Restructuring of the Banking Sector Through Merger: Case of Tunisian Banks

In the classical economy, the business is always looking for growth. It tries to protect itself against disappearance and to enter new markets to ensure its growth. It resorts to the merger or the takeover of local companies to more easily solve certain problems. Development today by M&A is the most popular mode. In the context of merger acquisition processes, and its relationship with organizational, process, strategic, economic, political and cultural factors, our paper is designed to study the impact of these various factors on the merger-acquisition.To understand these relationships, we used principal component analysis, ANOVA analysis and multiple regression. A questionnaire was designed on the basis of a documentary analysis leading to the collection of 80 observations, collected from functionaries in the Tunisian banking sector during the period 16 December to 6 January 2016.The results show that the various factors have a positive impact on the success of the merger acquisition operation. It should be noted that the organizational factor is the most influential factor on the acquisition merger process and the least influential economic factor.

A Radio View of the Bullet Cluster from 100 MHz to 9 GHz

<p>We investigate a sample of 10 massive galaxy clusters for diffuse synchrotron emission. The shortlisted clusters are drawn from a sample of clusters observed with the South Pole Telescope (SPT) shown to have high Sunyaev-Zeldovich (SZ) signals.They are analysed for diffuse emission from the results of the Australia Telescope Compact Array (ATCA) archival data reduction. The focus then is on the cluster with the most prominent diffuse emission - the Bullet cluster. We used the Murchison Widefield Array Commissioning Survey (MWACS) data in conjunction with the ATCA images to derive the spectral behaviour of the Bullet cluster from 0.118 GHz to 8.896 GHz. In particular, we study the spectral properties of the known radio halo and radio relic. We search for spectral bending of this diffuse emission as seen in other clusters like the Coma cluster, A2256, A521 and A3256. We detect the radio relic at all frequencies in the cluster periphery. Polarised flux is detected for the relic at all frequencies except at 1.344 GHz and as expected the percentage polarisation increases with frequency. Our spectral index values of -1.08 ± 0.02 and -1.74 ± 0.22 for 2 regions of the radio relic agreed with the literature. We detect spectral flattening for a region in the radio relic at 4.532 GHz. This is a common spectral characteristic for a radio galaxy. This suggests that the source could be a recently dead radio galaxy. We discuss a scenario in which a dead radio galaxy supplying seed electrons for reacceleration and a merger process providing the required energy for the diffuse radio relic. We detect the radio halo at all frequencies and we derive a spectral index of -2.11±0.03 using our ATCA flux measurements. Our individual flux measurements at 1.344 and 2.1 GHz agree with the literature. However, we get a steeper ATCA spectral index value for the radio halo as compared to the existing value in the literature. We observe spectral flattening of the radio halo in the Bullet cluster at low frequencies between 0.180 GHz and 1.3 GHz. This is similar to the spectral property of the halo in clusters like the Coma cluster, A521 and A3256.</p>

A Radio View of the Bullet Cluster from 100 MHz to 9 GHz

<p>We investigate a sample of 10 massive galaxy clusters for diffuse synchrotron emission. The shortlisted clusters are drawn from a sample of clusters observed with the South Pole Telescope (SPT) shown to have high Sunyaev-Zeldovich (SZ) signals.They are analysed for diffuse emission from the results of the Australia Telescope Compact Array (ATCA) archival data reduction. The focus then is on the cluster with the most prominent diffuse emission - the Bullet cluster. We used the Murchison Widefield Array Commissioning Survey (MWACS) data in conjunction with the ATCA images to derive the spectral behaviour of the Bullet cluster from 0.118 GHz to 8.896 GHz. In particular, we study the spectral properties of the known radio halo and radio relic. We search for spectral bending of this diffuse emission as seen in other clusters like the Coma cluster, A2256, A521 and A3256. We detect the radio relic at all frequencies in the cluster periphery. Polarised flux is detected for the relic at all frequencies except at 1.344 GHz and as expected the percentage polarisation increases with frequency. Our spectral index values of -1.08 ± 0.02 and -1.74 ± 0.22 for 2 regions of the radio relic agreed with the literature. We detect spectral flattening for a region in the radio relic at 4.532 GHz. This is a common spectral characteristic for a radio galaxy. This suggests that the source could be a recently dead radio galaxy. We discuss a scenario in which a dead radio galaxy supplying seed electrons for reacceleration and a merger process providing the required energy for the diffuse radio relic. We detect the radio halo at all frequencies and we derive a spectral index of -2.11±0.03 using our ATCA flux measurements. Our individual flux measurements at 1.344 and 2.1 GHz agree with the literature. However, we get a steeper ATCA spectral index value for the radio halo as compared to the existing value in the literature. We observe spectral flattening of the radio halo in the Bullet cluster at low frequencies between 0.180 GHz and 1.3 GHz. This is similar to the spectral property of the halo in clusters like the Coma cluster, A521 and A3256.</p>

Merger of Private Universities: Empirical Study STAI Become FAI of Muhammadiyah University Bandung

The number of private universities in Indonesia is more than universities in the most populous country in the world, but it is not accompanied by good quality. This research is an empirical study with a descriptive, qualitative research approach. Technical data collection through documents, and observations of the process of unification of STAI and Muhammadiyah University. The unification of these two institutions is in one foundation, namely Muhammadiyah. In this merger process, the Ministry of Education and Culture and the Ministry of Religion are involved. The Chairperson of the Association of Indonesian Private Universities strongly supports the merging of two or more universities to reduce the number, facilitate coaching, and improve the quality of higher education. The first merger process was carried out by the Ministry of Education and Culture after the filing and visitation procedures were completed in writing and the visit of the LLDIKTI chairman followed by submission to DIKTIS (Directorate of Islamic Higher Education). This article aims to prove empirically about the implementation of the Ministry of Education and Culture's policies and the Decree of the Directorate of Islamic Higher Education regarding the merger of two or more universities, 2) information that the merging process of PTKAI and PTU is not easy.

