regulation on corporate risk. Findings show that the stricter the regulation, the more a firm's abnormal returns are likely to turn negative. England's electric utility industry is used as an illustration.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 2005
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Stochastic Unit Roots in the Capital Asset Pricing Model?
Article Abstract:
The article presents evidence for a stochastic unit root rather than a standard fixed unit root as a proxy for the risk-free interest rate in the U.S. The method is also applied to the capital asset pricing model.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 2005
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On the Equivalence of Two Concepts of Returns to Scale
Article Abstract:
Strict global versions of concepts of returns to scale were found to vary, while weak global versions were found to be equivalent. Implications are discussed.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 2004
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