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The authors tested the hypothesis that having a high availability of different types of alcoholic drinks (beer, wine or spirits) as compared to being confined to one type only associate with a higher alcohol intake and worse next-day hangover.

This randomized controlled pilot trial took place over one evening and included 35 individuals randomized into two groups. Individuals in the mixed-type group could consume any type of alcoholic drink (beer, wine, cocktails), whereas individuals in the single-type group were to adhere to one type of own choice. Information on number of drinks was obtained continuously during the trial. Hangover symptoms were reported by participants using the Acute Hangover Severity Scale (AHSS) at 8:00, 12:00 and 16:30 the following day. Median regression was used to assess number of drinks and maximum AHSS in two groups.

Participants in the mixed-type group consumed significantly more drinks compared to the single-type group (10.9 vs 5.7, p < 0.001). The maximal AHSS score the day after drinking was higher in the mixed-type group as compared to the single-type group (median 4.3 vs 2.6, p < 0.0001).

This study suggests that having a variety of alcoholic drinks available associates to a higher alcohol intake and more severe hangover as compared to having to adhere to one type only. Larger studies are warranted to validate findings.

Mergers & acquisitions (M&As) can be an effective way to expand into new markets or business opportunities. Yet, a considerable number of failed M&As can be attributed to disregarded human resource (HR) concerns. In particular, an organization’s leadership tends to hail the advantages of a merger or acquisition during the early stages, raising employees’ expectations (honeymoon effect). Many documented failures in such corporate transactions indicate organizational members’ declining satisfaction following a deal (hangover effect).

Drawing on in-depth interviews with senior M&A experts (n = 12) at a global big-four accountancy firm and focus group sessions with their respective clients, this study investigates in two cases the interplay between HR issues and M&A transactions and infers effective risk management actions.

A honeymoon hangover after a transaction may appear in organizations if HR issues are neglected. Study results provide notable implications for HR departments and HR professionals facing a merger or acquisition. These implications include (1) focusing on HR risks, (2) involving HR executives to manage the HR due diligence efforts, (3) setting up transition teams that communicate well, (4) creating policies for learning and knowledge sharing, (5) developing new competencies for the NewCo, (6) being sensitive to cultural differences and (7) considering legal aspects.

The two transactions studied revealed patterns that are important for successful change. However, we should not underestimate the individual perspective in M&As. Further studies with interview data directly from stakeholders are important to analyze further the relationships between HR due diligence, organizational learning, effective knowledge transfer, and culture. Due to our research approach, we cannot claim that the results can be generalizable to all major M&As. Further research is needed to measure the impact of the HR Due Diligence aspects outlined on M&A success.

Although M&As have been much researched, relatively little has been written on practical managerial adaptation from a human resource perspective and its implications for organizational learning. This article helps address this imbalance by providing a people-oriented approach for effectively managing M&As from beginning to integration.

In October 2020, Zambia failed to make a $42.5 million interest payment on $1 billion in Eurobonds maturing in 2024, becoming the first African country to default on its debt obligations in the aftermath of COVID-19. Zambia's default highlights the fragmented nature of governance in sovereign debt markets. The Zambian default also underscores the continuing impact of colonial hangover in former colonies in Africa. Fragmented governance and colonial overhang create incentives for both debtors and creditors that contribute to cycles of sovereign debt. These cycles of debt pose a particular hazard to residents within countries that issue such debt. In African contexts, this has led to flows of funds for debt repayment that may significantly jeopardize the well-being of people who are already poor. Zambia's default also reflects the increasing need of African countries to navigate among different external actors, particularly China, which has given loans throughout Africa for varied projects, including infrastructure lending as part of its Belt and Road Initiative. The Zambian default draws attention to the significant amount of Eurobond debt African countries have incurred in recent years and the burdens that such debt may impose. The circumstances of Zambia's default, as well as recent disputes about external debt in Mozambique, reflect continuing issues about transparency and public scrutiny of sovereign debt transactions and the broader societal impact of debt internally within African countries and in relations between African countries and varied external powers.

Crowdsourcing delivers creative ideas for the issuing firm, but participants’ engagement in the creative process also creates additional benefits to firms and participating customers. The purpose of this study is to investigate if these spill-over values endure over time. With data from two time point, i.e. at submission and after announcement of the contest winners, we examine the relationship between the degree of a participant’s creative process engagement (CPE) and value creation from a crowdsourcing contest, and how these perceptions of value change over time.

Data were collected from 154 participants in a crowdsourcing contest at two time points with an online survey: at submission, and after receiving feedback (in term of rankings, rewards, and comments) from the community. Partial Least Square path modelling was used to estimate both main and moderating effects.

CPE increases the perceived value of customers (social and epistemic value) and firms alike (knowledge-sharing intention and customer loyalty), though all but epistemic values decrease over time. Disconfirmation of expectations and need for recognition moderate these effects.

