This paper presents a novel method to explore the relationship between dynamic mergers and evolution of industrial competition by introducing complex network tool. Taking the beer industry of China as an example, we establish Markets-Firms bipartite time series networks, weighted Markets-Firms time series networks and industrial competition time series networks by using the data from 1992 to 20...

Recently, the FCC announced a new standard for review in mergers. Under the new standard, mass media mergers that comply with existing rules will automaticly receive approval, while those that do not will receive a more searching review. Common carrier mergers, however, will continue to receive the 4=part test established in Bell Atlantic/Nynex. The new standard fails to take into account the c...

We have mapped the 2.6 mm CO J = 1 → 0 emission in three optically selected “Toomre Sequence” mergers (NGC 520, NGC 3921, NGC 4676). We examine these data in order to address if there are any fundamental differences between these optically selected mergers and more luminous IR selected mergers. The molecular gas distributions are well resolved by the observations, and they are as compact as in ...

This article discusses the nature of the operation Merge, and the possibility of unconventional mergers, with some attention to the issue of representation. Regular Merge has three possible effects, depending on the input. Next to ‘first-time’ merge, there are both ‘internal’ and ‘external’ remerge. The last creates a temporary doubly-rooted structure, which potentially results in a configurati...

We study the interplay between corporate liquidity and asset reallocation. Our model shows that financially distressed firms are acquired by liquid firms in their industries even in the absence of operational synergies. We call these transactions ‘‘liquidity mergers,’’ since their purpose is to reallocate liquidity to firms that are otherwise inefficiently terminated. We show that liquidity mer...

Theoretical considerations and observational data support the idea that mergers were more frequent in the past. At redshifts z = 2 to 5, violent interactions and mergers may be implicated by observations of Lyman-break galaxies, sub-mm starbursts, and active galactic nuclei. Most stars in cluster ellipticals probably formed at such redshifts, as did most of the halo and globular clusters of the...

The period within which higher education mergers have taken place on a large scale internationally overlaps with a phase characterized by extremely rapid take-up of information technologies in higher education. This article analyses the implications of institutional mergers for information systems development in the South African higher education system. The analysis is undertaken with particul...

The challenging market condition for insurance carriers has become intense so that insurance companies look for all the feasible options for survival including consolidation with other insurance carriers, agent and broker networks and even non-insurance financial institutions. Using event study methodology, our study investigates whether the mergers and acquisitions of US insurers create value ...

In this paper, we study mergers in oral or second-price auctions and compare them to mergers in sealed-bid or rst-price auctions. We use an adaptation of the logit qualitative choice model to characterize the underlying bidder value distributions. In second-price auctions, this model has a closed-form relationship between winning bids (prices) and the probabilities of winning (shares), and this...