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Deregulation Competition And Merger Activity In The Us Telecommunications Industry
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Book Synopsis Deregulation, Competition and Merger Activity in the U.S. Telecommunications Industry by : Kevin Okoeguale
Download or read book Deregulation, Competition and Merger Activity in the U.S. Telecommunications Industry written by Kevin Okoeguale and published by . This book was released on 2015 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the 1996 Telecommunications Act as a natural experiment, I examine the role of competition in “how” economic shocks drive industry-level clustering of merger activity and “who buys whom?” In the telecom industry, deregulation opened both the local and long-distance markets to competition from new communication technologies, driving significant increases in IPO and merger activity. My findings support the view that the increase in merger activity following the 1996 deregulation was an efficiency-improving restructuring response to increased competition from deregulation and technological change, and not to increased misvaluation. The economic shocks from deregulation and technological change drive merger activity by increasing industry competition. I find no significant relationship between the level of merger activity and stock market misvaluation. I find evidence systematically relating telecom firms' performance and merger characteristics; pre-1996 deregulation levels of efficiency and leverage show up as important determinants of an incumbents' survival and/or merger fate; the more efficient and less leveraged incumbents are more likely to be the acquirers than the targets in mergers involving two incumbents.
Book Synopsis Competition Policy and Merger Analysis in Deregulated and Newly Competitive Industries by : Peter C. Carstensen
Download or read book Competition Policy and Merger Analysis in Deregulated and Newly Competitive Industries written by Peter C. Carstensen and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thorough analyses presented in the book provide the reader with a good overview of the deregulation process in the respective industries. . . Competition Policy and Merger Analysis in Deregulated and Newly Competitive Industries is a valuable resource for researchers of law, economics, and political science. . . Volker Soyez, European Competition Law Review This comprehensive book contains case studies on the evolution of competition policy, with an emphasis on merger policy, for seven major US industries that have experienced substantial deregulation in the past forty years electricity, natural gas, telecommunications, railroads, airlines, hospitals and banking. Also included is a comparison of the EU s experience in attempting to bring about competition in the energy, finance, and airline industries. The contributors to the volume, each a recognized expert on the industry examined, explore the positive and negative implications of the substitution of market-oriented processes for historic patterns of command and control regulation. The chapters reveal clear similarities in the economic, legal and public policy issues that have arisen following deregulation of these economic sectors. Together they provide a good basis to discern the consistency of the problems and the relative success of differing responses to these issues over a range of industries going through similar transformation. While taking a basically positive view of the movement away from direct regulation, the contributors identify a number of continuing problems with achieving workable competition in these industries. The thorough analyses presented here will be of great value to law, economics, and political science researchers interested in deregulation, economic consultants advising government agencies or private parties, attorneys who focus on deregulated industries, policy planners at the agencies overseeing these industries, and students in advanced seminars on economic regulation.
Author :United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications, Consumer Protection, and Finance Publisher : ISBN 13 : Total Pages :656 pages Book Rating :4.F/5 ( download)
Book Synopsis Status of Competition and Deregulation in the Telecommunications Industry by : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications, Consumer Protection, and Finance
Download or read book Status of Competition and Deregulation in the Telecommunications Industry written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications, Consumer Protection, and Finance and published by . This book was released on 1981 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Telecommunications Deregulation and the Information Economy by : James Shaw
Download or read book Telecommunications Deregulation and the Information Economy written by James Shaw and published by Artech House. This book was released on 2001 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive economic examination of the global competitive restructuring that is now occurring as a result of the US Telecommunications Act 1996. The book guides the reader to the most effective methods of building and enhancing competitive advantage in new markets.
Book Synopsis Telecommunications Deregulation by : James Shaw
Download or read book Telecommunications Deregulation written by James Shaw and published by Artech House Publishers. This book was released on 1998 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: Develop the economic and planning knowledge you need to successfully bring new products to market in the potentially unstable environment to telecommunications deregulation. This ground-breaking book presents the full interpretation of the law, evaluates the US Telecommunications Reform Act of 1996 in its entirety, and addresses the economic implications for prospective market restructuring, impending competition, and strategic planning.
