scholarly journals Bank Acquisition Announcements And Intra-Industry Effects

Author(s):  
Yvette M. Bendeck ◽  
Edward R. Waller

<p class="MsoBodyTextIndent2" style="text-align: justify; line-height: normal; text-indent: 0in; margin: 0in 34.2pt 0pt 0.5in;"><span style="font-size: 10pt; mso-bidi-font-style: italic;"><span style="font-family: Times New Roman;">In this paper we attempt to assess whether gains in wealth associated with bank consolidation are the result of economic efficiencies by analyzing effects of bank merger announcements on the values of bidders, targets, and rival banks in the target&rsquo;s geographical area.<span style="mso-spacerun: yes;">&nbsp; </span>We find target banks earn positive returns, while bidding banks sustain negative returns at acquisition announcement. These findings are consistent with previously reported results in the bank consolidation literature.<span style="mso-spacerun: yes;">&nbsp; </span>We also find rival banks earn positive returns that are enhanced when the target bank is in distress. We suggest the results are consistent with the view that investors interpret acquisition announcements as positive, geographically specific signals that may, in turn, reflect event-specific or bank-specific characteristics rather than expectations of increased efficiencies.</span></span></p>

Revista GESTO ◽  
2014 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Mairo Luiz Madalozzo Vencato ◽  
Augusto José Pinto Souto

<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0cm 0cm 0pt; line-height: normal; text-indent: 0cm;" class="MsoNormal"><span style="font-family: &quot;Times New Roman&quot;,&quot;serif&quot;; font-size: 12pt;">Este artigo envolve o tema sobre a classificação e qualidade da matéria-prima couro na empresa Gobba Leather Indústria e Comércio Ltda. Os objetivos são analisar o processo interno de classificação e as medições da qualidade como ocorrem na empresa. Justifica-se este escrito pela relevância econômica e social da empresa, no seu ramo de atuação desde 1915, sendo esta empresa fortemente influenciadora do Produto Interno Bruto do município de Nova Esperança do Sul, no Vale do Jaguari - RS, além dos produtos da empresa serem exportados para os cinco continentes do mundo. O problema de pesquisa visa verificar como se procede na classificação da matéria-prima couro e como são os controles de qualidade da empresa? A metodologia adotada apresenta características quali-quantitativa, de abordagem exploratória descritiva. Sendo um levantamento bibliográfico com pesquisa documental e na forma de estudo de caso. Formulou-se um questionário estruturado com respostas nas escalas de sensibilidade e aplicados na população de vinte colaboradores ligados diretamente ao processo operacional. Conclui-se que a empresa trabalha satisfatóriamente em relação à classificação e qualidade da matéria-prima couro. Como aperfeiçoamento sugere-se melhorias na forma parcial de plano de ação, entre elas, sugere-se o uso da ferramenta FMECA (Failure Mode, Effect and Criticality Analysis), os conceitos de classificação de Perfetti (2004) e monitoramento das imperfeições no couro de Georgieva <em style="mso-bidi-font-style: normal;">et. al.</em>(2004), reduzindo às perdas na matéria-prima.</span></p><span style="font-family: Times New Roman; font-size: small;"> </span>


