The Value of Acquiring: An Event Study on Shareholder Value for Defence Sector M&A's

The purpose of this study is to examine whether an acquiring firm that operates as a contractor within the defence sector can expect to generate shareholder value from a merger and acquisition with a fellow defence sector competitor. Having selected thirty acquiring defence firms an event study utilizing the market model is performed to obtain the abnormal returns generated from a merger and acquisition. To account for estimation problems associated with financial data, and to provide accurate and robust results, the GARCH and EGARCH model are also utilized alongside a basic OLS estimation. The results indicate a positive shareholder value creation for acquiring defence sector firms

This Seems to Be Our Darkest Times: The Florida Brigade in Mississippi, June-July 1863

In June 1860, as the United States advanced toward the secession crisis, headmaster Samuel Pasco watched his Waukeenah Academy students exhibit the knowledge they had acquired over the past term to a crowd of proud parents and friends. During the program, the boys demonstrated their proficiency in subjects such as geography, spelling and reading, chemistry, grammar, arithmetic, and translation of Latin.1 Following the formal examinations, the students acted and sang various orations and songs for their guests

The Experiences Of Black Male Teachers In International Schools In East And Southeast Asia

Although substantive research examines the issues surrounding the lack of Black Male Teachers (BMTs) nationally, limited studies involve their experiences in international schools. This is troubling when juxtaposed with their experiences researched and documented during teacher training, hiring practices, and on the job in the U.S. Although the issue is complex, many stem from explicit and implicit racial discrimination from the white racial majority. Given the problems preservice and eventual BMTs face in the U.S., examining BMTs narratives in the international school industry was necessary. Kanter’s token theory suggests that any slice of a social group comprised below 15% of a whole hold no power amongst their respective groups. Currently, the entire Black male teacher population sits at just below 2% in the U.S. This dissertation aimed to explore BMTs experiences in international schools in East and Southeast Asia, where their numbers are likely lower than in the US, and where international schools are often touted as having and being inclusive of a diverse stakeholder community. Practitioner-based narrative interviews with six BMTs found that all participants appreciated and benefited from the knowledge and networking opportunities that supported the development of their international school teaching careers. However, despite being content with their decision to work abroad, they all encountered or took measures to address potential racial discrimination during the hiring process and while teaching. The implications of these findings, along with Kanter\u27s token theory, which served as the theoretical framework for the study, suggest a pressing need to increase the number of BMTs and overall minority teachers and teacher leadership staff by implementing more equitable hiring practices and specific human resources directives. These measures would help to protect minority teachers against racial discrimination and implicit bias

Factors affecting branch wound occlusion and associated decay following pruning – a case study with wild cherry (Prunus avium L.)

Pruning wild cherry (Prunus avium L.) is a common silvicultural practice carried out to produce valuable timber at a veneer wood quality. Sub-optimal pruning treatments can permit un-occluded pruning wounds to develop devaluing decay. The aim of this study is to determine relevant branch, tree and pruning characteristics affecting the occlusion process of pruning wounds. Important factors influencing occlusion time for an optimised pruning treatment for valuable timber production utilising wild cherry are derived. 85 artificially pruned branches originating from ten wild cherry trees were retrospectively analysed. Branch stub length, branch diameter and radial stem increment during occlusion were found to be significant predictors for occlusion time. From the results it could be concluded that for the long term success of artificial pruning of wild cherry it is crucial to (i) keep branch stubs short (while avoiding damage to the branch collar), (ii) to enable the tree to maintain significant radial growth after pruning, (iii) to avoid large pruning wounds (>2.5 cm) by removing steeply angled and fast growing branches at an early stage

Prevalence and costs of treating uncomplicated stage 1 hypertension in primary care: a cross-sectional analysis.

BACKGROUND: Treatment for uncomplicated stage 1 hypertension is recommended in most international guidelines but there is little evidence to indicate that therapy is beneficial. AIM: To estimate the prevalence of this condition in an untreated population and the potential costs of initiating therapy in such patients. DESIGN AND SETTING: Cross-sectional study of anonymised patient records in 19 general practices in the West Midlands, UK. METHOD: Data relating to patient demographics, existing cardiovascular disease (CVD), and risk factors (blood pressure and cholesterol) were extracted from patient records. Patients with a blood pressure of 140/90-159/99 mmHg, no CVD, and <20% 10-year cardiovascular risk were classified as having uncomplicated stage 1 hypertension. Missing data were imputed. The prevalence of untreated, uncomplicated stage 1 hypertension was estimated using descriptive statistics and extrapolated using national data. The cost of achieving blood pressure control in this population was examined in a cost-impact analysis using published costs from previous studies. RESULTS: Of the 34 975 patients (aged 40-74 years) in this study, untreated, uncomplicated stage 1 hypertension was present in 2867 individuals (8.2%, 95% confidence interval [CI] = 7.9 to 8.5). This is equivalent to 1 892 519 patients in England and Wales, for whom the additional cost of controlling blood pressure, according to guidelines, was estimated at £106-229 million per annum, depending on the health professional delivering care. CONCLUSION: Untreated, uncomplicated stage 1 hypertension is relatively common, affecting 1 in 12 patients aged 40-74 years in primary care. Current international guidelines and pay-for-performance targets, if followed, will incur significant costs for a patient benefit that is debatable.This work forms part of a larger programme on stroke prevention in primary care supported by the National Institute for Health Research (NIHR) (RP-PG-0606-1153). James P Sheppard holds a Medical Research Council Strategic Skills PostDoctoral Fellowship. Richard J McManus holds an NIHR Professorship. The views and opinions expressed are those of the authors and do not necessarily reflect those of the NHS, NIHR, or the Department of Health