This paper is the first longitudinal study that helps understanding the effect of CPE on value creation from crowdsourcing across time. It also uses the theoretical lens of the honeymoon hangover effect to explain how perceived value changes. The resulting insights into the role of customer engagement in crowdsourcing contests and subsequent value creation will be beneficial to the growing research stream on consumer value co-creation and user innovation.

I look forward to hearing your presentations of your papers. And, perhaps even more importantly, learning and obtaining new insights from subsequent interaction. As our Austrian School forbears stated, our knowledge as individuals is very limited and all of us will often make mistakes. The increased expertise has not improved this – it may be harder now as each expert knows more and more but about less and less as his field becomes ever more concentrated and thereby shrinks.Yet by our interaction, usually in some form of competition, our varying expertise, differing knowledge and individual approaches will get the total closer to right over time. We’ll approach equilibrium but of course never quite get there since nothing stands still and the world itself is constantly changing.I have always been fascinated by that miracle in which competing entrepreneurs produce an outcome that is more efficient and better than most would have done individually and look forward to obtaining greater insights as you present your papers.We last met in the fall of 2008, a period of rapid financial meltdown and severity of stress none of us had ever experienced. Of course the last similar crisis took place nearly 80 years ago in the 1930s, long before any of us were born. And in that distant past, there were two main suggestions of how to fix it: the Austrian approach and that of J. M. Keynes. Part of the latter's solution was applied then, and again this time.We asked the attendees, most of whom are represented by the papers in this volume, for comments or suggestions: What would you do now?We spent an hour in this discussion and, I believe:1) recognized that the Austrian School approach would be to allow interest rates to revert to normal levels from the artificially low yields which had misled entrepreneurs in the first place, but 2) accepted the reality that today's politicians had to take action and be seen as doing so.Three weeks earlier I had attended two days of meetings of the Hayek Society in Vienna. Along with some academics, the majority of the members consisted of business men, lawyers, practicing economists, psychologists and even politicians including the two Mr. Pauls from the US (Representative Ron Paul by video call). To my surprise, the consensus appeared to be to let business work out its own problems because no person, not even an expert, can know the future and therefore a perfect solution.It appears that the massive infusions of cash by all governments really have shortened the duration of our global problems. We must be grateful, but we also still need a long-term solution. As I said then and repeat now, giving a drunk some more drinks the morning after makes his hangover more bearable, but we still need to find out how to wean him off excessive alcohol. Our governments have spent, and in most cases are continuing to spend much more money to get us past the meltdown. But this money will need to be repaid by future spending cuts. And we are still living with abnormally low interest rates which will at some point mislead entrepreneurs into risky ventures with inadequate returns. We are building the next bubble.While no one knows exactly what we should do, I expect that the insights and views on expertise presented here, may help to clarify this challenge.

People usually gather in the afternoon between five or six o'clock to chew. Many look tired, suffering the qaadiro or hangover from the previous night's session. For many this becomes a daily routine, and is rationalised with there being no other form of entertainment.

This paper aims to introduce recently an unregulated unsupervised algorithm focused on voice activity detection by data clustering maximum margin, i.e. support vector machine. The algorithm for clustering K-mean used to solve speech behaviour detection issues was later applied, the application, therefore, did not permit the identification of voice detection. This is critical in demands for speech recognition.

Here, the authors find a voice activity detection detector based on a report provided by a K-mean algorithm that permits sliding window detection of voice and noise. However, first, it needs an initial detection pause. The machine initialized by the algorithm will work on health-care infrastructure and provides a platform for health-care professionals to detect the clear voice of patients.

Timely usage discussion on many histories of NOISEX-92 var reveals the average non-speech and the average signal-to-noise ratios hit concentrations which are higher than modern voice activity detection.

Research work is original.

With the growing urgency to reduce Europe's swelling “wine lake”, further growth in underdeveloped markets is being hampered, in part, by the risks involved in purchasing wine. Perceived risk is a factor which affects consumers' decision making when they are considering a new product choice or a choice in which the “stake” is high. The article considers the importance of various risks, for example, social, financial, functional and physical, to consumers in the UK wine market. The most important perceived risk was the taste of the wine, the least important being the risk of hangover. The group discussions elaborated several other points. Knowing the exact risks people perceive about a product, marketers can set about altering the product in an attempt to reduce those risks thus increasing the competitive differential of the product.

Anyone seeking an object lesson in the uncertainties of the business world needs to look no further than the telecommunications industry. Wireless communications increased massively during the late 1990s, a time when technology advanced at a bewildering rate. The value of companies using this technology soared during that period, but the story of the first few years of this century has been one of big hangovers for many players. Dot.coms have collapsed and even big names such as Deutsche Telekom and British Telecom have seen half of their market value disappear. On the stock market fortunes have, as they say, been made and lost.