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M&A success and synergies are regularly discussed in the practical literature, but synergies are typically treated as a static concept (how do you get them?) with little discussion of financial bet acquirers create in paying an up-front premium. We describe the importance of investor reactions, the nature of the challenge, and discuss synergies as a process with five rules of the road covering M&A strategy, diligence, culture, leakage, and validation and reporting. Potential acquirers must be better prepared before they commit these major capital investments, involving multiple stakeholders throughout the process of creating the value they are promising with M&A.

We report the important results of our 24-year study on acquirer performance, the persistence of investor reactions, and the role of the acquisition premium to support our position that synergies must be trackable and defendable before and after deal announcement. From our collective author experience of advising on many hundreds of synergy programs over the years, we distilled our experience based on the common lack of understanding of what is required by executives, and when, and what we have seen greatly improve the odds of success in achieving sufficient M&A synergies.

Major findings include: 1. Initial market reactions are good predictors of the future, most deals persist, positive or negative, and there is a big spread of returns between winners and losers with losers paying the highest premiums; 2. Premiums additions to target’s growth value and may require larger performance increases than acquirers expect; 3. Synergies are a dynamic process involving multiple stakeholders from becoming a prepared acquirer in M&A strategy, building an early synergy roadmap during diligence, understanding that culture and change issues launch at announcement and preparation must begin long before, anticipating leakage, and validating and reporting post-close.

Our study is original covering three waves of mergers over 24 years; we formalize the synergy challenge created by paying a premium with respect to the already existing growth expectations for the target; we make clear that ultimately validating synergies begins with M&A strategy and diligence through to the workings of an Integration Management Office, anticipating synergy leakage, and preparing employees for change.

Following the contextual approach to intellectual capital, this study analyzed the specific types of external relational capital that foster product/service, process and managerial innovativeness in organic farming as key drivers of sustainable food production.

Survey data from 358 organically certified Spanish farmers were analyzed using structural equation modeling based on partial least squares. A total of three models, one for each type of innovativeness, were developed to analyze the impact of external relational capital. These models took into account four specific types of relational capital: vertical relationships, horizontal relationships, relationships with government institutions and relationships with knowledge-intensive institutions.

Although relational capital and innovativeness are clearly underdeveloped, knowledge generated through and embedded in external relationships plays a substantial role in promoting innovativeness in organic farming. Moreover, depending on the type of innovation to be developed, the type of external relational capital that is relevant differs.

This study's findings indicate that organic farmers prioritize process innovation over product/service and managerial innovation. For the latter categories, building relationships with customers, consumers and government institutions is key. Policymakers should encourage farmer-engaging socialization spaces that emphasize family farms and their knowledge contribution.

Past studies have examined the overall degree of association between external relational capital and innovation, often overlooking the nuances of contextual factors. In contrast, this research delves into the unique contributions of knowledge sourced from various external relationships, focusing specifically on how these relationships influence different types of innovation within the specific context of organic farming.

Maintaining a healthy and productive workforce is a challenge for most organizations. This is even truer for health organization, facing staff shortages and work overload. The aim of this study is to identify the resources and constraints that influence managers' mental health and better understand how they are affected by them.

A qualitative approach was chosen to document the resources, the constraints as well as their consequences on managers in their day-to-day realities. The sample included executive-, intermediate- and first-level managers from a Canadian healthcare facility. A total of 62 semi-structured interviews were conducted. The coding process was based on the IGLOO model of Nielsen et al. (2018) to which an employee-related level was added (IGELOO).

Results highlight the importance of considering both resources as well as constraints in examining managers' mental health. Overarching context, organizational constraints and the management of difficult employees played important roles in the stress experienced by managers.

The results offer a better understanding of the importance of intervening at different levels to promote better organizational health. Results also highlight the importance of setting up organizational resources and act on the various constraints to reduce them. Different individual strategies used by managers to deal with the various constraints and maintain their mental health also emerge from those results.

In addition to addressing the reality of healthcare managers, this study supplements a theoretical model and suggests avenues for interventions promoting more sustainable organizational health.

Among scholarly analyses of sport demand, few have considered the demand for match replays despite replays' indispensable role in sport broadcasts. Different from live matches, viewers of match replays generally have access to match outcomes. Outcome uncertainty is thus less relevant in attracting viewers. This paper addresses this research gap by analyzing the demand for replays of competitive esports matches.

We collected match replay data for two competitive esports leagues, CrossFire Pro League and King Pro League, from two Chinese esports online platforms, Douyu.com and Huya.com. Drawing on two economic theories of superstar effects—a skilled-based theory and a popularity-based theory, we performed regression analyses and dominance analyses to examine the demand for esports match replays.

Our results indicated skill to be more important in the demand for tactical games while non-skill-popularity is more instrumental in attracting viewers to replays of leisurely games. The platform with knowledge-sharing features also exhibited a stronger skill impact for tactical games.

Findings contribute to the understanding of sport match replays and offer implications for esports organizers and broadcasters to market games effectively.

The literature review explores how multidisciplinary approaches based on critical pedagogy and participatory research can provide frameworks for equitable partnerships and genuine participation in educational design and research practices. Additionally, the essay aims to expand understandings of equitable engagement within educational research and design based on principles from critical pedagogy.

The essay draws from diverse literature in the learning sciences, health informatics, industrial design, disability studies, ethnic studies, rehabilitation science, and to a lesser extent HCI research to understand how critical pedagogy and participatory research methods can provide useful frameworks for disabled peoples' equitable engagement and genuine participation in educational research and design. The literature reviewed in the paper concern topics such as participatory approaches to community development with disabled adults, the implementation of university-initiated community partnerships, participatory research with students and disabled people, and the importance of culturally-responsive research practices. The design literature in this review explores various arenas such as the co-design of assistive technologies with disabled children and adults and the design of curricula for students with and without disabilities. This review focuses on research practices that engender disabled peoples' participation in educational research and design, with focus on developing multidisciplinary frameworks for such research.

