A Study of Corporate Diversification and Restructuring Activities in the 1980s and 1990s Using Multiple Measures

Using popular/common measures of diversification employed by industrial organization scholars (Jacquemin-Berry entropy measure) and strategy scholars (size of the primary business segment), this study examines the corporate diversification and restructuring activities of American firms (sample from the Fortune 250 list) in the 1980s and 1990s. There is empirical support for the widespread notion that in the 1980s and 1990s, firms underwent major restructuring efforts by divesting unrelated (unprofitable) businesses and strengthening their core business units and related segments. Additionally, the results illustrate the consistencies and discrepancies between the above measures

Outsourcing in Biopharmaceutical Industry: India\u27s Value Propositions

In this paper we discuss the rationale behind biopharmaceutical outsourcing. We then discuss the benefits, challenges, current trends and market opportunities. From January 2005, India has agreed to comply with the product patent protection in accordance with the obligation under the TRIPS Agreement of the WTO. This has created new opportunities as well as challenges for the Indian biopharmaceutical companies. We analyze the value proposition of India as a suitable destination for outsourcing in biopharmaceutical industry in this new business environment. This research will help managers to understand the benefits of biopharmaceutical outsourcing along with its challenges under the current business scenario. Hence, this study is timely and relevant from both an academic and a practitioner’s perspective

Nobody\u27s Grandfather Was A Merchant: Understanding the Soviet Commercial Negotiation Process and Style

In their eagerness to capitalize on the tremendous opportunities there, American businesses are venturing into the Soviet Union with little or no knowledge of Soviet culture or negotiation processes and style. In addition to encouraging unrealistic expectations, this lack of awareness not only increases the frustrations of negotiating with officials from a non-market economy such as the Soviet Union, but also severely impedes decisions about doing business there. It is imperative that U.S. business executives understand Soviet commercial negotiation processes and style if they are to be successful in garnering the huge potential of the Soviet market. © 1991, The Regents of the University of California. All rights reserved

HRM Strategies in Structurally Depressed Industries: The Japanese Approach

Several adverse macro-economic trends beginning in the early 1970’s drastically reduced the relative competitiveness of various sectors of the Japanese economy. Firms in Western (industrialized) countries that were faced with a similar loss of comparative advantage dealt with the problem by undertaking strategies of restructuring--primarily, retrenchment and downsizing strategies. However, in sharp contrast to the Western approach, the Japanese response to industrial decline, from a HRM standpoint, was a product of the political, cultural, and social institutions/values of that society. The Japanese government, business sector and the labor unions worked together to ‘maintain’ employment levels (albeit, mainly that of permanent employees) in order to minimize the costs of adjustment for the key stakeholder groups in particular, and for the Japanese society as a whole, in general

Tackling the Monday Morning Quarterback: Applications of Hindsight Bias in Decision-Making Settings

Extant research has focused largely on what causes hindsight distortion. In contrast, this work examines applied aspects related to the bias in decision-making environments. A conceptual framework is provided and recent real–world examples are presented to outline how decision makers—and those who observe them—show hindsight effects. Then, both negative and positive consequences of the bias are outlined. Strategies are presented to reduce negative effects that occur when decision makers show hindsight distortion. Finally, because it is often not possible to avoid or to correct others\u27 hindsight–tainted evaluations, suggestions for coping with the bias are discussed

Open Data from the Third Observing Run of LIGO, Virgo, KAGRA, and GEO

The global network of gravitational-wave observatories now includes five detectors, namely LIGO Hanford, LIGO Livingston, Virgo, KAGRA, and GEO 600. These detectors collected data during their third observing run, O3, composed of three phases: O3a starting in 2019 April and lasting six months, O3b starting in 2019 November and lasting five months, and O3GK starting in 2020 April and lasting two weeks. In this paper we describe these data and various other science products that can be freely accessed through the Gravitational Wave Open Science Center at https://gwosc.org. The main data set, consisting of the gravitational-wave strain time series that contains the astrophysical signals, is released together with supporting data useful for their analysis and documentation, tutorials, as well as analysis software packages

Open data from the third observing run of LIGO, Virgo, KAGRA and GEO

The global network of gravitational-wave observatories now includes five detectors, namely LIGO Hanford, LIGO Livingston, Virgo, KAGRA, and GEO 600. These detectors collected data during their third observing run, O3, composed of three phases: O3a starting in April of 2019 and lasting six months, O3b starting in November of 2019 and lasting five months, and O3GK starting in April of 2020 and lasting 2 weeks. In this paper we describe these data and various other science products that can be freely accessed through the Gravitational Wave Open Science Center at https://gwosc.org. The main dataset, consisting of the gravitational-wave strain time series that contains the astrophysical signals, is released together with supporting data useful for their analysis and documentation, tutorials, as well as analysis software packages.Comment: 27 pages, 3 figure

