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Book part
Publication date: 4 September 2007

Margaret Dalziel

In acquisitions of technology-based firms the focus is typically on the technology and the target firm's engineers and scientists. But a firm is a social entity with a…

Abstract

In acquisitions of technology-based firms the focus is typically on the technology and the target firm's engineers and scientists. But a firm is a social entity with a range of important internal and external relationships that are essential to the exploitation of existing capabilities, and the development of new ones. These relationships need to be maintained, subsequent to acquisition, to preserve the target firm's ability to innovate and compete. I argue for the importance of the target firm's relationships with its customers, and show that the degree to which the acquisition creates or destroys value for the target firm's customers is a significant predictor of acquisition success.

Details

Advances in Mergers and Acquisitions
Type: Book
ISBN: 978-0-7623-1381-5

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Article
Publication date: 15 November 2021

Xin Xu

The purpose of this study is to address the limitations of existing target group distribution pattern analysis methods and identify subtle distribution differences within…

Abstract

Purpose

The purpose of this study is to address the limitations of existing target group distribution pattern analysis methods and identify subtle distribution differences within and between the groups with no pre-specified distribution features. Classical work generally concentrates on either the group distribution tendency or shape as a whole and simply ignores the subtle distribution differences within the group. Other work is constrained to pre-defined spatial distribution features.

Design/methodology/approach

This study proposes a novel algorithm for target group distribution pattern analysis. This study first transforms the group distribution data with uncertain measurements into a distributional image. Upon that, a bagged convolutional neural network model is constructed to discriminate the delicate group distribution patterns.

Findings

Experimental results indicate that our method is robust to target missing and location variance and scalable with dataset size. Our method has outperformed the benchmark machine learning methods significantly in pattern identification accuracy.

Originality/value

Our method is applicable for complex unmanned aerial vehicle distribution pattern identification.

Details

Aircraft Engineering and Aerospace Technology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1748-8842

Keywords

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Article
Publication date: 23 November 2021

Lakshmi M. Kavitha, Rao S. Koteswara and K. Subrahmanyam

Marine exploration is becoming an important element of pervasive computing underwater target tracking. Many pervasive techniques are found in current literature, but only…

Abstract

Purpose

Marine exploration is becoming an important element of pervasive computing underwater target tracking. Many pervasive techniques are found in current literature, but only scant research has been conducted on their effectiveness in target tracking.

Design/methodology/approach

This research paper, introduces a Shifted Rayleigh Filter (SHRF) for three-dimensional (3 D) underwater target tracking. A comparison is drawn between the SHRF and previously proven method Unscented Kalman Filter (UKF).

Findings

SHRF is especially suitable for long-range scenarios to track a target with less solution convergence compared to UKF. In this analysis, the problem of determining the target location and speed from noise corrupted measurements of bearing, elevation by a single moving target is considered. SHRF is generated and its performance is evaluated for the target motion analysis approach.

Originality/value

The proposed filter performs better than UKF, especially for long-range scenarios. Experimental results from Monte Carlo are provided using MATLAB and the enhancements achieved by the SHRF techniques are evident.

Details

International Journal of Pervasive Computing and Communications, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1742-7371

Keywords

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Article
Publication date: 9 November 2021

Thuy Hang Duong

Inflation targeting has increasingly become a popular monetary framework since its first introduction in New Zealand at the beginning of 1990. However, the causality…

Abstract

Purpose

Inflation targeting has increasingly become a popular monetary framework since its first introduction in New Zealand at the beginning of 1990. However, the causality effects of this policy on economic performance, particularly in periods of economic turmoil remain controversial. Thus, this paper re-examines the treatment effect of inflation targeting on two important macro indicators which are inflation rate and output growth with the focus on emerging market economies. The global financial crisis, which is known as the great recession since the last decade, is investigated as an exogenous shock to test for the effectiveness of this popular regime.