Book Synopsis Competition and Chaos by : Robert W. Crandall
Download or read book Competition and Chaos written by Robert W. Crandall and published by Rowman & Littlefield. This book was released on 2005-04-26 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1996 Telecommunications Act was an attempt to increase competition among telecommunications providers in the United States by reducing regulatory barriers to market entry. This competition was expected to drive innovation in the telecommunications sector and reap economic benefits for both American consumers and telecommunications providers. The legislation, however, had a markedly different impact. While many of the more aggressive providers enjoyed sharp short-term rises in stock market values, they soon faced sudden collapse, leaving consumers with little or no long-term benefit. In Competition and Chaos, Robert W. Crandall analyzes the impact of the 1996 act on economic welfare in the United States and how the act and its antecedents affected the major telecommunications providers. He argues that the act was far too stringent, inviting the Federal Communications Commission and state regulators to micromanage competitive entry into local telecommunications markets. Combined with the bursting of the dot.com and telecom stock market bubbles, this aggressive policy invited new and existing firms to invest billions of dollars unwisely, leading to the 2001–02 collapse of equity values throughout the sector. New entrants into the market invested more than $50 billion in unproductive assets that were quickly wiped out through massive failures. The 1996 act allowed the independent long-distance companies, such as MCI and AT&T, to live a few years longer. But today they are a threatened species, caught in a downward spiral of declining prices and substantial losses. The industry is preparing for an intense battle for market share among three sets of carriers: the wireless companies, the local telephone carriers, and the cable television businesses. Each has its own particular advantage in one of the three major segments of the market—voice, data, and video—but none is assured a clear path to dominance. Although the telecom stock market collapse i
Book Synopsis Competition and Deregulation in Telecommunications by : Thomas James Duesterberg
Download or read book Competition and Deregulation in Telecommunications written by Thomas James Duesterberg and published by . This book was released on 1997 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to this book, the anticipated benefits of the Telecommunications Act of 1996 are proving elusive, as competiton has been slow to rise, and government agencies have been slow to implement the deregulation and market-opening processes specified in the new law. The authors argue that the pace of innovation and the telecom industry's demonstrated capacity to restructure itself efficiently show that the benefits of competition far outweigh the costs of trying to micromanage the industry through regulation.
Author :United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights Publisher : ISBN 13 : Total Pages :88 pages Book Rating :4.:/5 (327 download)
Book Synopsis SBC/ATT and Verizon/MCI Mergers by : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights
Download or read book SBC/ATT and Verizon/MCI Mergers written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights and published by . This book was released on 2005 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Telephone Companies in Paradise by : Milton Mueller
Download or read book Telephone Companies in Paradise written by Milton Mueller and published by Transaction Publishers. This book was released on 1993-01-01 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1986, the state of Nebraska completely discarded traditional utility regulation, deregulating rates and profits of its local telephone companies. The Nebraska experiment has become a benchmark for reassessing the role of state regulation in the future of telecommunications. Using comparative data from five midwestern states, Mueller shows how deregulation affected rates, investment, infrastructure modernization, and profits. He uncovers both positive and negative results. Mueller found established telephone companies to be basically conservative, not aggressive and expansionist, and concludes that new competition, not regulation or deregulation, is transforming the telecommunications industry.
Book Synopsis Telecommunications Deregulation by : John R. Allison
Download or read book Telecommunications Deregulation written by John R. Allison and published by Praeger. This book was released on 1990-12-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the breakup of AT&T in the early 1980s, many scholars and others have argued that telecommunications regulatory policy, especially at the state level, must change dramatically to fit new market conditions. To others, particularly state regulators, lawmakers, and smaller competitors, the proper response is one of slow, incremental change in regulatory policy. This volume explores these issues by using a unique multidisciplinary lens to focus on the problems of market power and cost allocation in long distance telecommunications markets. The contributors approach the subject from the traditional perspectives of economics and law but also incorporate developments in newer disciplines such as operations research, decision theory, policy analysis, and corporate strategy. Each section includes a series of main papers as well as critical reviews by scholars using methodologies from other disciplines. The result is an unusually comprehensive treatment of the complex regulatory issues facing the telecommunications industry today. The volume is divided into two primary sections which deal with market power and cost allocation in turn. The first part opens with a paper which examines market power from the perspective of legal analytics. Two economists then employ the methodologies of antitrust law and economics to survey the approaches of various states to the problem of identifying telecommunications market power. The third main paper in this section analyzes the market power concept from the particular economic perspective of contestable market theory. Turning to cost allocation issues, the contributors argue for the applicability to long distance markets of a new cost allocation methodology developed by NRRI for local exchange service. The topic is then approached by using a series of regulatory fables in which various possible incentive schemes are used to induce supposedly efficient behavior, with cost allocation as a resulting side issue. Each main paper is followed by one or more critical discussant papers. Finally, contributor Alfred Kahn draws on his long experience as a scholar and regulator to examine the current problems of telecommunications regulation in their historical context and to make some predictions about the future course of regulation in the industry. An important contribution to the business literature, this volume is a must acquisition for any library dealing with the telecommunication industry.
