"The Impact of Political Directors on Corporate Strategy for Government-Owned Utilities: Evidence from Ontario's Electricity Distribution Sector"
Adam R. Fremeth and Guy L.F. Holburn, May 2020
This paper draws on a survey of directors of municipally-owned electricity distribution utilities in Ontario to examine whether political directors (elected municipal councillors) have different views on corporate strategy from independent directors.
"Energy for off-grid homes: Reducing costs through joint hybrid system and energy efficiency optimization"
Ana Guerello, Shannon Page, Guy Holburn, Michaela Balzarova, November 2019
This paper develops a new process for identifying the lowest cost package of energy efficiency measures (EEM) and hybrid energy system configuration for off-grid homes.
International Association of Energy Economics Energy Forum Special Issue
Edited by Laura McLeod and Brian Rivard, August 2019
This year's Special Issue includes 17 articles from among 262 papers presented at the IAEE conference in Montreal. In selecting the articles, the editors tried to represent the diversity of issues that were discussed in the 60 concurrent sessions held over 3 days. They also tried to reflect the geographical dispersion of topics and authors participating at the conference.
"Spillovers From Regulating Corporate Campaign Contributions"
Adam R. Fremeth, Brian Kelleher Richter and Brandon Schaufele. Journal of Regulatory Economics, October 2018
Exploiting within firm-cycle cross-candidate variation and across firm-cycle variation, the authors demonstrate that the regulation of PAC campaign contributions generates large spillovers into other corporate political expenditures such as lobbying.
"Pollution and Politician Productivity: The Effect of PM on MPs"
Anthony Heyes, Nicholas Rivers and Brandon Schaufele. Land Economics, September 2018
"Signaling by Early Stage Startups: US Government Research Grants and Venture Capital Funding"
Mazhar Islam, Adam Fremeth and Alfred Marcus, Journal of Business Venturing, January 2018
In this paper, we study the value that signals have for startups in an emerging technology industry by examining the impact of government research grants on the recipients' ability to attract subsequent venture capital (VC) funding.
“A Forward Dynamic Optimization Strategy Under Contango Storage Arbitrage with Friction”
Behzad Ghafouri and Matt Davison. Journal of Energy Markets, September 2017
“Mathematical Properties and Financial Applications of a Novel Mean- reverting Random Walk in Discrete and Continuous Time”
Moosavi Avonleghi and Matt Davison. Journal of Energy Markets, March 2017
"New Vehicle Feebates"
Nicholas Rivers and Brandon Schaufele. Canadian Journal of Economics, February 2017
Governments around the world have looked at feebate policies to combat greenhouse gas emissions from cars. This paper is among the first to empirically evaluate a longstanding new vehicle feebate policy.
"Corporate Political Strategy in Contested Regulatory Environments."
Adam R. Fremeth, Guy L.F. Holburn and Richard G. Vanden Bergh. Strategy Science, December 2016
The authors examine how firms strategically manage opposition from organized stakeholders who participate in regulatory agency policy-making processes.
"The Role of Governance Systems and Rules in Wind Energy Development: Evidence from Minnesota and Texas."
Adam R. Fremeth and Marcus, A.A. Business and Politics, October 2016
Drawing on the ideas of J.Q. Wilson and E. Ostrom, the authors compare options for overcoming the obstacles that stand in the way of deploying wind energy in two U.S. states.
“Taxes, Volatility and Resources in Canadian Provinces."
Brandon Schaufele. Canadian Public Policy, June 2016
Tax policy often breeds controversy, especially when rate changes are motivated by volatile resource sectors. This paper examines how provincial tax policies respond to changes in resource revenues.
"Do Retailers Set Optimal Prices in the Case of the Retail Gasoline Market?"
Daero Kim, Matt Davison and Fredrik Odegaard. International Journal of Revenue Management, 2015
The authors discuss a special case in which they empirically fit a model where retailers set prices partly in response to local competitors.
"Real Options with Regulatory Policy Uncertainty."
Christian Maxwell and Matt Davison. Commodities, Energy and Environmental Finance, 2015
In this paper, the authors present a quantitative framework for modelling and interpreting regulatory changes for energy real options as a Poisson jump process, in a context where other relevant prices follow diffusion processes.
“The Effect of Carbon Taxes on Agricultural Trade.”
Nicholas Rivers and Brandon Schaufele. Canadian Journal of Agricultural Economics, September 2014
This study evaluates the implications of an existing carbon tax on international trade in the agricultural sector, with a focus on British Columbia’s carbon tax on all fossil fuels.
“New Vehicle Feebates: Theory and Evidence.”
Nicholas Rivers and Brandon Schaufele. Social Science Research Network, September 2014
Nic Rivers, Assistant Professor, University of Ottawa, and Ivey Assistant Professor Brandon Schaufele analyze Ontario’s long-running Tax and Credit for Fuel Conservation, suggesting that new vehicle feebates may be a feasible policy option to confront the external costs associated with driving.
“Integrated Market and Non-Market Strategies: Political Campaign Contributions around Merger and Acquisition Events in the Energy Sector.”
Guy L.F. Holburn and Richard G. Vanden Bergh. Strategic Management Journal, 2014
The U.S. electric utility industry has undergone considerable restructuring since the mid 1990s through corporate mergers and acquisitions, which are often contested in regulatory hearings by organized stakeholder groups. This paper finds that utilities typically increase their campaign contributions to state politicians in the year before public announcement of a proposed merger, consistent with a strategy of building political support for restructuring.
“The Impact of Consumer Advocates on Regulatory Policy in the Electric Utility Sector.”
Adam R. Fremeth, Guy L.F. Holburn, and Pablo T. Spiller. Public Choice, 2014
This paper looks at how consumer advocates affect Public Utility Commission decisions on utilities’ allowed financial returns and rate structures.
