Meta-analyses of Post-acquisition Performance: Indications of Unidentified Moderators

Empirical research has not consistently identified antecedents for predicting post-acquisition performance. We employ meta-analytic techniques to empirically assess the impact of the most commonly researched antecedent variables on post-acquisition performance. We find robust results indicating that, on average and across the most commonly studied variables, acquiring firms’ performance does not positively change as a function of their acquisition activity, and is negatively affected to a modest extent. More importantly, our results indicate that unidentified variables may explain significant variance in post-acquisition performance, suggesting the need for additional theory development and changes to M&A research methods

Application of multispectral radar and LANDSAT imagery to geologic mapping in death valley

Side-Looking Airborne Radar (SLAR) images, acquired by JPL and Strategic Air Command Systems, and visible and near-infrared LANDSAT imagery were applied to studies of the Quaternary alluvial and evaporite deposits in Death Valley, California. Unprocessed radar imagery revealed considerable variation in microwave backscatter, generally correlated with surface roughness. For Death Valley, LANDSAT imagery is of limited value in discriminating the Quaternary units except for alluvial units distinguishable by presence or absence of desert varnish or evaporite units whose extremely rough surfaces are strongly shadowed. In contrast, radar returns are most strongly dependent on surface roughness, a property more strongly correlated with surficial geology than is surface chemistry

Countryside biogeography of neotropical herbaceous and shrubby plants

As human impacts on the environment intensify, the future of plant and animal biodiversity will depend increasingly on the floras surviving in human-dominated "countryside" habitats. To begin to characterize these floras for the Neotropics, we investigated the richness and composition of herbaceous and shrubby plant communities in six forested and deforested habitats, in three replicated study areas (7.5-km in diameter), of southern Costa Rica. We chose habitat types that are common throughout the tropics, to begin building a general understanding of both the habitats of origin and the diversity of countryside floras. Focal forest habitats were understory, 1- to 2-year-old tree-fall gaps, and riverbanks, all in primary forest. Focal deforested habitats were ungrazed road verges, grazed pasture, and riverbanks in grazed pasture. Non-riverbank habitats were sampled both near and far from. forest edge. In total, we sampled 772 species from 79 families, similar to 40% of the non-tree plant diversity of the region. Only 6% of identified species are known to be exotic. In each study area, understory and pasture plots were consistently species poor, while tree-fall gaps and road verges near forest were consistently the most species-rich habitats. In each study area, we found the same proportion of species restricted to forested habitats (similar to 45%) and deforested habitats (similar to 37%), and the same proportion of "countryside-habitat generalists" ( similar to 18%) occurring in both forested and deforested habitats. However, different forested habitats supported different proportions of country side-habitat generalists in each study area, although understory plots consistently 'supported the fewest generalists. Among forested habitats, riverbanks were the most similar floristically to deforested habitats. Pasture riverbanks and road verges near forest supported plant communities most similar to those in forested habitats. The uniqueness and richness of each habitat suggests that countrysides with diverse land uses can support many native herbaceous and shrubby plant species. As it becomes increasingly difficult to protect large tracts of undisturbed tropical forest, we suggest that conservation goals expand to encompass maintenance of heterogeneity in countryside landscapes

A Policy Maker’s Guide to Designing Payments for Ecosystem Services

Over the past five years, there has been increasing interest around the globe in payment schemes for the provision of ecosystem services, such as water purification, carbon sequestration, flood control, etc. Written for an Asian Development Bank project in China, this report provides a user-friendly guide to designing payments for the provision of ecosystem services. Part I explains the different types of ecosystem services, different ways of assessing their value, and why they are traditionally under-protected by law and policy. This is followed by an analysis of when payments for services are a preferable approach to other policy instruments. Part II explains the design issues underlying payments for services. These include identification of the service as well as potential buyers and sellers, the level of service needed, payment timing, payment type, and risk allocation. Part II contains a detailed analysis of the different types of payment mechanisms, ranging from general subsidy and certification to mitigation and offset payments. Part III explores the challenges to designing a payment scheme. These include the ability to monitor service provision, secure property rights, perverse incentives, supporting institutions, and poverty alleviation

Few-body resonances of unequal-mass systems with infinite interspecies two-body s-wave scattering length

Two-component Fermi and Bose gases with infinitely large interspecies s-wave scattering length $a_s$ exhibit a variety of intriguing properties. Among these are the scale invariance of two-component Fermi gases with equal masses, and the favorable scaling of Efimov features for two-component Bose gases and Bose-Fermi mixtures with unequal masses. This paper builds on our earlier work [D. Blume and K. M. Daily, arXiv:1006.5002] and presents a detailed discussion of our studies of small unequal-mass two-component systems with infinite $a_s$ in the regime where three-body Efimov physics is absent. We report on non-universal few-body resonances. Just like with two-body systems on resonance, few-body systems have a zero-energy bound state in free space and a diverging generalized scattering length. Our calculations are performed within a non-perturbative microscopic framework and investigate the energetics and structural properties of small unequal-mass two-component systems as functions of the mass ratio $\kappa$, and the numbers $N_{1}$ and $N_2$ of heavy and light atoms. For purely attractive Gaussian two-body interactions, we find that the $(N_1,N_2)=(2,1)$ and $(3,1)$ systems exhibit three-body and four-body resonances at mass ratios $\kappa = 12.314(2)$ and 10.4(2), respectively. The three- and four-particle systems on resonance are found to be large. This suggests that the corresponding wave function has relatively small overlap with deeply-bound dimers, trimers or larger clusters and that the three- and four-body systems on resonance have a comparatively long lifetime. Thus, it seems feasible that the features discussed in this paper can be probed experimentally with present-day technology.Comment: 17 pages, 17 figure

