...This paper presents clinically-based studies of two acquisitions that received very different stock market reactions at announcementCone positive and one negative. Despite the differing market reactions, we find that, ultimately, neither acquisition created value overall. In exploring the reasons for the acquisition outcomes, we rely primarily on interviews with managers and on internally generated performance data. We compare the results of these analyses to those from analyses of post-acquisition operating and stock price performance traditionally applied to large samples. We draw two primary conclusions. (1) Our findings highlight the difficulty of implementing a successful acquisition strategy and of running an effective internal capital market. Post-acquisition difficulties resulted because: (a) managers of the acquiring company did not deeply understand the target company at the time of the acquisition; (b) the acquirer imposed an inappropriate organizational design on the target as part of the post-acquisition integration process; and (c) inappropriate management incentives existed at both the top management and division level. (2) Measures of operating performance used in large sample studies are weakly correlated with actual post-acquisition operating performance. * University of Chicago and NBER, University of Chicago, and Harvard University, respectively. We especially thank Shel Erikson, Thomas Hix, William Berger, Michael Grimes and Joseph Chamberlain...
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...Business Research Case Study QNT/565 April 1, 2013 Subas Nandy, Ph.D. Business Research Case Study The following business research case study is decision-making within the workplace of a new supervisor. Because of the closing of the workforce center that Frances Holden was working, she was relocated to the Northeast location where her El Paso area supervisor, Mano, resides. Frances could not relocate to the new yet until the expansion is completed. On February 22, 2013 Frances and her coworker, Jimmie, was relocated to the Northeast workforce center. The plan was for Frances to work at the center for two weeks, have her knee surgery, and by the time she return back to work she will be able to relocate to the new center with her supervisor and coworker. During her two weeks at the Northeast center, Frances noticed the change in operation and the unethical way the previous supervisor, Frank, was giving himself credit for clients he did not see. The work study staff was seeing the clients and providing them job referrals. Frances first day working, a work study gave her a piece of paper of what he did with a client such as job referrals. Frances politely inform the work study that she could not enter services into the computer if she did not see the client. Frances observed that Frank (he was the only one working at the center until more staff came onboard) did not start seeing clients until 9:00 a.m. and not after 4:00 p.m. The staff were taking anywhere between an hour to...
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...International Journal of Manpower Emerald Article: Brain drain from Turkey: the case of professionals abroad Nil Demet Güngör, Aysit Tansel Article information: To cite this document: Nil Demet Güngör, Aysit Tansel, (2008),"Brain drain from Turkey: the case of professionals abroad", International Journal of Manpower, Vol. 29 Iss: 4 pp. 323 - 347 Permanent link to this document: http://dx.doi.org/10.1108/01437720810884746 Downloaded on: 12-05-2012 References: This document contains references to 35 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 1649 times. Access to this document was granted through an Emerald subscription provided by IQRA UNIVERSITY KARACHI For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which publication to write for and submission guidelines are available for all. Additional help for authors is available for Emerald subscribers. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.com With over forty years' experience, Emerald Group Publishing is a leading independent publisher of global research with impact in business, society, public policy and education. In total, Emerald publishes over 275 journals and more than 130 book series, as well as an extensive range of online products and services. Emerald is both COUNTER 3 and TRANSFER...
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...Beyoncé’s risk investment | AbstractA case study which taps into the high risk investment the American singer Beyoncé took to produce her fifth album in a non-traditional way. Reine Kolle (瑞丽) Student ID: 1120150914 | Beyoncé’s risk investment | AbstractA case study which taps into the high risk investment the American singer Beyoncé took to produce her fifth album in a non-traditional way. Reine Kolle (瑞丽) Student ID: 1120150914 | Beyoncé’s Risky Investment Overview As part of our curriculum education we were asked to find a short case study that we thought to be of an interest in investments. Thus, this paper will discuss concisely the Harvard case study; written by Anita Elberse and Stacie Smith (2014), on the American singer Beyoncé and how much of a business gamble her project really was. The reason I find this case to be of interest is because of its depth into risky decision making and the uncertainty of expected results in investment. The approach of this case study is an analytical approach. This approach does not identify problems but it examines the case in order to understand what has happened and why. Key word: risk-return tradeoff Case study In December 2013, music superstar Beyoncé is about to surprise her fans with the release of her self-titled album. The team at her company Parkwood Entertainment, which general manager Lee Anne Callahan-Longo described as "a management, music, and production company that is owned and at the highest...
