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Book Cover
E-book
Author Saraswathy, Beena

Title The Globalisation of Indian Business : Cross border Mergers and Acquisitions in Indian Manufacturing
Edition First edition
Published London : Taylor and Francis, 2017

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Description 1 online resource : text file, PDF
Series Routledge Studies in the Economics of Business and Industry
Contents Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Contents -- List of figures and tables -- List of abbreviations -- Preface -- 1 Introduction -- 1.1 Why firms are crossing borders? -- 1.2 Opportunities and challenges from consolidation -- 1.3 Emerging issues -- 2 Concepts, evolution and policy points -- 2.1 Concepts of mergers and acquisitions -- 2.2 Mergers and acquisitions in history: the case of USA and UK -- 2.3 Government intervention: merger regulations in India -- 2.4 The deal shaping process
3 Cross-border deals: extent, nature and structure3.1 An overview of global scenario -- 3.2 Industry-wise intensity of cross-border deals -- 3.3 Nature and significance of Indian deals -- 3.4 Foreign acquisition of Indian firms abroad (overseas acquisitions) -- 3.5 Issues for research -- 4 M & As and technological performance -- 4.1 M & As and innovation creation -- 4.2 Innovation concerns in the competition act -- 4.3 Data and methodology -- 4.4 Major observations based on pre- and post-M & As performance -- 4.5 Concluding observations and policy implications
5 Production efficiency of firms with mergers and acquisitions5.1 Efficiency generation via consolidation -- 5.2 Data and methodology for measuring efficiency -- 5.3 Empirical estimation results -- 5.4 Profitability and cost as efficiency indicators -- 5.5 Concluding observations and policy implication -- 6 Mergers, competition and concentration -- 6.1 The relationship between mergers and competition -- 6.2 A review of relevant studies -- 6.3 Data and methodology -- 6.4 The results: disappearance, survival and invisibility -- 6.5 Concluding observations
7 The post-merger integration: some ignored dimensions7.1 Mergers and acquisitions as a governance issue -- 7.2 Integration issues: evidence with an illustrative case study -- 7.3 Conclusion -- 8 Conclusions and policy inferences -- 8.1 Outcome of the study and the Competition Act -- Bibliography
Summary Consolidation activities such as mergers and acquisitions (M & As) have been one of the major strategies adopted by Indian firms to withstand global competition. M & As experienced a substantial increase in value and volume during the post-liberalization era, facilitated by the presence of foreign subsidiaries in the Indian market as well as competitive pressure on domestic firms. The increased foreign investment through M & As brought new dimensions to the fore such as the implications on technological performance, efficiency, and more importantly, competition in the Indian market. The Globalisation of Indian Business: Cross Border Mergers and Acquisitions in Indian Manufacturing provides an in-depth analysis of these issues, specifically aiming to understand whether the M & As strategies helped the firms to achieve their desired objectives in terms of improvement in technology, efficiency and market power in the context of the increase of M & As in India, using appropriate statistical and econometric techniques. The book is of additional importance in the context of the recently implemented Competition Act, replacing the thirty year old MRTP Act in India. The new Act aims to maintain competition and protect consumers' interests without harming that of the producers'. Based on the analysis, broadly, the study cautions the regulators to rethink the efficiency defence argument and become more vigilant on the creation of monopolies. On the other side, it suggests firms should reconsider their post-merger integration strategy since consolidation has not led to a sustainable increase in market share of the surviving firms
Subject BUSINESS & ECONOMICS -- Corporate Finance.
BUSINESS & ECONOMICS -- Industries -- Manufacturing Industries.
Form Electronic book
ISBN 9781315183633
1315183633