The Effect of Poison Pill Adoptions and Court Rulings on Firm Entrenchment

We challenge a common presumption that poison pills and two Delaware case rulings in 1995 validating such pills materially entrench firms. Based on unsolicited takeover attempts from 1985 to 2009, we find that poison pills enhance takeover premiums, but do not reduce completion rates. Furthermore, the 1995 Delaware rulings affected neither the use of poison pills among the targets, the effectiveness of the pills that were used, the completion rate of the takeover attempts, nor the takeover premiums

Do Stock Options Overcome Managerial Risk Aversion? Evidence from Exercises of Executive Stock Options

We report that the probability that executives exercise options early decreases with the volatility of the underlying stock return. We interpret this to mean that executives’ subjective option value increases with volatility and that option grants increase executives’ risk appetite. Further decomposition reveals that the results are most pronounced for idiosyncratic volatility, consistent with our conjecture that executives believe they can better predict or influence the resolution of idiosyncratic uncertainty than systematic uncertainty and, thus, favor the former

Extending sustainability from food to fashion consumption:the lived experience of working mothers

This report isa collection of the memos written in work package 1 of the LambdaRoad project, where the overall project objectives is to study the need and requirements for electronic communication (ecom) in the future transport system in Norway and develop a planning tool for ecom for the transport sector. lntroductory studies were performed in work package 1 and documented in this report. In particular we 1) have established va lue networks for ecom in Norway, 2) described the crucial terms in C-ITS ecom, including motivation for the planning tool, 3) established a comprehensive state of the art study for path loss models, a crucial part of the planning tool to be developed, 4) studied the literature to summarize the ecom requirements in the future transport system, and 5) conducted in-depth semi -structured interviews to reveal the requirements and needs of the planning tool in LambdaRoad for the project partners. Please note that some of the memos included might change during the rest of the project period, and that updates may occur

Hva kan forklare kinesisk FDI i olje i Sudan og Kasakhstan : en komparativ studie

I denne studien undersøkes hva som kan forklare at Sudan og Kasakhstan er høyt prioriterte mål for kinesisk FDI i olje. Det eklektiske paradigmet og den strategiske tilnærmingen til energipolitikk benyttes for å belyse dette. I det eklektiske paradigmet utledes tre typer fordeler som er bestemmende for hvorvidt et selskap velger å benytte seg av FDI; eierskaps-, internaliserings-, og lokaliseringsfordeler. Med utgangspunkt i den strategiske tilnærmingen utledes komplementære strategiske fordeler som relaterer til nevnte fordelskategorier. I analysen drøftes det i hvilken grad fordeler utledet fra begge teorier er til stede i forbindelse med Kinas investeringer i olje i Sudan og Kasakhstan. Studien viser at aspekter fra begge teorier bidrar til å forklare kinesisk FDI i nevnte mottakerland, men at den strategiske tilnæringen har større forklaringskraft enn det eklektiske paradigmet

The Mediating Role of Cultural Intelligence in the Relationship Between the Openness to Experience Personality Trait and Job Satisfaction Among Expatriates

This study has explored the role of cultural intelligence as a mediator in the relationship between the openness to experience personality trait and job satisfaction among expatriates. Expatriates were required to fill up online questionnaires to measure all the three variables. This study used a regression and bootstrapping analysis to test the hypothesis in a sample of 265 expatriates. The result indicates that the variance in job satisfaction accountable to the openness to experience personality trait is fully mediated through cultural intelligence. This findingprovides evidence that possessing cultural intelligence acts as a mechanism in which an open expatriate could feel satisfied with his or her job. Moreover, this study discusses the practical implications especially for multinational companies and suggests some future research directions

Krisehåndteringsprosesser i Hæren knyttet til internasjonale operasjoner: Mellomlanding – forebyggende krisehåndtering, anerkjennelse og ivaretakelse - Mellomlanding - arena for feedback av informasjoner til gjenbruk i fremtidig produksjon av stridsevne i Hæren

