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Measuring the effects of regulation: an event study of the English and Welsh water industry

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  • John Sawkins

Abstract

An event study methodology is used to identify and analyse the key regulatory initiatives taken by the economic regulator of the English and Welsh water industry during the period 1989-1994. By analysing movements in water company share returns relative to the stock market as a whole it is possible to see whether regulatory interventions had any effect on investor expectations. The results are consistent with the rejection of the hypothesis of regulatory capture, and with the view that the economic regulator sought to balance the demands of companies and customers through various policy initiatives.

Suggested Citation

  • John Sawkins, 1995. "Measuring the effects of regulation: an event study of the English and Welsh water industry," Applied Economics Letters, Taylor & Francis Journals, vol. 2(10), pages 359-362.
    • Handle: RePEc:taf:apeclt:v:2:y:1995:i:10:p:359-362
    DOI: 10.1080/758518989
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    Cited by:

    1. Growitsch, Christian & Müller, Gernot & Rammerstorfer, Margarethe & Weber, Christoph, 2007. "Determinanten der Preisentwicklung auf dem deutschen Minutenreservemarkt," WIK Discussion Papers 300, WIK Wissenschaftliches Institut für Infrastruktur und Kommunikationsdienste GmbH.
    2. Aristeidis Samitas & Dimitris Kenourgios & Peter Zounis, 2008. "Athens' Olympic Games 2004 impact on sponsors' stock returns," Applied Financial Economics, Taylor & Francis Journals, vol. 18(19), pages 1569-1580.

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