Breunig, Robert; Stacey, Scott; Hornby, Jeremy; Menezes, Flavio
We assembled a database consisting of fifty two regulatory decisions, involving two hundred and fifty four annual observations, made by seven different regulators and across five different industries. For each of these observations we construct a variable that represents the proportion of the firms’ cost claims that were disallowed by the regulator when determining the maximum revenue. We then attempt to explain this fraction by using categorical variables representing the regulator, the...[Show more]
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