The literature review concludes that participatory research methods and critical pedagogy provide useful frameworks for disabled peoples’ participation in educational design and research practices. Critical pedagogy and participatory design allow for the genuine participation of disabled people in the research process.

Emphases on collaboration and collective knowledge-building in social transformation are present in scholarship concerning critical pedagogy, participatory research, and disability studies. However, these connections have been routinely underexplored in the literature. This paper aims to underscore these integral connections as a means to build solidarity between disabled and other marginalized people.

The connections between participatory research methods, critical pedagogy, and disability studies have been previously underexplored. The literature review proposes a combined approach, which has the potential to radically transform multiple realms of research beyond the learning and information sciences.

This paper aims to establish the link between the attitudes older adults hold toward governmental websites, their subjective online public service use skills and their e-government use for bureaucratic (e.g. document downloading or filling them out online) and transactional (e.g. payment) purposes.

Data were obtained from the 2020 Israel Social Survey and analyzed using binary logistic regression models. The sample included internet users aged 60 years and older (N = 735).

Subjective use skills were positively associated with each studied type of e-government use. Perception of security in providing personal information on governmental websites was also positively associated with both types of use. Perceived clarity and simplicity of governmental websites was (positively) related to transactional e-government use only.

The results suggest that the types of e-government use in older adulthood are not contingent upon exactly the same factors. Moreover, attitudes toward e-government seem to be more relevant for transactional rather than bureaucratic e-government use in this lifespan period.

The study examines factors related to government website uses of various types in later life – a rarely studied topic in e-government research.

The purpose of this paper is to examine how users on social media view brands with a heritage. Consumers commonly post opinions and accounts of their experiences with brands on social media. Such consumer-generated content may or may not overlap with content desired by brand managers. Drawing from “The medium is the message” paradigm, this study text-mines user narratives on Twitter1 to shed light on the role of social media in shaping public images of brands with heritage through the lens of the stereotype content model.

The study uses a data set of almost 80,000 unique tweets on 12 brands across six categories, compares brands high versus low in heritage and combines dictionary-based content analysis with sentiment analysis.

The results indicate that both user-generated content and sentiment are significantly more positive for brands low rather than high in heritage. Regarding warmth, consumers use significantly more positive words on sociability and fewer negative words on morality for brands low rather than high in heritage. Regarding competence, tweets include more positive words on assertiveness and ability for low-heritage brands. Finally, overall sentiment is more positive for brands low rather than high in heritage.

Important from co-creation and integrated marketing communication perspectives, the findings provide brand managers with actionable insights on how to more effectively use social media.

To the best of the authors’ knowledge, this research is among the first to examine user-generated content in a brand heritage context. It demonstrates that heritage brands, with their longevity and strong links to the past, need to be aware of how contemporary social media can detract from their image.

Social recommendation has been recognized as a kind of e-commerce with large potential, but how social recommendations influence consumer decisions is still unclear. This paper aims to investigate how recommendations from different social ties influence consumers’ purchase intentions through both behavior and brain activity.

Utilizing behavioral (N = 70) and electroencephalogram (EEG) (N = 49) experiments, this study explored participants’ behavior and brain responses after being recommended by different social ties. The data were analyzed using statistical inference and event-related potential (ERP) analysis.

Behavioral results show that social tie strength positively impacts purchase intention, which can be fitted by a logarithmic model. Moreover, recommender-to-customer similarity and product affect mediate the effect of tie strength on purchase intention serially. EEG findings show that recommendations from weak tie strength elicit larger N100, N200 and P300 amplitudes than those from strong tie strength. These results imply that weak tie strength may motivate individuals to recruit more mental resources in social recommendation, including unconscious processing of consumer attention and conscious processing of cognitive conflict and negative emotion.

This study considers the effects of continuous social ties on purchase intention and models them mathematically, exploring the intrinsic mechanisms by which strong and weak ties influence purchase intentions through recommender-to-customer similarity and product affect, contributing to the applications of the stimulus-organism-response (SOR) model in the field of social recommendation. Furthermore, our study adopting EEG techniques bridges the gap of relying solely on self-report by providing an avenue to obtain relatively objective findings about the consumers’ early-occurred (unconscious) attentional responses and late-occurred (conscious) cognitive and emotional responses in purchase decisions.

This study examines the contextual variables that can curb the negative effects of role conflict on job satisfaction and enhance the positive effect of job satisfaction on creativity and service performance. More specifically, adopting the job demands-resources theory, the authors explore the interactive effect of frontline employee (FLE) self-monitoring and FLE-manager trust on the relationship between role conflict and job satisfaction. Extending this line of inquiry, the authors adopt social identity theory and analyze the moderating effect of FLE-manager identification on the relationship between job satisfaction and creativity and between job satisfaction and service performance.

Dyadic data utilizing 122 responses from FLEs and their managers were obtained from FLEs working with a major financial services firm in India. Structural equation modeling and PLS were used to assess the hypothesized relationships.

The negative relationship between role conflict and job satisfaction is reduced at higher levels of FLE self-monitoring and FLE-manager trust. Furthermore, FLE manager identification accentuates the effect of job satisfaction on creativity and service performance.

Organizations should invest in developing FLEs' personal and job-related resources to reduce the deleterious effects of role conflicts on FLEs' job outcomes. Specifically, managers should hire FLEs who are high in self-monitoring while enhancing FLE-manager trust and FLE-manager identification.

Role conflict is inevitable in a service job and can have serious negative downstream consequences. Hence, the study explores the important contextual factors that can help an organization develop policies to reduce the negative effects of role conflict.