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Increasingly Marginal Utilities: Diversification and Free Cash Flow in Newly Privatized UK Utilities

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  • Steve Thompson
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    File URL: http://hdl.handle.net/10.1023/A:1007748909146
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    Bibliographic Info

    Article provided by Springer in its journal Review of Industrial Organization.

    Volume (Year): 15 (1999)
    Issue (Month): 1 (August)
    Pages: 25-42

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    Handle: RePEc:kap:revind:v:15:y:1999:i:1:p:25-42

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    Web page: http://www.springerlink.com/link.asp?id=100336

    Related research

    Keywords: Diversification; free cash-flow; privatized utilities; regulated utilities;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Olivier J. Blanchard & Florencio Lopez-de-Silane, 1993. "What do Firms do with Cash Windfalls?," NBER Working Papers 4258, National Bureau of Economic Research, Inc.
    2. Grabowski, Henry G & Mueller, Dennis C, 1972. "Managerial and Stockholder Welfare Models of Firm Expenditures," The Review of Economics and Statistics, MIT Press, vol. 54(1), pages 9-24, February.
    3. Mueller, Dennis C, 1969. "A Theory of Conglomerate Mergers," The Quarterly Journal of Economics, MIT Press, vol. 83(4), pages 643-59, November.
    4. Thompson, R S & Wright, Mike & Robbie, Ken, 1992. "Management Equity Ownership, Debt and Performance: Some Evidence from UK Management Buyouts," Scottish Journal of Political Economy, Scottish Economic Society, vol. 39(4), pages 413-30, November.
    5. Griffin, James M & Wiggins, Steven N, 1992. "Takeovers: Managerial Incompetence or Managerial Shirking?," Economic Inquiry, Western Economic Association International, vol. 30(2), pages 355-70, April.
    6. Morck, Randall & Shleifer, Andrei & Vishny, Robert W, 1990. " Do Managerial Objectives Drive Bad Acquisitions?," Journal of Finance, American Finance Association, vol. 45(1), pages 31-48, March.
    7. L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
    8. Baltagi, Badi H & Griffin, James M, 1989. "Alternative Models of Managerial Behavior: Empirical Tests for the Petroleum Industry," The Review of Economics and Statistics, MIT Press, vol. 71(4), pages 579-85, November.
    9. Grabowski, Henry G & Mueller, Dennis C, 1975. "Life-Cycle Effects on Corporate Returns on Retentions," The Review of Economics and Statistics, MIT Press, vol. 57(4), pages 400-409, November.
    10. Thompson, Steve & Wright, Mike, 1995. "Corporate Governance: The Role of Restructuring Transactions," Economic Journal, Royal Economic Society, vol. 105(430), pages 690-703, May.
    11. Smith, C.W. & Watts, R.L., 1992. "The Investment Oppotunity set and Corporate Financing, Dividend and Compensation Policies," Papers 92-02, Rochester, Business - Financial Research and Policy Studies.
    12. Teece, David J., 1980. "Economies of scope and the scope of the enterprise," Journal of Economic Behavior & Organization, Elsevier, vol. 1(3), pages 223-247, September.
    13. Joskow, Paul L. & Rose, Nancy L. & Shepard, Andrea., 1993. "Regulatory constraints on executive compensation," Working papers 3550-93., Massachusetts Institute of Technology (MIT), Sloan School of Management.
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    Cited by:
    1. Bonardi, Jean-Philippe & Urbiztondo, Santiago & Quélin, Bertrand, 2009. "International expansion, diversification and regulated firms' nonmarket strategy," MPRA Paper 14436, University Library of Munich, Germany.
    2. Damian Ward, 2003. "Can Independent Distribution Function as a Mode of Corporate Governance?: An Examination of the UK Life Insurance Market," Journal of Management and Governance, Springer, vol. 7(4), pages 361-384, December.
    3. Trillas, Francesco, 2002. "The Structure of Corporate ownership in Privatized Utilities," CEPR Discussion Papers 3563, C.E.P.R. Discussion Papers.

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