Population of Merging Compact Binaries Inferred Using Gravitational Waves through GWTC-3

We report on the population properties of compact binary mergers inferred from gravitational-wave observations of these systems during the first three LIGO-Virgo observing runs. The Gravitational-Wave Transient Catalog 3 (GWTC-3) contains signals consistent with three classes of binary mergers: binary black hole, binary neutron star, and neutron star-black hole mergers. We infer the binary neutron star merger rate to be between 10 and 1700 Gpc-3 yr-1 and the neutron star-black hole merger rate to be between 7.8 and 140 Gpc-3 yr-1, assuming a constant rate density in the comoving frame and taking the union of 90% credible intervals for methods used in this work. We infer the binary black hole merger rate, allowing for evolution with redshift, to be between 17.9 and 44 Gpc-3 yr-1 at a fiducial redshift (z=0.2). The rate of binary black hole mergers is observed to increase with redshift at a rate proportional to (1+z)κ with κ=2.9-1.8+1.7 for z≲1. Using both binary neutron star and neutron star-black hole binaries, we obtain a broad, relatively flat neutron star mass distribution extending from 1.2-0.2+0.1 to 2.0-0.3+0.3M⊙. We confidently determine that the merger rate as a function of mass sharply declines after the expected maximum neutron star mass, but cannot yet confirm or rule out the existence of a lower mass gap between neutron stars and black holes. We also find the binary black hole mass distribution has localized over- and underdensities relative to a power-law distribution, with peaks emerging at chirp masses of 8.3-0.5+0.3 and 27.9-1.8+1.9M⊙. While we continue to find that the mass distribution of a binary's more massive component strongly decreases as a function of primary mass, we observe no evidence of a strongly suppressed merger rate above approximately 60M⊙, which would indicate the presence of a upper mass gap. Observed black hole spins are small, with half of spin magnitudes below χi≈0.25. While the majority of spins are preferentially aligned with the orbital angular momentum, we infer evidence of antialigned spins among the binary population. We observe an increase in spin magnitude for systems with more unequal-mass ratio. We also observe evidence of misalignment of spins relative to the orbital angular momentum

The population of merging compact binaries inferred using gravitational waves through GWTC-3

We report on the population properties of 76 compact binary mergers detected with gravitational waves below a false alarm rate of 1 per year through GWTC-3. The catalog contains three classes of binary mergers: BBH, BNS, and NSBH mergers. We infer the BNS merger rate to be between 10 $\rm{Gpc^{-3} yr^{-1}}$ and 1700 $\rm{Gpc^{-3} yr^{-1}}$ and the NSBH merger rate to be between 7.8 $\rm{Gpc^{-3}\, yr^{-1}}$ and 140 $\rm{Gpc^{-3} yr^{-1}}$ , assuming a constant rate density versus comoving volume and taking the union of 90% credible intervals for methods used in this work. Accounting for the BBH merger rate to evolve with redshift, we find the BBH merger rate to be between 17.9 $\rm{Gpc^{-3}\, yr^{-1}}$ and 44 $\rm{Gpc^{-3}\, yr^{-1}}$ at a fiducial redshift (z=0.2). We obtain a broad neutron star mass distribution extending from $1.2^{+0.1}_{-0.2} M_\odot$ to $2.0^{+0.3}_{-0.3} M_\odot$. We can confidently identify a rapid decrease in merger rate versus component mass between neutron star-like masses and black-hole-like masses, but there is no evidence that the merger rate increases again before 10 $M_\odot$. We also find the BBH mass distribution has localized over- and under-densities relative to a power law distribution. While we continue to find the mass distribution of a binary's more massive component strongly decreases as a function of primary mass, we observe no evidence of a strongly suppressed merger rate above $\sim 60 M_\odot$. The rate of BBH mergers is observed to increase with redshift at a rate proportional to $(1+z)^{\kappa}$ with $\kappa = 2.9^{+1.7}_{-1.8}$ for $z\lesssim 1$. Observed black hole spins are small, with half of spin magnitudes below $\chi_i \simeq 0.25$. We observe evidence of negative aligned spins in the population, and an increase in spin magnitude for systems with more unequal mass ratio