Design/methodology/approach

The difference-in-difference approach in the fixed-model is employed for this investigation using a balanced panel data of 54 countries with 15 inflation-targeting countries for the period 2002 to 2010.

Findings

The examination finds that there is no significant difference in terms of the inflation rate and gross domestic product growth over the whole research period between the treatment and control groups. However, the outcome suggests that emerging economies can control the increase in inflation rate when the economy has to cope with the exogenous uncertainties.

Research limitations/implications

This finding indicates important policy implications for central banks in many countries.

Originality/value

Inflation targeting can help emerging countries to reduce an increase in inflation rate in the crisis period without many trade-offs in the growth of output.

Details

Asian Journal of Economics and Banking, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2615-9821

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Article
Publication date: 28 October 2021

Joaquim Vasconcelos Reinolds de Sousa and Pedro Gamboa

The purpose of this paper is to generate optimised trajectories for an unmanned aerial vehicle (UAV) during a forest fire detection mission. It is assumed that the UAV…

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Abstract

Purpose

The purpose of this paper is to generate optimised trajectories for an unmanned aerial vehicle (UAV) during a forest fire detection mission. It is assumed that the UAV flies 3D curvature-constrained Dubins manoeuvres and has a limited amount of battery energy that prevents it from covering the entire search area in a single trip.

Design/methodology/approach

In this paper, the search area is discretised into a grid of multiple targets, and each target assigned with a score that is proportional to the time elapsed since the last UAV visit. This problem, known as Dubins Airplane Orienteering Problem, consists of finding the number and order of targets to visit and the UAV heading at each target that maximises the total trip score without exceeding the UAV battery energy. The solution is found using the Randomised Variable Neighbourhood Search metaheuristic. All target scores are updated after each trajectory generation according to the elapsed time since the last UAV visit.

Findings

The proposed approach produced feasible results when generating optimised trajectories for a fire detection mission context where energy battery constraints are important.

Practical implications

The authors carry out the planning of UAV missions with limited amounts of onboard energy such as a real fire detection mission using a single electric propulsion and fixed-wing UAV.

Originality/value

This paper introduces an energy-based approach to the Dubins Airplane Orienteering Problem, which takes into account the UAV performance and energy budget when generating optimised trajectories.

Details

Aircraft Engineering and Aerospace Technology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1748-8842

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Article
Publication date: 24 October 2021

Irina Berezinets and Yulia Ilina

This paper aims to deal with the issue of shareholder activism of private equity investors in public companies. The study identifies characteristics of target firms and…

Abstract

Purpose

This paper aims to deal with the issue of shareholder activism of private equity investors in public companies. The study identifies characteristics of target firms and investors related to the likelihood of private equity activism. The research also examines whether shareholder activism strategy of private equity investors is associated with the better performance in future and value creation of target firms.

Design/methodology/approach

The paper applies econometric modeling to hand-collected data on private equity investments in listed companies, in the form of private investment in public equity and open-market share purchases, from eight Continental Europe’s countries for the period 2005–2014.

Findings

The findings indicate that the probability of shareholder activism is higher if the target firm’s industry corresponds to the private equity investor’s industry specialization, if the private equity firm is older, if the target is larger and the average ownership share purchased by the investor is higher. Conversely, the probability of shareholder activism is lower where a private equity firm invests in the target for the first time. A target firm with an activist investor has poorer operational performance results one year following the investment compared to a target firm with a passive private equity investor.

Research limitations/implications

Results from the analysis of transactions in Continental Europe countries with French and German legal origin may be not generalizable to other markets with the different legal tradition and institutional environment.

