Browsing by Subject "Deregulation"

Now showing 1 - 3 of 3

Open Access
Examining Retail Electricity Practices in Maryland
(2022-04-21) Ward, Brandon
The deregulation of electricity markets has allowed third-party suppliers in 15 states and Washington, D.C to compete with the traditional regulated utilities in offering the supply of electricity. The introduction of third-party suppliers to electricity markets has unfortunately come with claims of unethical marketing practices, and questions as to whether commercial and industrial consumer classes enjoy benefits that residential consumers do not because of economies of scale. This Masters Project examines the third-party electric marketplace across customer classes in Maryland. Results from this examination mostly suggests that residential consumers pay more for electric supply from third-party suppliers than they do from their regulated utility. This project also highlights reports of deceitful marketing practices in the third-party retail electric marketplace for Maryland.
Open Access
Explaining Merger and Acquisition Premiums in the U.S. Electric and Natural Gas Sectors in a Period of Deregulation from 1990-2012
(2013-04-17) Marks, Jonathan
This study aims to explain the variance in premiums, or the price paid for a target firm’s equity above its market value, in mergers and acquisitions with natural gas and electric target firms from 1990-2012, a period characterized by industry deregulation. Using a sample of 130 transactions, we test factors that have been shown to be related to premiums in general merger and acquisition studies as well as theorize and test new explanations for premium sizes. We find that premiums offered in our sample of natural gas and electric merger and acquisition transactions are smaller for stock transactions, are positively related to the ratio of acquirer to target firm size, and are negatively related to the percentage of target firm revenue derived from electric operations.
Open Access
Relax and Explode: How Financial Deregulation and Loose Monetary Policy Contributed to the 2003-2007 LBO Boom
(2012-04-24) Froehlich, Ben
This paper first details the general academic theory behind leveraged buyouts and then explores the financial deregulation effort undertaken by Congress and the Federal Reserve Board throughout the 1980s and 1990s. The piece demonstrates how changes in governmental decisions, specifically this deregulatory effort, coupled with lax monetary policy conducted by the Fed during Alan Greenspan’s reign, contributed to the 2003-2007 LBO boom.