scholarly journals Is high-quality knowledge always beneficial? Knowledge overlap and innovation performance in technological mergers and acquisitions

2016 ◽  
Vol 24 (2) ◽  
pp. 258-278 ◽  
Author(s):  
John Han ◽  
Gil S. Jo ◽  
Jina Kang
Keyword(s):  
Mergers And Acquisitions ◽  
Innovation Performance ◽  
Target Firm ◽  
High Quality ◽  
Data Set ◽  
Technology Firms ◽  
Target Firms ◽  
High Technology Firms ◽  
Positive Effect

AbstractThis research analyses the effects of the knowledge overlap between acquirer and target firms on the performance of technological mergers and acquisitions (M&As). Extending previous research that has focused on the quantitative characteristics of knowledge, this research introduces a framework capturing the effects of both the quantity and quality of knowledge in overlapped and nonoverlapped parts of the knowledge base on subsequent innovation performance. Analyzing a data set of 192 technological M&As of 162 high-technology firms from 2001 to 2009, the results show that a high quality of overlapped knowledge has a positive effect on subsequent innovation performance, while the effect is negative for nonoverlapped knowledge quality. In addition, this research investigates the influence of the knowledge quantity on subsequent innovation performance. The implication of this research is that the knowledge overlap in technological M&As is essential for acquiring high-quality knowledge from the target firm and for improving innovation performance.

scholarly journals Changes in quality parameters of vodka filtered through activated charcoal

2012 ◽  
Vol 30 (No. 5) ◽  
pp. 474-482 ◽  
Author(s):  
L. Siříšťová ◽  
Š. Přinosilová ◽  
K. Riddellová ◽  
J. Hajšlová ◽  
K. Melzoch
Keyword(s):  
Production Technology ◽  
Sensory Analysis ◽  
Activated Charcoal ◽  
Quality Parameters ◽  
High Quality ◽  
Flow Rates ◽  
Positive Effect ◽  
Filtration Device

The production technology of high-quality vodka used in Russia involves filtration through activated charcoal. To approach the quality of renowned Russian vodka, one prominent Czech spirit-producing company installed on its production premises a filtration device including a charcoal column, and launched test runs during which different filtration conditions were tested. Samples collected during the test runs were analysed by GC-FID and GC-MS with the aim to compare their composition; sensory analysis was an integral part of the evaluation. The results documented a positive effect of charcoal filtration on the quality of produced vodka, which was not reduced when higher flow rates were applied.  

scholarly journals Testing the validity of regional detail in global analyses of Sea surface temperature – the case of Chinese coastal waters

2018 ◽  
Author(s):  
Yan Li ◽  
Hans von Storch ◽  
Qingyyuan Wang ◽  
Qingliang Zhou
Keyword(s):  
Quality Data ◽  
Careful Examination ◽  
Local Data ◽  
High Quality ◽  
Data Set ◽  
Time Period ◽  
Chinese Coast ◽  
Local Quality ◽  
Break Points

Abstract. We have designed a method for testing the quality of multidecadal analyses of SST in regional seas by using a set of high-quality local SST observations. In recognizing that local data may reflect local effects, we focus on dominant EOFs of the local data and of the localized data of the analyses. We examine patterns, and the variability as well as the trends of the principal components. This method is applied to examine four different SST analyses, namely HadISST1, ERSST, COBE SST, and NOAA OISST. They are assessed using a newly constructed high-quality data set of SST at 26 coastal stations along the Chinese coast in 1960–2015 which underwent careful examination with respect to quality, and a number of corrections of inhomogeneities. The four gridded analyses perform by and large well, in particular since 1980. However, for the pre-satellite time period, before 1980, the analyses differ among each other and show some inconsistencies with the local data, such as artificial break points, periods of bias and differences in trends. We conclude that gridded SST-analyses need improvement in the pre-satellite time (prior to 1980s), by re-examining in detail archives of local quality-controlled SST data in many data-sparse regions of the world.

scholarly journals Initial MST radar observations of upper tropospheric-lower stratospheric duct-like structures over Jicamarca, Peru

2012 ◽  
Vol 12 (22) ◽  
pp. 11085-11093 ◽  
Author(s):  
Z. Li ◽  
S. Naqvi ◽  
A. J. Gerrard ◽  
J. L. Chau ◽  
Y. Bhattacharya
Keyword(s):  
Gravity Waves ◽  
Lower Stratosphere ◽  
Physical Nature ◽  
High Quality ◽  
Data Set ◽  
Upper Troposphere ◽  
Atmospheric Fronts ◽  
Mst Radar ◽  
Wind Measurements

