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Should Infrastructure Regulators regulate Dividends? Hints from a Literature Survey

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  • Salvador Bertomeu
  • Antonio Estache

Abstract

This paper synthesizes the theoretical insights and the empirical evidence on the various dimensions that drive and/or should drive the dividend pay-out decisions of regulated firms if the interests of all stakeholders are to be accounted for. It then explains why, from a regulator’s perspective concerned with the fair treatment of investors as well as current and future consumers, most of the academic insights have been, so far, insufficient to guide, in practice, the assessments of dividend policies adopted by regulated companies. The survey concludes with a potential research agenda to help close the knowledge gaps

Suggested Citation

  • Salvador Bertomeu & Antonio Estache, 2019. "Should Infrastructure Regulators regulate Dividends? Hints from a Literature Survey," Working Papers ECARES 2019-18, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:eca:wpaper:2013/289916
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Regulation; Dividends; Utilities; Transport; Infrastructure;
    All these keywords.

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