Stock market reaction to regulatory price reviews in the English and Welsh water industry

Claudio Morana, John W. Sawkins

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

In this paper we analyze the effects of regulatory activity - specifically periodic price reviews in the English and Welsh water industry - using information on share price volatility. In controlling for different volatility components we identify and discuss general market, industry and firm idiosyncratic effects. We conclude that stock market investors were favorably disposed towards the outcome of the first, and the early stages of the process leading to the second, periodic review of prices in the industry.

Original languageEnglish
Pages (from-to)185-204
Number of pages20
JournalJournal of Regulatory Economics
Volume22
Issue number2
DOIs
Publication statusPublished - 2002

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