Self‐organizing cicada choruses respond to the local sound and light environment

This work is licensed under a Creative Commons Attribution 4.0 International License.1. Periodical cicadas exhibit an extraordinary capacity for self‐organizing spatially synchronous breeding behavior. The regular emergence of periodical cicada broods across the United States is a phenomenon of longstanding public and scientific interest, as the cicadas of each brood emerge in huge numbers and briefly dominate their ecosystem. During the emergence, the 17‐year periodical cicada species Magicicada cassini is found to form synchronized choruses, and we investigated their chorusing behavior from the standpoint of spatial synchrony. 2. Cicada choruses were observed to form in trees, calling regularly every five seconds. In order to determine the limits of this self‐organizing behavior, we set out to quantify the spatial synchronization between cicada call choruses in different trees, and how and why this varies in space and time. 3. We performed 20 simultaneous recordings in Clinton State Park, Kansas, in June 2015 (Brood IV), with a team of citizen‐science volunteers using consumer equipment (smartphones). We use a wavelet approach to show in detail how spatially synchronous, self‐organized chorusing varies across the forest. 4. We show how conditions that increase the strength of audio interactions between cicadas also increase the spatial synchrony of their chorusing. Higher forest canopy light levels increase cicada activity, corresponding to faster and higher‐amplitude chorus cycling and to greater synchrony of cycles across space. We implemented a relaxation‐oscillator‐ensemble model of interacting cicadas, finding that a tendency to call more often, driven by light levels, results in all these effects. 5. Results demonstrate how the capacity to self‐organize in ecology depends sensitively on environmental conditions. Spatially correlated modulation of cycling rate by an external driver can also promote self‐organization of phase synchrony.NSF grant 1442595NSF grant 17114195James S McDonnell FoundationUniversity of KansasUSDA‐NIFA 2016‐67012‐24694NatureNet Science Fellowshi

Perceived Ability to Treat Opioid Use Disorder in West Virginia

Introduction: Medication-assisted treatment (MAT) is an evidence-based therapy for opioid use disorder (OUD) that has not been fully implemented in rural areas due to patient, provider, and logistical barriers. Limited information is available on provider perceptions of barriers to MAT in rural Central Appalachia which has very high rates of OUD compared to the rest the United States. Purpose: Determine perceived barriers for potential prescribers to using MAT, including buprenorphine, as part of treatment for OUD in West Virginia. Methods: A 30-question, anonymous survey was sent to physicians, physician assistants and advanced practice registered nurses using an online link. Link was distributed through the WV Medicaid provider list, professional association and institutional contact lists, and social media. Comparisons were made by provider waivered or non-waivered status. Results: Overall, 84% of waivered providers (n = 77) and only 8% of non-waivered providers (n = 341) indicated ever prescribing a form of MAT for OUD; 73% percent of waivered providers were currently prescribing MAT and accepting new patients with OUD. Only 4% of non-waivered providers were currently prescribing MAT and 21% were currently accepting new patients with OUD. Lack of available mental health and psychosocial support services and concerns about diversion or misuse of medication were the top perceived barriers to implementing MAT programs. Implications: Implementing strategies to improve access to behavioral health care including telehealth and apps, provider training and addressing stigma around OUD treatment were identified as priorities that would help increase providers’ willingness to prescribe medications for OUD treatment

MARVEL Analysis of the Measured High-Resolution Rovibronic Spectra of 90Zr16O

Zirconium oxide(ZrO) is an important astrophysical molecule that defines the S-star classification class for cool giant stars. Accurate, empirical rovibronic energy levels, with associated labels and uncertainties, are reported for 9 low-lying electronic states of the diatomic 90Zr16O molecule. These 8088 empirical energy levels are determined using the Marvel (Measured Active Rotational-Vibrational Energy Levels) algorithm with 23 317 input assigned transition frequencies, 22 549 of which were validated. A temperature-dependent partition function is presented alongside updated spectroscopic constants for the 9 low-lying electronic states

Disturbance and nutrients synchronise kelp forests across scales through interacting Moran effects

Spatial synchrony is a ubiquitous and important feature of population dynamics, but many aspects of this phenomenon are not well understood. In particular, it is largely unknown how multiple environmental drivers interact to determine synchrony via Moran effects, and how these impacts vary across spatial and temporal scales. Using new wavelet statistical techniques, we characterised synchrony in populations of giant kelp Macrocystis pyrifera, a widely distributed marine foundation species, and related synchrony to variation in oceanographic conditions across 33 years (1987–2019) and >900 km of coastline in California, USA. We discovered that disturbance (storm-driven waves) and resources (seawater nutrients)—underpinned by climatic variability—act individually and interactively to produce synchrony in giant kelp across geography and timescales. Our findings demonstrate that understanding and predicting synchrony, and thus the regional stability of populations, relies on resolving the synergistic and antagonistic Moran effects of multiple environmental drivers acting on different timescales