Development of ecologically meaningful, multiple-species conservation strategies under the California and U.S. Endangered Species Acts

The California and U.S. Endangered Species Acts prohibit take of protected species, but allow for authorization of take incidental to otherwise lawful activities provided the take is minimized and mitigated. Incomplete and inconsistent ecological information can limit the contribution of mitigation plans for incidental take, especially those for multiple species, to species persistence. Many such plans focus on acquisition and management of coarse-resolution land-cover or land-use types. These classifications may not coincide with a species’ resource requirements (its habitat) or the greatest constraints to its viability. Complementing acquisition with rigorous research on population biology, stressors, and habitat use and quality may be much more effective than preservation of putative but unproven habitat. Such adaptive conservation can be applied to species with restricted or extensive distributions. When the distribution and ecology of geographically restricted species are well-known, then connectivity analyses, sometimes complemented by spatially explicit, mechanistic population models, may inform habitat acquisition and management. When little information exists on the ecology or vital rates of a restricted species, we suggest assessment of occupancy, habitat use, or demography; tracking individuals’ movements; and evaluation of habitat quality. Acquisition and management of local lands that may not serve as habitat is unlikely to contribute to conservation of extensively distributed species with range-wide declines. Instead, we suggest that conservation efforts for these species emphasize strategic acquisition of open space (large, undeveloped areas that are more likely to serve as high-quality habitat), potentially in locations distant from the permit area. The above areas of research can inform optimization of conservation locations. Many mitigation decisions are based on assumptions drawn from limited data. Inclusion of scientific research in development and implementation of mitigation plans for incidental take can strengthen the plans’ information content, improve the ecological success acquisition and management, and advance conservation of protected species.

Exploring the Link of Real Options Theory with Dynamic Capabilities Framework in Open Innovation-Type Merger and Acquisition Deals

Although it is well established that acquisition-based dynamic capabilities have important consequences for merger and acquisition (M&A) processes, direct evidence on how real option applications can measure a dynamic capability-based synergy in open innovation-type M&A deals has been scarce. This study draws from seminal research on real options theory to explore some of these benefits and limits to value a synergy in one recent highly strategic acquisition. To strengthen the identification of causal effects, the paper develops the proposition that justifies the role of dynamic capabilities as antecedents of the success of open innovation-type M&A deals in the ICT industry and demonstrates real options’ application to measure M&A synergies. To test the internal and external validity of the proposition, the explorative case study on Samsung’s acquisition of Harman International Industries was analyzed and interpreted. This study contributes important empirical evidence to bear on the literature on open innovation theory, dynamic capabilities framework, and real options theory.

STRATEGI PENYELAMATAN ARSIP STATIS PANDEMI COVID-19 SEBAGAI MEMORI KOLEKTIF BANGSA OLEH LEMBAGA KEARSIPAN

The phenomenon of political, social, economic, and cultural life in Indonesia in the figth against the pandemic COVID-19 leaves historical records in various forms and media (paper, maps, pictures, infographics, photos, audio, video, and digital) called COVID-19 pandemic archives. The COVID-19 pandemic archives is crucial for historical evidence, sources of knowledge, continuous innovation, and material for national liability for the life of society, nation and state. The archival institution as a static archival management institution in Indonesia as mandated Law of Number of 43 of 2009 on Archival has the responsibility of saving the COVID-19 pandemic archives produced by state institutions, regional governments, companies, political organizations, social organizations, and individuals as nation's collective memory. The study of saving the COVID-19 pandemic archives aims to examine the problem of the right strategy for archival institutions in saving the COVID-19 pandemic archives as the nation's collective memory. The analysis result showed that the strategy of saving the COVID-19 pandemic archives as a collective memory was carried out through policy making, applying strategic acquisition methods and documentation strategies, optimizing resources, and increasing COVID-19 pandemic archives access.

