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Regulatory lag, efficiency, and performance. Lessons from a case study 监管滞后、效率和绩效。案例研究的启示
Q3 Business, Management and Accounting Pub Date : 2024-05-06 DOI: 10.1177/17835917241251811
Carlos F. Ceballos Ferroglio, Gustavo Ferro, Á. Neder
Our main contribution is to identify the risks implied by the existence of prolonged regulatory lags. We hypothesize that a likely first response is to reduce OPEX, increasing efficiency. If the lag persists for enough time, a vicious circle of inefficiency, disinvestment, and reduced performance can follow. We use a regulatory episode affecting natural gas distributors in Argentina as a natural experiment, controlling with other Latin American countries’ utilities not exposed to the same regulatory stimuli. We evaluate the relative efficiency of fourteen firms for five countries, in seven years, using Stochastic Frontiers Analysis (SFA). Thus, we perform a regulatory impact analysis (RIA) to assess the consequences on the performance of two idiosyncratic regulatory policy instruments applied in the distribution gas industry in Argentina in the 1998–2021 period (the 2002 Public Emergency Law and the 2016 Integral Tariff Review).
我们的主要贡献在于识别长期监管滞后所隐含的风险。我们假设,第一反应可能是减少运营支出,提高效率。如果滞后持续足够长的时间,就会出现效率低下、投资减少和业绩下降的恶性循环。我们将影响阿根廷天然气分销商的监管事件作为自然实验,并与未受到相同监管刺激的其他拉美国家公用事业公司进行对比。我们使用随机前沿分析法(SFA)评估了五个国家十四家公司在七年内的相对效率。因此,我们进行了监管影响分析(RIA),以评估 1998-2021 年间阿根廷配气行业所采用的两种特异性监管政策工具(2002 年《公共紧急状态法》和 2016 年《综合关税审查》)对其绩效的影响。
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引用次数: 0
Legal and ownership unbundling in the Turkish natural gas market: A comparative analysis 土耳其天然气市场的法律和所有权分拆:比较分析
Q3 Business, Management and Accounting Pub Date : 2024-02-24 DOI: 10.1177/17835917241233296
Yunus Emre Gürler, Sinan Ertemel, Matthias Finger, Muzaffer Eroğlu
This study introduces a theoretical framework for the Turkish natural gas market based on the principles of game theory and industrial organization. It investigates the effects of the legal and ownership unbundling on consumer surplus, social welfare, and competition. The model considers a mixed oligopoly with a transmission system operator (TSO), a state-owned incumbent, and a private firm. The state-owned incumbent is assumed to maximize consumer surplus and its own profit, while the private firm is assumed to be profit-maximizing. Additionally, the state-owned incumbent is assumed to be less efficient than the private firm. The game consists of three stages. In the first two stages, the state-owned incumbent and the private firm sequentially choose contract sizes in the upstream market. In the last stage, a contract size-restricted Cournot game is played. The findings of the study suggest that legal unbundling appears to offer greater advantages for consumer surplus and social welfare compared to ownership unbundling, particularly when considering key factors such as third-party access, non-tariff discrimination, and import liberalization. The results indicate that adopting the role of a Stackelberg follower by the state-owned incumbent in the upstream market is advantageous in terms of consumer surplus, social welfare, and competition under both unbundling approaches.
本研究以博弈论和产业组织原则为基础,介绍了土耳其天然气市场的理论框架。它研究了法律和所有权分拆对消费者剩余、社会福利和竞争的影响。该模型考虑了混合寡头垄断的情况,包括一家输电系统运营商(TSO)、一家国有企业和一家私营企业。假设国有企业追求消费者剩余和自身利润最大化,而私营企业追求利润最大化。此外,假设国有企业的效率低于私营企业。博弈由三个阶段组成。在前两个阶段,国有企业和私营企业依次选择上游市场的合同规模。在最后一个阶段,进行合同规模受限的库诺博弈。研究结果表明,与所有权松绑相比,法律松绑似乎能为消费者剩余和社会福利带来更大优势,特别是在考虑第三方准入、非关税歧视和进口自由化等关键因素时。研究结果表明,国有企业在上游市场扮演斯塔克尔伯格追随者的角色,对消费者剩余、社会福利和竞争都有利。
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引用次数: 0
Network utility price regulation in Australia in the pre-first world war years 第一次世界大战前澳大利亚的网络公用事业价格监管
Q3 Business, Management and Accounting Pub Date : 2024-01-17 DOI: 10.1177/17835917231225749
Malcolm Abbott
Australia has a long history of privately owned utility price regulation, one that is little known. This price control was designed to restrain the market power of several utilities (gas, rail, tramways, electricity, and water). The purpose of this paper, therefore, is to establish what types of price control that were used in Australia in the utilities sector before the First World War and to determine the degree to which this price control influenced efficiency. As price levels in this era were set in legislation, the lack of flexibility led to less-than-optimal outcomes, and eventually and led to new approaches were developed after 1912 to the utilities that remained in private ownership, and in some cases influenced the movement in Australia towards government control.
