Wealth Creation In The Recent Merger Boom, The Canadian Evidence

We examine the merger announcements of Canadian companies between 1994 and 2000 during an exceptional merger boom. Our results show that both target companies and the acquirer companies obtain significant positive abnormal returns at this time period.  However, in the long run, we observe that abnormal returns diminish to become significant and negative for acquiring companies and diminish to be non-significant and positive for target companies.  We find acquiring companies to have significantly higher risk that purchase private targets compared with public targets, despite non-significant differences in returns.  Our large sample study updates and fills a void in Canadian merger studies during this important and recent time period in merger and acquisitions

A Comparison of Two Formulas of Topical Menthol on Vascular Responses and Perceived Intensity Prior to and following a Bout of Maximum Voluntary Muscular Contractions (MVMCs)

The purpose of this study was to compare the vascular responses in the brachial artery and perceived intensity of two different formulas of topical menthol gels prior to and following a bout of maximum voluntary muscular contractions (MVMCs). 18 adults completed the same protocol on different days using blinded topical menthol gels (Old Formula and New Formula). Heart rate, brachial artery blood flow (ml/min), vessel diameter and reported intensity of sensation were measured at baseline (T1), at 5 min after application of the gel to the upper arm (T2), and immediately following five MVMCs hand grips (T3). The New Formula exhibited a significant decline in blood flow (−22.6%) between T1 and T2 which was not different than the nonsignificant declines under the Old Formula 1 (−21.8%). Both formulas resulted in a significant increase in perceived intensity of sensation between T1 and T2. Blood flow increased significantly with the New Formula (488%) between T2 and T3 and nonsignificantly with the Old Formula (355%)

Big data optical music recognition with multi images and multi recognisers

In this paper we describe work in progress towards Multi-OMR, an approach to Optical Music Recognition (OMR) which aims to significantly improve the accuracy of musical score digitisation. There are a large number of scores available in public databases, as well as a range of different commercial and open source OMR tools. Using these resources, we are exploring a Big Data approach to harnessing datasets by aligning and combining the results of multiple versions of the same score, processed with multiple technologies. It is anticipated that this approach will yield high quality results, opening up large datasets to researchers in the field of digital musicology

Automated Flight Routing Using Stochastic Dynamic Programming

Airspace capacity reduction due to convective weather impedes air traffic flows and causes traffic congestion. This study presents an algorithm that reroutes flights in the presence of winds, enroute convective weather, and congested airspace based on stochastic dynamic programming. A stochastic disturbance model incorporates into the reroute design process the capacity uncertainty. A trajectory-based airspace demand model is employed for calculating current and future airspace demand. The optimal routes minimize the total expected traveling time, weather incursion, and induced congestion costs. They are compared to weather-avoidance routes calculated using deterministic dynamic programming. The stochastic reroutes have smaller deviation probability than the deterministic counterpart when both reroutes have similar total flight distance. The stochastic rerouting algorithm takes into account all convective weather fields with all severity levels while the deterministic algorithm only accounts for convective weather systems exceeding a specified level of severity. When the stochastic reroutes are compared to the actual flight routes, they have similar total flight time, and both have about 1% of travel time crossing congested enroute sectors on average. The actual flight routes induce slightly less traffic congestion than the stochastic reroutes but intercept more severe convective weather

Perceived importance and levels of technical English communication skills among stakeholders in engineering fields

The purposes of this study were to examine stakeholders’ perceptions of the importance of technical English communication skills in engineering and academic teachers and industry professionals’ perceptions of current engineering students’ and graduates’ levels of technical communication skills. Survey questionnaires were designed to collect data from different research participants. The data were subsequently analysed using descriptive statistics. The study identified a discrepancy between students’ self-perceived performance on technical English communication skills and their perceived standards of these skills required by the programmes in which they were enrolled. Technical communication skills, including writing in engineering genres, essays and technical reports, reading and speaking, were viewed to be fairly important for their academic success. The findings also indicated that the students’ abilities in writing in engineering genres, and essays and technical report writing were perceived to be below the standards. In addition, the study highlighted that industry professionals viewed the technical communication skills of engineering graduates working in the engineering sectors as inadequate. Based on these results, it is vitally important to develop a tailor-made enhancement course to cater for the specific needs of engineering students, including technical communication skills for their study programmes and to prepare them for workplace needs of engineers in the near future

Vehicle Wheelchair Storage Final Design Report

Many people who use wheelchairs are very active. They have errands to run and lives to live just like everybody else. For a busy person who uses a wheelchair there are currently no quick methods for storing and unloading your wheelchair from your vehicle that do not require expensive custom modifications which can ruin the resell value and the aesthetics of the vehicle. This has resulted in users hastily loading their wheelchairs which can cause damage to the wheelchair, the vehicle, and other passengers while the vehicle is in motion. The goal of this project was to develop a wheelchair storage system that can be installed in any vehicle and securely store any wheelchair during transportation. The device allows for a wheelchair to be quickly and compactly stored behind the driver’s seat. Hopefully by making this process quick and safe this device can improve the lives of many users

Proceedings of the 1st International Conference on Live Coding

Open Access peer reviewed papers on live coding published at the 1st International Conference on Live Coding (ICLC) in Leeds

Stock price reactions to reopening announcements after China abolished its zero-COVID policy

As global economies strive for post-COVID recovery, stock market reactions to reopening announcements have become crucial indicators. Though previous research has extensively focused on COVID’s detrimental impact on stock markets, the effects of reopening remain underexplored. This study provides the first causal analysis of the effect of easing restrictions on Chinese firms’ stock prices following the end of China’s three-year Zero-COVID policy. Utilizing regression-discontinuity design, we find that most relaxed measures had minimal or negative impact. However, stock prices jumped 1.4% immediately after the full reopening announcement on December 26, 2022. Using a difference-in-differences approach, we also note a 1.6% increase in the stock prices of Mainland China firms relative to firms in other districts on the Hong Kong stock market two months post-reopening. Our findings offer key insights for policymakers and contribute significantly to academic discourse on the causal relationship between reopening policies and stock market performance

Improving optical music recognition by combining outputs from multiple sources

Current software for Optical Music Recognition (OMR) produces outputs with too many errors that render it an unrealistic option for the production of a large corpus of symbolic music files. In this paper, we propose a system which applies image pre-processing techniques to scans of scores and combines the outputs of different commercial OMR programs when applied to images of different scores of the same piece of music. As a result of this procedure, the combined output has around 50% fewer errors when compared to the output of any one OMR program. Image pre-processing splits scores into separate movements and sections and removes ossia staves which confuse OMR software. Post-processing aligns the outputs from different OMR programs and from different sources, rejecting outputs with the most errors and using majority voting to determine the likely correct details. Our software produces output in MusicXML, concentrating on accurate pitch and rhythm and ignoring grace notes. Results of tests on the six string quartets by Mozart dedicated to Joseph Haydn and the first six piano sonatas by Mozart are presented, showing an average recognition rate of around 95%