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Mergers and acquisitions (M&As) have become the preferred growth strategy for many executives. However, simply “doing deals” is not enough to create a competitive advantage for their companies. Only focusing on M&A as a financial transaction is too narrow of an approach, which is easily duplicated across firms. Using Woodward, Inc. as a case example, this article shows how using an actionable, end-to-end process model, and embedding integrated capabilities within the organization, across the entire process, managers can make M&A a core competence to provide a valuable, rare, and inimitable advantage for their firms.

A mixed-methods approach, combining action research with a narrative synthesis of empirical and practice literature was used to develop a comprehensive M&A process model - the Deal Flow Model - consisting of ten stages across three phases. The resource-based view, core competencies, and the VRIO framework provide a theoretical foundation for the model. An application of the Deal Flow Model using Woodward Inc. as a case example is also presented.

Only focusing on M&A as a financial transaction is too narrow of an approach, which is easily duplicated across firms. Instead, using an actionable, end-to-end process model, and embedding integrated capabilities within the organization across the entire M&A process provides a valuable, rare, and inimitable advantage for firms.

Researchers will find the Deal Flow Model useful as a structure to examine the M&A process as a whole or to frame single-stage, single-discipline research in the broader context of the overall M&A process.

A practice-oriented Deal Flow Model, providing a cross-disciplinary, end-to-end view of the M&A process is presented. The model is designed to be actionable by managers, who can apply the process to build the M&A competence of their organization.

The Deal Flow Model is unique as it is designed to be actionable by managers, who can apply the process to build the M&A competence of their organization. Likewise, researchers will find the model useful as a structure to examine the M&A process as a whole or to frame single-stage, single-discipline research in the broader context of the overall M&A process.

The purpose of this paper is to characterize a commutative ring R with identity which is not an integral domain such that ZT(R), the total zero-divisor graph of R is connected and to determine the diameter and radius of ZT(R) whenever ZT(R) is connected. Also, the purpose is to generalize some of the known results proved by Duric et al. on the total zero-divisor graph of R.

We use the methods from commutative ring theory on primary decomposition and strong primary decomposition of ideals in commutative rings. The structure of ideals, the primary ideals, the prime ideals, the set of zero-divisors of the finite direct product of commutative rings is used in this paper. The notion of maximal Nagata prime of the zero-ideal of a commutative ring is also used in our discussion.

For a commutative ring R with identity, ZT(R) is the intersection of the zero-divisor graph of R and the total graph of R induced by the set of all non-zero zero-divisors of R. The zero-divisor graph of R and the total graph of R induced by the set of all non-zero zero-divisors of R are well studied. Hence, we determine necessary and sufficient condition so that ZT(R) agrees with the zero-divisor graph of R (respectively, agrees with the total graph induced by the set of non-zero zero-divisors of R). If Z(R) is an ideal of R, then it is noted that ZT(R) agrees with the zero-divisor graph of R. Hence, we focus on rings R such that Z(R) is not an ideal of R. We are able to characterize R such that ZT(R) is connected under the assumptions that the zero ideal of R admits a strong primary decomposition and Z(R) is not an ideal of R. With the above assumptions, we are able to determine the domination number of ZT(R).

Duric et al. characterized Artinian rings R such that ZT(R) is connected. In this paper, we extend their result to rings R such that the zero ideal of R admits a strong primary decomposition and Z(R) is not an ideal of R. As an Artinian ring is isomorphic to the direct product of a finite number of Artinian local rings, we try to characterize R such that ZT(R) is connected under the assumption that R is ta finite direct product of rings R1, R2, … Rn with Z(Ri) is an ideal of Ri for each i between 1 to n. Their result on domination number of ZT(R) is also generalized in this paper. We provide several examples to illustrate our results proved.

The implication of this paper is that the existing result of Duric et al. is applicable to large class of commutative rings thereby yielding more examples. Moreover, the results proved in this paper make us to understand the structure of commutative rings better. It also helps us to learn the interplay between the ring-theoretic properties and the graph-theoretic properties of the graph associated with it.

The results proved in this paper are original and they provide more insight into the structure of total zero-divisor graph of a commutative ring. This paper provides several examples. Not much work done in the area of total zero-divisor graph of a commutative ring. This paper is a contribution to the area of graphs and rings and may inspire other researchers to study the total zero-divisor graph in further detail.

This study aims to establish an analytical framework to help investors accommodate their environmental, social, and corporate governance (ESG) preferences. The analytical solutions were complemented by empirical analyses to shed light on their benefits and tractability.

This study proposes an expected multi-attribute utility analysis for ESG investors in which stocks can be treated as more green or less green (brown) than the market, represented by an index, all modeled in a one-factor structure. The solution is found via the Hamilton-Jacobi-Bellman (HJB) equation with proper treatment of various sources of risk. For the empirical analysis, we use the RepRisk Rating of US stocks from 2010 to 2020 to select companies that are representative of various ESG ratings.

This study finds closed-form solutions for optimal allocations, wealth and value functions. Our empirical analysis reveals drastic increases in wealth allocation toward high-rated ESG stocks for ESG-sensitive investors, even as the overall level of pecuniary satisfaction remains unchanged.

