The role of investment banks in acquisitions

We compare acquisitions completed with and without investmentbank advice over the 1981 to 1982 period. We find that the choiceto use an investment bank depends on the complexity of the transaction,the type of transaction (takeovers versus acquisitions of assets),the acquiror's prior acquisition experience, and the degreeof diversification of the target firm. Although acquisitionannouncement returns are lower for firms using investment banks,this difference can be explained by differences in transactioncharacteristics. These results suggest that transaction costsare the main determinant of investment banking choice, followedby contracting costs and asymmetric information costs.     

PLANNING MULTIPLE LOCATION INVENTORIES

Supplying customer demand from comparable alternate inventory locations when an item is out of stock at its primary stocking point creates a virtual inventory for that item. The expectation is that if more inventories can be drawn upon, the inventory for an item would be lower, the fill rate would be higher, or both. While generally true that safety stocks will be lower, regular stocks, on the other hand, may rise with such cross filling of demand. In this study, a methodology is developed that balances the cross filling effects on both regular and safety stocks for determining whether an inventoried item should be cross‐filled. An example and guidelines are given to show how the methodology can be simplified and applied in practice.     

RELATIONSHIP MAGNITUDE AND ITS ROLE IN INTERORGANIZATIONAL RELATIONSHIP STRUCTURE

Close relationships between and among supply chain members are becoming more prevalent. However, there is lack of agreement in the literature and in practice concerning the characteristics of different interorganizational relationships. The resultant confusion is an obstacle to the progression of research and could cause problems among firms in a supply chain. Based on previous research and an exploratory study conducted with company executives responsible for supply chain management activities, this article seeks to introduce the concept of relationship magnitude (i.e., the extent or degree of closeness or strength of the relationship) and differentiate it from relationship type (i.e., classes of relationships that share common traits). Implications for managers and opportunities for future research are provided.     

Use of minimum risk approach in the estimation of regression models with missing observations

This article considers a linear regression model with some missing observations on the response variable and presents two estimators of regression coefficients employing the approach of minimum risk estimation. Small disturbance asymptotic properties of these estimators along with the traditional unbiased estimator are analyzed and conditions, that are easy to check in practice, for the superiority of one estimator over the other are derived. Received May 2001     

TWO READINGS AND AN EPILOGUE: A COMMENTARY ON THE VOICE OF SEDUCTION IN MYNATTET AL.

Two readings are made of Mynatt, Omundson, Schroeder and Stevens (pp. 657–683). The first reading views the paper through a largely “conventional” social science lens, while the second adopts a more critical perspective which raises three issues: abstraction in research; gender and ethnicity; and the rhetoric of research.     

基于公用GSM网的数据传输系统的设计与应用

文章分析了无线数据传输的工作原理,给出了利用公用GSM网络的SMS功能进行数据传输的实现方案,介绍了基于单片机系统的的远程无线温度采集传输系统,具体包括:电路设计、软件流程、测试结果。此系统设计采用了Dallas的数字温度传感器DS18B20和SMS模块,采用太阳能电池供电,适合于野外环境使用。     

美元汇率周期及美元走势分析

本文首先研究了美元汇率的波动情况,指出美元汇率呈周期波动,并分析了引起这种周期波动的长期因素和短期因素。在此基础上,结合目前美国的经济现状,对美元近期和长期的走势进行了分析得出美元短期小幅看涨,长期走势较为平稳的结论。     

公用事业市场化的国际经验

传统上，全世界的公用事业大都是由政府直接投资，垄断经营的。20世纪80年代以来，一些国家开始了公用事业民营化进程。需要特别说明的是，特许经营只是民营化的一种形式，但是这种形式目前使用最为广泛，得到多数国家的认可。