澳大利亚的私有公用事业价格管制由来已久,但鲜为人知。这种价格管制旨在限制几种公用事业(天然气、铁路、有轨电车、电力和供水)的市场力量。因此,本文旨在确定澳大利亚在第一次世界大战前对公用事业部门采用了哪些类型的价格管制,并确定这种价格管制对效率的影响程度。由于这个时代的价格水平是通过立法确定的,缺乏灵活性导致结果不尽如人意,最终导致 1912 年后针对仍为私人所有的公用事业制定了新的方法,并在某些情况下影响了澳大利亚向政府控制的转变。
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引用次数: 0
Canal of Nuck Endometrioma: An Uncommon Site of a Common Pathology. 纳克管子宫内膜瘤:常见病理的不常见部位。
Q3 Business, Management and Accounting Pub Date : 2023-12-01 Epub Date: 2023-06-10 DOI: 10.1007/s13224-023-01778-4
Shrishail Adke, Anjali Anant Bhoir, Khushboo Tekriwal
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引用次数: 0
Experimenting with co-ownership of energy storage facilities - A case study of the Netherlands 储能设施共同所有权试验--荷兰案例研究
Q3 Business, Management and Accounting Pub Date : 2023-11-28 DOI: 10.1177/17835917231219174
Jasper van den Boom
This article discusses how shared ownership of energy storage facilities between grid managers (Distribution System Operators and Transmission System Operators) and third-party market participants may help to resolve congestion issues. The article uses the Netherlands as a case study on how congestion issues may lead to a stalemate: increasing energy storage capacity may help to resolve grid congestion but may cause additional congestion if used to trade in profitable markets. As a result, it is not installed, or installation is delayed until the grid is fortified. The article discusses how shared ownership may lead to the co-optimization of investment decisions by different stakeholders and of the operation of the storage facility. It also discusses how the exemption to unbundling obligations under art. 36 (2) of Directive 2019/944 can be used to allow for these ownership constructions. The article argues that national regulatory authorities can use regulatory experimentation to find the desirable conditions and uses of the exemption and to stimulate regulatory learning. The use of experimentation can help to resolve congestion issues in certain localities in the short term and help to develop principles for regulation of the future energy system in the long-term.
本文讨论了电网管理者(配电系统运营商和输电系统运营商)与第三方市场参与者之间共享储能设施所有权如何有助于解决拥堵问题。文章以荷兰为例,分析了拥堵问题可能导致的僵局:增加储能容量可能有助于解决电网拥堵问题,但如果用于在有利可图的市场进行交易,则可能造成更多拥堵。因此,没有安装储能设备,或者推迟安装,直到电网得到加强。文章讨论了共享所有权如何能使不同利益相关者的投资决策和储能设施的运营实现共同优化。文章还讨论了第 2019 号指令第 36 (2) 条规定的分拆义务豁免。文章还讨论了如何利用第 2019/944 号指令第 36 (2) 条规定的分拆义务豁免来实现这些所有权结构。文章认为,国家监管机构可以利用监管实验来找到豁免的理想条件和用途,并促进监管学习。利用实验可以在短期内帮助解决某些地方的拥堵问题,并有助于制定未来能源系统的长期监管原则。
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引用次数: 0
Strategic interaction between wholesale and ancillary service markets 批发市场与辅助服务市场之间的战略互动
Q3 Business, Management and Accounting Pub Date : 2023-11-22 DOI: 10.1177/17835917231217125
David P. Brown, Andrew Eckert, Douglas Silveira
In electricity markets, ancillary services (AS) are vital to ensuring system reliability through the instantaneous balancing of supply and demand. An important current policy question is whether AS markets clear simultaneously or sequentially with wholesale markets. We develop a model to study the strategic implications of market timing. We demonstrate that a strategic incentive to reduce AS and, consequently, lower marginal cost in the wholesale market arises when markets clear sequentially. Using data from Alberta, we find that the strategic effect has a small impact on wholesale outcomes but a large impact on the AS market.
