How do cross-border mergers and acquisitions affect firms’ management and stakeholders? Part 2

The effect of mergers and acquisitions (M&A) on different stakeholders is dependent on a number of factors. These factors can include but are not limited to: the type of M&A; each firm's reasons for the M&A; the offer amount; the product market of both the acquirer and target firms; the political environment; the economic environment; and the current situation of each firm. Employees play a significant role in businesses in which employee satisfaction affects the quality and quantity of business output. Firms interested in embarking on cross-border mergers have new employees to manage and must determine an appropriate wage to match the level of productivity of target employees. Wages may need to be altered as a result of employee relocation; employee compensation can be a complex matter, as the cost of living in each area varies greatly.

Multi-area decentralized optimal VAr planning using the Dantzig-Wolfe decomposition principle

This paper presents a new methodology for solving the optimal VAr planning problem in multi-area electric power systems, using the Dantzig-Wolfe decomposition. The original multi-area problem is decomposed into subproblems (one for each area) and a master problem (coordinator). The solution of the VAr planning problem in each area is based on the application of successive linear programming, and the coordination scheme is based on the reactive power marginal costs in the border bus. The aim of the model is to provide coordinated mechanisms to carry out the VAr planning studies maximizing autonomy and confidentiality for each area, assuring global economy to the whole system. Using the mathematical model and computational implementation of the proposed methodology, numerical results are presented for two interconnected systems, each of them composed of three equal subsystems formed by IEEE30 and IEEE118 test systems. © 2011 IEEE.

Distribution of phlebotomine fauna (Diptera: Psychodidae) across an urban-rural gradient in an area of endemic visceral leishmaniasis in northern Brazil

The number of visceral leishmaniasis (VL) cases has increased over the past 10 years in Brazil, especially in the North and Northeast regions of the country. The aim of this study was to evaluate the urbanisation of VL vectors in Barcarena, Pará, an area in northern Brazil where VL is endemic. Sandflies were captured using Centers for Disease Control (CDC) light traps along an urban-rural gradient. The CDC traps were installed inside hen houses at a height of 150 cm. A total of 5,089 sandflies were collected and 11 species were identified. The predominant species was Lutzomyia longipalpis (rate of 95.15%), which suggests its participation in the transmission of VL. A total of 1,451 Lu. longipalpis females were dissected and no Leishmania infections were detected. Most of the sandflies were captured at the border of a forest (88.25%) and no flies were captured in the urban area, which suggests that transmission is still restricted to rural sites. However, the fact that a specimen was collected in an intermediate area indicates that urbanisation is a real possibility and that vector monitoring is important.

Three new species of Lebiasina (Characiformes: Lebiasinidae) from the Brazilian Shield border at Serra do Cachimbo, Para, Brazil

Lebiasina marilynae n. sp., L. melanoguttata n. sp., and L. minuta n. sp. are described from the headwaters of the rio Curua in Serra do Cachimbo, Para, Brazil, and represent the only members of the Lebiasininae in the Brazilian Shied, so far. A close relationship among these species is proposed based on: I) the presence of a pair of foramina through which the rain us palatinus of the facial nerve passes, a modification unique in Lebiasinidae and apparently in the Characiformes, 2) the enlargement of the extrascapular bone, 3) the absence of the secondary stripe, and 4) the nearly equal length of caudal-fin lobes. Lebiasina marilynae additionally differs from all congeners in having the primary stripe extending from the tip of the snout to the distal border of the caudal-fin peduncle, the possession of two series of dark blotches parallel to the primary stripe, and a rounded dorsal surface of the mesethmoid. Lebiasina melanoguttata and Lebiasina minuta additionally differ from all congeners in the absence of the primary stripe and the caudal blotch, and the presence of three longitudinal series of dark blotches at the base of the scales of series 3-5. Lebiasina melanoguttata differs from Lebiasina minuta in the absence of a dark blotch at the base of the median rays of the dorsal fin, second infrapharyngobranchial bearing conical teeth, the reddish overall coloration of the eye and fins, and the dark blotches never coalescing (vs. dark dorsal-fin blotch present; the second infrapharyngobranchial being edentulous; dark, olive green eyes, and the yellowish overall color of body and fins; and the dark blotches of longitudinal series 3 and 4 coalescing where scales of adjacent longitudinal series overlap). The occurrence of species of the Lebiasininae on the Brazilian Shield is discussed, and the distribution pattern of the species described herein is compared to that of other endemic species of the Serra do Cachimbo, a highly biodiverse area isolated from the rest of the Amazon basin.

