EconPapers    
Economics at your fingertips  
 

A taxa de remuneração do capital e a nova regulação das telecomunicações

Cost of capital and the new regulation of telecommunications services

Gabriel Bragança, Katia Rocha and Fernando Camacho ()

MPRA Paper from University Library of Munich, Germany

Abstract: An adequate rate of return on capital yielded by the regulated firms is a central issue related to the new cost-based approach adopted by the Brazilian Telecommunication Regulatory Agency (Anatel). In this context, careful attention must be given to the Weighted Average Cost of Capital (WACC) estimation. Downside bias can harm innovation and infrastructure future investment decisions and upside bias contradicts the government main directive to reduce tariffs and foster competition, in fact, both mistakes reduces social welfare. In this respect, the article intends to offer methodological insights, based on well-accepted theoretical achievements and best practices abroad, for the task of estimate a telecom WACC taking account of specific regulatory and sectorial Brazilian characteristics.

Keywords: Custo de Capital; Telecomunicações; Revisão Tarifária (search for similar items in EconPapers)
JEL-codes: G32 G38 (search for similar items in EconPapers)
Date: 2006-03
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Published in BNDES Setorial 23 (2006): pp. 151-192

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/5400/1/MPRA_paper_5400.pdf original version (application/pdf)

Related works:
Working Paper: A Taxa de Remuneração do Capital e a Nova Regulação das Telecomunicações (2006) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:5400

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2023-11-11
Handle: RePEc:pra:mprapa:5400