Abstract. Persistent wind jet structures along zonal and meridional fields, believed to be caused by stationary gravity waves, were detected in February 1999 in mesosphere-stratosphere-troposphere (MST) radar wind measurements of the troposphere and lower stratosphere over Jicamarca, Peru. Over a continuous seven day span of MST-data analyzed in this study, two days of observations showed signatures of wave-like structures in the upper troposphere/lower stratosphere wind jets associated with the phases of the stationary gravity waves. We believe these wave-like structures are ducted gravity waves. We present these initial observations, their characteristics, and the results of simple numerical simulations used in an attempt to mimic these observed features. Although a fair replication of the observed ducted structure in the numerical model is found, the observed period of ~90 min is nonetheless much longer than what is traditionally observed. As a result, the specific physical nature of the observed structures is not fully established. Nevertheless, given the high quality of the observations, we demonstrate here that continued analysis of this data set and concurrent modeling efforts will allow for a better understanding of Doppler ducts at high spatial and temporal resolution, and the results presented here can ultimately be applied to studies of middle atmospheric fronts, ducts, and bores.

Focusing the High-Technology Firm: How Outsourcing Affects Technological Knowledge Exploration

2016 ◽  
Vol 44 (5) ◽  
pp. 1736-1765 ◽  
Author(s):  
Niron Hashai
Keyword(s):  
Panel Data ◽  
Empirical Analysis ◽  
High Technology ◽  
Technological Knowledge ◽  
Data Set ◽  
Technology Firms ◽  
High Technology Firms ◽  
Knowledge Exploration

This study argues and shows that the extent to which high-technology firms focus efforts by outsourcing production, assembly, and logistics activities enhances the extent of technological knowledge exploration. This occurs through three modalities: (1) intensifying the effect of internal R&D efforts on exploration; (2) intensifying the effect of learning from competing partners, through R&D alliances, on exploration; and (3) intensifying the effect of learning from customers on exploration. Empirical analysis of a panel data set of Israeli high-technology firms supports the view that the combination of these three modalities is associated with greater exploration of new technological knowledge.

scholarly journals Quality of semen of young boars of the breeds Pietrain and Duroc and their reciprocal crosses

2008 ◽  
Vol 51 (1) ◽  
pp. 42-54 ◽  
Author(s):  
M. Kawęcka ◽  
A. Pietruszka ◽  
E. Jacyno ◽  
R. Czarnecki ◽  
M. Kamyczek
Keyword(s):  
Morphological Changes ◽  
Detailed Examination ◽  
Resistance Test ◽  
Osmotic Resistance ◽  
High Quality ◽  
Reciprocal Crosses ◽  
Reciprocal Crossing ◽  
Young Boars ◽  
Positive Effect

Abstract. The study concerned examination of 120 of young Pietrain and Duroc boars and hybrids descending from reciprocal crossing of those breeds. On 230th, 250th and 270th day of their lives, their sperm was given a detailed examination. It is assessed that Pietrain boars gave ejaculates of the lowest volume, lowest mobility, and the lowest total number of spermatozoa. Semen of boars of this group had also the highest percentage of spermatozoa with major and minor morphological changes, and defected acrosome. Along with the age of boars (from 230th to 270th day of life) there was a significant improvement of quality of semen of all of the groups except the semen of Pietrain boars. We detected the positive effect of crossing especially in hybrids boars descending from mating of Duroc fathers and Pietrain mothers. Even during the first evaluation, they gave the semen of the highest total number of normal sperms, with normal acrosome, and with the highest value of osmotic resistance test and the lowest activity of AspAT in semen plasma. That proves the high quality of ejaculates of those hybrids comparing to the ejaculates of the boars of other groups – purebreds as well as hybrids of the opposite combination, i.e. descending from crossing of Pietrain fathers and Duroc mothers. This conclusion suggests to use Duroc fathers and Pietrain mothers in production of hybrid boars.

scholarly journals The Urge to Merge: The Role of Governance Structures in Mergers and Acquisitions

1970 ◽  
Vol 13 (2) ◽  
pp. 151-166
Author(s):  
Catherine Daily ◽  
Dan Dalton
Keyword(s):  
Decision Making ◽  
Mergers And Acquisitions ◽  
Board Of Directors ◽  
Board Composition ◽  
Outside Directors ◽  
Target Firm ◽  
Target Firms ◽  
The Board Of Directors ◽  
The Relationship

The 1990s have witnessed merger and acquisition activity which rivals that of the 1980s "merger mania." As firms continue to consolidate either within industries or across industries it is appropriate to investigate those aspects of a target firm which might attract a bidder. The board of directors, a central decision-making body in the corporation, may provide insights into this process. This study investigates the relationship between board composition and size and the incidence of a firm being targeted for a merger or acquisition. Results of a logistic regression analysis of a matched set of target firms and firms not targeted for merger or acquisition reveal that target firms have higher proportions of independent outside directors and more total numbers of directors. Moreover, we find that target firms have greater exposure to institutional investors.