Author(s):  
Cláudio Pondé Avena

<span style="font: 13px/normal verdana, arial; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; background-color: #ffffff;">Este artigo apresenta uma metodologia inovadora para estimação da demanda por educação. Além disso, ele estima, em seção transversal, as demandas agregadas pelos cursos existentes na UFBa a partir da base de dados do Vestibular para os anos de 1993 a 2001(exceto os anos de 1996, 1999 e 2000). Para isto, desenvolvem-se modelos de estimação do custo de oportunidade e de renda vitalícia do aluno. Esta última pode ser interpretada como o estoque de capital humano do indivíduo com educação superior na Região Metropolitana de Salvador. Os modelos estimados apresentam um poder de explicação excepcionalmente alto, com especial destaque para a renda vitalícia, que explica mais de 80% da variabilidade da demanda. Isto demonstra a viabilidade de se utilizar o número de matrículas como<span class="Apple-converted-space"> </span></span><em style="color: #000000; text-transform: none; line-height: normal; text-indent: 0px; letter-spacing: normal; font-family: verdana, arial; font-size: 13px; font-variant: normal; font-weight: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff;">proxy</em><span style="font: 13px/normal verdana, arial; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; background-color: #ffffff;">para o estoque de capital humano em modelos de crescimento econômico, como é usual na literatura de<span class="Apple-converted-space"> </span></span><em style="color: #000000; text-transform: none; line-height: normal; text-indent: 0px; letter-spacing: normal; font-family: verdana, arial; font-size: 13px; font-variant: normal; font-weight: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff;">growth</em><span style="font: 13px/normal verdana, arial; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; background-color: #ffffff;"><span class="Apple-converted-space"> </span></span><em style="color: #000000; text-transform: none; line-height: normal; text-indent: 0px; letter-spacing: normal; font-family: verdana, arial; font-size: 13px; font-variant: normal; font-weight: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff;">accounting</em><span style="font: 13px/normal verdana, arial; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; background-color: #ffffff;">. Outros resultados são apresentados, como as elasticidades da demanda e a taxa marginal de substituição entre o custo de oportunidade e a renda vitalícia.</span>


2011 ◽  
Vol 19 (2) ◽  
Author(s):  
Toni Powell

<p class="MsoBodyTextIndent" style="text-align: justify; line-height: normal; text-indent: 0in; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt; mso-bidi-font-size: 11.0pt; mso-bidi-font-style: italic;"><span style="font-family: Times New Roman;">This study examined the cultures of two organizational departments and the relationship between their cultural norms and the effectiveness of their departmental information sharing systems. The findings indicated that (1) the two departments, described for the purpose of this study as &ldquo;sub-cultures,&rdquo; had developed conflicting norms which appeared linked to their departmental information sharing effectiveness; (2) during an organizational change process that involved rotation of department managers, workers underwent a three-stage change process identified as unlearning-boundary spanning-re-framing, similar to Lewin&rsquo;s unfreezing model.<span style="mso-spacerun: yes;">&nbsp; </span>These findings suggest that (1) department managers can play a major role in the learning and development of employees and should be supported in doing so; and (2) the organization consider a more holistic structure, where common language and mental models could alleviate and possibly eliminate the confusion and misinformation resulting from organizational sub-cultures. </span></span></p>


Author(s):  
Alyne Sehnem
Keyword(s):  

<p class="TCC-C5" style="line-height: normal; text-indent: 0cm; margin: 0cm 0cm 0pt;"><span style="mso-bidi-font-size: 12.0pt;"><span style="font-size: small;"><span style="font-family: Times New Roman;">A Lei de Responsabilidade Fiscal objetivou a normatização das finanças públicas voltadas para a responsabilidade na gestão fiscal. Este estudo teve como objetivo analisar a reação das contas das prefeituras do Estado de Santa Catarina com a aprovação da Lei de Responsabilidade Fiscal, no ano 2000. Para tanto utilizou-se os dados disponibilizados pelo Tribunal de Contas do Estado catarinense no período compreendido entre os anos de 1992 a 2006. Com os resultados da pesquisa pôde-se constatar que a Lei de Responsabilidade Fiscal, teve efeitos significativos sobre as contas apresentadas pelos municípios catarinenses. O ano da aprovação da Lei pode ser considerado um ano anormal na apresentação dessas contas, uma vez que houve expressivo número de contas rejeitadas.</span></span></span></p>


