Should Infrastructure Regulators regulate Dividends? Hints from a Literature Survey

Salvador Bertoméu Sánchez and Antonio Estache

No 2019-18, Working Papers ECARES from ULB -- Universite Libre de Bruxelles

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

Keywords: Regulation; Dividends; Utilities; Transport; Infrastructure (search for similar items in EconPapers)
Pages: 19 p.
Date: 2019-07
New Economics Papers: this item is included in nep-reg
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