Killer acquisitions

This paper argues incumbent firms may acquire innovative targets solely to discontinue the target’s innovation projects and preempt future competition. We call such acquisitions “killer acquisitions.” We develop a model illustrating this phenomenon. Using pharmaceutical industry data, we show that acquired drug projects are less likely to be developed when they overlap with the acquirer’s existing product portfolio, especially when the acquirer’s market power is large due to weak competition or distant patent expiration. Conservative estimates indicate 5.3 percent to 7.4 percent of acquisitions in our sample are killer acquisitions. These acquisitions disproportionately occur just below thresholds for antitrust scrutiny

Surface and bulk polaritons in a linear magnetoelectric multiferroic with canted spins: Transverse Electric polarisation

Some magnetoelectric multiferroics have a canted spin structure that can be described by a Dzyaloshinkii-Moriya coupling. We calculate properties and features expected for surface and bulk magnon polaritons in such media with a linear magnetoelectric interaction for the case of transverse electric polarisation. The dielectric polarisation and magnetisation of weak ferromagnetism are constrained to lie in the plane parallel to the surface. We examine a geometry with the polarisation oriented in the film plane and present numerical results for the transverse electric polarisation. Particular attention is given to non-reciprocal surface modes, which exist in frequency between two bulk bands, and show how these modes can be modified by external magnetic field. Results for attenuated total reflection are presented, and discussed in relation to nonreciprocity. Example results are calculated for the canted antiferromagnet BaMnF4.Comment: 14 pages, 6 figure

Age adjustment of cancer survival rates: methods, point estimates and standard errors

We empirically evaluated the performance of a new method for age adjustment of cancer survival compared to traditional age adjustment using data from the Finnish Cancer Registry. We find that both methods provide almost identical results for absolute survival but the new method generally provides more meaningful estimates of relative survival with often a smaller standard error

Lebensdauer als Optimierungsziel : Algorithmische Struktursynthese am Beispiel eines hydrostatischen Getriebes

Verfügbarkeit und Nachhaltigkeit sind wichtige Anforderungen bei der Planung langlebiger technischer Systeme. Meist werden bei Lebensdaueroptimierungen lediglich einzelne Komponenten vordefinierter Systeme untersucht. Ob eine optimale Lebensdauer eine gänzlich andere Systemvariante bedingt, wird nur selten hinterfragt. Technical Operations Research (TOR) erlaubt es, aus Obermengen technischer Systeme automatisiert die lebensdaueroptimale Systemstruktur auszuwählen. Der Artikel zeigt dies am Beispiel eines hydrostatischen Getriebes

Designing a Feedback Control System via Mixed-Integer Programming

Pure analytical or experimental methods can only find a control strategy for technical systems with a fixed setup. In former contributions we presented an approach that simultaneously finds the optimal topology and the optimal open-loop control of a system via Mixed Integer Linear Programming (MILP). In order to extend this approach by a closed-loop control we present a Mixed Integer Program for a time discretized tank level control. This model is the basis for an extension by combinatorial decisions and thus for the variation of the network topology. Furthermore, one is able to appraise feasible solutions using the global optimality gap

Breast cancer by migrant background in Belgium:Lower risk, but worse survival in women of non-European origin

Foreign and native populations differ in terms of breast cancer outcomes. Studies rarely distinguish between premenopausal and postmenopausal breast cancer, although the risk profile is different; nor between migrants of the first and second generation (FG and SG), which is crucial to examine genetic and environmental influences on breast cancer. This research fills these gaps by investigating patterns in breast cancer incidence and survival in different migrant groups by menopausal and migrant generational status, taking various risk factors into account. To this end, individually linked data from the 2001 census, the Belgian Cancer Registry and the Crossroads Bank for Social Security are used. Age-standardised incidence rates and incidence rate ratios are calculated by migrant background group, stratified according to ages 30–50 (premenopausal) and 50–70 (postmenopausal). Incidence rate ratios are examined with and without taking reproductive factors and socioeconomic position (SEP) into account. Relative survival percentages and relative excess risks of dying among premenopausal and postmenopausal patients are computed with and without controlling for the stage at diagnosis and SEP. Premenopausal breast cancer is further examined by migrant generational status. Breast cancer incidence is lower among non-European migrants compared to Belgians. Keeping SEP and known risk factors constant reduces much, but not all of the observed discrepancies. A risk convergence between SG migrants and Belgians for the development of premenopausal breast cancer is observed. Premenopausal breast cancer survival is worse among Moroccan patients due to a higher stage at diagnosis. This disadvantage is concentrated in the FG