Mexico

This chapter studies the growth in U.S. dual nationality in Mexico, and specifically the phenomenon of strategic cross-border births. This involves middle- and upper-class Mexican parents who travel to the United States to give birth, aiming to secure U.S. citizenship for their children. The families who engage in this practice typically have little interest in emigrating. Instead, they mainly view the United States as a site of high-prestige consumption and wish to provide their children with easy access to tourism, shopping, and education across the border. The American passport is also an insurance policy that allows easy exit at times of insecurity in Mexico. This strategic acquisition of U.S. dual nationality by upper-class Mexicans can be juxtaposed with another recent trend: the deportation of hundreds of thousands of Mexican undocumented immigrants, who take their U.S.-born children with them to Mexico. For the former group, dual nationality is voluntary and practical; for the latter, it is an imposed disadvantage.

Introduction

This introductory chapter provides an overview of the rise of dual citizenship. For most of the twentieth century, citizenship was an exclusive bond between an individual and a state. Countries refused to share their citizens with other countries just like they do not share their territories. Since the 1990s, however, the principle of exclusive citizenship has been abandoned, and dozens of countries moved to permit dual citizenship. Today, toleration of multiple citizenship has become the norm, and tens of millions of persons around the world hold citizenship in two—sometimes even three or four—countries. The legitimation and proliferation of multiple citizenships is creating new realities on the ground, reshaping patterns of international migration, political participation, global security, and ethnic relations. Previous studies mostly examined dual citizenship in the context of immigration to Western Europe and North America. This book focuses instead on the strategic acquisition of dual citizenship by nonimmigrants from outside the West. Once one shifts the empirical focus, a crucial but overlooked aspect comes into sharp relief: the disparity in the value of the “citizenship packages” that different countries offer, and the tremendous practical usefulness that a second citizenship from a more developed country may provide.

Corporate governance dynamics and wealth effects: evidence from large loss acquisitions and large gain acquisitions in the USA

PurposeWhen major reallocations of the firm’s assets are strategically necessary, the corporation’s decision system is perhaps put to its severest test. This paper aims to argue that a relevant balance in the corporate governance structure is highly important to assure those strategic decisions taken are successful and economically beneficial to shareholders’ wealth.Design/methodology/approachThis study examines US firms making major acquisitions resulting in large losses or large gains and identify weaknesses and strengths in their respective governance structures.FindingsFirms making large loss acquisitions demonstrate a balance in the corporate governance structure that heavily favors the CEO. Firms making large gain acquisitions present a more efficient balance in the configuration their corporate governance dynamics. Finally, the authors present evidence that making a major acquisition triggers rebalancing of the corporate governance dynamics to increase the effectiveness of monitoring the implementation of the acquisition. The authors find firms making large loss acquisitions make more extensive changes in the professional expertise on their boards.Originality/valueThis study provides a broad understanding of the role of corporate governance by examining overall governance dynamics and offers how one corporate governance structure does not fit all firms, at all times, in all circumstances. Instead, timely imbalances within the configurations of corporate governance dynamics over the major strategic acquisition process can be consistent with the goal of increasing shareholders’ wealth.

Kmart, Sears, and ESL: How a Hedge Fund Became One of the World's Largest Retailers

Within 18 months of exiting bankruptcy, Kmart's position was sufficiently strong to launch an acquisition of Sears, once the nation's largest retailer and also a core holding of ESL. Looks at a number of compelling issues related to Kmart's bankruptcy, restructuring, and rebirth under the control of ESL, a large hedge fund. Presents some of the key metrics that Eddie Lampert, head of ESL, had available to him as he made two decisions: first, in 2002, to amass a controlling stake in Kmart's defaulted debt during the restructuring; and second, in 2004, to launch a takeover of Sears. The first deal illustrates the decision-making process for a financial buyer, including the downside protection of Kmart's real estate holdings, whereas the second deal represents a traditional strategic acquisition. Illustrates the innovative use of real estate as a “hedge” for ESL in the event that the retail combination does not produce the required financial results. Also focuses on the role of investment bankers and the increasingly important position that hedge funds and LBO funds have carved out in the M&A market.To outline the explosive growth in assets and influence of alternative investment managers, particularly LBO funds and hedge funds, and the transition of some larger hedge funds from shorter term trading strategies to longer term plays on distressed debt, restructurings, and turnarounds.