Hospital Mergers and Antitrust: Some Economic and Legal Issues

A bstract The article traces the development of the market for hospital services through evolutionary stages to the present emphasis on merger and consolidation. Examination of the traditional principles of antitrust analysis suggests they are sufficiently flexible to warrant their application in evaluating the competitive impact of hospital mergers.     

The Character of American Workers: Psychological Predictors of Union Interest as Tools for American Union Practitioners

To aid American union practitioners in the selection of winnable worksites in unionization elections, we identified predictors of union interest from psychological perspectives that bear on the character of American workers. Using perceived union instrumentality as a standard to determine the prediction status of new psychological predictors of union interest, a cognitive version of self-enhancement (overconfidence in rating one??s skills and abilities) was found to predict interest above and beyond perceived instrumentality in a sample of American nonunion employees (N?=?452), controlling for social desirability, demographic and structural predictors, and other hypothesized predictors in a six-step hierarchical regression equation. Implications for selecting winnable election worksites and for predicting psychological aspects of union interest are discussed.     

Humiliation at Work and Union Interest: An Empirical Analysis of Community Union Satisfaction as Related to Status Enhancement

How noneconomic benefits claimed by labor unions relate to union interest is not well articulated. Based on Torres and Bergner’s (Journal of the American Academy of Psychiatry and the Law, 38, 195–204, 2010; Psychotherapy, 49, 492–501, 2012) analysis of severe public humiliation, in which status enhancement underlies recovery, we examined an augmented relationship between humiliation at work (the underside of dignity at work) and willingness to join a union. As hypothesized, nonunion employees who were less detached from work showed more willingness to join when presented with evidence that members of a union were satisfied with community aspects of membership related to status enhancement above and beyond their satisfaction with economic aspects. Implications for union interest research and applications are discussed.     

The Credit View, Old and New

Recent writings in the so-called 'credit view' focus on binding finance constraints of macroeconomic activity which arise from the incomplete substitutability of bank credit and from changes in borrowers' net worth. They criticize the standard approaches in the 'money view' for not taking full account of the observable effects of monetary restrictions on real activity. In this paper, the 'new credit view' is contrasted with older macroeconomic theories that placed special emphasis on the banks' systemic potential to expand credit beyond planned saving. The comparative discussion of the underlying arguments about bank behaviour, about the non-neutrality of credit money, and about the transmission of monetary policy impulses reveals some shortcomings in the new view. History helps, moreover, to set the conventional confrontations of the 'credit view' and the 'money view' in perspective. JEL-classification: B22, E32, E44, E51, E52     

关于剖面图中几个问题的讨论与建议

对ＧＢ４４５８．１－８４《机械制较 图样画法》中剖面图的判别、简化画法、标准存在的问题进行研究，并提出修改建议。     

Fear of Reprisal for Disclosing Union Interest: Assessing the Effectiveness of Perceived Anti-Unionism

We modeled a macro-level relationship at a micro-level level to examine the effectiveness of anti-unionism in psychological terms. We reasoned that fear of reprisal for disclosing union interest in the work environment was an affective response to perceived anti-unionism and hypothesized that fear of reprisal would disrupt the prediction of expression of this interest among nonunion employees (N = 1,010). With financial strain as a predictor of interest and fear of reprisal as a moderator, disruption was found. The results of the model are discussed in terms of the unintended consequences of anti-unionism, which, we argue, can include stress effects among employees and healthcare cost effects among employers.     

Synergies and Internal Agency Conflicts: The Double-Edged Sword of Mergers

This paper investigates the interaction between synergies and internal agency conflicts that emerges endogenously in multi-division firms. A divisional manager's entrenchment choice depends directly on the specificity of her division's assets, because the specificity governs whether entrenchment activities reduce the likelihood of her division being divested. The presence of synergies, by modifying the difference between the value of assets in their current use and in alternative uses, may alter the divisional manager's entrenchment incentive. In "the double-edged sword of mergers," synergy and internal agency effects are of opposite sign and merger gains may not be increasing in expected synergies. We characterize when divisions should optimally stand alone and when they should be part of a merged firm. We predict an absence of diversifying mergers in industries plagued by misdeployed assets, offer a novel explanation for the cross-sectional variation in postmerger valuation, and explain why mergers may be valuable ex ante while leading to successful divestitures ex post.     

Union Coverage Differentials. Some Estimates for Britain Using the New Earnings Survey Panel Dataset

This paper reports individual-level estimates of union/non-union wage differentials, using coverage information from the New Earnings Survey Panel Dataset. There are no existing panel estimates for the United Kingdom. Of a number of findings, the more important are (i) fixed-effects estimates are about one-half the equivalent cross-section estimates; (ii) the biggest differentials are for ‘company/district/local only’ agreements; and (iii) the differential is counter-cyclical. Also the effect of the 1979/82 recession was probably dampened by anti-union legislation, and the upward trend between 1975 and 1995 is due to the decentralization of collective pay bargaining.     

《比例》新旧国标的区别

从ＧＢ／Ｔ１４６９０－１９９３《技术制图 比例》新国家标准出发,对照旧国家标准ＧＢ４４５７．２《机械制图 比例》,分析了新旧标准的不同。     

旧城改造与新区建设比较研究——基于政府视角

文章分析了在城市土地利用允许建新区的情况下,旧城改造与新区建设中相关主体的成本与收益,并对相关主体的成本与收益进行比较.政府作为城市的经营者和管理者,是旧城改造与新区建设的决定者及相关政策的制定者,其决策的决定主要取决于政府的成本收益,进而从博弈论的角度分析得出政府热衷建新区的结论.如何改变这种状况,需要由城市管理向城...     

Monopolies and Mergers: An MMC Perspective

What is the function of the Monopolies and Mergers Commission? Sydney Lipworth, the chairman or the Monopolies and Mergers Commission, explains the functions of the Commission.     

表面粗糙度标注新旧标准的区别

从ＧＢ／Ｔ１３１－９３《机械制图表面粗糙度符号、代号及其标注》国家标准的宣贯出发，对新旧国家标准的不同之处进行了分析。     

Trade Liberalization and Industrial Restructuring: The Role of Cross-Border Mergers and Acquisitions

This paper analyzes industry adjustments to trade liberalization. It introduces cross-border mergers and acquisitions (M&A) as an alternative mode of industrial restructuring to firms' exit. In a two-country Cournot model, we examine the responses of domestic and foreign firms endowed with different technologies for different stages of trade openness. It is found that the less efficient firm loses market shares in its home market at the beginning of trade liberalization. Only for a more advanced level of liberalization, does it take advantage of a larger access to foreign demand. Trade liberalization may therefore harm its profits too strongly, forcing it to leave the market. However, although its incentives decrease with trade liberalization, the high-technology firm may be willing to take it over for low organizational and technological costs of firms' integration. In addition, it may buy it out even if the less efficient firm manages to stay. Then, trade liberalization affects M&A incentives depending on the technological gap. For low and high (medium) gap, there is an inverted U- (W-) shaped relation between trade costs and incentives to merge. Moreover, although technology transfer is assumed to be complete, M&A may lead to a reduction in consumers' welfare. Firms may capture some pro-competitive gains from economic openness. Lastly, an empirical analysis based on a data set of OECD members' multinationals gives some support to these theoretical predictions.     

Breaking New Ground: Social Movement Theory and the Cincinnati Union Co-ops

Employee Responsibilities and Rights Journal - This article provides a case study, based on original author research, about the start of the union co-op movement in Cincinnati a decade ago. The...