{"id":"https://openalex.org/W7224078366","doi":"https://doi.org/10.5281/zenodo.23735079","title":"Mergers and Acquisitions in India and Their Impact on the Operating Efficiency of the Indian Acquiring Company: A Legal and Empirical Assessment","display_name":"Mergers and Acquisitions in India and Their Impact on the Operating Efficiency of the Indian Acquiring Company: A Legal and Empirical Assessment","publication_year":2026,"publication_date":"2026-10-28","ids":{"openalex":"https://openalex.org/W7224078366","doi":"https://doi.org/10.5281/zenodo.23735079"},"language":"en","primary_location":{"id":"doi:10.5281/zenodo.23735079","doi":"https://doi.org/10.5281/zenodo.23735079","is_oa":true,"landing_page_url":"https://doi.org/10.5281/zenodo.23735079","pdf_url":null,"source":{"id":"https://openalex.org/S4306400562","display_name":"Zenodo (CERN European Organization for Nuclear Research)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I67311998","host_organization_name":"European Organization for Nuclear Research","host_organization_lineage":["https://openalex.org/I67311998"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"},"volume":null,"type":"article","indexed_in":["datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.5281/zenodo.23735079","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5160011458","display_name":"Bhargav Ganti","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Bhargav Ganti","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5160011458"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.89236476,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11043","display_name":"Merger and Competition Analysis","score":0.0020000000949949026,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/mergers-and-acquisitions","display_name":"mergers and acquisitions","score":1.0},{"id":"https://openalex.org/keywords/operational-efficiency","display_name":"operational efficiency","score":0.9279999732971191},{"id":"https://openalex.org/keywords/companies-act-2013","display_name":"Companies Act 2013","score":0.8899999856948853},{"id":"https://openalex.org/keywords/competition-act-2002","display_name":"Competition Act 2002","score":0.9980000257492065},{"id":"https://openalex.org/keywords/post-merger-performance","display_name":"post-merger performance","score":0.8100000023841858},{"id":"https://openalex.org/keywords/synergy-measurement","display_name":"synergy measurement","score":0.5450000166893005},{"id":"https://openalex.org/keywords/tata-motors","display_name":"Tata Motors","score":0.6460000276565552},{"id":"https://openalex.org/keywords/jaguar-land-rover","display_name":"Jaguar Land Rover","score":0.9710000157356262},{"id":"https://openalex.org/keywords/ranbaxy","display_name":"Ranbaxy","score":0.9599999785423279},{"id":"https://openalex.org/keywords/hdfc-bank","display_name":"HDFC Bank","score":0.7760000228881836},{"id":"https://openalex.org/keywords/hdfc","display_name":"HDFC","score":0.550000011920929},{"id":"https://openalex.org/keywords/post-merger-integration","display_name":"post-merger integration","score":0.4309999942779541},{"id":"https://openalex.org/keywords/regulatory-compliance","display_name":"regulatory compliance","score":0.546999990940094}],"concepts":[{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.7184000015258789},{"id":"https://openalex.org/C2780253743","wikidata":"https://www.wikidata.org/wiki/Q132382","display_name":"Presumption","level":2,"score":0.6646000146865845},{"id":"https://openalex.org/C91306197","wikidata":"https://www.wikidata.org/wiki/Q45767","display_name":"Competition (biology)","level":2,"score":0.6287999749183655},{"id":"https://openalex.org/C548217281","wikidata":"https://www.wikidata.org/wiki/Q731112","display_name":"Mergers and acquisitions","level":2,"score":0.5936999917030334},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.5748000144958496},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5486999750137329},{"id":"https://openalex.org/C127576917","wikidata":"https://www.wikidata.org/wiki/Q624630","display_name":"Competitor analysis","level":2,"score":0.46059998869895935},{"id":"https://openalex.org/C158129432","wikidata":"https://www.wikidata.org/wiki/Q7766927","display_name":"Statutory law","level":2,"score":0.451200008392334},{"id":"https://openalex.org/C74370782","wikidata":"https://www.wikidata.org/wiki/Q722249","display_name":"Operating margin","level":4,"score":0.42170000076293945},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.412200003862381},{"id":"https://openalex.org/C98045186","wikidata":"https://www.wikidata.org/wiki/Q205663","display_name":"Process (computing)","level":2,"score":0.3873000144958496},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.3544999957084656},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3521000146865845},{"id":"https://openalex.org/C120936955","wikidata":"https://www.wikidata.org/wiki/Q2155640","display_name":"Empirical research","level":2,"score":0.35010001063346863},{"id":"https://openalex.org/C181169782","wikidata":"https://www.wikidata.org/wiki/Q1571520","display_name":"Vertical integration","level":2,"score":0.3361000120639801},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.30250000953674316},{"id":"https://openalex.org/C16051113","wikidata":"https://www.wikidata.org/wiki/Q828814","display_name":"Market share","level":2,"score":0.2955999970436096},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.2766999900341034},{"id":"https://openalex.org/C148220186","wikidata":"https://www.wikidata.org/wiki/Q7111912","display_name":"Outcome (game theory)","level":2,"score":0.27399998903274536},{"id":"https://openalex.org/C2778964270","wikidata":"https://www.wikidata.org/wiki/Q7097774","display_name":"Operational