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...Fall 2010 Case Discussion Questions Instructor: Professor Edward H. Chow 周行一 Case study: financial bubble Case: Trouble with a bubble (9-808-067) 1. Why did Irving Fisher believe that stock prices had reached a permanently high plateau? 2. Why did the stock market crash in 1929? 3. Why did influential individuals like Fisher, Keynes and Rockefeller believe that the downturn would only be temporary? Case study: investment banking business and global financial crisis Case: Investment banking in 2008 (A): Rise and fall of the Bear (KEL378) 1. What role did Bear’s culture play in its positioning vis-à-vis its competitors, and what role might that culture have played in its demise? 2. 2. How did Bear’s potential collapse differ from that of LTCM in the eyes of the Federal Reserve? 3. What would Bear have done differently to avoid its fate? a. - In the early 2000s? b. - During the summer of 2007? c. - During the week of March 10, 2008? 4. Who stood to benefit from Bear’s implosion? 5. Is market perception of liquidity more important for an investment bank than it is for an traditional manufacturing or distribution business? If so, why? 6. How could Bear have addressed perceptions of its liquidity? Could it have stopped the run on the bank, and if so, how? 7. Did Bear’s failure undermine the viability of so called “pure-play” investment banks? 8. What role should the Fed play in maintaining order in world securities markets? Case: Investment...
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...Market Beta (β) and Stock Returns - An Analysis of Select Companies I INTRODUCTION During the past three decades, CAPM (Capital Asset Pricing Model) has been studied in great depth and is used as the standard risk-return model by various researchers and academicians. The basic premise of CAPM is that the stocks with a higher beta yield higher returns for the investors. One of the conditions stipulated in the model is that the said return should be higher than the return of the risk-free asset. But, if the market return falls short of the riskless rate, then stocks with higher betas yield lower returns for the investors. Pettengill, Sundaram, Mathur (1995) call this the conditional (ex-post) relations between beta and return. Their research output concludes that there is a positive and statistically significant relationship between beta and returns. The present paper is a similar attempt based on the work of Pettengill/Sundaram/Mathur (1995). The objective of this research initiative is threefold. First, we compute ‘beta’ (β) for each security with a view to examine the ‘systematic risk’ present in the market with the help of selected sample companies. Secondly, we classify the companies based on the beta coefficient as ‘high-risk’ and ‘low-risk’ based on both daily and monthly returns basis. Finally, we examine whether the risk category of companies undergoes significant changes between monthly and daily returns basis or not. Financial economists have applied...
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...Work 30 (2008) 311–316 IOS Press 311 Disclosure of mental health Kathy Hatchard∗ Hatchard Rehabilitation, Penticton, British Columbia, Canada Abstract. As today’s workplaces strive toward a climate of inclusiveness for persons with disabilities, much work remains for employers in developing a process to achieve this ideal. While survivors of mental illness are encouraged to disclose related concerns to their employer, such sharing of personal information remains daunting. Similarly, employers attempting to assist the process are often awed by the extent of collaborations involved in integrating employees with mental health issues back to work as well as concern about compliance with human rights legislation. Needed accommodations in terms of approach to the work itself are often simple; however substantiating the need for adjustments is more complex. This case study introduces a model to support the development of shared goals and shared understandings for return to work (RTW) among workers with mental health concerns, employers, co-workers and therapists. The model of occupational competence is used as a basis to guide dialogue, identify challenges and generate solutions that take into consideration a worker’s preferences, sensitivities, culture and capacities in relationship to the occupational demands in a given workplace environment. A case study is used to demonstrate the potential utility of the model in assisting stakeholders to strengthen collaborations and...
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...Corporate Strategy Case Study Analysis WHAT IS CASE STUDY ANALYSIS? A case study presents an account of what happened to a business or industry over a number of years. It chronicles the events that managers had to deal with, such as changes in the competitive environment, and charts the managers' response, which usually involved changing the business- or corporate-level strategy. Cases prove valuable in a course for several reasons. First, cases provide you, the student, with experience of organizational problems that you probably have not had the opportunity to experience firsthand. In a relatively short period of time, you will have the chance to appreciate and analyze the problems faced by many different companies and to understand how managers tried to deal with them. Second, cases illustrate what you have learned. The meaning and implication of this information are made clearer when they are applied to case studies. The theory and concepts help reveal what is going on in the companies studied and allow you to evaluate the solutions that specify companies adopted to deal with their problems. Consequently, when you analyze cases, you will be like a detective who, with a set of conceptual tools, probes what happened and what or who was responsible and then marshals the evidence that provides the solution. Top managers enjoy the thrill of testing their problem-solving abilities in the real world. It is important to remember, after all, that no one knows what the right...