Three new species of Lebiasina (Characiformes: Lebiasinidae) from the Brazilian shield border at Serra do Cachimbo, Pará, Brazil

Lebiasina marilynae n. sp., L. melanoguttata n. sp., and L. minuta n. sp. are described from the headwaters of the rio Curuá, in Serra do Cachimbo, Pará, Brazil, and represent the only members of the Lebiasininae in the Brazilian Shied, so far. A close relationship among these species is proposed based on: 1) the presence of a pair of foramina through which the ramus palatinus of the facial nerve passes, a modification unique in Lebiasinidae and apparently in the Characiformes, 2) the enlargement of the extrascapular bone, 3) the absence of the secondary stripe, and 4) the nearly equal length of caudal-fin lobes. Lebiasina marilynae additionally differs from all congeners in having the primary stripe extending from the tip of the snout to the distal border of the caudal-fin peduncle, the possession of two series of dark blotches parallel to the primary stripe, and a rounded dorsal surface of the mesethmoid. Lebiasina melanoguttata and Lebiasina minuta additionally differ from all congeners in the absence of the primary stripe and the caudal blotch, and the presence of three longitudinal series of dark blotches at the base of the scales of series 3-5. Lebiasina melanoguttata differs from Lebiasina minuta in the absence of a dark blotch at the base of the median rays of the dorsal fin, second infrapharyngobranchial bearing conical teeth, the reddish overall coloration of the eye and fins, and the dark blotches never coalescing (vs. dark dorsal-fin blotch present; the second infrapharyngobranchial being edentulous; dark, olive green eyes, and the yellowish overall color of body and fins; and the dark blotches of longitudinal series 3 and 4 coalescing where scales of adjacent longitudinal series overlap). The occurrence of species of the Lebiasininae on the Brazilian Shield is discussed, and the distribution pattern of the species described herein is compared to that of other endemic species of the Serra do Cachimbo, a highly biodiverse area isolated from the rest of the Amazon basin.

Evolution of the Southern Kenya Rift from Miocene to present with a focus on the Magadi area

The Kenya (a.k.a., Gregory) Rift is a geologically active area located within the eastern branch of the larger East African Rift System (EARS). The study area is located in the southern Kenya Rift between 1° South and the Kenya-Tanzania border (covering approximately 1.5 square degrees, semi-centered on Lake Magadi) and is predominantly filled with extrusive igneous rocks (mostly basalts, phonolites and trachytes) of Miocene age or younger. Sediments are thin, less than 1.5Ma, and are confined to small grabens. The EARS can serve both as an analogue for ancient continental rifting and as a modern laboratory to observe the geologic processes responsible for rifting. This study demonstrates that vintage (as in older, quality maps published by the Kenya Geological Survey, that may be outdated based on newer findings) quarter-degree maps can be successfully combined with recently published data, and used to interpret satellite (mainly Landsat 7) images to produce versatile, updated digital maps. The study area has been remapped using this procedure and although it covers a large area, the mapping retains a quadrangle level of detail. Additionally, all geologic mapping elements (formations, faults, etc.) have been correlated across older map boundaries so that geologic units don't end artificially at degree boundaries within the study area. These elements have also been saved as individual digital files to facilitate future analysis. A series of maps showing the evolution of the southern Kenya rift from the Miocene to the present was created by combining the updated geologic map with age dates for geologic formations and fault displacements. Over 200 age dates covering the entire length of the Kenya Rift have been compiled for this study, and 6 paleo-maps were constructed to demonstrate the evolution of the area, starting with the eruption of the Kishalduga and Lisudwa melanephelinites onto the metamorphic basement around 15Ma. These eruptions occurred before the initial rift faulting and were followed by a massive eruption of phonolites between 13-10 Ma that covered most of the Kenya dome. This was followed by a period of relative quiescence, until the initial faulting defined the western boundary of the rift around 7Ma. The resulting graben was asymmetrical until corresponding faults to the east developed around 3Ma. The rift valley was flooded by basalts and trachytes between 3Ma and 700ka, after which the volcanic activity slowed to a near halt. Since 700ka most of the deposition has been comprised of sediments, mainly from lakes occupying the various basins in the area. The main results of this study are, in addition to a detailed interpretation of the rift development, a new geologic map that correlates dozens of formations across old map boundaries and a compilation of over 300 age dates. Specific products include paleomaps, tables of fault timing and displacement, and volume estimates of volcanic formations. The study concludes with a generalization of the present environment at Magadi including discussions of lagoon chemistry, mantle gases in relation to the trona deposit, and biology of the hot springs. Several biologic samples were collected during the 2006 field season in an attempt to characterize the organisms that are commonly seen in the present Lake Magadi environment. Samples were selected to represent the different, distinctive forms that are found in the hotsprings. Each sample had it own distinctive growth habit, and analysis showed that each was formed by a different cyanobacterial. Actual algae was rare in the collected samples, and represented by a few scattered diatoms.