Originality/value

This research provides new empirical evidence on private equity activism in listed companies of Continental Europe. By distinguishing between active and passive investments, testing rarely considered characteristics to provide valuable insights and analyzing the effect of activism on the target firm’s performance, the study contributes variously to the still-limited body of literature on private equity activism in public companies with a governance structure based on concentrated ownership. The findings emphasize the relationship between shareholder activism and both target and investor’s characteristics from perspective of mitigating agency problem and value creation in target firms. By simultaneously investigating investments in public companies from several European markets, the study complements empirical evidence mostly obtained from studies of a single national market.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

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Article
Publication date: 28 September 2021

Xun Zhang, Jun Wu, Ning Zhang and Biao Xu

The purpose of this paper is to examine the impact of inter-group conflicts on the trust toward the acquirer and then further on cooperation intention after acquisitions…

Abstract

Purpose

The purpose of this paper is to examine the impact of inter-group conflicts on the trust toward the acquirer and then further on cooperation intention after acquisitions in cross-border mergers and acquisitions (M&As), in the lens of the social classification theory. Two types of conflicts (realistic conflicts and symbolic conflicts) and a mediating mechanism (trust toward the acquirer) exhibit different effects on cooperation intention. The research further examines two moderating coping strategies (localizing management and assigning trustworthy expatriate managers) and tests their effectiveness in promoting trust toward the acquirer and increasing cooperation intention in cross-border M&As.

Design/methodology/approach

The research hypotheses were empirically tested in the context of post-acquisition of Chinese companies' cross-border M&As. In total, 600 questionnaires were provided to the research participants of 37 acquired firms/units from advanced economies of 12 Chinese companies, and 209 valid questionnaires were collected (the response rate is 34.83%). Confirmatory factor analysis was conducted to verify data validity and hierarchical multiple regression analyses were employed to test relational and moderating effects.

Findings

This research demonstrates that both realistic and symbolic conflicts can reduce the intention to cooperate, but the latter does not have a significant influence. The results also uncover that whether employees from acquired firms trust in their acquirers mediates the relationship between realistic conflicts and cooperation intention. Moreover, management localization (a measurement of whether local/original managers are retained with a high degree of freedom and autonomy after M&As) and trustworthiness of expatriate managers (a measurement of whether the assigned expatriate managers is trustworthy) positively moderate the relation between realistic conflicts and trust toward the acquirer. In addition, trust toward the acquirer mediates the interaction of realistic conflicts and management localization on the cooperation intention of the acquirers' employees.

Originality/value

This study examines how inter-organizational conflicts influence trust toward the acquirer and then cooperation intentions in the context of Chinese companies' M&A behavior of targets from developed countries and gain supportive evidence, which enriches the literature on the management of international M&As. By introducing two management localization and trustworthiness of expatriate managers into the model, the research deepens our knowledge of how to build trust toward the acquirer in cross-border M&As.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

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Article
Publication date: 11 October 2021

Levi Anderson, Steven Love, James Freeman and Jeremy Davey

This study first aimed to investigate the differences in drug driver detection rates between a trial of randomised and targeted enforcement operations. The second aim was…

Abstract

Purpose

This study first aimed to investigate the differences in drug driver detection rates between a trial of randomised and targeted enforcement operations. The second aim was to identify which indicator categories are most commonly used by police to target drug drivers and to assess the effectiveness of targeted drug testing. Finally, this study aimed to quantify what specific indicators and cues (of the overarching categories) triggered their decision to drug test drivers and which indicators were most successful.

Design/methodology/approach

This research examined the detection rates in a trial comparison of randomised and targeted roadside drug testing (RDT) operations as well as the methods utilised by police in the targeted operations to identify potential drug driving offenders.

Findings

Visual appearance was by far the most commonly utilised indicator followed by age, police intelligence on prior charges, vehicle appearance and behavioural cues. However, the use of police intelligence was identified as the most successful indicator that correlated with positive oral fluid testing results. During the randomised RDT operations, 3.4% of all drivers who were tested yielded a positive roadside oral fluid result compared to 25.5% during targeted RDT operations.

Research limitations/implications

The targeted RDT approach, while determined to be an effective detection methodology, limits the overall deterrent effect of roadside testing in a more general driving population, and the need for a balanced approach to ensure detection and deterrence is required. This study highlights that by focussing on night times for randomised RDT operations and the identified effective indicators for targeted operations, an effective balance of deterrence and detection could be achieved.