Author(s):  
Joseph N. Khamalah ◽  
B.P. Lingaraj

<p class="MsoBodyTextIndent3" style="line-height: normal; text-indent: 0in; margin: 0in 0.5in 0pt; mso-hyphenate: auto;"><span style="font-size: 10pt; mso-bidi-font-style: italic; mso-bidi-font-size: 12.0pt;"><span style="font-family: Times New Roman;">This paper reports on a study of managerial perceptions of the implementation of total quality management (TQM). Results of a survey covering small firms in northeastern Indiana providing services directed at people are presented. Aspects discussed include the unique nature of this category of service firms, TQM deployment, tools used, successes, failures, benefits, and problems encountered. The majority of respondents indicated their firms&rsquo; commitment to TQM but a significantly smaller proportion demonstrated notable engagement with and actual implementation of a formal TQM program. Even smaller percentages had benchmarked internal quality standards, used TQM tools and quality-enhancing activities, rewarded employees for successful quality performance, and involved suppliers in their quality programs. Strategic implications of these findings are considered.</span></span></p>


Author(s):  
Sardar M. R. K. Al- Jumur ◽  
Shahab Wahhab Kareem ◽  
Raghad Z. Yousif

<span>One of the most significant and daunting activities in today's world is temperature prediction. The meteorologists traditionally predict temperature via some statistical models aimed to forecast the fluctuations that might have happened to atmospheric parameters such as temperature, humidity, etc. The main objective of this paper is to build an intelligent temperature prediction model of Erbil city in KRG/ Iraq based on a historical dataset from 1992 to 2016 in each year there are twelve months’ average temperature readings from (January to December). Hence to resolve this prediction problem an up-to-date deep learning neural network has been used, the network model is based on <span id="docs-internal-guid-850bd062-7fff-c6c8-9146-ba6427eb24e0" style="font-size: 9pt; font-family: 'Times New Roman'; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">long short-term memory</span> (LSTM) as an artificial recurrent neural network (RNN) architecture which employed to estimate the future average temperature. The implementing model uses the dataset from real-time 30 weather stations deployed in the area of the city. The prediction performance of the proposed recurrent neural network model has been compared with some state of art algorithms like Adeline neural network, Autoregressive neural network (NAR), and <span id="docs-internal-guid-14d37b98-7fff-0f76-848f-ad9f89224f77" style="font-size: 9pt; font-family: 'Times New Roman'; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> generalized regression neural network</span> (GRNN). The results show that the proposed model based on deep learning gives minimum prediction error.</span>


2011 ◽  
Vol 24 (4) ◽  
Author(s):  
W.A. De Villiers

<h2 style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-weight: normal; text-decoration: none; mso-bidi-font-size: 10.0pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; text-underline: none;"><span style="font-size: x-small;"><span style="font-family: Times New Roman;">The EFMD reports in their Survey Summary Service (2006) that the topic of &ldquo;The Learning Organisation&rdquo; ranked in that year as the second most enduring idea about strategy and business, out of ten ideas most likely to last at least another ten years. Management literature contains a considerable number of references to the learning organisation and its characteristics.<span style="mso-spacerun: yes;">&nbsp; </span>An instrument developed by Pedler, et al. (1991) to measure eleven characteristics of the learning organisation was used in the present study to measure the degree to which respondents considered their own organizations to conform to the eleven characteristics ascribed to the learning organisation. The aim of this paper is to report on the research and analyses being undertaken to better understand the factor structure and content of the construct, as well as the predictive and discriminatory validity of the same instrument. Item Analysis, Exploratory Factor Analysis and Confirmatory Factor Analysis were used for this purpose. The predictive/discriminatory validity of the instrument, which has been proved to be uni-dimensional, was investigated by means of One-way Analysis of Variance, Stepwise Discrimination Analysis and Discrimination Analysis. The results indicate that the instrument can adequately distinguish between respondents from different economic sectors and organisations as well as differentiate respondents in terms of some other variables. The study should be regarded as entirely applicable to the South African cultural and organizational environments.</span></span></span></h2>


Author(s):  
Stella Karagianni ◽  
Maria Pempetzoglou

<p class="MsoSubtitle" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-family: Times New Roman;"><span style="color: black; font-size: 10pt; font-weight: normal; text-decoration: none; text-underline: none;">This paper deploys the non-linear Granger causality methods in order to determine the causal relationship between national income and government expenditure in the European Union countries over the post-war time period. For this purpose, six alternative functional forms of Wagner&rsquo;s law have been adopted. The empirical results </span><span style="font-size: 10pt; font-weight: normal; text-decoration: none; text-underline: none;">indicate support for non-linear causality between income and government expenditure and they may prove useful theoretical and empirical research for the regulators and the policy makers. </span></span></p>