在电力市场中,辅助服务(AS)对于通过即时平衡供需来确保系统可靠性至关重要。当前一个重要的政策问题是,辅助服务市场是与批发市场同时清算还是依次清算。我们建立了一个模型来研究市场时机的战略影响。我们证明,当市场依次清算时,会产生减少 AS 的战略动机,从而降低批发市场的边际成本。利用阿尔伯塔省的数据,我们发现战略效应对批发结果的影响较小,但对 AS 市场的影响较大。
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引用次数: 0
Media plurality assessment as a public interest concern in UK merger control 媒体多元性评估是英国并购控制中的一个公共利益问题
Q3 Business, Management and Accounting Pub Date : 2023-10-27 DOI: 10.1177/17835917231213031
Ioannis Kokkoris
In the UK, following the enactment of the Communications Act 2003, amending the Enterprise Act 2002, the assessment of mergers involving broadcaster and/or newspaper enterprises is subject to – alongside the regular competition standard under the ‘substantial lessening of competition’ (SLC) test – a public interest standard. Under this standard, certain media mergers need to be assessed pursuant to the following considerations: media plurality, broadcasting standard objectives and free expression of opinion grounds. While the statute defines these terms ambiguously, it does provide guidance to the Secretary of State, the competition authority and the courts to decide how the statute is intended to be applied consistently. The paper will analyse how the media plurality test has been applied, some of the considerations of the CMA and OFCOM, and in doing so it will touch on the discretion of the decision making stakeholders.
在英国,随着《2003年通信法》的颁布,修订了《2002年企业法》,对涉及广播和/或报纸企业的合并进行评估,除了“竞争实质性减少”(SLC)测试下的常规竞争标准外,还需遵守一项公共利益标准。在这一标准下,某些媒体合并需要根据以下考虑因素进行评估:媒体多元化、广播标准目标和自由表达意见的理由。虽然法规对这些术语的定义含糊不清,但它确实为国务卿、竞争管理机构和法院决定如何一致地适用法规提供了指导。本文将分析媒体多元性测试是如何应用的,CMA和OFCOM的一些考虑,并在此过程中触及决策利益相关者的自由裁量权。
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引用次数: 0
Competition concerns in digital advertisement markets: Consolidating the regulatory approach for India 数字广告市场的竞争问题:巩固印度的监管方法
Q3 Business, Management and Accounting Pub Date : 2023-08-30 DOI: 10.1177/17835917231198117
S. Chauhan, Talin Bhardwaj
The digital advertisement market has brought many changes to the approach through which companies engaged in multifarious sectors endeavour to increase the outreach of their products and services. In light of the benefits provided by digital advertisement as opposed to traditional advertisement, companies have been shifting towards digital advertisement, which also has simultaneously increased the competition concerns in this segment. Since these markets prima facie seem to be characterised by technological complexities and lack of transparency, it has been difficult for antitrust regulators throughout the world to scrutinise the activities in this market. However, the recent probes launched by the European Commission into the alleged anti-competitive activities carried out by Google and Meta in this market have the potential of carving some landmark changes in the approach of antitrust authorities to pay increasing attention to the activities carried out by these market players. In furtherance, we have provided an analysis of the approach adopted by various antitrust authorities, and the competition concerns that emanate from this market. Further, we have also elucidated India’s position to regulate competition in digital advertisement markets and have also analysed some policy recommendations which can be implemented by the antitrust authorities.
数字广告市场给从事不同行业的公司增加其产品和服务的外延的方法带来了许多变化。鉴于数字广告与传统广告相比所提供的好处,公司已经转向数字广告,这也同时增加了对这一细分市场的竞争担忧。从表面上看,这些市场似乎具有技术复杂性和缺乏透明度的特点,因此,世界各地的反垄断监管机构很难审查这个市场的活动。然而,欧盟委员会最近对b谷歌和Meta涉嫌在该市场开展的反竞争活动展开的调查,有可能在反垄断当局的做法上产生一些里程碑式的变化,从而越来越多地关注这些市场参与者开展的活动。此外,我们还分析了不同反垄断机构采用的方法,以及这个市场产生的竞争问题。此外,我们还阐明了印度在规范数字广告市场竞争方面的立场,并分析了反垄断当局可以实施的一些政策建议。
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引用次数: 0
Competitiveness based logistics performance index: An empirical analysis in Organisation for Economic Co-operation and Development countries 基于竞争力的物流绩效指数:经济合作与发展组织国家的实证分析
Q3 Business, Management and Accounting Pub Date : 2023-06-01 DOI: 10.1177/17835917231185890
M. Polat, Karahan Kara, A. Acar
Logistics, beyond being a strategically important function for global supply chains, is a sector of considerable size in terms of the global economy. Thus, economy-wide logistics capabilities have a strategic impact at the national level, supporting countries to achieve a global competitive advantage. For this reason, the logistics performances of the countries not only show the success of using their existing logistics capabilities but also provide significant indications about their competitiveness at the global level. Due to this strategic impact, this study aims to deal with the logistics performances of OECD countries from the perspective of competitiveness and to determine the competitiveness-based logistics performance index (CB-LPI). For this purpose, data envelopment analysis has been applied with two different techniques. The input variables are the Global Competitiveness Index, and the output variables are the Logistic Performance Index. In this empirical study, 7 inputs (infrastructure, skills, product market, financial system, information and communication technology adoption, business dynamism, innovation capability) and 6 output variables (Customs, Infrastructure, International shipments, Logistics quality and competence, Tracking and tracing, Timeliness) have been used. This study is handled in a total of 5 periods. These periods are 2010, 2012, 2014, 2016 and 2018. As a result, it was determined that the competitive logistics performances of 8 countries (Australia, Germany, Italy, Mexico, Poland, Portugal, Spain, and Turkey) were at the level of full efficiency in each period in the application of both techniques. In addition, the CB-LPI covering all OECD countries has been established. Based on the scores obtained, country-based suggestions for countries have been developed.
