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Risk And Return For Regulated Industries

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Risk and Return for Regulated Industries

Risk and Return for Regulated Industries Book
Author : Bente Villadsen,Michael J. Vilbert,Dan Harris,Lawrence Kolbe
Publisher : Academic Press
Release : 2017-04-27
ISBN : 0128125888
Language : En, Es, Fr & De

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Book Description :

Risk and Return for Regulated Industries provides a much-needed, comprehensive review of how cost of capital risk arises and can be measured, how the special risks regulated industries face affect fair return, and the challenges that regulated industries are likely to face in the future. Rather than following the trend of broad industry introductions or textbook style reviews of utility finance, it covers the topics of most interest to regulators, regulated companies, regulatory lawyers, and rate-of-return analysts in all countries. Accordingly, the book also includes case studies about various countries and discussions of the lessons international regulatory procedures can offer. Presents a unified treatment of the regulatory principles and practices used to assess the required return on capital Addresses current practices before exploring the ways methods play out in practice, including irregularities, shortcomings, and concerns for the future Focuses on developed economies instead of providing a comprehensive global reviews Foreword by Stewart C. Myers

Regulatory Risk Economic Principles and Applications to Natural Gas Pipelines and Other Industries

Regulatory Risk  Economic Principles and Applications to Natural Gas Pipelines and Other Industries Book
Author : A. Lawrence Kolbe,William B. Tye,Stewart C. Myers
Publisher : Springer
Release : 2012-09-30
ISBN : 9781461364214
Language : En, Es, Fr & De

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Book Description :

It is common to assert that utility investors are compensated in the allowed rate of return for the risk of large disallowances, such as arise for investments found imprudent or not `used and useful'. However, this book develops a new theory of asymmetric regulatory risk that shows that infallible estimates of the cost of capital are sure to provide downward-biased estimates of the necessary allowed rates of return in the presence of such regulatory risks. The book uses the new theory of regulatory risk to understand recent developments in the risk of natural gas pipelines and other regulated industries.

Quality Risk Management in the FDA Regulated Industry

Quality Risk Management in the FDA Regulated Industry Book
Author : José Rodríguez Pérez
Publisher : Quality Press
Release : 2012-06-12
ISBN : 0873898346
Language : En, Es, Fr & De

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Book Description :

Risk management principles are effectively utilized in many areas of business and government, including finance, insurance, occupational safety, and public health, and by agencies regulating these industries. The U.S. Food and Drug Administration (FDA) and its worldwide counterparts are responsible for protecting public health by ensuring the safety and effectiveness of the drugs and medical devices. Regulators must decide whether the benefits of a specific product for patients and users outweigh its risk, while recognizing that “absolute safety” (or zero risk) is not achievable. Every product and every process has an associated risk. Although there are some examples of the use of quality risk management in the FDA-regulated industry today, they are limited and do not represent the full contribution that risk management has to offer. The present FDA focus on risk-based determination is requiring that the regulated industries improve dramatically their understanding and capability of hazard control concepts. In addition, the importance of quality systems has been recognized in the life sciences industry, and it is becoming evident that quality risk management is a valuable component of an effective quality system. The purpose of this book is to offer a systematic and very comprehensive approach to quality risk management. It will assist medical and food product manufacturers with the integration of a risk management system or risk management principles and activities into their existing quality management system by providing practical explanations and examples. The appropriate use of quality risk management can facilitate compliance with regulatory requirements such as good manufacturing practices or good laboratory practices. The content of this book will provide FDA-regulated manufacturers with a framework within which experience, insight, and judgment are applied systematically to manage the risks associated with their products. Manufacturers in other industries may use it as an informative guidance in developing and maintaining a risk management system and process. The two appendices add even more insight: Appendix A contains general examples of risk management, while Appendix B includes 10 case studies illustrating real examples of the quality risk management process across the medical product arena.

Risk Management in Regulatory Frameworks

Risk Management in Regulatory Frameworks Book
Author : Lorenza Jachia,United Nations,Valentin Nikonov,United Nations. Economic Commission for Europe
Publisher : United Nations Publications
Release : 2013-05-23
ISBN : 9789211170689
Language : En, Es, Fr & De

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Book Description :

Recent years have been marked by many catastrophic events both natural and man-made. Close interconnections mean that the impact of these crises has been felt throughout the world. Although many tools have been developed to manage risks successfully, there can be no doubt that many of the losses we have recently witnessed could have been prevented or minimized, in the context of an effective and well-balanced regulatory system. The goal of this publication is to provide insights and recommendations for policymakers on designing regulatory systems that result in an efficient, effective and transparent management of risks. It introduces a holistic model of a regulatory system, function by function and with real-life examples, which is based on the objective of managing risks effectively.