Prosjektoppgave Krisehåndtering, 2012Innledning: Forsvaret har i ”nyere” tid bidratt med soldater til internasjonale operasjoner fra UNIFIL (United Nations Interim Forces in Lebanon) siden våren 1978 via en mengde andre internasjonale operasjoner frem til dagens bidrag i Afghanistan. Totalt er ca 100 000 personer å regne som veteraner i Norge. En veteran er en soldat med erfaring fra operasjoner både nasjonalt og internasjonalt. Inspektøren for Veterantjenesten, generalmajor Mood definerer veteraner slik: ”Våre veteraner har praktisk erfaring med å løse krevende oppdrag i en kompleks situasjon under tidspress i møte med vanskelige verdispørsmål. Soldatenes erfaring og kompetanse skiller seier fra nederlag, og det innebærer større belastning på menneskene” (http://forsvaret.no/veteraner/veterantjenesten/Sider/hva-er-veteran.aspx) 8. mai 2012. Erfaringene og kompetansen innebærer også en høy grad av beredskap i forhold til omgivelsene i operasjonsområdet. Ved hjemkomst er opplevelsen av å være fysisk i Norge, men mentalt i et tidligere operasjonsområde er utvilsomt svært slitsom å leve med. Den høye mentale beredskapen ovenfor plutselige påvirkninger som kan skade eller drepe, er ikke blitt deaktivert. De fleste av oss har sett veteraner på tv, som flere tiår etter at de kom hjem forteller om den bråe overgangen mellom operasjonsområdet og Norge. De forteller om sine handlinger som å kaste seg i skjul og dekning ved skarpe smell, eller at de finner det naturlig å lage stillinger av sandsekker på terrassen sin. Dette er stressreaksjoner som kan utvikle seg til post traumatisk stressyndrom (PTSD), dette er en diagnose som det har tatt lang tid å erkjenne som en sykdom eller skade som følge av opplevelsene i operasjonsområdet. Hvordan kan Forsvaret ivareta sine veteraner på en måte hvor de føler sin egen innsats og erfaring blir verdsatt av Forsvaret og det øvrige samfunn. Vi har valgt å se nærmere på et helt nytt konsept innen krisehåndtering i Hæren, knyttet til internasjonale operasjoner. Konseptet kalles ”Mellomlanding” og er forankret i Regjeringens handlingsplan (RHP) som tiltak nr 48. Hensikten med ”Mellomlandingen” er å skjerme personellet for å gjennomføre debrifingsprosesser, dette skal gi mulighet til å kunne tilpasse seg fra ”operasjonsmiljøet” og tilbake til ”normalmiljøet”. Kan Hæren og Forsvaret dra nytte av et slikt konsept, ved å lage en vinn, vinn situasjon

Maternal complications in pregnancy and childbirth for women with epilepsy: time trends in a nationwide cohort

Objective: Obstetric trends show changes in complication rates and maternal characteristics such as caesarean section, induced labour, and maternal age. To what degree such general time trends and changing patterns of antiepileptic drug use influence pregnancies of women with epilepsy (WWE) is unknown. Our aim was to describe changes in maternal characteristics and obstetric complications in WWE over time, and to assess changes in complication risks in WWE relative to women without epilepsy. Methods: This was a nationwide cohort study of all first births in the Medical Birth Registry of Norway, 1999–2016. We estimated maternal characteristics, complication rates, and risks for WWE compared to women without epilepsy. Main maternal outcome measures were hypertensive disorders, bleeding in pregnancy, induction of labour, caesarean section, postpartum hemorrhage, preterm birth, small for gestational age, and epidural analgesia. Time trends were analyzed by logistic regression and comparisons made with interaction analyses. Results: 426 347 first births were analyzed, and 3077 (0.7%) women had epilepsy. In WWE there was an increase in proportions of induced labour (p<0.005) and use of epidural analgesia (p<0.005), and a reduction in mild preeclampsia (p = 0.006). However, the risk of these outcomes did not change over time. Only the risk of severe preeclampsia increased significantly over time relative to women without epilepsy (p = 0.006). In WWE, folic acid supplementation increased significantly over time (p<0.005), and there was a decrease in smoking during pregnancy (p<0.005), but these changes were less pronounced than for women without epilepsy (p<0.005). Conclusions: During 1999–2016 there were important changes in maternal characteristics and complication rates among WWE. However, outcome risks for WWE relative to women without epilepsy did not change despite changes in antiepileptic drug use patterns. The relative risk of severe preeclampsia increased in women with epilepsy.publishedVersio

Quantitative proteomics of nutrient limitation in the hydrogenotrophic methanogen Methanococcus maripaludis

<p>Abstract</p> <p>Background</p> <p>Methanogenic Archaea play key metabolic roles in anaerobic ecosystems, where they use H₂and other substrates to produce methane. <it>Methanococcus maripaludis </it>is a model for studies of the global response to nutrient limitations.</p> <p>Results</p> <p>We used high-coverage quantitative proteomics to determine the response of <it>M. maripaludis </it>to growth-limiting levels of H₂, nitrogen, and phosphate. Six to ten percent of the proteome changed significantly with each nutrient limitation. H₂limitation increased the abundance of a wide variety of proteins involved in methanogenesis. However, one protein involved in methanogenesis decreased: a low-affinity [Fe] hydrogenase, which may dominate over a higher-affinity mechanism when H₂is abundant. Nitrogen limitation increased known nitrogen assimilation proteins. In addition, the increased abundance of molybdate transport proteins suggested they function for nitrogen fixation. An apparent regulon governed by the euryarchaeal nitrogen regulator NrpR is discussed. Phosphate limitation increased the abundance of three different sets of proteins, suggesting that all three function in phosphate transport.</p> <p>Conclusion</p> <p>The global proteomic response of <it>M. maripaludis </it>to each nutrient limitation suggests a wider response than previously appreciated. The results give new insight into the function of several proteins, as well as providing information that should contribute to the formulation of a regulatory network model.</p