Book Synopsis Deregulatory Takings and the Regulatory Contract by : J. Gregory Sidak
Download or read book Deregulatory Takings and the Regulatory Contract written by J. Gregory Sidak and published by Cambridge University Press. This book was released on 1997-11-28 with total page 655 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 1998 book addresses deregulatory policies termed 'deregulatory takings' that threaten private property in network industries without compensation.
Book Synopsis Competition in the U.S. Telecommunications Market by : Mark D. Director
Download or read book Competition in the U.S. Telecommunications Market written by Mark D. Director and published by . This book was released on 1991 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Commerce, Science, and Transportation Publisher : ISBN 13 : Total Pages :92 pages Book Rating :4.F/5 ( download)
Book Synopsis Mergers in the Telecommunications Industry by : United States. Congress. Senate. Committee on Commerce, Science, and Transportation
Download or read book Mergers in the Telecommunications Industry written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation and published by . This book was released on 2002 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Deregulation of Network Industries by : Sam Peltzman
Download or read book Deregulation of Network Industries written by Sam Peltzman and published by Rowman & Littlefield. This book was released on 2011-04-01 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the airline, railroad, telecommunications, and electric power industries are at very different stages in adjusting to regulatory reform, each industry faces the same critical public policy question: Are policymakers taking appropriate steps to stimulate competition or are they turning back the clock by slowing the process of deregulation? This volume addresses that issue and identifies the next steps that policymakers should take to enhance public welfare in the provision of these services. Each chapter identifies the central policy issues that have arisen in each industry as it undergoes transformation to a deregulated environment. The authors reveal the flaws in the residual regulations and make the case for faster and more comprehensive deregulation. A concluding chapter identifies how interest groups continue to exert influence on regulatory agencies and on Congress, potentially undermining deregulation. The papers included here were initially presented in December 1999 at a conference sponsored and organized by the AEI–Brookings Joint Center for Regulatory Studies.
Book Synopsis Asymmetric Deregulation by : Eli M. Noam
Download or read book Asymmetric Deregulation written by Eli M. Noam and published by Praeger. This book was released on 1994 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: For almost a century, a relatively smooth cooperation characterized transatlantic communication; problems mostly involved technical compatibility and were resolved by technologists of the monopolistic telephone organizations on either side of the Atlantic. In recent years, however, the nature of international communications, its institutions, and its collaborative arrangements have radically changed. There now exists a great variety in the patterns of ownership and usage of telecommunications across different countries. This has led to a disequilibrium in the world telecommunications market that raises complex questions: Can evolving domestic deregulation be reconciled with an international regulatory regime? How does international trade regulation affect multinational governmental cooperation and private collaboration? Is competition viable in all sectors of the international telecommunications industry?
Book Synopsis The Failure of Antitrust and Regulation to Establish Competition in Long-distance Telephone Services by : Paul W. MacAvoy
Download or read book The Failure of Antitrust and Regulation to Establish Competition in Long-distance Telephone Services written by Paul W. MacAvoy and published by American Enterprise Institute. This book was released on 1996 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: MacAvoy shows how antitrust and regulation have failed to make long-distance markets competitive, to the detriment of consumers seeking prices in line with the costs of providing long-distance services.
Book Synopsis Deregulating Telecoms by : Jill Hills
Download or read book Deregulating Telecoms written by Jill Hills and published by Burns & Oates. This book was released on 1986 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
