Mergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Mergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry by : John R. Becker-Blease

Download or read book Mergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry written by John R. Becker-Blease and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As a response to the deregulation of the electric power industry, many electric utilities adopted a strategy of acquiring other electric or gas utilities. We examine whether these merger and acquisition strategies create value for the utility shareholders and whether the strategies result in superior post-merger operating and stock-price performance relative to utilities that did not grow through acquisitions. We find little evidence that the mergers and acquisitions created long-term value for a fully diversified investor. Furthermore, the stock price and operating performance of the acquirers under performed the stock price and operating performance of a control portfolio of utilities that did not engage in merger activity. This under performance was even worse for those utilities that diversified along product/power or geographic lines. We conclude that if efficiencies and synergies were created as a result of deregulation, utilities did not have to grow through merger to capture them. Our findings also suggest that utility regulation did not preclude economically efficient mergers that increased shareholder wealth from taking place prior to deregulation.

Regulating Mergers and Acquisitions of U.S. Electric Utilities: Industry Concentration and Corporate Complication

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Publisher : Edward Elgar Publishing
ISBN 13 : 1839109467
Total Pages : 576 pages
Book Rating : 4.8/5 (391 download)

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Book Synopsis Regulating Mergers and Acquisitions of U.S. Electric Utilities: Industry Concentration and Corporate Complication by : Scott Hempling

Download or read book Regulating Mergers and Acquisitions of U.S. Electric Utilities: Industry Concentration and Corporate Complication written by Scott Hempling and published by Edward Elgar Publishing. This book was released on 2020-10-30 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens when electric utility monopolies pursue their acquisition interests—undisciplined by competition, and insufficiently disciplined by the regulators responsible for replicating competition? Since the mid-1980s, mergers and acquisitions of U.S. electric utilities have halved the number of local, independent utilities. Mostly debt-financed, these transactions have converted retiree-suitable investments into subsidiaries of geographically scattered conglomerates. Written by one of the U.S.’s leading regulatory thinkers, this book combines legal, accounting, economic and financial analysis of the 30-year march of U.S. electricity mergers with insights from the dynamic field of behavioral economics.

The End of a Natural Monopoly

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Publisher : Routledge
ISBN 13 : 1135697000
Total Pages : 258 pages
Book Rating : 4.1/5 (356 download)

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Book Synopsis The End of a Natural Monopoly by : Daniel H. Cole

Download or read book The End of a Natural Monopoly written by Daniel H. Cole and published by Routledge. This book was released on 2003-07-17 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the fundamental issues underlying the debate over electric power regulation and deregulation. After decades of the presumption that the electric power industry was a natural monopoly, recent times have seen a trend of deregulation followed by panicked re-regulation.

Mergers, Acquisitions, and Market Power in the Electric Power Industry

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Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (366 download)

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Book Synopsis Mergers, Acquisitions, and Market Power in the Electric Power Industry by : Joseph Diamond

Download or read book Mergers, Acquisitions, and Market Power in the Electric Power Industry written by Joseph Diamond and published by . This book was released on 1997 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Deregulation of the California Electric Power Industry

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Publisher :
ISBN 13 :
Total Pages : 306 pages
Book Rating : 4.:/5 (429 download)

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Book Synopsis Deregulation of the California Electric Power Industry by : James Dixon Hornbuckle

Download or read book Deregulation of the California Electric Power Industry written by James Dixon Hornbuckle and published by . This book was released on 2000 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Long-Term Success of Mergers and Acquisitions in the International Automotive Supply Industry

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Publisher : Springer Science & Business Media
ISBN 13 : 3834994898
Total Pages : 213 pages
Book Rating : 4.8/5 (349 download)

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Book Synopsis The Long-Term Success of Mergers and Acquisitions in the International Automotive Supply Industry by : Jan-Peer Laabs

Download or read book The Long-Term Success of Mergers and Acquisitions in the International Automotive Supply Industry written by Jan-Peer Laabs and published by Springer Science & Business Media. This book was released on 2009-08-12 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a sample of 230 M&A between 1981 and 2007, Jan-Peer Laabs challenges the short-term return behavior of acquirers in this industry in contrast to their long-term performance based on capital market and financial accounting information. A clearly negative yet consistent perspective on the long-term value creation potential emerges across the different empirical analyses. An additional case study on the takeover of Siemens VDO by Continental AG offers a number of valuable key success factors and insights on how to evade the negative return destiny.

