Liberalization Models in the Electricity Sector: The Impact of the Market for Corporate Control in Britain and Spain (1996–2010)
Bibliographic record
Abstract
Liberalization and re-regulation have brought along major changes in the regulated environment of utility industries, and particularly in the electricity sector. Nonetheless, the impact of these developments exhibits substantial differences. This article analyses the diverging impact of the market for corporate control (i.e. takeovers) on the evolution of the electricity sector in Britain and Spain. Takeovers have been prominent in the restructuring of the electricity sector in Britain. Every single privatised company has been acquired by foreign rivals in a short span of time. The Spanish electricity sector, in contrast, has been unequally exposed to takeovers: changes in ownership at Iberdrola and Union Fenosa were characterised by a friendly transition while Endesa has been acquired by Enel despite the preferences of Spanish policy-makers for the building of national champions. The argument presented in this article stresses the continuing importance of three key national institutions of corporate governance –ownership structures of listed companies; the system of corporate law and its associated voting rights procedures; and the degree of independence of regulatory authorities.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.001 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".