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Determinants of Research and Development Activity by Electric Utilities

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  • Ronald P. Wilder
  • Stanley R. Stansell
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    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.

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    Bibliographic Info

    Article provided by The RAND Corporation in its journal Bell Journal of Economics.

    Volume (Year): 5 (1974)
    Issue (Month): 2 (Autumn)
    Pages: 646-650

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    Handle: RePEc:rje:bellje:v:5:y:1974:i:autumn:p:646-650

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    1. repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09hc033ieaj is not listed on IDEAS
    2. Maria Teresa Costa-Campi & Néstor Duch-Brown & José García-Quevedo, 2013. "R&D drivers and obstacles to innovation in the energy industry," Working Papers 2013/23, Institut d'Economia de Barcelona (IEB).
    3. Schmitt, Stephan & Kucsera, Denes, 2013. "The Impact of the Regulatory Reform Process on R&D Investment of European Electricity Utilities," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 80035, Verein für Socialpolitik / German Economic Association.

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