Mergers and Acquisitions Security

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Publisher : Elsevier
ISBN 13 : 0080470653
Total Pages : 273 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Mergers and Acquisitions Security by : Edward Halibozek

Download or read book Mergers and Acquisitions Security written by Edward Halibozek and published by Elsevier. This book was released on 2005-05-19 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: In reaction to the continually changing business climate companies develop many business strategies to increase their competitiveness and improve profitability. Companies regularly reshape themselves continually exploring new markets and developing new products. When they can't expand into new markets or develop new products on their own, they seek alternatives. These alternatives include merging with or acquiring other companies to create a single more capable company. Companies acquire other companies for a wide variety of reasons. In some cases company survival may actually be the reason. What does this condition mean to the security professional? In the course of mergers and acquisitions, security plays a vital role in helping to make the endeavor successful. There are numerous titles on the business aspects of M&A such as the ones listed below. However, this unique book focuses on the role security plays in helping to make a merger, acquisition or divestiture successful. It addresses the fundamental security elements that are required to support the effort. In addition, it provides an integrated "how to" approach to implementing M&A security complete with methods and processes that have been quickly and cost-effectively implemented. - First book available that focuses on the role of the Security Manager in M&A - Case studies that highlight the role of the security manager; cases include both best practices as well as illustrations of nightmare examples of what NOT to do - Lead author is an expert that has participated in/managed security for more than 20 high-profile and large-scale acquisitions - Model processes, procedures, checklists, charts and sample forms all serve to ease immediate analysis and implementation in a merger or acquisition

Handbook of Merger Control and Environmental Policy

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Publisher : Springer Nature
ISBN 13 : 3031635493
Total Pages : 262 pages
Book Rating : 4.0/5 (316 download)

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Book Synopsis Handbook of Merger Control and Environmental Policy by : Luis Gautier

Download or read book Handbook of Merger Control and Environmental Policy written by Luis Gautier and published by Springer Nature. This book was released on with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Power of Change

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Publisher : National Academies Press
ISBN 13 : 0309371422
Total Pages : 341 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis The Power of Change by : National Academies of Sciences, Engineering, and Medicine

Download or read book The Power of Change written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2016-09-30 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, supplied reliably and affordably, is foundational to the U.S. economy and is utterly indispensable to modern society. However, emissions resulting from many forms of electricity generation create environmental risks that could have significant negative economic, security, and human health consequences. Large-scale installation of cleaner power generation has been generally hampered because greener technologies are more expensive than the technologies that currently produce most of our power. Rather than trade affordability and reliability for low emissions, is there a way to balance all three? The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies considers how to speed up innovations that would dramatically improve the performance and lower the cost of currently available technologies while also developing new advanced cleaner energy technologies. According to this report, there is an opportunity for the United States to continue to lead in the pursuit of increasingly clean, more efficient electricity through innovation in advanced technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies makes the case that America's advantagesâ€"world-class universities and national laboratories, a vibrant private sector, and innovative states, cities, and regions that are free to experiment with a variety of public policy approachesâ€"position the United States to create and lead a new clean energy revolution. This study focuses on five paths to accelerate the market adoption of increasing clean energy and efficiency technologies: (1) expanding the portfolio of cleaner energy technology options; (2) leveraging the advantages of energy efficiency; (3) facilitating the development of increasing clean technologies, including renewables, nuclear, and cleaner fossil; (4) improving the existing technologies, systems, and infrastructure; and (5) leveling the playing field for cleaner energy technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies is a call for leadership to transform the United States energy sector in order to both mitigate the risks of greenhouse gas and other pollutants and to spur future economic growth. This study's focus on science, technology, and economic policy makes it a valuable resource to guide support that produces innovation to meet energy challenges now and for the future.

Coherency Management

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Publisher : AuthorHouse
ISBN 13 : 1438996071
Total Pages : 542 pages
Book Rating : 4.4/5 (389 download)

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Book Synopsis Coherency Management by : Gary Doucet

Download or read book Coherency Management written by Gary Doucet and published by AuthorHouse. This book was released on 2009 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book introduces the idea of Coherency Management, and asserts that this is the primary outcome goal of an enterprise's architecture. With submissions from over 30 authors and co-authors, the book reinforces the idea that EA is being practiced in an ever-increasing variety of circumstances - from the tactical to the strategic, from the technical to the political, and with governance that ranges from sell to tell. The characteristics, usages, value statements, frameworks, rules, tools and countless other attributes of EA seem to be anything but orderly, definable, classifiable, and understandable as might be hoped given heritage of EA and the famous framework and seminal article on the subject by John Zachman over two decades ago. Notably, EA is viewed as an Enterprise Design and Management approach, adopted to build better enterprises, rather than a IT Design and Management approach limited to build better systems.

State on Board!