Invisibility in billiards

The question of invisibility for bodies with mirror surface is studied in the framework of geometrical optics. We construct bodies that are invisible/have zero resistance in two mutually orthogonal directions, and prove that there do not exist bodies which are invisible/have zero resistance in all possible directions of incidence

Entry in the ADHD drugs market: Welfare impact of generics and me-toos

Recent decades have seen a growth in treatments for attention deficit hyperactivity disorder (ADHD) including many branded and generic drugs. In the early 2000's, new drug entry dramatically altered market shares. We estimate a demand system for ADHD drugs and assess the welfare impact of new drugs. We find that entry induced large welfare gains by reducing prices of substitute drugs, and by providing alternative delivery mechanisms for existing molecules. Our results suggest that the success of follow-on patented drugs may come from unanticipated innovations like delivery mechanisms, a factor ignored by proposals to retard new follow-on drug approvals

Explaining the rise of 'human rights' in analyses of Sino-African relations

Popular perceptions of China and its global role are often shaped by two words: 'made in'. Yet this vision of China that focuses primarily on Beijing as a coming economic superpower is relatively new, and it is not that long ago that two other words tended to dominate debates on and discourses of China: 'human rights'. To be sure, real interest in human rights in China was never the only issue in other states' relations with China, nor consistently pursued throughout the years (Nathan, 1994). Nor did human rights totally subsequently disappear from the political agenda.1 Nevertheless, the rhetorical importance of human rights - perhaps best epitomised by the narrow defeat of resolutions condemning Chinese policy in 1995 at the Human Rights Council in Geneva - stands in stark contrast to the relative silence thereafter as the bottom line of most states' relations with Beijing took on ever greater economic dimensions

The Paradox of Power in CSR: A Case Study on Implementation

Purpose Although current literature assumes positive outcomes for stakeholders resulting from an increase in power associated with CSR, this research suggests that this increase can lead to conflict within organizations, resulting in almost complete inactivity on CSR. Methods A single in-depth case study, focusing on power as an embedded concept. Results Empirical evidence is used to demonstrate how some actors use CSR to improve their own positions within an organization. Resource dependence theory is used to highlight why this may be a more significant concern for CSR. Conclusions Increasing power for CSR has the potential to offer actors associated with it increased personal power, and thus can attract opportunistic actors with little interest in realizing the benefits of CSR for the company and its stakeholders. Thus power can be an impediment to furthering CSR strategy and activities at the individual and organizational level

Measuring the capability to raise revenue process and output dimensions and their application to the Zambia revenue authority

The worldwide diffusion of the good governance agenda and new public management has triggered a renewed focus on state capability and, more specifically, on the capability to raise revenue in developing countries. However, the analytical tools for a comprehensive understanding of the capability to raise revenue remain underdeveloped. This article aims at filling this gap and presents a model consisting of the three process dimensions ‘information collection and processing’, ‘merit orientation’ and ‘administrative accountability’. ‘Revenue performance’ constitutes the fourth capability dimension which assesses tax administration’s output. This model is applied to the case of the Zambia Revenue Authority. The dimensions prove to be valuable not only for assessing the how much but also the how of collecting taxes. They can be a useful tool for future comparative analyses of tax administrations’ capabilities in developing countries.Die weltweite Verbreitung der Good-Governance- und New-Public-Management-Konzepte hat zu einer zunehmenden Konzentration auf staatliche Leistungsfähigkeit und, im Besonderen, auf die Leistungsfähigkeit der Steuererhebung in Entwicklungsländern geführt. Allerdings bleiben die analytischen Werkzeuge für ein umfassendes Verständnis von Leistungsfähigkeit unterentwickelt. Dieser Artikel stellt hierfür ein Modell vor, das die drei Prozess-Dimensionen „Sammeln und Verarbeiten von Informationen“, „Leistungsorientierung der Mitarbeiter“ und „Verantwortlichkeit der Verwaltung“ beinhaltet. „Einnahmeperformanz“ ist die vierte Dimension und erfasst den Output der Steuerverwaltung. Das mehrdimensionale Modell wird für die Analyse der Leistungsfähigkeit der Steuerbehörde Zambias (Zambia Revenue Authority) genutzt. Es erweist sich nicht nur für die Untersuchung des Wieviel, sondern auch des Wie des Erhebens von Steuern als wertvoll. Die vier Dimensionen können in Zukunft zur umfassenden und vergleichenden Analyse der Leistungsfähigkeit verschiedener Steuerverwaltungen in Entwicklungsländern genutzt werden