scholarly journals Earnings Management Of Mergers And Acquisitions Of Target Candidates And Deal Withdrawn

2017 ◽  
Vol 33 (3) ◽  
pp. 467-474
Author(s):  
Joo-hyun Lim ◽  
Jin-ho Chang
Keyword(s):  
Mergers And Acquisitions ◽  
South Korea ◽  
Earnings Management ◽  
Financial Reporting ◽  
Reporting Quality ◽  
Financial Reporting Quality ◽  
Accruals Quality ◽  
Target Firms ◽  
Transaction Value

In this paper, we investigate the tendencies of target candidate companies to manage earnings, which affects financial reporting quality, in order to increase transaction value, and the withdrawal of deals as a result of low financial reporting quality in M&A in a sample of 316 mergers and acquisitions in South Korea between 2002 and 2011. Using the accruals quality measure developed by Dechow and Dichev (2002) as a proxy for financial reporting quality, we find the following. First, the financial reporting quality of target candidate firms is lower than that of non-target candidate firms because target candidate firms engage in earnings management prior to M&A. Second, low-quality financial reporting of target firms is positively related to the likelihood of deal withdrawal as a result of poor financial reporting quality.

The Public Procurement and the Quality of Services: The Case of Moscow Hospitals

2020 ◽  
pp. 118-131
Author(s):  
Margarita  V. Kravtsova
Keyword(s):  
Public Procurement ◽  
Medical Services ◽  
Key Factors ◽  
High Quality ◽  
Factors Affecting ◽  
The Public ◽  
Goods And Services ◽  
The Difference ◽  
Positive Effect

The work is devoted to the search for answers to the question: “Are there any differences in the public procurement of customers who provide services of different quality?”. The article identifies the stages of the hospital procurement process in the contract system and highlights the main customer strategies used in the auction. The results of an independent quality assessment are examined and comparative hospital characteristics with low and high quality rating are conducted. The hospital needs according to the types of purchases and their annual volumes of contracts are analyzed. The advantages of competitive procedures are determined and the key factors affecting the level of competition with possible risks of unreliable execution of contracts are identified. The empirical study is based on the database which includes 5390 contracts of 2 hospitals in Moscow for years of 2011–2017. Using the methods of econometric analysis, in particular, the method of least squares and the difference in the average, the hypothesis is tested the high competition has a positive effect on the quality of medical services. The constructed regression models show that the customer providing high quality services has low competition and small rebates at the auction. At the same time there are more contract terms, delays in the supply of goods and services as compared with the customer providing low quality services. Thus it was found that the underestimation of competition at the auction indicates the desire of the hospital to guarantee a higher quality of medical services to patients while as aggressive bids of participants lead to the supply of poor purchases. The results of the study may be useful for the competent authorities in the development of legal acts for the participants of the contract system in the field of health procurement.

Does Innovation Cause Stock Market Runups? Evidence from the Great Crash

2008 ◽  
Vol 98 (4) ◽  
pp. 1370-1396 ◽  
Author(s):  
Tom Nicholas
Keyword(s):  
Stock Market ◽  
High Technology ◽  
Physical Capital ◽  
Knowledge Capital ◽  
Significant Excess ◽  
Technology Firms ◽  
High Technology Firms ◽  
Great Crash ◽  
Crash Recovery

This article examines the stock market's changing valuation of corporate patentable assets between 1910 and 1939. It shows that the value of knowledge capital increased significantly during the 1920s compared to the 1910s as investors responded to the quality of technological inventions. Innovation was an important driver of the late 1920s stock market runup, and the Great Crash did not reflect a significant revaluation of knowledge capital relative to physical capital. Although substantial quantities of influential patents were accumulated during the post-crash recovery, high technology firms did not earn significant excess returns over low technology firms for most of the 1930s. (JEL G14, N12, N22, O30)

Trading places: innovation and performance go head-to-head

2014 ◽  
Vol 30 (6) ◽  
pp. 14-16
Keyword(s):  
Product Innovation ◽  
Business Performance ◽  
Innovation Performance ◽  
Data Set ◽  
Content Type ◽  
Technology Firms ◽  
Trade Offs ◽  
Pertinent Information ◽  
And Performance ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds his own impartial comments and places the articles in context. Findings – This briefing examines the trade-offs that take place between product innovation performance and business performance. It leverages a data set of 99 medium-sized technology firms in Sweden and considers the variables that affect these trade-offs. The paper suggests that while product innovation performance is positively related to the sales of the firm, the links with profitability are rather less proven. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and an easy-to-digest format.

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