The acquisition and use of information to make investment decisions: a study of financial analysts in China

This study draws upon semi-structured interviews with 23 Chinese financial analysts (Beijing, Shanghai) to examine how they improve their information comprehension through private information search and use such information to evaluate company value. Despite working in state-owned institutions, Chinese financial analysts claim that their analytical framework is similar to their counterparty in the Western setting. However, our results indicate that Chinese analyst's analytical practice is considerably influenced by the specific characteristics of the Chinese listed company both in information acquisition and usage. Private meetings are regarded as a 'value added' information source providing price-sensitive information including product cost structure and possible assets injection from the listed company principle shareholders

Effects of variable chemical reaction and variable electric conductivity on free convective heat and mass transfer flow along an inclined stretching sheet with variable heat and mass fluxes under the influence of Dufour and Soret effects

This paper deals with the effects of variable chemical reaction and variable electric conductivity on free convection and mass transfer flow of a viscous, incompressible and electrically conducting fluid over an inclined stretching sheet with variable heat and mass fluxes under the influence of Dufour and Soret effects. The non-linear boundary layer equations with boundary conditions are transferred into a system of non-linear ordinary differential equations using an established similarity transformation. These non-linear and locally-similar ordinary differential equations are solved numerically by applying Nachtsheim–Swigert shooting iteration technique with sixth-order Runge–Kutta integration scheme. Comparison with previously published work is obtained and excellent agreement is found. The effects of various parameters on the dimensionless velocity, temperature and concentration profiles as well as the local skin-friction coefficient, heat and mass transfer rate from the stretching sheet to the surrounding fluid are presented graphically and in tabulated form for a hydrogen-air mixture. The numerical results showed that chemical reaction parameter K, order of reaction n, Dufour number Df , Soret number Sr and heat (or mass) flux parameter r play a crucial role in the solutions

Integration of nonmarket and market activities in cross-border mergers and acquisitions

Drawing on the resource dependence theory and the resource-based view, this paper investigates the interactions between market and nonmarket activities of firms in the context of the post-merger integration phase in cross-border mergers and acquisitions (M&As). Based on a cross-country survey of 111 M&A practitioners who were personally involved in cross-border M&As around the world, we test seven hypotheses on various market and nonmarket aspects of post-merger integration. We find a positive correlation between buffering strategies and adaptive capabilities in the nonmarket environment, and between bridging and adaptive capabilities in the market environment. However, we could not find any significant correlation between buffering and adaptive capabilities in the market environment, and bridging and adaptive capabilities in the nonmarket environment. We also find that adaptability in the nonmarket environment is positively correlated with adaptability in the market environment, and in turn adaptability in the market environment leads to positive organizational performance of a cross border M&A. These results provide further support for the value of the alignment between market and nonmarket activities and help to fill a gap in the literature on the market-nonmarket interactions in post-merger integration

Investigating The Relationship Between Gross Domestic Product (GDP) and Household Consumption Expenditure (HCE) In Two SAARC Countries: Nepal and Pakistan

Abstract This study examines the matter of trends (level and slope), cycle and irregular components in the Gross Domestic Product (GDP) and Household Consumption Expenditure (HCE) of two SAARC (South Asian Association for Regional Cooperation) countries: Nepal and Pakistan. SAARC countries produce GDP (PPP) US$9.9 trillion and GDP (Nominal) US$ 2.9 trillion and constitute 9.12% of global economy as of 2015. The mentioned two countries from this region are selected due to their importance in the SAARC region and their challenges during last few decades i.e. Political crisis and natural disasters. In this study the multivariate unobserved components model is used to decompose the GDP and HCE and examine the relationships between these two variables of Nepal and Pakistan. The time period of this study is 1970-2014 and Kushnirs statistical data is employed. The maximum likelihood smoother is employed in the trend plus stochastic cycle methodology of Koopman et al. (2009) to estimate the model. It is found here that there have no deficiencies in the diagnostics of normality, auxiliary, prediction, and forecast. And residual diagnostics also present that it is nicely fitted with this model. Empirical results clearly show that there have strong correlations between the GDP and HCE in irregular components in both the countries of Nepal and Pakistan. Finally, in both slope and cycle, the correlations between GDP and HCE of Nepal and Pakistan are found perfectly positive in the short and long run

