Looking into the ‘black box’ – unlocking the effect of integration on acquisition performance

Extending research on the performance of Mergers and Acquisitions (M&As), this paper seeks to explain how the post-acquisition integration phase affects acquisition performance. Despite extensive research efforts, there remains a scant understanding of how acquisition implementation, particularly in the post-acquisition integration phase, impacts the performance of M&As. Based on an extensive study of eight acquisitions, in this paper, a grounded model detailing the mechanisms by which the post-acquisition integration phase affects acquisition performance is developed. The model posits that integration-related factors do not bear directly upon acquisition performance. Instead, their effect is mediated by functional organizations in both firms. When focusing into these functional mediating dynamics, we observe that integration-related processual, behavioral and cultural factors affect the identified functional mediators in different ways. Going forward, we echo calls for integrated perspectives to the study of M&A and M&A performance in particular.     

Another Remark on the Alternative Expectation Formula

Students in a calculus-based probability course will often see the expectation formula for nonnegative continuous random variables in terms of the survival function. This alternative expectation formula has a wide spectrum of applications. It is natural to ask whether there is a multivariate version of this formula. This note gives an affirmative answer by establishing such a formula using two different approaches. The two approaches employed in this note correspond to the two approaches for the univariate case. Supplementary materials for this article are available online.     

Chinese Rural Health-Seeking Behaviour and the Dilemma of Sufferers of Chronic Sickness: A Case Study from Inner Mongolia

Chinese society is entering a ‘period of chronic sickness’, especially hypertension, hyperglycemia and hyperlipidemia, resulting from a more easily available diet rich in animal fat and protein. The damage is greatest in rural areas where medical and welfare facilities are limited and patients present late, which they justify as needing to continue farming despite sickness. Thus, contrary to Parsons’s observation regarding Western medical treatment, a patient’s sick role is neither ‘deviant’ nor separated from their everyday social role and lifestyle. Villagers might however be officially encouraged to regard biomedical, religious and traditional folk therapies as neither old-fashioned nor in conflict, but as a spectrum providing emotional/psychological and sometimes physical benefit, reinforced by returning to the greater community and family care existing before village social fragmentation. This recreation of a holistic perspective could enhance the quality of rural life, especially of chronic sickness sufferers.     

故土与远方:王金庄村道路的分界与融合

河北涉县旱作梯田系统位于太行山东麓,当地生态脆弱,地势复杂,却保持近 800 年的稳定发展。 王金庄村位于系统核心区,文章通过对其村落道路进行民族志的描述,揭示道路在空间与功能上的分类,推动了本土知识的形塑;在此基础上,村民共有的修路技巧与记忆则构成社会网络,促进了村落文化的融合。 道路是乡村与城市的分界,也是故土与远方的联结;是传统与现代的分割,也是本土知识与现代知识的融合。 以道路为核心的社会网络,是村落在现代化过程中应对风险的源头活水,是实现村落稳定的平衡点,更是实现村落永续发展的内生性力量。     

基于工匠精神的高校创新人才培养路径研究

“专注、敬业与创新”是工匠精神的灵魂所在,同时也是高校创新人才的培养方向,而创新精神更是工匠精神的核心要义。从工匠精神本质内涵出发,针对高校创新型人才培养存在的问题,明确高校人才培养的方向与实施路径,具有一定的现实意义。     

多空间概念整合模型和古诗词中声音意象的英译

Fauconnier提出的四空间概念整合模型只是相对的,其中间空间可能成为下一个环节上的输入空间,产生新的合成空间和新的类属空间,从而完成整个语篇的意义合成。译者在理解汉语古诗词声音意象的过程中,可以通过创建四空间概念整合模型,在此基础上拓展的七空间概念整合模型、十一空间概念整合模型,分别建构出声音意象的字面意义、联想意义和多重意义;在表达的过程中,译者可以创建四空间概念整合模型,通过分析原文空间的元素与译者空间的元素是否存在对应关系以及原文空间和译者空间的元素在译文空间的投射情况,采取对译法、直译法、意译法、直译+意译法在译文空间合成译文,使得译文在译入语读者脑海中激活与原文读者脑海中类似的联想,从而产生相同的感受。     

多民族国家的文化整合:历史经验与实践的再审视

多民族国家的文化整合具有重要的政治意义。整合的目的在于创造共同的文化归属感、构建共同的民族认同感以及培育共有的民族精神。为实现这一目标,多民族国家都在探寻适合本国特点的文化整合策略和模式,包括自上而下型整合和自下而上型整合;强制性整合与诱致性整合;制度化整合与非制度化整合等。     

中国产业低碳化转型与战略思路

目前,全球重化工业等高碳产业在发展中国家的集聚度不断提高。作为发展中国家的中国,正处于工业化、城市化和市场化的发展过程中,资源环境与经济发展的矛盾十分突出,高碳经济特征十分明显。如何使中国产业向低碳化转型是目前我国学术界及产业界热烈探讨的问题。从中国产业低碳化转型路径的角度,解析中国产业面临的高碳困境,并在对中国产业低碳化转型进行分析的基础上给出了应对的战略思考。     

关于“报纸消亡”四种论说的再思考

在新媒体得到迅速发展的今天,报纸消亡论再次引发人们的关注,关于报纸消亡论的经验说、融合说、两分说和发展说等四种不同的观点有一定的道理,但是由于其存在路径依赖现象,在今天的时代尚需进一步判断与思考。     

新乡村工业化中的生产组织方式创新——兼论新产业区的起源和演进

新产业区是20世纪70年代以来新乡村工业化的成功模式。与传统工业化过程中形成的以追求规模和范围经济为目的的大规模生产方式不同,新产业区强调柔性生产和持续创新。因而,新产业区在本质上是生产组织方式的创新,是对大规模生产的替代。新产业区的兴起和发展打破了传统发展经济学城乡二元结构和乡村发展依附城市的观点,表明20世纪70年代以来的新乡村工业化和乡村经济发展并不依赖城市,而是内生或相对独立的,拥有自身独特的发展路径。在新乡村工业化过程中,乡村经济的自组织所呈现出的报酬递增和路径依赖,构成了新产业区形成和发展的基本特征和内在机制。对新产业区起源和演进的历史条件和内在机制的理论分析,将有助于我们更深入地思考中国新农村建设中的相关问题。