When do vertical mergers create value? This paper studies the market reaction to vertical mergers and explores the many rationales for vertical integration proposed in the industrial organization literature. Abnormal returns for vertical merger announcements are positive until the late 1990s‚ and turn negative afterward. Acquirers suffer most of the losses. We find support for the most fundamental insight in the industrial organization literature‚ namely‚ that vertical mergers generate the greatest
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Knowledge is very powerful. We decide whether we want to know something or not. I disagree with the statement that the lack of knowledge can’t hurt you. The true knowledge often hurts; however it doesn’t mean that lack of it can’t hurt. Why can lack of knowledge be harmful and hurt us? Let’s start from a simple fact like not studying for a test or a quiz may or will result in a bad grade. Not knowing the material that we are studying can and will hurt us. General knowledge in a society is very important
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How do you define happiness? Prepared for: Mr. Rotella as a requirement for Composition I Prepared by: Kaitlyn Stewart 10/06/2014 Webster’s Dictionary defines happiness as “feeling pleasure and enjoyment because of your life‚ or situation”‚ when in reality it is much more. Happiness can be achieved in many ways‚ but once one a person fails they cease to try again. That failure holds them back from achieving the happiness that they deserve. Achieving happiness can be an easy task if you look
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the two world class universities in this country. Along with the perfect for-learning instruments‚ the students enrolled in overseas courses are from various countries‚ which creates a mutual learning atmosphere. Studying with talented friends helps you mix well with other cultures. Moreover‚ the teaching staff here is superior to those in other Asia-Pacific schools and even have the same training competence in the US and Great Britain. The professors in Singapore colleges have different nationalities
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VALUES AND LIFESTYLE OF THE “HIPPIES” Origins and Beliefs of the Hippies. The 1960s counterculture movement was comprised of the baby boomers who had grown into their teenage and young adult years in the 1960s‚ so they were often found in large numbers. The people involved were youths of America who were typically Caucasian‚ white‚ and middle-class‚ with ages ranging from fifteen to twenty-five. However‚ the conformity and peaceful times of the 1950s were not enough for their children‚ who were ambitious
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"What do you call an intelligent blonde? A Golden Retriever." What a typical example of a blonde joke known by almost everyone. Yet‚ are these jokes‚ based on unfounded premises‚ such entertaining? Why is it so rare to hear jokes of this sort about brunettes? Does this fact have anything to do with the so-called "dumb blondes stereotype"? Furthermore‚ how many of natural blondes‚ or to say "fair-hair" women or men exist? According to scientists‚ the population of blondes is declared to be 1.8 to
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LR 1: The limitations of the helping role 1.1 Helping fits into a wider supporting network as when a client is going through change or having dilemmas in their everyday life they tend to seek counselling of some sort‚ during these they would identify the issues causing or have caused distress in their daily life. There are many forms of helping work and are used in many professions as an extra skill or as the main skill‚ careers advisors and General practitioners provide different types of support
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People say that you should live in the moment. They say that life isn’t measured by the amounts of breaths we take‚ but by the moments that takes our breath away. The first time you hear those sayings‚ they probably sound like two nice‚ motivational couple of words‚ and then you don’t think about it anymore. But if you take a second look‚ and really think about the meaning about it‚ they become something so much deeper. And that’s what I experienced this day. Every weekend I take the train to visit
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“What do we do with Howard?” Synopsis: Tad Pierson had recently been appointed as a project engineer. As project engineer for one of Agrigreen’s plants‚ he is responsible for the operation of the plant surveying group. For some time now Tad had been aware of some performance‚ safety‚ and conflicts with personnel within the group. These issues appear to be escalating in frequency and are causing Tad concern regarding the safety of the employees‚ the production schedules‚ and possible actions
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6. What do you think is the biggest problem facing the world today? I would say greed and ignorance is the biggest problem facing the world today. It is an aspect of human nature and seemingly intractable. I don’t expect the mass of humanity to undergo spiritual transformation to amend these aspects. However I do think that in order for problems to be solved such as objective conditions e.g. war and poverty‚ there has to be a change in social ethos- that of which is generally considered desirable
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