1,721,053 research outputs found
The impact of communications and emotions on merger and acquisition success: Does anyone care how you feel about your deal?
No full textMost merger and acquisition (M&A) performance studies focus upon protagonist pre-deal characteristics, post-deal post-acquisition integration strategies, or a combination of the two. However, a critical part of the M&A process has been overlooked. The “deal completion” phase, between the announcement of a deal and its completion, can make the difference between success and failure. This paper examines this neglected process by focusing upon managerial practices aiming to influence investor sentiment during the deal completion phase. We contend that skillful use of acquirer voluntary communications can affect acquirer stock market price. This matters, as a higher price for acquirer stock generally improves an acquirer’s ability to purchase a target company and helps a deal to close successfully. We therefore investigate whether acquirers can influence their share price positively through the skillful use of voluntary communications, in terms of both the volume of communications and the sentiment expressed. We suggest that these voluntary communications can reduce information asymmetry between the acquirer and the financial markets, and so influence market prices. We examine 548 large M&A deals between US acquirers and US targets, completed during 2010–2016, and analyze more than 15,000 voluntary communications taking place between announcement and completion dates. Using stock volatility and cumulative abnormal returns, we find that acquirers benefit from more voluntary communications in the short term, particularly in all equity deals. We also find that the sentiment of voluntary communications matters, as those that express negative sentiment in the short term see a reduction in performance, while longer term those expressing positive sentiment see a positive relationship with stock volatility. These results show that managers can use voluntary communications to influence market perceptions of their acquisition strategies, and that sentiment matters
The Private Security State:Surveillance, Consumer Data and the War on Terror
No full textThe last decade has witnessed the emergence of a surveillance-industrial complex as securitised data about customers begins to flow between the private sector and government. Through detailed empirical analysis The Private Security State? questions how private sector organizations achieve compliance with demands for customer data. Whilst others have argued that diffused security arrangements de-politicises it, this book shows that national security becomes re-politicised as it re-surfaces in the politics of production within the business enterprise.The Private Security State? revolves around case studies of two surveillance regimes: The Anti-Money Laundering/Counter Terror Finance regulations in retail financial services; and the EBorders regulations in the retail travel industry.The book examines how these new government demands for information intertwine with the activities of private sector organizations, as their systems, processes, customers and employees are integrated into national security frameworks
Taking responsibility for border security: commercial interests in the face of e-Borders
Full text linkSecurity is an important feature of the macro environment for tourism that affects the consumption of travel products. Following high-profile terrorist attacks, UK border security measures have been increased through the implementation of the e-Borders programme. This initiative requires passenger carriers to collect and electronically transmit travel document information and service information for any individual entering or leaving the UK. The commercial impact of e-Borders on travel firms is investigated by examining the relationships between the affected stakeholders, considering the power and decision making at play, and exploring the outcomes. The e-Borders programme is described, and a framework for the in-depth, qualitative study is presented. The findings show that passenger carriers and travel firms manage the negative consequences of compliance and restore their commercial interests by engaging in a process we describe as recognizing, rationalizing and refashioning. The implications for research and practice are explored
Carnivalesque collaborations: reflections on ‘doing’ multi-disciplinary research
No full textMany funding bodies emphasise the advantages of using multi-disciplinary approaches; in response, in this paper we consider our reflections on doing such a project. We contribute to the multi-disciplinary literature by considering the standardizing effect of collaboration on multifarious research approaches. We argue that greater attention should be paid to ‘doing’ qualitative multi-disciplinary research. We find that elements of ‘letting go’ and ‘coming together’ are important when new perspectives and knowledge are engaged. Therefore, we call for clarity on the multi-disciplinary approaches and discuss how we came to understand the collaborative processes of researching, thinking, and writing. The paper begins with vignettes about our ontological journeys during the research project. In developing our argument, we consider the retrospective and reflexive qualities expressed in our vignettes and examine how our collaborative theorizing shaped the research project
Working on the edge: remediation work in the UK retail travel sector
Full text linkIn response to recent terror attacks, Western governments now involve private sector organizations in national security regimes in key strategic areas such as travel, communication and financial services. The UK’s eBorders programme is one such regime. Its goal is to collect and analyse passport and passenger data from all travellers entering and leaving the United Kingdom in advance of travel. Airlines and their supply chains are required to collect data from their customers and transfer it to the UK Border agency for processing. Using documentary and interview data, this article develops the concept of ‘re-mediation work’ to characterise the impact of the regime on travel firms and their employees
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Data Privacy: Users’ Thoughts on Quantified Self Personal Data
Full text linkThe logging of personal data has been shown to offer many benefits for those wanting to, for example, get fitter, get stronger or get to know themselves better. In this chapter, we concentrate on the privacy values attributed to Quantified-Self (QS) data. Using evidence taken from research interviews, this chapter reviews privacy in relation to personal data and offers an empirical perspective on how QS users view and value the data they collect, and often display publically, as well as their attitudes towards the handling of their data by QS device manufacturers. We question appreciations of privacy in QS data and elaborate on how users value their QS privacy
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
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