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...Chapter One: Introduction 1.1 Background Functioning of capital market in Bangladesh mainly started with the beginning of trading activities of Dhaka Stock Exchange. It first incorporated as East Pakistan Stock Exchange Association Ltd in 28 April 1954 and started formal trading in 1956. It was renamed as East Pakistan Stock Exchange Ltd in 23 June 1962. Again in 13 May 1964 it was renamed as Dacca Stock Exchange Ltd. After the liberation war in 1971 the trading was discontinued for five years. In 1976 trading restarted in Bangladesh. In 16 September 1986 was started. The formula for calculating DSE all share price index was changed according to IFC in 1 November 1993. The automated trading was initiated in 10 August 1998. In 1 January 2001 was started. Central Depository System was initiated in 24 January 2004. As of November 16, 2009, the benchmark index of the Dhaka Stock Exchange (DSE) crossed 4000 points for the first time, because of the debut of Grameen Phone in DSE. From the year 2007 the market capitalization is growing at a constant pace. The market is growing both in capitalization and trading volume. The growth is fueled by increased demand for financial assets and influx of liquid money. The growth is outpacing the growth of the national economy. Sudden rise of capitalization in DSE has raised the question, whether the growth has been healthy and market is functioning in a justifiable...
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...the grading philosophy and the grading rubrics that will be used in this course. There are 200 possible points in this course and the points allocated to each of the written assignments are self-explanatory. I will use one grading rubric for each of the individual one page written assignments in this course. There is no rubric for the case studies, but there are guidelines for them in the supplemental material. The written assignment rubrics will be returned to you when I return the feedback on the assignment. I will attach an “answer” sheet with each written assignment, including case studies. I will also use a rubric to grade your participation in this course. I will grade and return the individual participation rubrics to you each week. There are two grading rubrics, therefore, that will be used in the course. These grading rubrics are posted separately. If you have questions about them, then please ask. In terms of APA, I expect all of you to use this method for citations and references. I require a cover sheet for all assignments and a reference page. These pages do not count toward the number of pages needed in an assignment. Case study assignments should be double spaced IAW APA standards, but the one and three page papers should...
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...International Journal of Contemporary Business Studies Vol: 2, No: 11. November, 2011 ISSN 2156-7506 Available online at http://www.akpinsight.webs.com Merger and Acquisitions (M&As) in the Indian Banking Sector in Post Liberalization Regime Dept. of Commerce, AMU, Aligarh India Azeem Ahmad Khan ABSTRACT The purpose of this paper is to explore various motivations of Merger and Acquisitions in the Indian banking sector. This includes the various aspects of banking Industry’s Merger and Acquisitions. It also compares pre and post merger financial performance of merged banks with the help of financial parameters like Gross-Profit Margin, Net- Profit Margin, Operating Profit Margin, Return on Capital Employed (ROCE), Return on Equity (ROE) and Debt-Equity Ratio. Through literature review it comes to know that most of the work done high lightened the impact of Merger and Acquisitions on different aspects of the companies. The data of Merger and Acquisitions since economic liberalization are collected for a set of various financial parameters. This study also examines the changes occurring in the acquiring firms on the basis of financial ground and also the overall impact of Merger and acquisitions (M&As) on acquiring banks. The Researcher used independent t-test for testing the statistical significance and this test is applied not only for the ratio analysis but also to test the effect of Merger and Acquisitions on the performance of banks. This performance is being tested...
