Target company cross-border effects in acquisitions into the UK

We analyse the abnormal returns to target shareholders in crossborder and domestic acquisitions of UK companies. The crossborder effect during the bid month is small (0.84%), although crossborder targets gain significantly more than domestic targets during the months surrounding the bid. We find no evidence for the level of abnormal returns in crossborder acquisitions to be associated with market access or exchange rate effects, and only limited support for an international diversification effect. However, the crossborder effect appears to be associated with significant payment effects, and there is no significant residual crossborder effect once various bid characteristics are controlled for

Leeway for the loyal: a model of employee discretion

This article examines the factors underlying task discretion from an economist's perspective. It argues that the key axis for understanding discretion is the trade-off between the positive effects of discretion on potential output per employee and the negative effects of greater leeway on work effort. In empirical analysis using matched employer-employee data, it is shown that discretion is strongly affected by the level of employee commitment. In addition, discretion is generally greater in high-skilled jobs, although not without exceptions, and lower where employees are under-skilled. Homeworking and flexitime policies raise employee discretion. The impact of teamworking is mixed. In about half of cases team members do not jointly decide about work matters, and the net effect of teams on task discretion in these cases is negative. In other cases, where team members do decide matters jointly, the impact is found to be neutral according to employees' perceptions, or positive according to managers' perceptions. There are also significant and substantial unobserved establishment-level factors which affect task discretion

Using ‘sport in the community schemes’ to tackle crime and drug use among young people: Some policy issues and problems

This is a PDF version of an article published in European physical education review © Sage, 2004. The definitive version is available at www.sagepub.com.This article discusses the effectiveness of sport in the community schemes such as the Positive Futures initative and Summer Splsh/Splash Extra in reducing crime and drug use amongst young people

Generalized Craig Interpolation for Stochastic Boolean Satisfiability Problems with Applications to Probabilistic State Reachability and Region Stability

The stochastic Boolean satisfiability (SSAT) problem has been introduced by Papadimitriou in 1985 when adding a probabilistic model of uncertainty to propositional satisfiability through randomized quantification. SSAT has many applications, among them probabilistic bounded model checking (PBMC) of symbolically represented Markov decision processes. This article identifies a notion of Craig interpolant for the SSAT framework and develops an algorithm for computing such interpolants based on a resolution calculus for SSAT. As a potential application area of this novel concept of Craig interpolation, we address the symbolic analysis of probabilistic systems. We first investigate the use of interpolation in probabilistic state reachability analysis, turning the falsification procedure employing PBMC into a verification technique for probabilistic safety properties. We furthermore propose an interpolation-based approach to probabilistic region stability, being able to verify that the probability of stabilizing within some region is sufficiently large

Employment mobility in high-technology agglomerations: the cases of Oxfordshire and Cambridgeshire

This paper examines labour market behaviour of the highly skilled in high-tech local economies, taking the UK examples of Oxfordshire and Cambridgeshire as case studies. It reports on data from a survey of members of three scientific institutes to compare rates of employee mobility in the two locations and considers the likely explanations and implications of those patterns

The quality of different types of child care at 10 and 18 months. A comparison between types and factors related to quality.

The quality of care offered in four different types of non-parental child care to 307 infants at 10 months old and 331 infants at 18 months old was compared and factors associated with higher quality were identified. Observed quality was lowest in nurseries at each age point, except that at 18 months they offered more learning activities. There were few differences in the observed quality of care by child-minders, grandparents and nannies, although grandparents had somewhat lower safety and health scores and offered children fewer activities. Cost was largely unrelated to quality of care except in child-minding, where higher cost was associated with higher quality. Observed ratios of children to adults had a significant impact on quality of nursery care; the more infants or toddlers each adult had to care for, the lower the quality of the care she gave them. Mothers' overall satisfaction with their child's care was positively associated with its quality for home-based care but not for nursery settings

Exploring the use of new school buildings through post-occupancy evaluation and participatory action research

This paper presents the results of the development and testing of an integrated post-occupancy evaluation (POE) approach for teachers, staff, pupils and community members using newly constructed school buildings. It focusses on three cases of UK secondary schools, demonstrating how users can be inspired to engage with the problems of school design and energy use awareness. The cases provided new insights into the engagement of school teachers, staff and young people regarding issues of sustainability, management, functional performance and comfort. The integrative approach adopted in these cases provided a more holistic understanding of these buildings’ performance than could have been achieved by either observational or more traditional questionnaire-based methods. Moreover, the whole-school approach, involving children in POE, provided researchers with highly contextualised information about how a school is used, how to improve the quality of school experiences (both socially and educationally) and how the school community is contributing to the building's energy performance. These POE methods also provided unique opportunities for children to examine the social and cultural factors impeding the adoption of energy-conscious and sustainable behaviours

Impact of inactivated poliovirus vaccine on mucosal immunity: implications for the polio eradication endgame.

The polio eradication endgame aims to bring transmission of all polioviruses to a halt. To achieve this aim, it is essential to block viral replication in individuals via induction of a robust mucosal immune response. Although it has long been recognized that inactivated poliovirus vaccine (IPV) is incapable of inducing a strong mucosal response on its own, it has recently become clear that IPV may boost immunity in the intestinal mucosa among individuals previously immunized with oral poliovirus vaccine. Indeed, mucosal protection appears to be stronger following a booster dose of IPV than oral poliovirus vaccine, especially in older children. Here, we review the available evidence regarding the impact of IPV on mucosal immunity, and consider the implications of this evidence for the polio eradication endgame. We conclude that the implementation of IPV in both routine and supplementary immunization activities has the potential to play a key role in halting poliovirus transmission, and thereby hasten the eradication of polio

Interprofessional Education: An evaluation of a joint learning workshop for podiatry and pharmacy students

"Interprofessional Education occurs when two or more professionals learn with, from and about each other to improve collaboration and the quality of care" (CAIPE 2002). Interprofessional education forms part of the Standards for the Initial Education and Training of Pharmacists. Working with and understanding the role of another profession has been shown to positively impact on the quality of care of the patient. Following positive pharmacy student feedback from visits to podiatry clinics an interprofessional learning workshop with case - based scenarios was developed. These were based on patients with high risk medical conditions that would impact on the work of both professions. Data from the feedback forms was evaluated and analysed to determine whether the workshop increased knowledge of the British National Formulary (BNF), the prescribing process and gave an insight in to the role of other healthcare professionals. We discuss how the student’s learning has been enhanced by the contribution of another professional group. The workshop was positively received. Students were observed working together discussing the patients’ conditions and issues relating to their care. This initially revolved around the students’ area of knowledge; however, as the session progressed it became apparent that the students were learning with, from and about each other for the benefit of patient care