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  • 1
    Electronic Resource
    Electronic Resource
    Evaluating the British Model of Electricity Deregulation (2004)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Annals of public and cooperative economics 75 (2004), S. 0 
    Details
    ISSN: 1467-8292
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract/〉:  A key aspect of the 1990 reforms to the British electricity supply industry was the introduction of a formal system of regulation by an autonomous regulatory body. It was expected that replacement of monopolies in some areas by markets and price-setting in monopoly areas using a simple incentive formula would mean that regulation of the industry would be ‘light’. This article examines how regulation has turned out in practice. It concludes that the promise of ‘light’ regulation has not been fulfilled. Regulation of competitive markets is a major regulatory activity, incentive regulation has evolved into a complex and intrusive form of rate-of-return, while regulation of industry structure has allowed the industry to descend into a concentrated, vertically integrated structure, at odds with the aims of the reforms.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-8292.2004.00256.x
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  • 2
    Electronic Resource
    Electronic Resource
    MACROECONOMIC FACTORS, THE APT AND THE UK STOCKMARKET (1994)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of business finance & accounting 21 (1994), S. 0 
    Details
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the macroeconomic sources of risk priced in the UK stockmarket between 1983 and 1990 using monthly data on 840 stocks to form both beta-sorted and market value sorted portfolios using the methodology proposed by Chen, Roll and Ross (1986) and Chan, Chen and Hsieh (1985) for the US. We find that several intuitively plausible macroeconomic variables were priced over this period using the beta sorted portfolios and that once these variables are included there is little role for the return on the market. However, when the market value sorted portfolios were used only inflation and a measure of equity market ‘expense’ relative to gilts was priced; furthermore with the market value sorted portfolios a role for the market return was found.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1468-5957.1994.tb00322.x
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  • 3
    Electronic Resource
    Electronic Resource
    Direct Evidence of Non-trading on the London Stock Exchange (2002)
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of business finance & accounting 29 (2002), S. 0 
    Details
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The extent of non-trading is shown to be much greater in the UK than in the more heavily researched US equity markets. Over the period 1975 to 1995 we find that almost 44% of all stocks in our sample failed to trade on the last day of a given month, a figure which is significantly higher than for stocks in the US (see Foerster and Keim, 1993). In this paper we investigate the relationship between the non-trading of UK stocks and the autoregressive and seasonal behaviour of UK stock returns. In addition, we find that stocks are much more likely to be recorded as not having traded on the last day of the month in the period prior to April 1981 than after this date. We trace this result to a reporting requirement change on the London Stock Exchange and investigate whether the change has any real implications for systematic risk estimates over this period. We also find that alternative methods for calculating betas, in the presence of thin trading, are very sensitive to stock size and to non-trading.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1468-5957.00423
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  • 4
    Electronic Resource
    Electronic Resource
    The Robustness of the APT to Alternative Estimators (1997)
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of business finance & accounting 24 (1997), S. 0 
    Details
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We test the robustness of the APT to two alternative estimation procedures: the Fama and MacBeth (1973) two-step methodology; and the one-step procedure due to Burmeister and McElroy (1988). We find that the APT is indeed sensitive to the chosen estimator and assumptions about the factor structure of stock returns. We believe that our findings have implications for the estimation of asset pricing models in general.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1468-5957.00126
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  • 5
    Electronic Resource
    Electronic Resource
    The Role of Payout Ratio in the Relationship Between Stock Returns and Dividend Yield (2004)
    Oxford, UK; Malden, USA : Blackwell Publishing Ltd/Inc.
    Journal of business finance & accounting 31 (2004), S. 0 
    Details
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Abstract:  This paper examines the relationship between returns and dividend yield in the UK stock market, and introduces earnings-related data to the asset pricing model in the form of payout ratio. The latter has a considerable effect upon the inferences which would otherwise be drawn from a study of the dividend yield-returns relationship in the absence of such earnings information. Payout ratio conveys additional signalling information and is an important adjunct to dividend yield in explaining returns.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.0306-686X.2004.00577.x
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  • 6
    Electronic Resource
    Electronic Resource
    Dividend Stability, Dividend Yield and Stock Returns: UK Evidence (2000)
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd
    Journal of business finance & accounting 27 (2000), S. 0 
    Details
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper establishes an empirical role for two measures of dividend stability (as a proxy for dividend policy) in explaining UK stock returns. There is little systematic empirical evidence concerning the relation between dividend stability, dividend yield and stock returns despite the fact that a variety of theoretical models point to dividend policy as an important stock attribute. Here we construct two definitions of dividend stability, one of which involves dividend cuts, and use a sample of all listed UK firms from 1975 to 1997 to explore the relationship between stock returns and a variety of characteristics, including dividend stability. We find an inverse correlation between the stability of past dividend policy and systematic risk. Both stability measures have explanatory power over returns, but this is concentrated in January.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/1468-5957.00313
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  • 7
    Electronic Resource
    Electronic Resource
    SIMULATION OF SALTWATER INTRUSION IN VOLUSIA COUNTY, FLORIDA (1986)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of the American Water Resources Association 22 (1986), S. 0 
    Details
    ISSN: 1752-1688
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Architecture, Civil Engineering, Surveying , Geography
    Notes: : Volusia County, in east central Florida, comprises approximately 1,200 square miles situated between the St. Johns River and the Atlantic Ocean. Most of the County is underlain by a three-aquifer system. Population centers in Volusia County, which create a large water demand, are located near the coast. Saltwater intrusion into the ground water near these population centers has led to relocation of public water supply wells further inland. Regional management of the county's water resources commissioned construction of a three-dimensional computer model of the county. Predevelopment simulation results were used as initial conditions for the development simulations, which included well discharge data. The predevelopment model calibration consisted of reproducing field-determined potentiometric surfaces. As part of the calibration process, sensitivity analyses were performed on boundary conditions, recharge rates, permeability, and leakage properties. Results of the model study indicate the utility of computer models as a management tool for the complex ground-water system in Volusia County.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1752-1688.1986.tb00767.x
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  • 8
    Electronic Resource
    Electronic Resource
    Reactions of aromatic radical anions. 13. Contributing factors for the partitioning reaction of sodium naphthalene with phenylacetonitrile (1977)
    s.l. : American Chemical Society
    The @journal of organic chemistry 42 (1977), S. 2858-2864 
    Details
    ISSN: 1520-6904
    Source: ACS Legacy Archives
    Topics: Chemistry and Pharmacology
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1021/jo00437a017
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  • 9
    Electronic Resource
    Electronic Resource
    THE INTEGRATION AND EFFICIENCY OF INTERNATIONAL BOND MARKETS (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of business finance & accounting 22 (1995), S. 0 
    Details
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1468-5957.1995.tb00687.x
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  • 10
    Electronic Resource
    Electronic Resource
    THE OVERREACTION HYPOTHESIS AND THE UK STOCKMARKET (1995)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of business finance & accounting 22 (1995), S. 0 
    Details
    ISSN: 1468-5957
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1468-5957.1995.tb00888.x
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