Financing questions are important in assessing firms in regulated sectors, such as telecommunications, as they have high debt levels. Concomitantly, a regulatory innovation influencing firms behavior has seen ‘cost-plus' rate of return regulation giving way to incentive-based ‘price-minus'...

We evaluate the impact of the various mergers of the local exchange companies that took place between 1988 and 2001 on several measures of performance of the firms that have undergone the mergers. Our analysis reveals that relative cash flows decrease after mergers, the pattern of accompanying...

In this study, based on the reasoning that financial considerations in influence investment patterns within the context of a network industry, we evaluate the effects of lower access prices and cross subsidization on investments in bandwidth-expanding technology by local exchange carriers in the...

In this paper we report the results of a study investigating U.S. institutional investors' myopia. Treating institutional ownership as an endogenous variable, we analyze whether institutions prefer to invest in those corporations which have a long-term orientation, as measured by their research...

This article reports an evaluation of the impact of horizontal ownership concentration on access pricing outcomes. Historical data of post-acquisition impacts on firms’ access outcomes have enabled analysis for the entire local exchange sector of the United States telecommunications industry....

Mergers and acquisitions in the Telecommunications industry have become a distinctive trend of the U.S. economy, with steady consolidation of carriers to head off or take on the competition. While the wealth effects of mergers have been extensively analyzed in prior literature, previous studies...

This study evaluates the human capital consequences of the several mergers of the local exchange companies that took place between 1988 and 2001. Many firms in the sector underwent one merger event while several firms have undergone two events. The levels of jobs and average wages in the firms...

This chapter examines the impact of changes in foreign exchange legislation on the levels of R&D undertaken by pharmaceutical firms in India. Foreign exchange legislation in India was codified as the FERA, passed in 1973, and the legislation was based on the mens rea principle, assuming criminal...