Location, Proximity, and M&A Transactions

In this paper, we examine how the geographic location of firms affects acquisition decisions and value creation for acquirers in takeover transactions. We find that firms located in an urban area are more likely to receive a takeover bid and complete a takeover transaction as a target than firms located in rural areas, and takeover deals involving an urban target are associated with higher acquirer announcement returns, after controlling for the proximity between the target and the acquirer. In addition, a target\u27s urban location significantly attenuates the negative effect of a long distance between the target and the acquirer on acquirer returns, a fact that is documented in the existing literature. Our findings reveal a previously underexplored force—firm location—that can affect takeover transactions, in addition to proximity. Our paper suggests that a firm\u27s location plays an important role in facilitating the dissemination of soft information and enhancing information-based synergies

Signed q-Analogs of Tornheim's Double Series

We introduce signed q-analogs of Tornheim's double series, and evaluate them in terms of double q-Euler sums. As a consequence, we provide explicit evaluations of signed and unsigned Tornheim double series, and correct some mistakes in the literature.Comment: 12 pages, AMSLaTeX. The multinomial notation introduced on page 3 just before Theorem 1 is insufficiently general in version 1, since it may happen that the upper number is negative. This is corrected in version 2, which allows for a negative or even complex upper argumen

Adaptive confidence intervals for regression functions under shape constraints

Adaptive confidence intervals for regression functions are constructed under shape constraints of monotonicity and convexity. A natural benchmark is established for the minimum expected length of confidence intervals at a given function in terms of an analytic quantity, the local modulus of continuity. This bound depends not only on the function but also the assumed function class. These benchmarks show that the constructed confidence intervals have near minimum expected length for each individual function, while maintaining a given coverage probability for functions within the class. Such adaptivity is much stronger than adaptive minimaxity over a collection of large parameter spaces.Comment: Published in at http://dx.doi.org/10.1214/12-AOS1068 the Annals of Statistics (http://www.imstat.org/aos/) by the Institute of Mathematical Statistics (http://www.imstat.org

BcB_c to P-Wave Charmonia Transitions in Covariant Light-Front Approach

In the covariant light-front quark model, we investigate the $B_c\to h_c, \chi_{c0,1,2}$ form factors. The form factors are evaluated in space-like kinematic region and are recasted to the physical region by adopting the exponential parametrization. We also study the semileptonic $B_c$ decays and find that branching fractions for the $B_c\to (h_c,\chi_{c0,1,2})l\bar\nu (l=e,\mu)$ decays have the order $10^{-3}$ while branching fractions for $B_c\to (h_c,\chi_{c0,1,2})\tau\bar\nu_\tau$ are suppressed by one order. These predictions will be tested at the forthcoming hadron colliders.Comment: 13 pages, 1 figure, published in Phys. Rev.