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Determinants of Research and Development Activity by Electric Utilities

Author

Listed:
  • Ronald P. Wilder
  • Stanley R. Stansell

Abstract

This paper develops a model of the determinants of R&D outlays of privately owned electric utilities and tests the model empirically with data for the years 1968 through 1970. The findings are that R&D outlays have an elasticity greater than one with respect to firm size, and are positively associated but relatively inelastic with respect to profitability. These results suggest that increasing firm size, either through merger or internal growth would have a favorable effect on R&D outlays. The results also imply that an increase in the regulated rate of return would not be an effective way to increase utility R&D outlays. There is no significant difference between the R&D behavior of utilities which do not fall under state regulation and those which are regulated.

Suggested Citation

  • Ronald P. Wilder & Stanley R. Stansell, 1974. "Determinants of Research and Development Activity by Electric Utilities," Bell Journal of Economics, The RAND Corporation, vol. 5(2), pages 646-650, Autumn.
    • Handle: RePEc:rje:bellje:v:5:y:1974:i:autumn:p:646-650
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    Cited by:

    1. Costa-Campi, M.T. & Duch-Brown, N. & García-Quevedo, J., 2014. "R&D drivers and obstacles to innovation in the energy industry," Energy Economics, Elsevier, vol. 46(C), pages 20-30.
    2. Evens Salies, 2010. "A Test of the Schumpeterian Hypothesis in a Panel of European Electric Utilities," Chapters, in: Jean-Luc Gaffard & Evens Salies (ed.), Innovation, Economic Growth and the Firm, chapter 6, Edward Elgar Publishing.
    3. Schmitt, Stephan & Kucsera, Denes, 2013. "The Impact of the Regulatory Reform Process on R&D Investment of European Electricity Utilities," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 80035, Verein für Socialpolitik / German Economic Association.
    4. Tooraj Jamasb & Michael Pollitt, 2005. "Deregulation and R&D in network industries: the case of the electricity industry," Working Papers EPRG 0502, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    5. repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09hc033ieaj is not listed on IDEAS
    6. Evens Salies & Lionel Nesta, 2010. "Libéralisation et dépôts de brevets verts des utilités électriques en Europe," SciencePo Working papers Main hal-01069447, HAL.
    7. Costa-Campi, M.T. & Duch-Brown, N. & García-Quevedo, J., 2014. "R&D drivers and obstacles to innovation in the energy industry," Energy Economics, Elsevier, vol. 46(C), pages 20-30.
    8. repec:hal:wpspec:info:hdl:2441/eu4vqp9ompqllr09hc033ieaj is not listed on IDEAS
    9. Sajid Anwar & Sizhong Sun, 2014. "Entry of foreign firms and the R&D behaviour: a panel data study of domestic and foreign firms in China's manufacturing sector," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 23(8), pages 739-757, November.
    10. Jamasb, Tooraj & Pollitt, Michael, 2008. "Liberalisation and R&D in network industries: The case of the electricity industry," Research Policy, Elsevier, vol. 37(6-7), pages 995-1008, July.
    11. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09hc033ieaj is not listed on IDEAS

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