Towards a new policy framework for spectrum management in India

Sridhar, Varadharajan; Prasad, Rohit

doi:10.1016/j.telpol.2010.12.004

Cited by 26 publications

(8 citation statements)

References 10 publications

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“…This suggests that emerging economy governments are recommended to adopt productive policies of developed economies related to not only takeovers but also industry-specific guidelines such as spectrum allocation, competition pricing, lock-in criteria for business consolidation, and technology development. A good policy supports industry development and its contribution to economic progress as well as social development (Sridhar and Prasad, 2011). Importantly, because M&A research reveals that acquisition strategy has failed to produce superior value to bidder shareholders around the public announcement and has an insignificant effect on post-merger financial performance (even for telecom deals, Majumdar et al , 2012; Park et al , 2002; Trillas, 2002; Wilcox et al , 2001), telecom multinationals are suggested to estimate target country’s business prospects and industry concentration to avoid higher-percentage of takeover premium and hedge other investment risks in countries with policy uncertainty risk and low-income status.…”

Section: Discussionmentioning

confidence: 99%

The causes and consequences of delayed/abandoned cross-border merger & acquisition transactions

Reddy

Xie

Huang

2016

JOCM

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Purpose Drawing attention to the significant number of unsuccessful (abandoned) cross-border merger and acquisition (M&A) transactions in recent years, the purpose of this paper is to analyze three litigated cross-border inbound acquisitions that associated with an emerging economy – India, such as Vodafone-Hutchison and Bharti Airtel-MTN deals in the telecommunications industry, and Vedanta-Cairn India deal in the oil and gas exploration industry. The study intends to explore how do institutional and political environments in the host country affect the completion likelihood of cross-border acquisition negotiations. Design/methodology/approach Nested within the interdisciplinary framework, the study adopts a legitimate method in qualitative research, that is, case study method, and performs a unit of analysis and cross-case analysis of sample cases. Findings The critical analysis suggests that government officials’ erratic nature and ruling political party intervention have detrimental effects on the success of Indian-hosted cross-border deals with higher bid value, listed target firm, cash payment, and stronger government control in the target industry. The findings emerge from the cross-case analysis of sample cases contribute to the Lucas paradox – why does not capital flow from rich to poor countries and interdisciplinary M&A literature on the completion likelihood of international takeovers. Practical implications The findings have several implications for multinational managers who typically involve in cross-border negotiations. The causes and consequences of sample cases would help develop economy firms who intend to invest in emerging economies. The study also offers some implications of M&A for telecommunications and extractive industries. Originality/value Although a huge amount of extant research investigates why M&A fail to create value to the shareholders during the public announcement and post-merger stages, there is a significant dearth of research on the causes and consequences of delayed or abandoned national and international deals. The paper fills this knowledge gap by discussing an in-depth cross-case analysis of Indian-hosted cross-border acquisitions.

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Section: Discussionmentioning

confidence: 99%

The causes and consequences of delayed/abandoned cross-border merger & acquisition transactions

Reddy

Xie

Huang

2016

JOCM

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“…The spectrum usage charge increased with the amount of spectrum held. Additional spectrum was given based on the achievement of subscriber milestones (Sridhar & Prasad, 2011). Table 2 shows the subscriber linked spectrum usage charge in 2008.…”

Section: The Indian Telecommunications Marketmentioning

confidence: 99%

The production function methodology for estimating the value of spectrum

Prasad

2015

Telecommunications Policy

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“…Due to shortage of spectrum for commercial mobile services as indicated in the previous section, Indian government used a unique 'Subscriber Based Criterion' for assigning spectrum. This includes assignment of a start-up spectrum of 2.5-4.4 MHz and the release of additional spectrum contingent on the achievement of certain subscriber milestones as given in Sridhar and Prasad (2011). This piecemeal approach to spectrum assignment has also created non-contiguity of spectrum held by each operator as well.…”

Section: Assignment Of Spectrummentioning

confidence: 99%

Analysis of Factors Influencing Mobile First Strategy in India

Sridhar

2014

Review of Market Integration

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In emerging countries such as India, mobile is becoming the primary and possibly the only device for accessing Internet and other information services. In this article, we identify three variables, namely, (a) wireless broadband connectivity (b) affordable smartphones and (c) localised content and applications that drive the value proposition of Mobile First strategy in India. We identify the problems and challenges in all these three dimensions and propose policy prescriptions to overcome the same.

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Towards a new policy framework for spectrum management in India

Cited by 26 publications

References 10 publications

The causes and consequences of delayed/abandoned cross-border merger & acquisition transactions

The causes and consequences of delayed/abandoned cross-border merger & acquisition transactions

The production function methodology for estimating the value of spectrum

Analysis of Factors Influencing Mobile First Strategy in India

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