Insurance Industry

Insurance Industry Book
Author : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly
Publisher : Unknown
Release : 1968
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Insurance Industry book written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

The Insurance Industry

The Insurance Industry Book
Author : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly
Publisher : Unknown
Release : 1958
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download The Insurance Industry book written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

The Insurance Industry

The Insurance Industry Book
Author : United States. Congress. Senate. Committee on the Judiciary
Publisher : Unknown
Release : 1959
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download The Insurance Industry book written by United States. Congress. Senate. Committee on the Judiciary, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

The Insurance Industry Automobile liability insurance

The Insurance Industry  Automobile liability insurance Book
Author : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly
Publisher : Unknown
Release : 1958
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download The Insurance Industry Automobile liability insurance book written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Competitive Problems in the Drug Industry

Competitive Problems in the Drug Industry Book
Author : United States. Congress. Senate. Committee on Small Business. Subcommittee on Monopoly
Publisher : Unknown
Release : 1967
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Competitive Problems in the Drug Industry book written by United States. Congress. Senate. Committee on Small Business. Subcommittee on Monopoly, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Competitive problems in the drug industry

Competitive problems in the drug industry Book
Author : United States. Congress. Senate. Select Committee on Small Business. Subcommittee on Monopoly and Anticompetitive Activities
Publisher : Unknown
Release : 1967
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Competitive problems in the drug industry book written by United States. Congress. Senate. Select Committee on Small Business. Subcommittee on Monopoly and Anticompetitive Activities, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Federal Register

Federal Register Book
Author : Anonim
Publisher : Unknown
Release : 1993-07-27
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Federal Register book written by , available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Handbook of Investigation and Effective CAPA Systems Second Edition

Handbook of Investigation and Effective CAPA Systems  Second Edition Book
Author : José Rodríguez-Pérez
Publisher : Quality Press
Release : 2016-04-04
ISBN : 0873899261
Language : En, Es, Fr & De

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Book Description :

Understanding and improving the CAPA system as a whole is the focal point of this book, the only of its kind dealing exclusively with this critical system within highly regulated industries. Features include: Information about the importance of the CAPA system within the quality system for the medical products regulated industry. Fully updated with current versions of regulations (U.S. FDA, EU, ISO 13485, and so on), and a new section covers the regulatory expectation of customer complaint investigations. Investigation and CAPA elements of the 2015 revision of the ISO 9001 standard. New coverage on the investigation plan and the new U.S. FDA quality metric guidance, as well as a section discussing the tight relationship between CAPAs and FMEA. A new chapter fully devoted to human errors and human factors, and their impact in the investigation and CAPA system. Discussion of a dozen of the most common pitfalls commonly encountered in the investigation and CAPA world of regulated companies. An example of an investigation and CAPA expert certification program being used for many companies. Forms and examples of the different elements (investigation report, root causes checklist, human error investigation, CAPA plan, and so on) covered in the book. Fully usable forms are also included in the companion CD in Microsoft Word format. While the first edition of this book was aimed solely at the FDA-regulated industry, the title of this second edition reflects the importance of the investigation/root cause analysis stage as the necessary preceding step of any effective corrective and preventive action system. Investigation and CAPA are concepts used in many sectors besides the FDA-regulated industry, such as: automotive, electronics, aerospace, telecommunications, process industry, and many more. This book will become an essential reference for those in these other industries.

How the Regulator Overpays Investor A Simple Exposition of the Principles of Tariff Setting

How the Regulator Overpays Investor  A Simple Exposition of the Principles of Tariff Setting Book
Author : Ignacio Velez-Pareja
Publisher : Unknown
Release : 2007
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

In this teaching note, we discuss the basic principles for tariff setting. Tariff setting is very important for regulated industries, such as water and power. The tariff should provide an appropriate risk-adjusted return to the investor. If the tariff were too low, then the investors would not be willing to invest. On the other hand, if the tariff were too high, then it would reduce the consumers' welfare.We examine the Rate of Return method for calculating the tariff in a regulated firm. In the rate of return method, the tariff compensates the investor for all the costs that the investor incurs, including a fair return. We use the discounted cash flow approach to value the return that the investor receives. The results of both calculations must be consistent.In particular, using simple examples, we show that in the presence of a positive expected inflation rate, the typical tariff calculation, Rate of return method, is an overestimation of the required payment to the equity holder.