Drinking water quality perception along the U.S.-Mexico border

Drinking water-related exposures within populations living in the United States-Mexico border region, particularly among Hispanics, is an area that is largely unknown. Specifically, perceptions that may affect water source selection is an issue that has not been fully addressed. This study evaluates drinking water quality perceptions in a mostly Hispanic community living along the United States-Mexico border, a community also facing water scarcity issues. Using a survey that was administered during two seasons (winter and summer), data were collected from a total of 608 participants, of which 303 were living in the United States and 305 in Mexico. A (random) convenience sampling technique was used to select households and those interviewed were over 18 years of age. Statistically significant differences were observed involving country of residence (p=0.002). Specifically, those living in Mexico reported a higher use of bottled water than those living in the United States. Perception factors, especially taste, were cited as main reasons for not selecting unfiltered tap water as a primary drinking water source. Understanding what influences drinking water source preference can aid in the development of risk communication strategies regarding water quality. ^

Predictors of diagnostic delay among tuberculosis patients in a U.S.-Mexico border community

Delays in diagnosis of pulmonary tuberculosis have detrimental effects on the health of the ailing patient as well as the people around him or her. These effects are magnified in highly-travelled parts of the world. Identifying factors predictive of diagnostic delay is challenging, as these vary widely by culture and geography. Predictors of delay for tuberculosis patients living in the Northeastern Mexican city of Matamoros, a binationally-transited area, have yet to be described. Using secondary analysis of a retrospective survey, this study sought to identify predictors of diagnostic delay in a sample of culture-positive tuberculosis patients in Matamoros. Sociodemographic, behavioral, and health-related factors were measured and compared. Using bivariate and step-wise regression analyses at an alpha level of 0.05, the author found the following to be statically significant predictors for this sample (R 2=0.171): prior treatment of diabetes, recurrence of tuberculosis, and having ever used cocaine. A question assessing knowledge of immunocompromised subgroups was also identified as a predictor, although its implications are unclear. Notably, the instrument did not distinguish between patient and health system delay. In summary, more research should be conducted in the Matamoros area in order to fully understand the dynamics of delayed diagnosis and its application to public health practice.^

A community-based assessment of the spatiotemporal distribution of influenza in a U.S.-Mexico border county during the spring 2009 novel H1N1 swine-origin influenza A pandemic

This study retrospectively evaluated the spatial and temporal disease patterns associated with influenza-like illness (ILI), positive rapid influenza antigen detection tests (RIDT), and confirmed H1N1 S-OIV cases reported to the Cameron County Department of Health and Human Services between April 26 and May 13, 2009 using the space-time permutation scan statistic software SaTScan in conjunction with geographical information system (GIS) software ArcGIS 9.3. The rate and age-adjusted relative risk of each influenza measure was calculated and a cluster analysis was conducted to determine the geographic regions with statistically higher incidence of disease. A Poisson distribution model was developed to identify the effect that socioeconomic status, population density, and certain population attributes of a census block-group had on that area's frequency of S-OIV confirmed cases over the entire outbreak. Predominant among the spatiotemporal analyses of ILI, RIDT and S-OIV cases in Cameron County is the consistent pattern of a high concentration of cases along the southern border with Mexico. These findings in conjunction with the slight northward space-time shifts of ILI and RIDT cluster centers highlight the southern border as the primary site for public health interventions. Finally, the community-based multiple regression model revealed that three factors—percentage of the population under age 15, average household size, and the number of high school graduates over age 25—were significantly associated with laboratory-confirmed S-OIV in the Lower Rio Grande Valley. Together, these findings underscore the need for community-based surveillance, improve our understanding of the distribution of the burden of influenza within the community, and have implications for vaccination and community outreach initiatives.^

