Resource-based theory and mergers & acquisitions success

Mergers & acquisitions (M&A) are most popular external growth strategies. While the number of M&A has been increasing during the past decades, on average, only the shareholders of target firms gain value during the acquisitions process, while acquirers do not receive abnormal positive returns. This paper analyses the impact of strategically valuable resources on the success of M&A decisions. We test complementary resource-based hypotheses regarding the value of M&A for the shareholders of both transaction partners. Our sample consists of transactions in the pharmaceutical and biotechnological industry. The results of our study show that the shareholders of both transaction partners will gain above average positive returns only when the acquirer and the target own and combine strategically valuable resources and capabilities. --

Strategic or Status quo-Preserving Business Exit: (How) Do CEO Turnover and Succession Matter?

Business exit has implications for a firm’s corporate strategy. Two types of exit events are distinguished: those that involve strategic change and those that are status quo-preserving. This study investigates the impact of CEO turnover and succession on strategic versus status quo-preserving business exits. Based on a sample of CEO turnover and succession events and subsequent business exits of German corporations from different industries, our results suggest that neither voluntary nor involuntary CEO turnover is relevant to business exit. In contrast, outsider succession significantly affects the likelihood of strategic business exit, while a corporation’s performance does not moderate this relationship

Ranking structures and Rank-Rank Correlations of Countries. The FIFA and UEFA cases

Ranking of agents competing with each other in complex systems may lead to paradoxes according to the pre-chosen different measures. A discussion is presented on such rank-rank, similar or not, correlations based on the case of European countries ranked by UEFA and FIFA from different soccer competitions. The first question to be answered is whether an empirical and simple law is obtained for such (self-) organizations of complex sociological systems with such different measuring schemes. It is found that the power law form is not the best description contrary to many modern expectations. The stretched exponential is much more adequate. Moreover, it is found that the measuring rules lead to some inner structures, in both cases.Comment: 23 pages, 8 figures, 24 references, 3 tables; to be published in Int. J. Mod. Phys.

Konsep Rancangan Alat Pengaduk Rendang Portable

Rendang adalah salah satu makanan terlezat didunia menurut versi CNN International. Proses pengolahan rendang memakan waktu 3 hingga 5 jam tergantung dari jenis rendang yang dibuat. Proses memasak dan mengolah ini memerlukan waktu, tenaga yang cukup besar. Penelitian ini membuat desain mesin pembuat rendang portable untuk proses pengadukan sehingga akan mempermudah USAha dalam proses memasak rendang. Konsep ini dirancang menggunakan model 3D dengan 3 kaki yang bisa dilipat serta menggunakan motor listrik yang bisa dikontrol

A20 deficiency sensitizes pancreatic beta cells to cytokine-induced apoptosis in vitro but does not influence type 1 diabetes development in vivo

SCOPUS: ar.jinfo:eu-repo/semantics/publishe

comparing the VRIO-framework to the recognition heuristic

Decision-making heuristics are widely used in different economic and non- economic contexts to yield a good solution with an acceptable problem-solving effort. This paper presents the main features of an experimental research project to analyze the effectiveness and efficiency of selected heuristic techniques, which can be used to facilitate and improve the strategic decision-making process. The resource-based view and modern, psychologically inspired decision-making theory provides the theoretical basis for the study

Performance forecasts in uncertain environments: Examining the predictive power of the VRIO-framework

Strategy tools are widely used in the practice of strategic management to yield a good solution with an acceptable problem-solving effort. This paper presents results of an experimental research project that assesses the practical effectiveness of a theory-based decision-making tool, the VRIO-Framework, in predicting the stock-market performance of different companies. The VRIO's predictive power is compared to the predictions derived from Analyst Ratings that are a widespread and commonly used tool in the decision-making context of this study. Our results suggest that the VRIO-Framework is a particularly effective forecasting tool whereas the power of Analyst Ratings is disputable. The results also provide support for the practical usefulness of resource-based theory

Perancangan Sistem Informasi Pengarsipan di Polsek Rancaekek

Berdasarkan hasil penelitian penulis, ditemukan beberapa permasalahan yang sering terjadi dalam pengarsipan saat ini yaitu kesulitan dalam pencarian surat, terjadinya kehilangan atau kerusakan data, serta sulitnya membuat laporan jika sewaktu-waktu diperlukan. Dilihat dari permasalahan diatas maka dibutuhkan program aplikasi untuk mengatasi masalah tersebut. Metode yang digunakan untuk menganalisa dan merancang sistem informasi pengarsipan ini adalah metode System Development Life Cycle (SDLC). Adapun implementasi dan perancangan yang penulis gunakan yaitu dengan menggunakan Flow Map, Data Flow Diagram, Structure Chart, Diagram E-R, Flow Chart, dan menggunakan bahasa pemograman Visual Studio 2010 serta Microsoft Access 2010 sebagai databasenya. Perancangan sistem informasi pengarsipan ini diharapkan dapat memudahkan Kepala Seksi Umum (Kasium) dalam melaksanakan pekerjaan pengarsipan seperti pencarian data arsip, mengantisipasi terjadinya kerusakan dan kehilangan data, serta memudahkan dalam membuat laporan jika sewaktu-waktu diperlukan