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Publisher : Springer Nature
ISBN 13 : 9811635250
Total Pages : 270 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis State on Board! by : Nga Pham

Download or read book State on Board! written by Nga Pham and published by Springer Nature. This book was released on 2021-09-01 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in this book focuses on the strategic behaviour of the State as a shareholder in businesses, and the implications it has for the other shareholder(s) and business performance. It investigates the institutional characteristics of State-linked and State-owned firms (SIEs & SOEs), in emerging markets using Vietnam as a case study with comparative analysis on China and selected ASEAN countries. In doing so, the book adopts an evidence-based approach to explain the State’s role as a shareholder in the different aspects of corporate governance, including CEO appointment, board structure and impact of State ownership on business strategy and performance. It highlights the influence of the State as a shareholder by investigating institutional factors consistent with “path dependence” theory, which postulates that the initial and underlying structure of an economy influences its performance. In addition, the book presents empirical evidence of the dynamics of corporate governance arising from interactions between the State and other shareholders, which has not yet been addressed in the literature, and is distinctive in providing new insights from both qualitative and empirical research on how to successfully navigate the emerging market business environments from the perspective of the State as an “owner-participant”. Explaining the theoretical constructs in corporate governance in State-invested firms, empirical research methodologies, and results to draw and validate inferences, the book is comprehensive and provides a practical guide for practitioners as well as a reference for academics, undergraduate and postgraduate students. The new theoretical models proposed integrate traditional political-economic and agency theories, which also underpin tertiary business courses and academic research.

Deregulation of the Energy Industry

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Author :
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Deregulation of the Energy Industry by : Elisabeth Pendley

Download or read book Deregulation of the Energy Industry written by Elisabeth Pendley and published by . This book was released on 1995 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Antitrust Aspects of Electricity Deregulation

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Publisher :
ISBN 13 :
Total Pages : 170 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Antitrust Aspects of Electricity Deregulation by : United States. Congress. House. Committee on the Judiciary

Download or read book Antitrust Aspects of Electricity Deregulation written by United States. Congress. House. Committee on the Judiciary and published by . This book was released on 1997 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Competitive Issues in Electricity Deregulation

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Publisher :
ISBN 13 :
Total Pages : 170 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Competitive Issues in Electricity Deregulation by : United States. Congress. House. Committee on the Judiciary

Download or read book Competitive Issues in Electricity Deregulation written by United States. Congress. House. Committee on the Judiciary and published by . This book was released on 2000 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Energy Regulation and Markets Review

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Publisher :
ISBN 13 : 9781838624507
Total Pages : 423 pages
Book Rating : 4.6/5 (245 download)

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Book Synopsis The Energy Regulation and Markets Review by : David L. Schwartz (Lawyer)

Download or read book The Energy Regulation and Markets Review written by David L. Schwartz (Lawyer) and published by . This book was released on 2020 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Power System Restructuring and Deregulation

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Publisher : John Wiley & Sons
ISBN 13 : 9780471495000
Total Pages : 508 pages
Book Rating : 4.4/5 (95 download)

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Book Synopsis Power System Restructuring and Deregulation by : Loi Lei Lai

Download or read book Power System Restructuring and Deregulation written by Loi Lei Lai and published by John Wiley & Sons. This book was released on 2001-11-28 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die Umstrukturierung und Liberalisierung der Stromerzeugung brachte tiefgreifende Veränderungen des Marktes, des Wettbewerbs, der Technologien und nicht zuletzt der gesetzlichen Vorschriften mit sich. Dieser Band konzentriert sich auf die technischen Fortschritte und bespricht derzeit aktuelle Probleme anhand anschaulicher Fallstudien. So werden zum Beispiel neue Verfahren zur Vorhersage der Netzlast erläutert. Von international renommierten Experten geschrieben! (07/00)

Mergers, Acquisitions, and Corporate Restructurings

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Publisher : John Wiley & Sons
ISBN 13 : 1119380758
Total Pages : 676 pages
Book Rating : 4.1/5 (193 download)

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Book Synopsis Mergers, Acquisitions, and Corporate Restructurings by : Patrick A. Gaughan

Download or read book Mergers, Acquisitions, and Corporate Restructurings written by Patrick A. Gaughan and published by John Wiley & Sons. This book was released on 2017-11-27 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essential M&A primer, updated with the latest research and statistics Mergers, Acquisitions, and Corporate Restructurings provides a comprehensive look at the field's growth and development, and places M&As in realistic context amidst changing trends, legislation, and global perspectives. All-inclusive coverage merges expert discussion with extensive graphs, research, and case studies to show how M&As can be used successfully, how each form works, and how they are governed by the laws of major countries. Strategies and motives are carefully analyzed alongside legalities each step of the way, and specific techniques are dissected to provide deep insight into real-world operations. This new seventh edition has been revised to improve clarity and approachability, and features the latest research and data to provide the most accurate assessment of the current M&A landscape. Ancillary materials include PowerPoint slides, a sample syllabus, and a test bank to facilitate training and streamline comprehension. As the global economy slows, merger and acquisition activity is expected to increase. This book provides an M&A primer for business executives and financial managers seeking a deeper understanding of how corporate restructuring can work for their companies. Understand the many forms of M&As, and the laws that govern them Learn the offensive and defensive techniques used during hostile acquisitions Delve into the strategies and motives that inspire M&As Access the latest data, research, and case studies on private equity, ethics, corporate governance, and more From large megadeals to various forms of downsizing, a full range of restructuring practices are currently being used to revitalize and supercharge companies around the world. Mergers, Acquisitions, and Corporate Restructurings is an essential resource for executives needing to quickly get up to date to plan their own company's next moves.