Performance of HbA1c for classifying diabetes and diagnostic threshold for diabetes among the Mexican American border community

Objective. In 2009, the International Expert Committee recommended the use of HbA1c test for diagnosis of diabetes. Although it has been recommended for the diagnosis of diabetes, its precise test performance among Mexican Americans is uncertain. A strong “gold standard” would rely on repeated blood glucose measurement on different days, which is the recommended method for diagnosing diabetes in clinical practice. Our objective was to assess test performance of HbA1c in detecting diabetes and pre-diabetes against repeated fasting blood glucose measurement for the Mexican American population living in United States-Mexico border. Moreover, we wanted to find out a specific and precise threshold value of HbA1c for Diabetes Mellitus (DM) and pre-diabetes for this high-risk population which might assist in better diagnosis and better management of patient diabetes. ^ Research design and methods. We used CCHC dataset for our study. In 2004, the Cameron County Hispanic Cohort (CCHC), now numbering 2,574, was established drawn from randomly selected households on the basis of 2000 Census tract data. The CCHC study randomly selected a subset of people (aged 18-64 years) in CCHC cohort households to determine the influence of SES on diabetes and obesity. Among the participants in Cohort-2000, 67.15% are female; all are Hispanic. ^ Individuals were defined as having diabetes mellitus (Fasting plasma glucose [FPG] ≥ 126 mg/dL or pre-diabetes (100 ≤ FPG < 126 mg/dL). HbA1c test performance was evaluated using receiver operator characteristic (ROC) curves. Moreover, change-point models were used to determine HbA1c thresholds compatible with FPG thresholds for diabetes and pre-diabetes. ^ Results. When assessing Fasting Plasma Glucose (FPG) is used to detect diabetes, the sensitivity and specificity of HbA1c≥ 6.5% was 75% and 87% respectively (area under the curve 0.895). Additionally, when assessing FPG to detect pre-diabetes, the sensitivity and specificity of HbA1c≥ 6.0% (ADA recommended threshold) was 18% and 90% respectively. The sensitivity and specificity of HbA1c≥ 5.7% (International Expert Committee recommended threshold) for detecting pre-diabetes was 31% and 78% respectively. ROC analyses suggest HbA1c as a sound predictor of diabetes mellitus (area under the curve 0.895) but a poorer predictor for pre-diabetes (area under the curve 0.632). ^ Conclusions. Our data support the current recommendations for use of HbA1c in the diagnosis of diabetes for the Mexican American population as it has shown reasonable sensitivity, specificity and accuracy against repeated FPG measures. However, use of HbA1c may be premature for detecting pre-diabetes in this specific population because of the poor sensitivity with FPG. It might be the case that HbA1c is differentiating the cases more effectively who are at risk of developing diabetes. Following these pre-diabetic individuals for a longer-term for the detection of incident diabetes may lead to more confirmatory result.^

Pollen profiles from three former lakes in the Lake Garda area

1. Late glacial and postglacial sediments from three former lakes in the Lake Garda area (Southern Alps) were investigated. 2. The pollen diagram from Bondone (1550 m) shows an older phase rich in NAP. A younger one corresponds with the Younger Dryas time according to two radiocarbon determinations. In the Preboreal no climatic deterioration could be found. 3. At first plants, which are nowadays typical for snow-ground, pioneer and dwarf shrub associations, immigrated into the surroundings of Bondone. In Alleröd times larch and pine appeared as the first trees. At the beginning of the Preboreal dense forest existed in that region. During the Alleröd timber line was at about 1500 m. 4. In the pollen diagrams from Saltarino (194 m) and Fiavè (654 m) an oldest period rich in NAP is followed by two stadial and two interstadial phases. Tree birches and larches immigrated during the oldest interstadial phase. 5. In the case of Saltarino and Fiavè only a preliminary dating could be made. A correlation seems to be possible with diagrams published by Zoller as well as with the diagram of Bondone. Discrepances in dating, which arise then, are discussed. According to the two possibilities of dating the youngest stadial is synchronous either with the so-called Piottino stadial or the Younger Dryas time. Consequently the oldest interstadial phase of Saltarino corresponds either with the Bölling or with a pre-Bölling interstadial. The last possibility seems to be more probable. 6. In the southern part of the Lake Garda area reforestation was preceded by a long shrub phase mainly with Juniperus. At about 650 m there was a period with Pinus mugo and only with a small amount of Juniperus before reforestation. A phase with Betula nana well known from areas north of the Alps could nowhere be found. 7. In the area under study larch appeared as the first tree. Lateron it has been the most important constituent of the forests near timber line. Birch, which plays an important role as a pioneer tree in Denmark - for instance at the transition of the pollen zones III/IV - as well as in Southern Germany during Bölling time, was of less importance at the southern border of the Alps. In that area the spreading of Pinus occurred very early causing dense forests. 8. During the last stadial phase (probably Younger Dryas time) dense forests with Pinus and Larix existed at 650 m. In the lower part of the Lake Garda area, however, both thermophilous trees as Quercus and herbs frequently occurred. This leads to the conclusion that during this time tree growth was limited by dryness in lower altitudes of the border of the Southern Alps. Pinus and Juniperus, however, do not show higher values in this period, a fact which cannot yet be explained. 9. A list of plants, which were found in the sediments, is compiled. Helodium lanatum, Dictamnus albus, Mercurialis cf. ovata, Buxus, Cerinthe cf. minor, Onosma, Anthericum and Asphodelus albus are findings, which are of special interest for the history of the flora of that region.

