Determinants of Contract Duration: Further Evidence from Coal-Fired Power Plants

被引：15

作者：

Kozhevnikova, Maria ^{[1
]}

Lange, Ian ^{[2
]}

机构：

[1] Queens Coll, Flushing, NY 11367 USA

[2] Univ Stirling, Dept Econ, Stirling FK9 4LA, Scotland

来源：

REVIEW OF INDUSTRIAL ORGANIZATION | 2009年 / 34卷 / 03期

关键词：

Coal; Contract duration; Regulation; Transaction costs; LONG-TERM-CONTRACTS; EMPIRICAL-ANALYSIS; PRICE ADJUSTMENT; NATURAL-GAS; INTEGRATION; MARKETS;

D O I：

10.1007/s11151-009-9206-3

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Transactions cost theory predicts that the availability of alternatives is one of the determinants of contract duration. Over the last 20 years, the coal market has seen many regulatory changes that have generally increased the number of alternatives in the process of procuring coal. In this paper data from long-term coal contracts for electricity generation signed before 1999 are used to estimate the effect of increasing alternatives on contract duration. Empirical results tend to match transactions cost theory that increased alternatives reduces contract duration.

引用

页码：217 / 229

页数：13