“Using Real Option Analysis to Quantify Ethanol Policy Impact on the Firm’s Entry into and Optimal Operation of Corn Ethanol Facilities.”
Christian Maxwell and Matt Davison. Energy Economics, 2014
Efforts to obtain fuel from environmentally friendly sources have led to increased subsidies for ethanol production from corn. However, the corn ethanol process has some critics. Using real option analysis, this paper assesses the optimal operating strategy for an ethanol production facility from management's perspective.
“Making Good Regulations.”
Paul Boothe. Canadian Public Policy, September 2013
Ivey Professor Paul Boothe examines the changing nature of regulation-making, arguing that the traditional process is breaking down and that the quality of regulation will decline if processes do not adapt to the changing environment.
“Salience of Carbon Taxes in the Gasoline Market.”
Nicholas Rivers and Brandon Schaufele. Social Science Research Network, June 2013
Nic Rivers, Assistant Professor, University of Ottawa, and Ivey Assistant Professor Brandon Schaufele evaluate the carbon tax imposed by British Columbia and its impact on the gasoline demand.
“Analyzing the Impact of Environmental Variables on the Repayment Time for Solar Farms Under Feed-in-Tariff.”
Bin Lu and Matt Davison. Environmental Systems Research, 2013
This Environmental Teams Research looks at the impact of the unpredictable solar insolation on the repayment time and the cash flow for solar plant developers.
“Strategic Rationale for Responding to Extra-Jurisdictional Regulation: Evidence from Firm Adoption of Renewable Power in the US.”
Adam R. Fremeth and J. Myles Shaver. Strategic Management Journal, 2013
This paper examined renewable-power provision in the U.S. electric utility sector between 2001 and 2006 and found that firms respond to extra-jurisdictional regulations as well as regulations in their home jurisdictions.
“Assessing and Managing Regulatory Risk in Renewable Energy: Contrasts between Canada and the United States.”
Guy L.F. Holburn. Energy Policy, March 2012
Ivey Associate Professor Guy Holburn assesses the foundation for how firms can assess regulatory risk that focuses on the policy-making processes and further develops strategies for how these firms can manage regulatory risks in different types of environments.
“Factors Affecting the Value of Environmental Predictions to the Energy Sector.”
Matt Davison, Ozgur Gurtuna, Claude Masse and Brian Mills. Environmental Systems Research, 2012
Since energy extraction, production, and transmission systems can be impacted by the state of the environment, it makes sense to try and forecast them. How important are these environmental predictions to the operator of a given energy system? Using case studies to determine what distinguishes economically valuable forecasts from economically less valuable forecasts, this paper suggests changes in public policy and industry practices that could help unlock value from currently underused forecasts.
"Geological Compressed Air Energy Storage as an Enabling Technology for Reneable Energy in Ontario, Canada."
James Konrad, Rupp Carriveau, Matt Davison, Frank Simpson and David S.K. Ting. The International Journal of Environmental Studies, 2012
"Assessing and Managing Regulatory Risk in Renewable Energy: Contrasts Between Canada and the United States."
Guy L.F. Holburn. Energy Policy, 2012
"Information Asymmetries and Regulatory Decision Costs: An Analysis of U.S. Electric Utility Rate Changes, 1980-2000."
Adam R. Fremeth and Guy L.F. Holburn. Journal of Law, Economics and Organization, 2012
"Optimal Control of Two-Dam Hydro Facility."
Matt Davison and Guangzhi Zhao. Systems Engineering Procedia, November 2011
"Carbon Emissions Markets."
Walid Mnif and Matt Davison. Quantitative Financial Risk Management, 2011
"Policy Risk and Private Investment in Ontario's Wind Power Sector."
Guy L.F. Holburn, Kerri Lui and Charles Morand. Canadian Public Policy, December 2010
"Governance and Regulation in the Electricity Sector: A Comparison of Alberta, British Columbia and Ontario."
Guy L.F. Holburn and Kerri Lui. June 2010
"Using a Spark-Spread Valuation to Investigate the Impact of Corn-Gasoline Correlation on Ethanol Plant Valuation."
Natasha Kirby and Matt Davison. Energy Economics, 2010
"Political Capabilities, Policy Risk, and International Investment Strategy: Evidence from the Global Electric Power Industry."
Guy L.F. Holburn and Bennet Zelner. Strategic Management Journal, 2010
"Contentious Implementation and Retrenchment in Neoliberal Policy Reform: The Global Electric Power Industry, 1989-2001."
Bennet Zelner, Witold J. Henisz and Guy L.F. Holburn. Administrative Sciences Quarterly, 2009
"Information Asymmetries and Regulatory Rate-Making: Case Study Evidence from Commonwealth Edison and Duke Energy."
Adam R. Fremeth and Guy L.F. Holburn. Regulation, Deregulation and Reregulation, 2009
"Making Friends in Hostile Environments: Political Strategy in Regulated Industries."
Guy L.F. Holburn and Richard Vanden Bergh. Academy of Management Review, 2008
"Nonmarket Strategy Performance: Evidence from U.S. Electric Utilities."
Guy L.F. Holburn, J.P. Bonardi and Richard Vanden Bergh. Academy of Management Journal, 2006
"Consumer Capture of Regulatory Institutions: The Diffusion of Public Utility Consumer Advocacy Legislation in the United States."
Guy L.F. Holburn and Richard Vanden Bergh. Public Choice, 2006
"Institutional or Structural: Lessons from International Electricity Sector Reforms."
Guy L.F. Holburn and Pablo Spiller. The Economics of Contracts: Theories and Applications, 2002