1,985 research outputs found
Preemptive Horizontal Mergers: Theory and Evidence
This paper proposes an explanation of why it can be rational for the profit-maximizing managers of an acquiring firm to conduct a takeover, even when doing so reduces shareholder value. If a firm fears that one of its rivals will gain competitive advantage from taking over some third firm, i can be rational for the first firm to preempt this merger with a takeover attempt of its own. This attempt can be optimal even if it requires the first firm to “overpay” relative to the increase in the joint profits of the combined firms. The paper first presents a model formalizing the above intuition. Then an event study is conducted to test the preemption theory. The empirical results are consistent with the predictions of the preemption theory, as opposed to the alternatives of hubris and agency theories.
A model based DC analysis of SiPM breakdown voltages
A new method to determine the breakdown voltage of SiPMs is presented. It is
backed up by a DC model which describes the breakdown phenomenon by distinct
avalanche turn-on () and turn off () voltages. It is shown that
is related to the 'breakdown voltage' that previous DC methods derive
from simple reverse current-voltage measurements, while is the 'real'
breakdown voltage commonly obtained from complex gain-voltage measurements. The
proposed method reveals how the microcell population distributes around
and . It is found that if this distribution is assumed to be
normal, then both voltages and even their standard deviation can readily be
extracted from current-voltage curves. Measurements are in good agreement with
the theoretical model
Preventing Hospital Acquired Infections Through a Workflow-Based Cyber-Physical System
Hospital acquired infections (HAI) are infections acquired within the
hospital from healthcare workers, patients or from the environment, but which
have no connection to the initial reason for the patient's hospital admission.
HAI are a serious world-wide problem, leading to an increase in mortality
rates, duration of hospitalisation as well as significant economic burden on
hospitals. Although clear preventive guidelines exist, studies show that
compliance to them is frequently poor. This paper details the software
perspective for an innovative, business process software based cyber-physical
system that will be implemented as part of a European Union-funded research
project. The system is composed of a network of sensors mounted in different
sites around the hospital, a series of wearables used by the healthcare workers
and a server side workflow engine. For better understanding, we describe the
system through the lens of a single, simple clinical workflow that is
responsible for a significant portion of all hospital infections. The goal is
that when completed, the system will be configurable in the sense of
facilitating the creation and automated monitoring of those clinical workflows
that when combined, account for over 90\% of hospital infections.Comment: Proceedings of ENASE 2016, ISBN: 978-989-758-189-
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