Reluctant regulation

One more ride on the merry-go-round! Public ownership and delayed competition in local public services

“…This finding is consistent with results of the extant studies on the effect of public ownership on the regulatory outcomes in EU countries (Bortolotti et al, 2011(Bortolotti et al, , 2013Edwards and Waverman, 2006).…”

“…A number of works have emphasized the relevance of regulatory independence, which is subject to the institutional settings affecting the separation of powers, including an effective system of "checks and balances" among the different bodies through which democracy is made effective, the political system, i.e., the rules regulating elections and parties systems, and the enforcement of norms and rules (Levy and Spiller, 1994;Bortolotti et al, 2013).…”

“…Bortolotti et al (2011), using a panel of EU utilities, analyze how firm ownership and regulatory independence affect capital structure and regulated prices. 1 Bortolotti et al (2013), using the same panel employed in the previous work, focus on the impact of public ownership on the market value of regulated firms. All of these analyses have concluded that a case for regulatory failure exists in the contexts in which strong publicly controlled incumbents dominate network industries.…”

Independent regulation of government-owned monopolies: An oxymoron? The case of electricity distribution in Australia

“…A review of the regulation of postal services and electricity in Guernsey concluded that there is a serious issue in the application of price cap regulation to government-owned monopolies (Yarrow and Decker, 2010). In relation to electricity utilities in Europe (Bortolotti et al, 2013) find that when the company is subject to independent regulation, state ownership seems positively associated with firm value, and specifically where political institutions are weak, politicians may influence regulatory agencies in order to benefit state-owned firms.…”

Ownership patterns and control of top 100 Malaysian listed companies

“…Golden share define as a set of Government's special authority and legal constrictions on privatize firms [8]. This kind of control-ownership is dominant amongst major privatized utilities, for instance Tenaga Nasional Berhad and Malaysian Airlines [1].…”