物流除了是全球供应链的一项具有重要战略意义的职能外,在全球经济中也是一个规模相当大的部门。因此,整个经济体的物流能力在国家层面具有战略影响,支持各国实现全球竞争优势。因此,这些国家的物流表现不仅表明它们成功地利用了现有的物流能力,而且也表明了它们在全球层面的竞争力。由于这种战略影响,本研究旨在从竞争力的角度处理经合组织国家的物流绩效,并确定基于竞争力的物流绩效指数(CB-LPI)。为此,数据包络分析采用了两种不同的技术。输入变量为全球竞争力指数,输出变量为物流绩效指数。在这项实证研究中,使用了7个输入(基础设施、技能、产品市场、金融系统、信息和通信技术采用、商业活力、创新能力)和6个输出变量(海关、基础设施、国际货运、物流质量和能力、跟踪和追踪、及时性)。本研究共分5个阶段进行。这些时期分别为2010年、2012年、2014年、2016年和2018年。因此,确定了8个国家(澳大利亚、德国、意大利、墨西哥、波兰、葡萄牙、西班牙和土耳其)在这两种技术的应用方面,在每个时期的竞争性物流表现都处于充分有效的水平。此外,还建立了涵盖所有经合组织国家的CB-LPI。根据获得的分数,制定了针对各国的国别建议。
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引用次数: 0
Estimating the adoption of electric vehicles: A case study of four Indian states 估计电动汽车的采用:印度四个邦的案例研究
Q3 Business, Management and Accounting Pub Date : 2023-06-01 DOI: 10.1177/17835917231180837
Krishna Saw, Ashu Kedia
Rapid growth in petrol and diesel-powered vehicles has resulted in significant increases in tailpipe greenhouse gas emissions and air pollution, both of which harm public health in Indian cities. Furthermore, India’s dependence on imported fuel to transport people and goods threatens its fuel security. Therefore, electric mobility has been sought to deal with these issues. The governments have framed several plans and policies to promote electric vehicles (EVs) and achieve the target of EV30@30. However, EV adoption in Indian states has been slow. Therefore, this paper aims to estimate the number of EVs needed to be registered to achieve the desired target by 2030 by taking a case study of four states: Delhi, Uttar Pradesh, Karnataka, and Gujarat. The vehicular registration data used in this paper has been obtained from the government database. The study looks at the EV adoption rates of passenger vehicles such as two-wheelers, cars, auto-rickshaws (including e-rickshaws), and buses. According to the findings, the average annual share of passenger EVs is less than 2% in Delhi, less than 1% in Uttar Pradesh, and less than 0.5% in Karnataka and Gujarat during the study period. According to the models’ estimates, Delhi, Uttar Pradesh, Gujarat, and Karnataka will need to register 0.31 million, 1.51 million, 0.88 million, and 0.79 million passenger EVs, respectively, in FY 2030–2031 to achieve a 30% EV share of total registrations.
汽油和柴油动力汽车的快速增长导致尾气温室气体排放和空气污染显著增加,这两种情况都损害了印度城市的公共健康。此外,印度对进口燃料运输人员和货物的依赖威胁到其燃料安全。因此,人们寻求电动出行来解决这些问题。政府制定了几项计划和政策来推广电动汽车,并实现EV30@30.然而,电动汽车在印度各州的应用一直很缓慢。因此,本文旨在通过对德里、北方邦、卡纳塔克邦和古吉拉特邦四个邦的案例研究,估计到2030年实现预期目标所需注册的电动汽车数量。本文中使用的车辆登记数据是从政府数据库中获得的。这项研究考察了两轮车、轿车、人力车(包括电动人力车)和公交车等乘用车的电动汽车采用率。根据研究结果,在研究期间,德里的乘用电动汽车年均份额不到2%,北方邦不到1%,卡纳塔克邦和古吉拉特邦不到0.5%。根据模型估计,在2030-2031财年,德里、北方邦、古吉拉特邦和卡纳塔克邦将分别需要注册31万辆、151万辆、88万辆和79万辆乘用车电动汽车,以实现电动汽车在总注册量中30%的份额。
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引用次数: 0
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Competition and Regulation in Network Industries
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