Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar)
Estimating the cost of capital in emerging markets presents greater difficulties because these markets have relatively illiquid capital markets and higher levels of sovereign risk, economic uncertainties, and political risks. Experience shows that in estimating cost of capital, energy regulators in...
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| Format: | Article |
| Language: | deu |
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Celal Bayar University
2012-01-01
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| Series: | Yönetim ve Ekonomi |
| Subjects: | |
| Online Access: | http://www2.bayar.edu.tr/yonetimekonomi/dergi/pdf/C19S12012/149_161.pdf |
| _version_ | 1797916878047281152 |
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| author | Mustafa GÖZEN |
| author_facet | Mustafa GÖZEN |
| author_sort | Mustafa GÖZEN |
| collection | DOAJ |
| description | Estimating the cost of capital in emerging markets presents greater difficulties because these markets have relatively illiquid capital markets and higher levels of sovereign risk, economic uncertainties, and political risks. Experience shows that in estimating cost of capital, energy regulators in emerging countries usually depend on the work and recommendations of their staff and/or outside consultancy services. Since the ultimate decision is made by regulators, they need to understand the challenges and key issues in estimating a fair and reasonable cost of capital for energy utilities. The article introduces and discusses the key issues and challenges that regulators have to deal with when estimating cost of capital. Unfortunately, there is no agreement among academics, regulators, bankers, and other practitioners on how to address the key issues and challenges in determining the cost of capital in emerging economies. This makes capital cost estimation even more difficult in emerging economies. |
| first_indexed | 2024-04-10T13:04:15Z |
| format | Article |
| id | doaj.art-dfc862d28c7d4419abe94c9b199fe920 |
| institution | Directory Open Access Journal |
| issn | 1302-0064 |
| language | deu |
| last_indexed | 2024-04-10T13:04:15Z |
| publishDate | 2012-01-01 |
| publisher | Celal Bayar University |
| record_format | Article |
| series | Yönetim ve Ekonomi |
| spelling | doaj.art-dfc862d28c7d4419abe94c9b199fe9202023-02-15T16:13:01ZdeuCelal Bayar UniversityYönetim ve Ekonomi1302-00642012-01-01191149161Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar)Mustafa GÖZENEstimating the cost of capital in emerging markets presents greater difficulties because these markets have relatively illiquid capital markets and higher levels of sovereign risk, economic uncertainties, and political risks. Experience shows that in estimating cost of capital, energy regulators in emerging countries usually depend on the work and recommendations of their staff and/or outside consultancy services. Since the ultimate decision is made by regulators, they need to understand the challenges and key issues in estimating a fair and reasonable cost of capital for energy utilities. The article introduces and discusses the key issues and challenges that regulators have to deal with when estimating cost of capital. Unfortunately, there is no agreement among academics, regulators, bankers, and other practitioners on how to address the key issues and challenges in determining the cost of capital in emerging economies. This makes capital cost estimation even more difficult in emerging economies.http://www2.bayar.edu.tr/yonetimekonomi/dergi/pdf/C19S12012/149_161.pdfCost Of CapitalWACCEnergy RegulationSermaye MaliyetiWACCEnerji Düzenlemesi |
| spellingShingle | Mustafa GÖZEN Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar) Yönetim ve Ekonomi Cost Of Capital WACC Energy Regulation Sermaye Maliyeti WACC Enerji Düzenlemesi |
| title | Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar) |
| title_full | Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar) |
| title_fullStr | Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar) |
| title_full_unstemmed | Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar) |
| title_short | Key Issues and Challenges in Estimating the Cost of Capital for Energy Network Utilities in Emerging Markets(Gelişmekte Olan Ülkelerde Enerji Şebeke Şirketleri İçin Sermaye Maliyetinin Tahminindeki Ana Konu ve Sorunlar) |
| title_sort | key issues and challenges in estimating the cost of capital for energy network utilities in emerging markets gelismekte olan ulkelerde enerji sebeke sirketleri icin sermaye maliyetinin tahminindeki ana konu ve sorunlar |
| topic | Cost Of Capital WACC Energy Regulation Sermaye Maliyeti WACC Enerji Düzenlemesi |
| url | http://www2.bayar.edu.tr/yonetimekonomi/dergi/pdf/C19S12012/149_161.pdf |
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