2011 ◽  
Vol 1 (1) ◽  
pp. 71
Author(s):  
Sacha Michael Stocklin

<p class="MsoNormal" style="margin: 0in 0.25in 0pt 0in; line-height: normal; text-align: justify; mso-margin-top-alt: auto;"><span style="font-family: 'Arial','sans-serif'; mso-ansi-language: EN-GB; mso-fareast-font-family: 'Times New Roman';" lang="EN-GB"><span style="font-size: small;">This article suggests that educational managers can have an influence through leadership by establishing certain moderators that integrate and shape the faculty into a solid team working towards a high performing organisation. The study looks at a case in China and draws suggestions that could be used in other similar settings. The conclusion is to make integration a crucial part of capacity building.</span></span></p><p class="MsoNormal" style="text-align: justify; line-height: normal; margin: 0in 0.25in 0pt; mso-margin-top-alt: auto;"> </p>


2011 ◽  
Vol 1 (1) ◽  
pp. 43 ◽  
Author(s):  
Sergio Bemposta Rosende ◽  
María José García García ◽  
Juan José Escribano Otero

<p class="MsoNormal" style="text-justify: inter-ideograph; margin: 0in 26.05pt 10pt 0in; line-height: normal; text-align: justify;"><span style="font-family: 'Arial','sans-serif'; mso-fareast-font-family: Calibri;"><span style="font-size: small;">In recent years, learning management systems (LMS) have become very popular in almost all traditional universities, generating a new learning strategy approach, mixing elements from both traditional and online learning: the blended learning or b-learning. How these new environments influence teaching activities and learning processes are the main topic of this paper.<span style="mso-spacerun: yes;">  </span>References about this subject are also analyzed, enriching them with the expertise and opinion of authors and other teachers. Finally, the students’ point of view is presented, through the results of a survey of Polytechnic School students at Universidad Europea de Madrid.</span></span></p><p>------</p><p class="MsoNormal" style="margin: 0in 26.05pt 10pt 0in; line-height: normal; text-align: justify;"><span style="font-family: 'Arial','sans-serif'; mso-fareast-font-family: Calibri; mso-ansi-language: ES-PR;" lang="ES-PR"><span style="font-size: small;"><strong><strong>El b-learning a examen: Ventajas, desventajas y opiniones</strong></strong></span></span></p><p class="MsoNormal" style="margin: 0in 26.05pt 10pt 0in; line-height: normal; text-align: justify;"><span style="font-family: 'Arial','sans-serif'; mso-fareast-font-family: Calibri; mso-ansi-language: ES-PR;" lang="ES-PR"><span style="font-size: small;"><strong>Resumen</strong></span></span></p><p class="MsoNormal" style="margin: 0in 26.05pt 10pt 0in; line-height: normal; text-align: justify;"><span style="font-family: 'Arial','sans-serif'; mso-fareast-font-family: Calibri; mso-ansi-language: ES-PR;" lang="ES-PR"><span style="font-size: small;">Desde hace ya varios años, han proliferado los espacios virtuales de enseñanza en la práctica totalidad de centros universitarios de enseñanza presencial, dando origen a una nueva modalidad de enseñanza que recoge elementos de la enseñanza presencial y de la enseñanza en línea: el blended learning o b-learning. La posible influencia de estos espacios en la actividad docente y en el proceso de aprendizaje es el objeto de este artículo. Se analizan referencias sobre el tema, enriqueciéndolas con la opinión y experiencia de los autores y su entorno laboral concreto. Finalmente, se presenta la opinión de los alumnos a través de los resultados de una encuesta realizada a un grupo de estudiantes de la Escuela Politécnica de la Universidad Europea de Madrid.</span></span></p>


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