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The Cost of Capital: Estimating the Rate of Return for Public Utilities: Volume 3
 

The Cost of Capital: Estimating the Rate of Return for Public Utilities: Volume 3 (Trade Paperback / Paperback)

By Kolbe, A. Lawrence
By Jr., James A. Read
By Hall, George R.

One of the most contentious questions in public utility regulation is what fair rate of return to allow investors. This book spells out the advantages and disadvantages of the major methods used to estimate the required rate of return. It is a thorough review and critique that wi...ll prove valuable to all members of the regulatory community--commissions and their staff, legal and management counsel, and intervenors--and to students of finance and regulation. The point of departure is the cost of capital as a concept and the rationale for setting the allowed rate of return equal to the cost of capital. On this basis a comprehensive set of evaluation criteria are developed, including theoretical, practical, and empirical aspects. With the conceptual and methodological framework established, the authors proceed to evaluate the five major estimation methods: comparable earnings, discounted cash flow, capital asset pricing model, risk positioning, and market-to-book ratio. In addition, they survey new methods of estimating the cost of capital, such as the Arbitrage Pricing Theory, that are likely to be used more frequently in the future. Several related topics are treated in appendices. The goal of the book is not to choose a single best method, but to provide a systematic assessment of the strengths of each. A Charles River Associates Study.
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ISBN 9780262612128
Released NZ 15 Jul 2005
Publisher MIT Press Ltd
Format Trade Paperback/Paperback
Series Mit Press
Availability
Availability and pricing is uncertain (no recent updates from publisher)

Full details for this title

ISBN-13 9780262612128
Stock Out of stock
Status Availability and pricing is uncertain (no recent updates from publisher)
Publisher MIT Press Ltd
Imprint MIT Press
Released 15 Jul 2005
Publication Country United States United States
Format Trade Paperback/Paperback
Author(s) By Kolbe, A. Lawrence
By Jr., James A. Read
By Hall, George R.
Series Mit Press
Category Company Secretary: Role & Responsibilities
Number of Pages 196
Dimensions Width: 152mm
Height: 229mm
Spine: 20mm
Dewey Code 658
Weight 340g
Interest Age 18+ years
Reading Age 18+ years
NBS Text Management Techniques
ONIX Text Professional and scholarly

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