This study broadens the existing analytical framework by introducing a market portfolio along with green and brown stocks. As by-products, we first demonstrate that investors do not need to reduce their pecuniary satisfaction to increase green investment. Second, we propose a parameterization to capture investors' preferences for green assets over brown or market assets, independent of asset performance.

In this chapter, we focus on virtual teams and emotions during postmerger and acquisition (M&A) integration. Our main research question is “How to manage emotions and virtual teams following cross-border M&A?”. We answer this question through the following research subquestions: (1) What virtual interaction can be identified post-M&A?; (2) What emotions arises from virtual communication; and (3) What emotions and challenges do virtual teams encounter following cross-border M&As? This research is based on a single case study. The main findings imply that emotions, trust, and cultural differences play an important role in virtual interaction following a cross-border M&A.

The chapter suggests two methodologies to measure inequality of opportunity in health in Israel, an ex-ante and an ex-post approach. In both cases, following the strategy recently suggested by Trannoy, Tubeuf, Jusot, and Devaux (2010), the chapter starts by introducing the production function of health, taking into account circumstances (the father’s years of education, his country of birth, the religion of the individual, his or her country of birth, age and gender) as well as effort variables (the level of education of the individual, his or her occupation and a variable describing his or her smoking habits).

The chapter also suggests then a decomposition of the overall health inequality into a legitimate and an illegitimate component, using the mean logarithmic deviation as inequality index, such a breakdown being applied to both the ex-ante and the ex-post approaches to equality of opportunity.

The role of M in the Bond films has altered radically in the modern Bond franchise – due in part to the casting of Dame Judi Dench as M. This chapter argues that M as portrayed by Dench asserts a monarch-like power and authority in her role as Bond’s commander, an authority that can be compared to that of the current monarch Queen Elizabeth II in both her real and imagined performances. It will examine how M as depicted by Dench fits into the legacy of the male M’s that came before her. It then compares the problematic relationship for both women with motherhood; their common refusal to employ emotive feminine manipulation to maintain their authority and how this authority utilises language and address. In doing so it will assert that both Dench’s M and Queen Elizabeth II put duty and their professional lives first – devoting themselves to the service of others.

As the developing nations grow and experience rapid institutional transformation, research has begun to investigate the roles of culture, cognition and institutional context on entrepreneurship and innovation. This chapter aims to advance the entrepreneurial cognition literature by juxtaposing entrepreneurial effectuation, domain-specific expertise and ambiguity. By conducting a qualitative study of Chinese high-tech domestic and returnee entrepreneurs, the authors propose a spectrum between causation and effectuation and argue that the entrepreneur’s perceived level of ambiguity may better explain differing logic orientations among entrepreneurs, contributing to our understanding of entrepreneurial cognition. The authors theorize that (1) individual actors and the level of institutional development jointly comprise the entrepreneur’s logic orientation; (2) the level of perceived ambiguity mediates the strategy adopted by high-tech entrepreneurs; (3) the entrepreneur’s logic orientation can be regarded as a continual spectrum from effectuation to causation. Finally, the logic orientation concept is applied to the context of cross-border mergers and acquisitions (M&A) from a process perspective and the implications and fit of logic orientation with the stages of cross-border M&A are discussed.

In response to demands and opportunities of the labor market, contemporary employers and employees voluntarily are entering into highly customized agreements regarding nonstandard employment terms. We refer to such idiosyncratic deals as “i-deals,” acknowledging that these arrangements are intended to benefit all parties. Examples of i-deals include an employee with highly coveted skills who is compensated more generously than other employees doing comparable work, and an employee who is granted atypically flexible working hours to accommodate certain personal life demands. The nonstandard nature of i-deals is likely to prompt questions about the fairness of the arrangement among three principal stakeholders – employees who receive the i-deal, managers with whom the i-deal is negotiated, and the co-workers of these employees and managers. We analyze issues of fairness that arise in the relationships among all three pairings of these stakeholders through the lenses of four established forms of organizational justice – distributive justice, procedural justice, interpersonal justice, and informational justice. Our discussion sheds light on previously unexplored nuances of i-deals and identifies several neglected theoretical issues of organizational justice. In addition to highlighting these conceptual advances, we also discuss methods by which the fairness of i-deals can be promoted.

Customers are important stakeholders for any company; yet, they seem not to be widely discussed in merger and acquisition research. This chapter synthesizes the current body of research on customers in mergers and acquisitions through presenting a systematic literature review. The chapter is based on a systematic literature review resulting from a search in EBSCO Host for any research item that refers to “customer” and “consolidation or merger of corporation.” All articles were coded to specify how customers are described, with a focus on whether customers are expected to affect and/or be affected by the merger or acquisition. Articles were compared with regard to their year of issue and research disciplines of publishing journals. The review indicates how customers continue to be discussed only to limited extent. The customer roles array from them as an acquirable customer base to customers as actors, whose activities become the very reason to merge or acquire. Literature also refers to them as victims and affected by the merger or acquisition, and reacting parties. In addition to the description of welfare transfer from consumers to acquirers in law and economics studies, the different ways of referring to customers extend beyond specific research disciplines. The literature review indicates more multifaceted ways of describing customers in recent research. No systematic literature review on customers in merger and acquisition literature has previously been conducted. The comparison of research disciplines, years of issue, and customer roles provides new insights into developments in the merger and acquisition field of research.