Legacy effects of experimental environmental change on soil micro-arthropod communities

© 2020 The Authors. Global change experiments such as experimental warming and nutrient addition strongly affect the structure and functioning of high latitude and altitude ecosystems. However, it is often unknown to what extend such effects are permanent or whether changes persist after environmental conditions return to pre-treatment levels. In this study, we assess the legacy effects of temperature manipulation and nutrient addition experiments on alpine soil micro-arthropod (i.e., Collembola and Oribatida) communities nine years after the treatments were discontinued. Treatment effects on the vegetation were still detectable six years after cessation, although grazing increased the recovery rate. Because micro-arthropods are often closely associated with vegetation, we expected to find that treatment effects on Collembola and Oribatida abundance and species composition persisted to date, reflecting plant community dynamics. Also, we expected large-bodied, drought-resistant Collembola species that live on top of the soil to show less strong legacy effects. We did not find legacy effects of environmental treatments on Collembola and Mesostigmata in terms of abundance. However, we found persistent changes in community composition of Collembola and Oribatida, suggesting treatment effects persist to date. The generalist Folsomia quadrioculata was the most responsive Collembola species to initial treatments, most likely due to its variable life-history strategy. Although its abundance recovered, F. quadrioculata remained dominant in Collembola communities after cessation of the treatments. Grazing affected community composition of both Collembola and Oribatida, but we did not find grazing to reduce legacy effects on micro-arthropod as it did for vegetation. We therefore conclude that the environmental treatments had only temporary effects on micro-arthropods in terms of overall abundance, but that effects on individual species and therefore species composition may be long-lasting and less predictable.The study was designed by Johan Asplund, Juha M. Alatalo, and Kari Klanderud. Field work was performed by Ruben Erik Roos, Johan Asplund, Kari Klanderud, and Tone Birkemoe. Peter Ľuptáčik and Natália Raschmanová identified soil micro‐arthropods for 2016. Statistical analyses were performed by Ruben Erik Roos and Siri Lie Olsen. All co‐authors contributed to manuscript revisions and agree with the final version. This study was funded by Carl Tryggers stiftelse för vetenskaplig forskning through a grant to Juha M. Alatalo and a grant from the Research Council of Norway (249902) to Johan Asplund. We thank Sigmund Hågvar for sharing his original data, comments and feedback, Hans Cornelissen and Stef Bokhorst for useful discussions, and Matty Berg for sharing data from his personal Collembola database. Mari Steinert, Ross Wetherbee, Mahdieh Tourani, and Richard Bischof were of great help for discussions on the statistical analyses. We thank the Finse Alpine Research Center and Erika Leslie for hospitality during fieldwork and Kristel van Zuijlen for assistance in the field

Perioperative, short, and long-term mortality related to fixation in primary total hip arthroplasty: a study of 79,557 patients in the Norwegian Arthroplasty Register

Background and purpose — There are reports on perioperative deaths in cemented total hip arthroplasty (THA), and THA revisions are associated with increased mortality. We compared perioperative (intraoperatively or within 3 days of surgery), short-term and long-term mortality after all-cemented, all-uncemented, reverse hybrid (cemented cup and uncemented stem), and hybrid (uncemented cup and cemented stem) THAs. Patients and methods — We studied THA patients in the Norwegian Arthroplasty Register from 2005 to 2018, and performed Kaplan–Meier and Cox survival analyses with time of death as end-point. Mortality was calculated for all patients, and in 3 defined risk groups: high-risk patients (age ≥ 75 years and ASA > 2), intermediate-risk patients (age ≥ 75 years or ASA > 2), low-risk patients (age < 75 years and ASA ≤ 2). We also calculated mortality in patients with THA due to a hip fracture, and in patients with commonly used, contemporary, well-documented THAs. Adjustement was made for age, sex, ASA class, indication, and year of surgery. Results — Among the 79,557 included primary THA patients, 11,693 (15%) died after 5.8 (0–14) years’ follow-up. Perioperative deaths were rare (30/105) and found in all fixation groups. Perioperative mortality after THA was 4/105 in low-risk patients, 34/105 in intermediate-risk patients, and 190/105 in high-risk patients. High-risk patients had 9 (CI 1.3–58) times adjusted risk of perioperative death compared with low-risk patients. All 4 modes of fixation had similar adjusted 3-day, 30-day, 90-day, 3–30 day, 30–90 day, 90-day–10-year, and 10-year mortality risk. Interpretation — Perioperative, short-term, and long-term mortality after primary THA were similar, regardless of fixation type. Perioperative deaths were rare and associated with age and comorbidity, and not type of fixation.publishedVersio