NBER WORKING PAPER SERIES DO SHAREHOLDERS OF ACQUIRING FIRMS GAIN FROM ACQUISITIONS? Sara B. Moeller Frederik P. Schlingemann René M. Stulz Working Paper 9523 http://www.nber.org/papers/w9523 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 February 2003 We are grateful to Harry DeAngelo and Ralph Walkling for useful comments. The views expressed herein are those of the author and not necessarily those of the National Bureau of Economic Research. ©2003 by Sara
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segregation in social class. According to him‚ the relationship between the workers and the capitalists are basically hostile. It is primarily attributed to the people’s diverse and conflicting interests. The proverb‚ “One man’s loss is another man’s gain” is relevant to the worker-capitalist relationship. For instance‚ low wage means a worker can only afford to buy necessities. On the other hand‚ an owner can use the profits he earns (for the work made by the worker minus the worker’s low salary) to
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chance to be what they want to be. Not everyone is provided with an opportunity. I am lucky that I was given one and now I have to do my part by taking advantage of it. I know what I want to be and I’m certain that I want to be a successful computer science major. The moment I knew what I wanted to study in college was when my cousin Jonathan moved in with me and my family. I was eleven years old when Jonathan moved in with us‚ he was twenty years old. I had not made the transition from elementary
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When Did Cyprus Gain Independence From The UK? The Republic of Cyprus gained independence from the UK on August 16‚ 1960. From the word go‚ Cyprus’ independence was going to be thorny issue due to its ethnic composition that includes Turks and Greeks. The London and Zurich Agreements developed a constitution for an independent Cyprus after the February 19‚ 1959 agreement between the UK‚ Turkey and Greece. according to the agreement‚ the UK would maintain two sovereign bases in the country whereas
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world can be. Throughout the novel‚ Scout Gains experience and she is distraught at the fact that Tom Robinson is found guilty at the trial. The journey from innocence to experience is demonstrated in To Kill a Mockingbird with Scouts coming of age. At the beginning of the novel‚ Scout Finch is a 6 year old girl who narrates the story of what took place in her hometown of Maycomb. As she is so young‚ it is clear that often she does not understand what she has seen. However she is an intelligent
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where i come from - elizabeth brewster Discuss the way brewster uses language to convey her ideas about the link between identity and place. The main subject of the poem is the contrast between the city and the countryside where the speaker came from. Although there is no straight forward judgment made‚ the poet very cleverly‚ leaves subtle hints by showing a big difference in the tone of the two stanzas‚ which leads us to believe that she speaks in favour of the countryside‚ yet at the same
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lips are sealed. -Behold‚ I send you out as sheep amidst the wolves. -Pressure‚ it changes everything. Some people‚ you squeeze them‚ they focus. Others fold. -Don’t get too cocky. No matter how good you are. Do not let them see you coming. That is the gaffe. You’ve got to keep yourself small‚ innocuous‚ be the little guy‚ the nerd‚ the leper‚ the shit kicking surfer and underestimated from day one. That is what you are missing. -Stay in the trenches. - The quotes from Eric Jerome Dickey “Wide
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surplus output to the UK at a lower free trade price. At the intermediate price shown in the diagram‚ (the free trade price) Japan sells exports to the UK for a higher price but this is still lower than the UK equilibrium price. Japan receives revenue from the sale of these exports. UK consumers can now buy more camcorders at a lower price and have more choice in the market We are ignoring transportation costs between the two countries and we are assuming that the resources that were previously
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What the experience taught me? Everyone has many different experiences in his or her childhood. One of the experiences might affect him or her whole life. If this deep impression is a good experience‚ you could learn a lesson form it. Even it could change your thinking or cultivates positive values and look at things in a proper way. On the other hand‚ if that deep impression is a bad experience‚ you might start to feel afraid of something or someone. In my case‚ I have an experience I have never
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When asked about myself‚ I would definitely say that I am a kind of person who has predominantly extroverted characteristics. Thanks to my naturally outgoing and sociable characteristics‚ I have been an active volunteer of social work teams for a period of six months. Through field trips and real programs‚ I am able both to improve my weaknesses and sharpen my strengths plus devote myself to helping street children and homeless people. After volunteering at Hope Mission‚ I have learned sympathy and
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