Regulatory Risk Economic Principles and Applications to Natural Gas Pipelines and Other Industries

Regulatory Risk  Economic Principles and Applications to Natural Gas Pipelines and Other Industries Book
Author : A. Lawrence Kolbe,William B. Tye,Stewart C. Myers
Publisher : Springer Science & Business Media
Release : 2012-12-06
ISBN : 1461532345
Language : En, Es, Fr & De

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Book Description :

It is common to assert that utility investors are compensated in the allowed rate of return for the risk of large disallowances, such as arise for investments found imprudent or not `used and useful'. However, this book develops a new theory of asymmetric regulatory risk that shows that infallible estimates of the cost of capital are sure to provide downward-biased estimates of the necessary allowed rates of return in the presence of such regulatory risks. The book uses the new theory of regulatory risk to understand recent developments in the risk of natural gas pipelines and other regulated industries.

Measuring Regulatory Performance A Practitioner s Guide to Perception Surveys

Measuring Regulatory Performance A Practitioner s Guide to Perception Surveys Book
Author : OECD
Publisher : OECD Publishing
Release : 2012-01-16
ISBN : 926416717X
Language : En, Es, Fr & De

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Book Description :

This guide helps officials use perception surveys for evaluating and communicating progress in regulatory reform. It explains the challenges involved in the design and use of business and citizen perception surveys – and ways to overcome them.

Price Regulation and Risk

Price Regulation and Risk Book
Author : Michael Hierzenberger
Publisher : Springer Science & Business Media
Release : 2010-08-03
ISBN : 3642120474
Language : En, Es, Fr & De

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Book Description :

Natural monopolies are not subject to the market-based principle of competition. Consequently, it is necessary to control companies in such monopoly positions with regard to their pricing. In the future, it will become more and more important to consider a possible change in the regulation regime when the future-oriented costs of equity - both in terms of price regulation and for conducting capital market-oriented business valuations - are to be determined. Based on the principal-agent problem, the book explains this topic. The effect of a change in the regulation regime is presented in the form of two studies: an international secondary analysis of the effects on cost of equity based on event studies of the Anglo-Saxon area and a primary analysis based on the Austrian regulation policy for electricity and gas supply systems. The two studies arrive at similar results: The change from a rate-of-return regulation to incentive regulation systems leads to a significant increase in systematic risk.

Risk Management and Corporate Governance

Risk Management and Corporate Governance Book
Author : Anonim
Publisher : OCDE
Release : 2014
ISBN : 9789264208629
Language : En, Es, Fr & De

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Book Description :

This sixth peer review of the OECD Principles of Corporate Governance analyses the corporate governance framework and practices relating to corporate risk management, in the private sector and in state-owned enterprises. The review covers 26 jurisdictions and is based on a general survey of all participating jurisdictions in December 2012, as well as an in-depth review of corporate risk management in Norway, Singapore and Switzerland. The report finds that while risk-taking is a fundamental driving force in business and entrepreneurship, the cost of risk management failures is often underestimated, both externally and internally, including the cost in terms of management time needed to rectify the situation. The reports thus concludes that corporate governance should ensure that risks are understood, managed, and, when appropriate, communicated.

Energy Transportation Security Act of 1977

Energy Transportation Security Act of 1977 Book
Author : United States. Congress. House. Committee on Merchant Marine and Fisheries. Subcommittee on Merchant Marine
Publisher : Unknown
Release : 1977
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Energy Transportation Security Act of 1977 book written by United States. Congress. House. Committee on Merchant Marine and Fisheries. Subcommittee on Merchant Marine, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Fair Rate of Return in Property Liability Insurance

Fair Rate of Return in Property Liability Insurance Book
Author : J. David Cummins,Scott E. Harrington
Publisher : Springer Science & Business Media
Release : 2013-03-09
ISBN : 9401577536
Language : En, Es, Fr & De

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Book Description :

Property-liability insurance rates for most lines of business are regulated in about one-half of the states. In most cases, this me ans that rates must be filed with the state insurance commissioner and approved prior to use. The remainder of the states have various forms of competitive rating laws. These either require that rates be filed prior to use but need not be approved or that rates need not be filed at all. State rating laws are summarized in Rand Corporation (1985). The predominant form of insurance rate regulation, prior approval, began in the late 1940s following the V. S. Supreme Court decision in United States vs. South-Eastern Underwriters Association, 322 V. S. 533 (1944). This was an anti trust case involving one of four regional associa tions of insurance companies, which constituted an insurance cartel. The case struck down an earlier decision, Paul vs. Virginia, 8 Wall 168 (1869), holding that the business of insurance was not interstate commerce and hence that state regulation of insurance did not violate the commerce clause of the V. S. Constitution. Following South-Eastern Underwriters, the Vnited States Congress passed the McCarran-Ferguson Act, which held that continued state regulation and taxation of insurance was in the public interest. The act also held that the federal antitrust laws would not apply to insurance to the extent that the business was adequately regulated by state law. (See V. S. Department of Justice 1977.