IDEAS home Printed from https://ideas.repec.org/a/ucp/jnlbus/v79y2006i4p1989-2018.html
   My bibliography  Save this article

Governance Structure Changes and Product Market Competition: Evidence from U.S. Electric Utility Deregulation

Author

Listed:
  • Craig G. Rennie

    (University of Arkansas)

Abstract

Electric utility deregulation associated with the 1992 Energy Policy Act represents a natural experiment for observing linkages between governance structure changes and product market competition. This study finds that governance structures of utilities are enhanced in their ability to control owner-manager agency conflict post-1992, but not by as much as comparable industrial firms. Incomplete utility deregulation leads to competition increases that are not as great as those of industrial firms. Governance structure enhancements of utilities lag behind those of industrial firms. Further deregulation is expected to stimulate competition, leading to governance structures that provide greater control of owner-manager agency conflict.

Suggested Citation

  • Craig G. Rennie, 2006. "Governance Structure Changes and Product Market Competition: Evidence from U.S. Electric Utility Deregulation," The Journal of Business, University of Chicago Press, vol. 79(4), pages 1989-2018, July.
  • Handle: RePEc:ucp:jnlbus:v:79:y:2006:i:4:p:1989-2018
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1086/503654
    File Function: main text
    Download Restriction: Access to the online full text or PDF requires a subscription.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Becher, David A. & Frye, Melissa B., 2011. "Does regulation substitute or complement governance?," Journal of Banking & Finance, Elsevier, vol. 35(3), pages 736-751, March.
    2. Chen, I-Ju, 2014. "Financial crisis and the dynamics of corporate governance: Evidence from Taiwan's listed firms," International Review of Economics & Finance, Elsevier, vol. 32(C), pages 3-28.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ucp:jnlbus:v:79:y:2006:i:4:p:1989-2018. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division). General contact details of provider: http://www.journals.uchicago.edu/JB/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.