Social Networks and the Informational Role of Financial Advisory Firms Centrality in Mergers and Acquisitions

This paper examines the role of the social network hierarchy of financial advisory firms in a mergers and acquisitions (M&As) framework. Financial advisors are information intermediaries who play an information extraction and information dissemination role. The more central the advisory firm is within the network of advisory firms, the greater their access to information flows. Our findings indicate that more central advisors are associated with higher acquirer announcement abnormal returns, higher abnormal combined returns and higher operating long‐run performance for the new entity. Central advisors also mitigate information asymmetries, resulting in lower premium paid by bidders. In return, more central advisory firms demand higher advisory fees, engage in higher M&A activity and are more likely to advise large acquirers and acquisitions of large and public deals. Our results are robust to endogeneity and self‐selection concerns

Compartmental System of Reaction and Diffusion Mechanism of Carcinogenic Polycyclic Aromatic Hydrocarbons in Mammalian Cell

The effect of ubiquitous carcinogen pollutants in mammalian cells is the source of several problems. Carcinogenic compounds present in environment as persistent pollutants become the root of carcinoma, toxicity or cancer when they react with hereditary material. To study the cellular exposure of reaction and diffusion mechanism of these carcinogenic compounds in mammalian V79 cell earlier, mathematical modeling with the set of spatially distributed system (PDEs) was developed. In this paper, compartmental modeling approach have used with the inclusion of perinuclear space. The system reduced the spatially distributed (PDEs) system to the temporal (ODEs) system, thus reducing the complexity and computational cost. The compartmental system has been simulated computationally in Virtual Cell using homogenization technique. The quantitative consideration of the results of spatially distributed system and temporal system shows a nice agreement. We can extend the compartmental system adding more compartments, reaction and diffusion processes