Practical implications

While the presence of a single indicator is not indicative of a drug driver, this study highlights for police which indicators currently used are more effective at detecting a drug driver. As a result, police could adapt current RDT procedures to focus on the presence of these indicators to support drug driver detection.

Originality/value

This is a world-first study that examines both randomised and targeted roadside drug testing. This study controls for location and time of day while using the same police unit for roadside testing, thus is able to make direct comparisons between the two methodologies to determine the effectiveness of police targeting for roadside drug testing. Furthermore, this study highlights which indicators used by police results in the highest rate of positive roadside drug tests.

Details

Policing: An International Journal, vol. 44 no. 6
Type: Research Article
ISSN: 1363-951X

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Article
Publication date: 9 September 2021

Xiao Bo Liang, Xinghua Qu, YuanJun Zhang, Lianyin Xu and Fumin Zhang

Laser absolute distance measurement has the characteristics of high precision, wide range and non-contact. In laser ranging system, tracking and aiming measurement point…

Abstract

Purpose

Laser absolute distance measurement has the characteristics of high precision, wide range and non-contact. In laser ranging system, tracking and aiming measurement point is the precondition of automatic measurement. To solve this problem, this paper aims to propose a novel method.

Design/methodology/approach

For the central point of the hollow angle coupled mirror, this paper proposes a method based on correlation filtering and ellipse fitting. For non-cooperative target points, this paper proposes an extraction method based on correlation filtering and feature matching. Finally, a visual tracking and aiming system was constructed by combining the two-axis turntable, and experiments were carried out.

Findings

The target tracking algorithm has an accuracy of 91.15% and a speed of 19.5 frames per second. The algorithm can adapt to the change of target scale and short-term occlusion. The mean error and standard deviation of the center point extraction of the hollow Angle coupling mirror are 0.20 and 0.09 mm. The mean error and standard deviation of feature points matching for non-cooperative target were 0.06 mm and 0.16 mm. The visual tracking and aiming system can track a target running at a speed of 0.7 m/s, aiming error mean is 1.74 pixels and standard deviation is 0.67 pixel.

Originality/value

The results show that this method can achieve fast and high precision target tracking and aiming and has great application value in laser ranging.

Details

Industrial Robot: the international journal of robotics research and application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0143-991X

Keywords

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Article
Publication date: 16 September 2021

Jungwon Lee, Yunhye Lee and Cheol Park

The purpose of this study is to analyze the effect on movie performance of the breadth and depth of consumer groups targeted by movies and to analyze the ways in which…

Abstract

Purpose

The purpose of this study is to analyze the effect on movie performance of the breadth and depth of consumer groups targeted by movies and to analyze the ways in which electronic word-of-mouth (eWOM) mediates these relationships.

Design/methodology/approach

For empirical analysis, 45 days of sales and eWOM data for 63 movies released in Korea in 2017 were collected, and a panel regression analysis was conducted on a total of 2,835 data items. In addition, the analysis was rigorously verified through three robustness tests.

Findings

The breadth and depth of consumer groups targeted by movies have a non-linear relationship with sales, and this relationship is mediated by the eWOM performance of social media websites. In addition, eWOM performance has a non-linear relationship with sales, and these effects differ depending on the type of eWOM platform involved.

Originality/value

The effects of the breadth and depth of the consumer groups targeted by movies on eWOM performance and movie performance have not been sufficiently investigated. This paper expands on previous studies that reported a linear relationship between eWOM and sales by finding that the effects of consumer group breadth and depth on sales are not linear in terms of the mediation of eWOM performance. In addition, a new research direction is suggested by conceptualizing consumer group breadth and depth using eWOM data, on which basis the new concept of eWOM-to-viewing ratio (eWOM ratio) is proposed.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

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