Border Trade and Economic Zones on the North-South Economic Corridor: Focusing on the Connecting Points between the Four Countries

The North-South Economic Corridor (NSEC), the road between Bangkok and Kunming, China, including the Laos route (R3B) and the Myanmar route (R3B), has been developed since 1998 following the GMS program. The region covering Yunnan Province in China, Shan State in Myanmar, Northern Laos and Northern Thailand has historical and ethnic closeness, and is a comparatively poor mountainous, boundary area. In the wake of the development of the NSEC, however, the region has started to show signs of change. Consequently, a review is to be carried out concerning the movement of people and cars, border trade and the situation concerning the progress of border economic zones at the five nodal border points in the four countries, and over three routes: R3A, R3B, and the Mekong River route.

Shear wave velocity estimation in the metropolitan area of Málaga (S Spain)

We carry out a seismic noise study based on array measurements at three sites in the Málaga basin, South Spain, for the further estimation of shear wave velocity profiles. For this purpose, we use both the H/V method and the f–k technique in order to characterize the different materials present in the zone, i.e., Quaternary sediments and Pliocene sedimentary rocks above the bedrock. The H/V analysis shows frequency peaks going from 1 Hz, in areas close to the border of the basin, to 0.3 Hz in places located toward the center of the formation. The f–k analysis allows obtaining the dispersion curves associated with each site and subsequently, estimating the Vs profiles by inversion of the respective group velocities. In this way, the basin basement can be characterized by S-wave velocities greater than 2000 m/s. Regarding the basin fill, it is divided into three layers defined by different wave velocity intervals. The shallowest one is featured by velocities ranging from 150 to 400 m/s and comprises the Quaternary sediments, while velocities going from 550–700 to1200–1600 m/s characterize the two underlying layers composed by Pliocene sediments. Finally, the information provided by the three Vs profiles is integrated in a 2D cross-section of the basin to have a spatial view of its sedimentary structure. The results obtained here, in addition to providing useful information about the infill of the basin near the metropolitan area of Málaga, will be very helpful for future seismic zonation studies in the region.

Should non-euro area countries join the single supervisory mechanism? Bruegel Policy Contribution 2013/06, 13 March 2013

Irrespective of the euro crisis, a European banking union makes sense, including for non-euro area countries, because of the extent of European Union financial integration. The Single Supervisory Mechanism (SSM) is the first element of the banking union. From the point of view of non-euro countries, the draft SSM regulation as amended by the EU Council includes strong safeguards relating to decision-making, accountability, attention to financial stability in small countries and the applicability of national macro-prudential measures. Non-euro countries will also have the right to leave the SSM and thereby exempt themselves from a supervisory decision. The SSM by itself cannot bring the full benefits of the banking union, but would foster financial integration, improve the supervision of cross-border banks, ensure greater consistency of supervisory practices, increase the quality of supervision,avoid competitive distortions and provide ample supervisory information. While the decision to join the SSM is made difficult by the uncertainty about other elements of the banking union, including the possible burden sharing, we conclude that non-euro EU members should stand ready to join the SSM and be prepared for the negotiations of the other elements of the banking union.