efficiency","level":2,"score":0.2720000147819519},{"id":"https://openalex.org/C2778782607","wikidata":"https://www.wikidata.org/wiki/Q445014","display_name":"Relevant market","level":3,"score":0.26330000162124634},{"id":"https://openalex.org/C2781316041","wikidata":"https://www.wikidata.org/wiki/Q1230584","display_name":"Diversity (politics)","level":2,"score":0.25699999928474426},{"id":"https://openalex.org/C12958728","wikidata":"https://www.wikidata.org/wiki/Q1002530","display_name":"Event study","level":3,"score":0.2533000111579895}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.5281/zenodo.23735079","doi":"https://doi.org/10.5281/zenodo.23735079","is_oa":true,"landing_page_url":"https://doi.org/10.5281/zenodo.23735079","pdf_url":null,"source":{"id":"https://openalex.org/S4306400562","display_name":"Zenodo (CERN European Organization for Nuclear Research)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I67311998","host_organization_name":"European Organization for Nuclear Research","host_organization_lineage":["https://openalex.org/I67311998"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"},{"id":"doi:10.5281/zenodo.23735080","doi":"https://doi.org/10.5281/zenodo.23735080","is_oa":true,"landing_page_url":"https://doi.org/10.5281/zenodo.23735080","pdf_url":null,"source":{"id":"https://openalex.org/S4306400562","display_name":"Zenodo (CERN European Organization for Nuclear Research)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I67311998","host_organization_name":"European Organization for Nuclear Research","host_organization_lineage":["https://openalex.org/I67311998"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"}],"best_oa_location":{"id":"doi:10.5281/zenodo.23735079","doi":"https://doi.org/10.5281/zenodo.23735079","is_oa":true,"landing_page_url":"https://doi.org/10.5281/zenodo.23735079","pdf_url":null,"source":{"id":"https://openalex.org/S4306400562","display_name":"Zenodo (CERN European Organization for Nuclear Research)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I67311998","host_organization_name":"European Organization for Nuclear Research","host_organization_lineage":["https://openalex.org/I67311998"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"JournalArticle"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W7126219811","https://openalex.org/W2411634418","https://openalex.org/W2942068069","https://openalex.org/W7218634752","https://openalex.org/W4389368696","https://openalex.org/W2992004112","https://openalex.org/W2884217591","https://openalex.org/W4413203456","https://openalex.org/W1882828062","https://openalex.org/W3112615869"],"abstract_inverted_index":{"Mergers":[0],"and":[1,27,61,77,98,102,117,160,182,191,231,236],"acquisitions":[2],"(M&A)":[3],"are":[4],"often":[5],"defended":[6],"as":[7,207],"instruments":[8],"for":[9,134],"improving":[10],"an":[11,33],"acquiring":[12,67],"company\u2019s":[13],"operating":[14,63,173],"efficiency":[15,64,203],"through":[16,69],"economies":[17],"of":[18,30,65,74,137,146,152,158,163],"scale,":[19],"complementary":[20],"assets,":[21],"stronger":[22],"market":[23,39],"access,":[24],"technology":[25],"transfer,":[26],"the":[28,46,50,57,62,83,87,94,135,161,177,192],"redeployment":[29],"capital.":[31],"Yet":[32],"increase":[34],"in":[35,124],"size,":[36],"revenue,":[37],"or":[38,128],"share":[40],"does":[41],"not":[42],"necessarily":[43],"demonstrate":[44],"that":[45,172,202],"acquisition":[47,145,151,157],"has":[48],"made":[49],"acquirer":[51],"more":[52],"productive.":[53],"This":[54],"paper":[55,141,200],"examines":[56],"relationship":[58],"between":[59,179],"M&A":[60],"Indian":[66,108],"companies":[68],"doctrinal":[70],"analysis,":[71],"a":[72,208,214],"review":[73,92],"empirical":[75],"literature,":[76],"comparative":[78],"case":[79],"studies.":[80],"It":[81,220],"considers":[82],"statutory":[84],"process":[85],"under":[86,93],"Companies":[88],"Act,":[89,96],"2013,":[90],"competition":[91],"Competition":[95],"2002,":[97],"related":[99],"securities,":[100],"tax,":[101],"sectoral":[103],"constraints.":[104],"The":[105,140,199],"literature":[106],"on":[107,176],"firms":[109],"is":[110],"mixed:":[111],"some":[112],"studies":[113],"find":[114],"improved":[115],"profitability":[116],"cash-flow":[118],"margins,":[119],"while":[120],"others":[121],"show":[122,171],"deterioration":[123],"raw":[125],"post-merger":[126],"metrics":[127],"no":[129],"significant":[130],"improvement":[131],"after":[132],"adjusting":[133],"performance":[136],"comparable":[138],"firms.":[139],"analyses":[142],"Tata":[143],"Motors\u2019":[144],"Jaguar":[147],"Land":[148],"Rover,":[149],"Hindalco\u2019s":[150],"Novelis,":[153],"Sun":[154],"Pharmaceutical":[155],"Industries\u2019":[156],"Ranbaxy,":[159],"merger":[162],"HDFC":[164,167],"Limited":[165],"into":[166],"Bank.":[168],"These":[169],"examples":[170],"results":[174],"depend":[175],"fit":[178],"strategic":[180],"rationale":[181],"integration":[183],"design,":[184],"financing":[185],"structure,":[186],"regulatory":[187],"compliance,":[188],"organisational":[189],"capability,":[190],"time":[193],"horizon":[194],"used":[195],"to":[196],"assess":[197],"performance.":[198],"argues":[201],"must":[204],"be":[205],"treated":[206],"testable":[209],"post-closing":[210],"outcome":[211],"rather":[212],"than":[213],"presumption":[215],"arising":[216],"from":[217],"deal":[218],"completion.":[219],"recommends":[221],"measurable":[222],"synergy":[223],"baselines,":[224],"independent":[225],"monitoring,":[226],"transparent":[227],"disclosure,":[228],"competition-sensitive":[229],"planning,":[230],"multi-year":[232],"evaluation":[233],"against":[234],"industry":[235],"control-firm":[237],"benchmarks.":[238]},"counts_by_year":[],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2026-10-29T00:00:00"}