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...September 2003 447-461 http://www.nova.edu/ssss/QR/QR8-3/mccaslin.pdf The Five-Question Method For Framing A Qualitative Research Study Mark L. McCaslin University of Idaho, Idaho Falls, Idaho, USA Karen Wilson Scott University of Idaho, Idaho Falls, Idaho, USA The Five-Question Method is an approach to framing Qualitative Research, focusing on the methodologies of five of the major traditions in qualitative research: biography, ethnography, phenomenology, grounded theory, and case study. Asking Five Questions, novice researchers select a methodology appropriate to the desired perspective on the selected topic. The Method facilitates identifying and writing a Problem Statement. Through taking a future perspective, the researcher discovers the importance and direction of the study and composes a Purpose Statement. The process develops an overarching research question integrating the purpose and the research problem. The role of the researcher and management of assumptions and biases is discussed. The Five-Question Method simplifies the framing process promoting quality in qualitative research design. A course outline is appended. Key words: Qualitative Research, Five-Question Method, Biography Research, Phenomenology Research, Grounded Theory Research, Case Study Research, and Ethnography Research Introduction Planning a qualitative study for the first time tends to be an intimidating venture for graduate students just entering the field. Even armed with a topic of interest...
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...Name: Student ID: Answer of Case Study 1: as a Regional Manager my final option to solve this problem which will in turn achieve the organization objective, maximizing the long term return and customer satisfaction, will be option (5). Below is my analysis in reaching this decision. The first step I will implement is identifying the exciting problem, which in this case is the potential of losing a big customer due to the personal differences between the customer and sale representative and this will be a big lose to my company. Then I will list possible alternatives that can solve this problem. As per the options available in this case the first three options can be eliminated because they will not solve the problem reasonably. They either will have a negative impact on my employees or I will lose my customer which in both cases will decrease the company’s return. Finding another sales representative in the same region to deal with this customer can be another solution. However, it might not be achievable because it is not in the list of options available in this case and there might be only one representative in each region. So, the remaining best alternative could be either 4 or 5. First, as a manager I will try to get the sale representative and the customer and try to solve the problem with them. However, this option might not solve the problem because the real problem is the personal differences which can not be changed. In this case the best solution could be move...
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...statements prepared in accordance with US GAAP, however differences between US GAAP and IFRS will be outlined and examined. The class will be taught using a combination of lectures, class discussions and real-world case studies. In order to maximize our time together, students are expected to read the assigned chapters and complete the case studies on time. Given the brevity of the course and lecture time, students are encouraged to email me directly with questions at any time. Required Materials Textbook: Financial Statement Analysis & Valuation, (3rd Edition), By Easton, McAnally, Sommers & Zhang, Cambridge Business Publishers, 2013. ISBN: 978-1-61853-009-7 Case studies will be provided on TLE. Grading Schedule Class Participation/Case Work: Individual Project: Mid-Term/Exam 1: Final Exam: 20% 30% 20% 30% Grading Expectations Class Participation/Case Work: Each student should be prepared to discuss the required readings. To satisfy the requirements of class participation, students will be required to answer direct questions from the instructor and must actively participate in group discussions. 1|Page Case Work assignments must be turned in by the due-dates listed below. Late assignments will not be accepted. Please bring two copies of the completed cases to class (one for discussion, one to turn in). Individual Project: The specific requirements for the individual project will be outlined in greater detail on TLE. Students must select a non-financial, non-biotechnology...
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...334208 40 hours spent Raphael Spaans 348823 40 hours spent Bart-Floris Lensink 358102 40 hours spent Date of submission: May 6th, 2014 “This document is written by Thomas de Vries, Raphael Spaans, and Bart-Floris Lensink, who declare that each individual takes responsibility for the full contents of the whole document. We declare that the text and the work presented in this document is original and that no sources other than mentioned in the text and its references have been used in creating it. RSM is only responsible for supervision of completion of the work but not for the contents.” Table of content Abstract 3 Introduction 4 Theory 5 Current study 7 Effect sizes and confidence intervals 7 Research strategy 8 Populations and measurements 8 Populations 8 Practical relevance of the effect sizes 11 Critical Synthesis 13 Selection of studies 13 Critical evaluation of studies 13 Results and Discussion 14 An attempt at best practice 19 Introduction 19 Methods 19 Research strategy 19 Independent variable 19 Dependent variable 20 Results 21 Control variables 22 Worst case analysis 24 Discussion 24 Appendices 26 Appendix A 26 Appendix B 30 References 31 Sources for data of our control variables 31 Websites 31 Lectures and sheets 31 Scientific articles 31 Abstract The crisis at the end of the last decade made us think about the financial markets and if we could have been able to foresee this crisis. There are...
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