Stock Market Reaction to Mergers and Acquisitions Announcements in Emerging Markets. Evidence from Mergers and Acquisitions Firms Listed in Eastern Africa Securities Markets

Stock market reaction to mergers and acquisitions announcements is a topical issue in corporate finance. Consequently, the topic has received attention in equal measure; however, the bulk of these studies are skewed towards the developed financial markets. The foregoing evidence raises a fundamental question; is the empirical evidence exhibited in developed financial markets applicable in the emerging markets? Using data from listed firms in Eastern Africa securities market involved in mergers and acquisitions for the period 1996- 2015, we computed cumulative abnormal returns for different holding period. Parametric t test was used to test the significance of the abnormal returns. Our findings revealed that acquirer firm shareholders earned a significant positive cumulative abnormal return during the entire event window that is [-20, +20].  On the other hand, cumulative average abnormal return findings revealed that acquiring firms earned positive return immediately after the acquisition announcement. However, the positive performance was short lived, four days after M&A announcement returns declined sharply. Keywords: Mergers and acquisition, cumulative abnormal return and Cumulative average abnormal return

Effect of human resource capabilities on customer relationship management in private hospitals in Kenya

The purpose of this study was to establish the effect of human resource capabilities on customer relationship management in private hospitals in Kenya. The study adopted a descriptive survey design. It targeted 161 private hospitals which are accredited by NHIF in Kenya and which formed the unit of analysis of the study. Simple random sampling was then be used to obtain the 644 respondents. The researcher utilized a structured questionnaire with a five-point Likert scale to gather the data. The collected data were coded and entered in SPSS for further analysis. Descriptive and inferential analysis was conducted. The findings found there is indeed a positive statistically significant relationship between human resource capability and customer relationship management. However, human resource capabilities had the least effect with 31.5% implying that most private hospitals either do not have enough staff, the reward system is not adequate, there is no staff involvement, or either there is no career progression and therefore staff was not satisfied. This can also imply that the managements were keener on other drivers that are directly involved in customers like information technology infrastructure. The study recommends that hospitals should stand out from the competitors by hiring highly skilled staff as well as embracing an integrated patient-centric efficient care delivery for the successful delivery of effective CRM. Managers should recognize that human resource capability is valuable, rare, irreplaceable, and difficult to imitate; therefore, it is crucial for creating sustainable competitive advantages, and if utilized appropriately, it can improve the CRM of an organization

Effect of financial capability on customer relationship management in private hospitals in Kenya

The purpose of this study was to establish the effect of financial capability on customer relationship management in private hospitals in Kenya. The study adopted descriptive survey design. It targeted 161 private hospitals which are accredited by NHIF in Kenya and which formed the unit of analysis of the study. Simple random sampling was then be used to obtain the 644 respondents. The researcher utilized a structured questionnaire with a five-point Likert scale to gather the data. The collected data was coded and entered in SPSS for further analysis. Descriptive and inferential analysis was conducted. The findings indicate there was a statistical and significant relationship between financial capabilities and customer relationship management. Financial capabilities explained 48.5% of the variability in customer relationship management in private hospitals. Hospitals should plan ahead forecast on financial emerging issues to avoid financial distress. Good governance is critical in an organization because it enables flexible adjustments to the emerging spending patterns as strategic demands arise

Socio-economic and demographic factors influencing open defecation in Haiti: a cross-sectional study

Abstract Background Open defecation (OD) remains an important public health challenge in Haiti. The practice poses a significantly high risk of disease transmission. Considering these negative health consequences, this paper aims to identify socio-economic and demographic factors that influence OD practice among households in Haiti. Methods The study used secondary data from 13,405 households from the Haiti Demographic and Health Survey 2016-2017. Descriptive statistics and bivariate analysis were used to find the preliminary results. Further, multivariate analysis was performed to confirm the findings. Results Around one quarter (25.3%) of Haitian households still defecate in the open, almost 10% in urban areas, and nearly 36% in rural areas. Multivariate analysis revealed that the age and sex of the household head, household size, number of children aged 1-14 years old in the household, education level, wealth index, access to mass media, place of residence, and region were significant predictors of OD practice among households in Haiti. Conclusion To accelerate the elimination of OD by 2030 and therefore achieve sustainable open defecation-free status, the government of Haiti and its partners should consider wealth disparities among regions and mobilize mass media and community-based networks to raise awareness and promote education about sane sanitation practices. Furthermore, because the possibilities to build toilets differ between rural and urban areas, specific interventions must be spearheaded for each of these regions. The public program can subsidize individual toilets in rural areas with room to collect dry excreta for the preparation of fertilizers, while in urban areas collective toilets can be built in slums. Interventions should also prioritize households headed by women and young people, two underpriviledged socioeconomic groups in Haiti

Additional file 1 of Trends and factors associated with recent HIV testing among women in Haiti: a cross-sectional study using data from nationally representative surveys

Additional file 1: Table A1. Results of the basic and advanced decompositions. Table A2. Measure of variation for HIV testing in Haiti, HDHS 2012. Table A3. Measure of variation for HIV testing in Haiti, HDHS 2016/17

A multicenter evaluation of pediatric emergency department injury visits during the COVID-19 pandemic.

BACKGROUND: Injuries, the leading cause of death in children 1-17 years old, are often preventable. Injury patterns are impacted by changes in the childs environment, shifts in supervision, and caregiver stressors. The objective of this study was to evaluate the incidence and proportion of injuries, mechanisms, and severity seen in Pediatric Emergency Departments (PEDs) during the COVID-19 pandemic. METHODS: This multicenter, cross-sectional study from January 2019 through December 2020 examined visits to 40 PEDs for children < 18 years old. Injury was defined by at least one International Classification of Disease-10th revision (ICD-10) code for bodily injury (S00-T78). The main study outcomes were total and proportion of PED injury-related visits compared to all visits in March through December 2020 and to the same months in 2019. Weekly injury visits as a percentage of total PED visits were calculated for all weeks between January 2019 and December 2020. RESULTS: The study included 741,418 PED visits for injuries pre-COVID-19 pandemic (2019) and during the COVID-19 pandemic (2020). Overall PED visits from all causes decreased 27.4% in March to December 2020 compared to the same time frame in 2019; however, the proportion of injury-related PED visits in 2020 increased by 37.7%. In 2020, injured children were younger (median age 6.31 years vs 7.31 in 2019), more commonly White (54% vs 50%, p < 0.001), non-Hispanic (72% vs 69%, p < 0.001) and had private insurance (35% vs 32%, p < 0.001). Injury hospitalizations increased 2.2% (p < 0.001) and deaths increased 0.03% (p < 0.001) in 2020 compared to 2019. Mean injury severity score increased (2.2 to 2.4, p < 0.001) between 2019 and 2020. Injuries declined for struck by/against (- 4.9%) and overexertion (- 1.2%) mechanisms. Injuries proportionally increased for pedal cycles (2.8%), cut/pierce (1.5%), motor vehicle occupant (0.9%), other transportation (0.6%), fire/burn (0.5%) and firearms (0.3%) compared to all injuries in 2020 versus 2019. CONCLUSIONS: The proportion of PED injury-related visits in March through December 2020 increased compared to the same months in 2019. Racial and payor differences were noted. Mechanisms of injury seen in the PED during 2020 changed compared to 2019, and this can inform injury prevention initiatives