Anisotropy of the orbital methods and the magnetic dipole term TzT_z in CrO2{\rm CrO_2}: An {\it ab-initio} studt

A systematic study is performed by the {\it ab-initio} density functional theory of the anisotropy of the orbital moments $$and the magnetic dipole term$$ in bulk ${\rm CrO_2}$. Two different band-structure techniques are used (FLAPW and LMTO-ASA), and the electronic correlations are treated by the local-spin-density approximation (LSDA), the LSDA+ orbital polarization method, and the LSDA+$U$ method. The calculated anisotropies of $$and$$ are very large compared to Fe, Ni and Co but still a factor of 5 and 2 smaller than the anisotropies obtained from a recently suggested analysis of the X-ray magnetic circular dichroism spectra for a thick layer of ${\rm CrO_2}$

On the Role of Pre-Determined Rules for HRM Policies

Using simple game-theoretical models, this paper studies the role of pre-determined rules for HRM policies. We consider a model in which HRM decisions affect employees' self-images and thereby their motivation. We show that in the absence of written rules, managers are too reluctant (1) to differentiate between employees on the basis of their abilities, and (2) to terminate employment of employees on probation. Generally, organizations benefit from committing to strict rules for various HRM practices

A reference relative time-scale as an alternative to chronological age for cohorts with long follow-up

Background: Epidemiologists have debated the appropriate time-scale for cohort survival studies; chronological age or time-on-study being two such time-scales. Importantly, assessment of risk factors may depend on the choice of time-scale. Recently, chronological or attained age has gained support but a case can be made for a ‘reference relative time-scale’ as an alternative which circumvents difficulties that arise with this and other scales. The reference relative time of an individual participant is the integral of a reference population hazard function between time of entry and time of exit of the individual. The objective here is to describe the reference relative time-scale, illustrate its use, make comparison with attained age by simulation and explain its relationship to modern and traditional epidemiologic methods. Results: A comparison was made between two models; a stratified Cox model with age as the time-scale versus an un-stratified Cox model using the reference relative time-scale. The illustrative comparison used a UK cohort of cotton workers, with differing ages at entry to the study, with accrual over a time period and with long follow-up. Additionally, exponential and Weibull models were fitted since the reference relative time-scale analysis need not be restricted to the Cox model. A simulation study showed that analysis using the reference relative time-scale and analysis using chronological age had very similar power to detect a significant risk factor and both were equally unbiased. Further, the analysis using the reference relative time-scale supported fully-parametric survival modelling and allowed percentile predictions and mortality curves to be constructed. Conclusions: The reference relative time-scale was a viable alternative to chronological age, led to simplification of the modelling process and possessed the defined features of a good time-scale as defined in reliability theory. The reference relative time-scale has several interpretations and provides a unifying concept that links contemporary approaches in survival and reliability analysis to the traditional epidemiologic methods of Poisson regression and standardised mortality ratios. The community of practitioners has not previously made this connection

BaFe12O19 single-particle-chain nanofibers : preparation, characterization, formation principle, and magnetization reversal mechanism

BaFe12O19 single-particle-chain nanofibers have been successfully prepared by an electrospinning method and calcination process, and their morphology, chemistry, and crystal structure have been characterized at the nanoscale. It is found that individual BaFe12O19 nanofibers consist of single nanoparticles which are found to stack along the nanofiber axis. The chemical analysis shows that the atomic ratio of Ba/Fe is 1:12, suggesting a BaFe12O19 composition. The crystal structure of the BaFe12O19 single-particle-chain nanofibers is proved to be M-type hexagonal. The single crystallites on each BaFe12O19 single-particlechain nanofibers have random orientations. A formation mechanism is proposed based on thermogravimetry/differential thermal analysis (TG-DTA), X-ray diffraction (XRD), and transmission electron microscopy (TEM) at six temperatures, 250, 400, 500, 600, 650, and 800 �C. The magnetic measurement of the BaFe12O19 single-particle-chain nanofibers reveals that the coercivity reaches a maximum of 5943 Oe and the saturated magnetization is 71.5 emu/g at room temperature. Theoretical analysis at the micromagnetism level is adapted to describe the magnetic behavior of the BaFe12O19 single-particle-chain nanofibers