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Determinants of Research and Development Activity by Electric Utilities: Comment

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  • James B. Delaney
  • T. Crawford Honeycutt

Abstract

This comment examines a model of the determinants of electric utility R&D activity postulated by Wilder and Stansell. One of the defects in their empirical analysis is the failure to account for corporate interrelationships among the sample observations. Wilder and Stansell include as separate and independent observations joint venture companies, operating systems of holding companies, and subsidiaries of nonutility parent companies. After adjusting the original sample for these corporate affiliations, we estimated the Wilder and Stansell model for 1970 and 1972. Our empirical results do not support the Wilder and Stansell conclusion regarding the impact of current profitability on current research and development activity. We find that the sign and significance of the profitability measure are sensitive to the composition of the sample and to the particular time frame.

Suggested Citation

  • James B. Delaney & T. Crawford Honeycutt, 1976. "Determinants of Research and Development Activity by Electric Utilities: Comment," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 722-725, Autumn.
    • Handle: RePEc:rje:bellje:v:7:y:1976:i:autumn:p:722-725
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    Cited by:

    1. Jamasb, T. & Pollitt, M., 2005. "Deregulation and R&D in Network Industries: The Case of the Electricity Industry," Cambridge Working Papers in Economics 0533, Faculty of Economics, University of Cambridge.
    2. Schmitt, Stephan & Kucsera, Denes, 2013. "The Impact of the Regulatory Reform Process on R&D Investment of European Electricity Utilities," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 80035, Verein für Socialpolitik / German Economic Association.
    3. Jamasb, Tooraj & Pollitt, Michael, 2008. "Liberalisation and R&D in network industries: The case of the electricity industry," Research Policy, Elsevier, vol. 37(6-7), pages 995-1008, July.
    4. Yoonhwan Oh & Jungsub Yoon & Jeong-Dong Lee, 2016. "Evolutionary Patterns of Renewable Energy Technology Development in East Asia (1990–2010)," Sustainability, MDPI, vol. 8(8), pages 1-24, July.

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