Динамические тенденции в становлении предмета лингвоэкологии

Экологизация всех сфер общественной жизни и самого человека широко обсуждается во многих наука, а также и в области языка. Во многих работах лингвистов экология языка определяется как наука о взаимоотношениях между языком и его окружением, так как язык существует не только в сознании говорящих на нем и функционирует только при взаимоотношениях с другими коммуникантами и с их социальным и природным окружением. В этом контексте понятие «языковое сознание» представляет собой специфическую картину взаимосвязи культуры и общественной жизни социума, которая определяет его психологическое своеобразие и специфические черты данного языка

The moderating role of transformational leadership on HR practices in M&A integration

Scant research exists examining the effect of HRM practices on employee behavior in M&A integration and the role that leaders play within this. This paper develops a conceptual framework that focuses on the moderating role of transformational leadership on the achievement of human integration and organizational identification in M&A integration. We argue that communication, employee involvement, teamwork, and training and development have a positive effect on employee behavior and their identification with the newly formed organization. Moreover, we argue that transformational leadership behaviors will moderate the implementation of HRM practices in M&As, leading to positive employee behavior and employee identification in the new organization. We suggest that further research is necessary to test propositions of the present study in order to achieve finer-grained understanding of the role of transformational leadership on the achievement of human integration and organizational identification in M&A integration

Increased waterborne blaNDM-1 resistance gene abundances associated with seasonal human pilgrimages to the Upper Ganges River

Antibiotic resistance (AR) is often rooted in inappropriate antibiotic use, but poor water quality and inadequate sanitation exacerbate the problem, especially in emerging countries. An example is increasing multi-AR due to mobile carbapenemases, such as NDM-1 protein (coded by blaNDM-1 genes), which can produce extreme drug-resistant phenotypes. In 2010, NDM-1 positive isolates and blaNDM-1 genes were detected in surface waters across Delhi and have since been detected across the urban world. However, little is known about blaNDM-1 levels in more pristine locations, such as the headwaters of the Upper Ganges River. This area is of particular interest because it receives massive numbers of visitors during seasonal pilgrimages in May/June, including visitors from urban India. Here we quantified blaNDM-1 abundances, other AR genes (ARG) and coliform bacteria in sediments and water column samples from seven sites in the Rishikesh-Haridwar region of the Upper Ganges and five sites on the Yamuna River in Delhi to contrast blaNDM-1 levels and water quality conditions between season and region. Water quality in the Yamuna was very poor (e.g., anoxia at all sites), and blaNDM-1 abundances were high across sites in water (5.4 ± 0.4 log(blaNDM-1·mL-1); 95% confidence interval) and sediment (6.3 ± 0.7 log(blaNDM-1·mg-1)) samples from both seasons. In contrast, water column blaNDM-1 abundances were very low across all sites (2.1 ± 0.6 log(blaNDM-1·mL-1)) in February in the Upper Ganges and water quality was good (e.g., near saturation oxygen). However, per capita blaNDM-1 levels were 20 times greater in June in the Ganges water column relative to February and blaNDM-1 levels significantly correlated with fecal coliform levels (r=0.61; p=0.007). Given waste management infrastructure is limited in Rishikesh-Haridwar; data imply blaNDM-1 levels are higher in visitor's wastes than local residents, which results in seasonally higher blaNDM-1 levels in the river. Pilgrimage areas without adequate waste treatment are possible "hot spots" for AR transmission, and waste treatment must be improved to reduce broader AR dissemination via exposed returning visitors

Effects of variable chemical reaction and variable electric conductivity on free convective heat and mass transfer flow along an inclined stretching sheet with variable heat and mass fluxes under the influence of Dufour and Soret effects, Nonlinear Analys

Abstract. This paper deals with the effects of variable chemical reaction and variable electric conductivity on free convection and mass transfer flow of a viscous, incompressible and electrically conducting fluid over an inclined stretching sheet with variable heat and mass fluxes under the influence of Dufour and Soret effects. The non-linear boundary layer equations with boundary conditions are transferred into a system of non-linear ordinary differential equations using an established similarity transformation. These non-linear and locally-similar ordinary differential equations are solved numerically by applying Nachtsheim-Swigert shooting iteration technique with sixth-order Runge-Kutta integration scheme. Comparison with previously published work is obtained and excellent agreement is found. The effects of various parameters on the dimensionless velocity, temperature and concentration profiles as well as the local skin-friction coefficient, heat and mass transfer rate from the stretching sheet to the surrounding fluid are presented graphically and in tabulated form for a hydrogen-air mixture. The numerical results showed that chemical reaction parameter K, order of reaction n, Dufour number Df , Soret number Sr and heat (or mass) flux parameter r play a crucial role in the solutions