Coalescence of black hole–neutron star binaries

We review the current status of general relativistic studies for coalescences of black hole–neutron star binaries. First, high-precision computations of black hole–neutron star binaries in quasiequilibrium circular orbits are summarized, focusing on the quasiequilibrium sequences and the mass-shedding limit. Next, the current status of numerical-relativity simulations for the merger of black hole–neutron star binaries is described. We summarize our understanding for the merger process, tidal disruption and its criterion, properties of the merger remnant and ejected material, gravitational waveforms, and gravitational-wave spectra. We also discuss expected electromagnetic counterparts to black hole–neutron star coalescences.

Simulating the Outcome of a Binary Neutron Star Merger in a Common Envelope Jets Supernova

We simulate the influence of the energy that the merger process of two neutron stars (NSs) releases inside a red supergiant (RSG) star on the RSG envelope inner to the merger location. In the triple-star common envelope evolution (CEE) that we consider, a tight binary system of two NSs spiraling in inside an RSG envelope and because of mass accretion and dynamical friction, the two NSs merge. We deposit merger-explosion energies of 3 × 1050 and 1051 erg at distances of 25 and 50 R ⊙ from the center of the RSG, and with the three-dimensional hydrodynamical code FLASH we follow the evolution of the RSG envelope in inner regions. For the parameters we explore, we find that more than 90% of the RSG envelope mass inward of the merger site stays bound to the RSG. NSs that experience CEE are likely to accrete RSG envelope mass through an accretion disk that launches jets. These jets power a luminous transient event, a common envelope jets supernova (CEJSN). The merger process adds to the CEJSN energy. Our finding implies that the interaction of the merger product, a massive NS or a BH, with the envelope can continue to release more energy, both by further inspiraling and by mass accretion by the merger product. Massive RSG envelopes can force the merger product to spiral into the core of the RSG, leading to an even more energetic CEJSN.

Coopetition in a merger process: Regulators and management of coopetitive tensions

Coopetitive tensions can arise as strategic decisions are imposed on firms that challenge them to pursue competition and collaboration with other organizations. Regulators—such as the state—can interfere in merger strategies. Using a longitudinal case study, the objective of the study is: (1) to analyze which regulators influence coopetitive tensions in a merger process (including negotiation and integration stages); and (2) to explore how coopetitive tensions are coped with during the process. We found that the state and customers have architectural roles as regulators during the process (negotiation period, deal, and integration process). We explore coopetition paradox management at different levels (interorganizational, organizational, and individual levels) over the merger process. Points for practitioners Our study sheds light on tensions experienced by managers with conflicting identities at the beginning of the integration and on the way they coped with such tensions. Indeed, our study shed lights on the integration principle as managers were able to transcend the paradox in their decisions and actions implemented at the organizational level through reorganizing the organization and favoring tandem teams and joint piloting.

Information System Purchase and Integration Contingencies When Companies Merge

This study grounds empirically the purchasing and further integration of an implemented information system set in the frenzied context of a corporate merger. A single longitudinal case study from the Norwegian pelagic seafood industry provides a detailed long-term account of developing the information system prior to, during and after a merger in the seafood industry that relies on wild catch. It is characterised by high dependence on features of nature and society to secure sustainable production. Contingency theory together with a process view of production reveals how interactions unfold over time to develop the new unified information system. Features of integration, interaction and interdependency represent different facets of information system purchase and development. The merger process represents an abnormality for the organisation as a continuous entity. Information system development in the case, therefore, takes place in a weakly integrated network of merging firms with severe time constraints. Given high uncertainty, solutions emerge through interaction. Deterministic optimisation is, in this context, a fluffy managerial dream. Normally, information system purchase and information system development involve reciprocal interdependencies involving mutual adjustments through intensive technologies and tight interaction among all parties involved. The coercive behaviour of management seeking efficiencies overrules these planning ideals. This indicates that purchasing, in a corporate merger context, is complex and approached as a complex system in a network. Solutions used in this approach originate because of emergent-networked interaction.

Democratically Sustainable Local Development? The Outcomes of Mixed Deliberation on a Municipal Merger on Participants’ Social Trust, Political Trust, and Political Efficacy

Municipal mergers are typically contentious and polarizing issues among both citizens and politicians. In deciding on these, municipal-level referendums are often commissioned by municipal councils. Referendums, though, are also per se polarizing processes that only exacerbate an already polarizing issue. Adding deliberation to referendum processes has been shown in previous studies to be a more democratically sustainable process than mere referendums. In this study, we explore the use of mixed deliberation between citizens and politicians within a municipal merger process in the municipality of Korsholm in Finland, one year before a referendum on the issue occurred. The deliberations were two-hour sessions in February 2018, with local politicians present in each discussion group. Using pre- and post-deliberation surveys, we trace how citizens (n = 117) engaging in deliberation developed their social trust, political trust, and political efficacy during deliberation. Generally, we expected that all of these would be strengthened in deliberation. The results, however, reveal only a few statistically significant effects, some of which ran contrary to expectations.