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Some Remark on Asset Pricing in the Environment of Regulated Gas Distribution in the Czech Republic

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  • Jiří Hnilica

Abstract

The paper deals with selected issues prevalent in the environment of regulated gas distribution. Regulation which ensures for investors an up-front known rate of return lead in valuation of an individual investment projects to obstacles we do not meet in other fully liberal markets. Solution of these obstacles often lies beyond the scope of investor´s interest, has potentionally tremendous macroeconomical consequences and there requires a tight cooperation between the companies in the industry and Regulator.

Suggested Citation

  • Jiří Hnilica, 2008. "Some Remark on Asset Pricing in the Environment of Regulated Gas Distribution in the Czech Republic," Ekonomika a Management, Prague University of Economics and Business, vol. 2008(1).
    • Handle: RePEc:prg:jnleam:v:2008:y:2008:i:1:id:12
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    References listed on IDEAS

    as
    1. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    2. Elton, Edwin J & Gruber, Martin J, 1971. "Valuation and the Cost of Capital for Regulated Industries," Journal of Finance, American Finance Association, vol. 26(3), pages 661-670, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    oceňování aktiv; Asset Pricing; regulace; Regulation; distribuce plynu; Gas distribution;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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