Contract Completeness, Product Complexity, And Regulation: Evidence From Coal-Fired Power Plants
- Topics:
- Negotiations and Contracts
- Tags:
- Duration,
- Government,
- Management,
- Regulations,
- Strategy
- Source:
- University of Washington
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Overview: In this paper the publisher uses data from long term coal contracts for coal red plants to identify factors that contribute to contract completeness and con- tract duration. He considers the impact of the following factors: product complexity, transaction cost variables, and changes in industry regulation. Using a number of models, including two- and three-stage least squares to control for the simultaneity of the duration and completeness decision, the publisher find that duration and completeness do not influence each other once their simultaneity is controlled for. The publisher find, however, that duration and completeness are influenced by market-based regulatory reform and a number of transaction-cost variables.
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Format: PDF | Size: 170KB | Date: Sep 2006 | Pages: 17
