Spiral-like structure at the centre of nearby clusters of galaxies

Context. X-ray data analysis have found that fairly complex structures at cluster centres are more common than expected. Many of these structures have similar morphologies, which exhibit spiral-like substructure. Aims. It is not yet well known how these structures are formed or maintained. Understanding the origin of these spiral-like features at the centre of some clusters is the major motivation behind this work. Methods. We analyse deep Chandra observations of 15 nearby galaxy clusters ( 0.01 < z < 0.06), and use X-ray temperature and substructure maps to detect small features at the cores of the clusters. Results. We detect spiral-like features at the centre of 7 clusters: A85, A426, A496, Hydra A cluster, Centaurus, Ophiuchus, and A4059. These patterns are similar to those found in numerical hydrodynamic simulations of cluster mergers with non-zero impact parameter. In some clusters of our sample, a strong radio source also occupies the inner region of the cluster, which indicates a possible connection between the two. Our investigation implies that these spiral-like structures may be caused by off-axis minor mergers. Since these features occur in regions of high density, they may confine radio emission from the central galaxy producing, in some cases, unusual radio morphology.

The clusters Abell 222 and Abell 223: a multi-wavelength view

Context. The Abell 222 and 223 clusters are located at an average redshift z similar to 0.21 and are separated by 0.26 deg. Signatures of mergers have been previously found in these clusters, both in X-rays and at optical wavelengths, thus motivating our study. In X-rays, they are relatively bright, and Abell 223 shows a double structure. A filament has also been detected between the clusters both at optical and X-ray wavelengths. Aims. We analyse the optical properties of these two clusters based on deep imaging in two bands, derive their galaxy luminosity functions (GLFs) and correlate these properties with X-ray characteristics derived from XMM-Newton data. Methods. The optical part of our study is based on archive images obtained with the CFHT Megaprime/Megacam camera, covering a total region of about 1 deg(2), or 12.3 x 12.3 Mpc(2) at a redshift of 0.21. The X-ray analysis is based on archive XMM-Newton images. Results. The GLFs of Abell 222 in the g' and r' bands are well fit by a Schechter function; the GLF is steeper in r' than in g'. For Abell 223, the GLFs in both bands require a second component at bright magnitudes, added to a Schechter function; they are similar in both bands. The Serna & Gerbal method allows to separate well the two clusters. No obvious filamentary structures are detected at very large scales around the clusters, but a third cluster at the same redshift, Abell 209, is located at a projected distance of 19.2 Mpc. X-ray temperature and metallicity maps reveal that the temperature and metallicity of the X-ray gas are quite homogeneous in Abell 222, while they are very perturbed in Abell 223. Conclusions. The Abell 222/Abell 223 system is complex. The two clusters that form this structure present very different dynamical states. Abell 222 is a smaller, less massive and almost isothermal cluster. On the other hand, Abell 223 is more massive and has most probably been crossed by a subcluster on its way to the northeast. As a consequence, the temperature distribution is very inhomogeneous. Signs of recent interactions are also detected in the optical data where this cluster shows a ""perturbed"" GLF. In summary, the multiwavelength analyses of Abell 222 and Abell 223 are used to investigate the connection between the ICM and the cluster galaxy properties in an interacting system.

Management Approaches to Merger Evoked Cultural Change and Acculturation Outcomes

In a study of merger-evoked cultural change in three organizations, quantitative and qualitative data were collected from individuals at all employment levels in both merger partners within each organization. Results were that most individuals perceived that the merger had impacted significantly on them personally. There was, however, a perceived lack of congruence between the organizational cultures of merging partners, resulting in cultural clashes and significant changes to the organizations' organizational cultures. More specifically, outcomes for both individuals and the subsequent acculturation following the mergers were related to the approach adopted to manage the merger process: incremental, immediate, or indifferent.

Social identity and self-categorization processes in organizational contexts

Although aspects of social identity theory are familiar to organizational psychologists, its elaboration, through self-categorization theory, of how social categorization and prototype-based depersonalization actually produce social identity effects is less well known. We describe these processes, relate self-categorization theory to social identity theory, describe new theoretical developments in detail, and show how these developments can address a: range of organizational phenomena. We discuss cohesion and deviance, leadership, subgroup and sociodemographic structure, and mergers and acquisitions.

Strategic research partnerships: Empirical evidence from Asia

This paper evaluates the role Strategic Research Partnerships (SRPs) play in Asia. Specific Asian institutional settings influence the roles of SRPs. Japan is regarded as a forerunner in the practice of SRPs. In Japan, lack of spillover channels, limited opportunities for mergers and acquisitions, weak university research and pressure for internal diversification motivate firms to form SRPs. In Korea, SRPs are regarded as a means to promote large-scale research projects. In Taiwan, SRPs are formed to facilitate technological diffusion. Empirical findings on SRPs, focusing on government-sponsored R&D consortia in Japan, are summarized. Issues regarding SRP formation, their effect on R&D spending of participating firms, and productivity, are examined. Reference is made to alternative forms of measurement of SRPs and their potential application to Asian countries is assessed. Enhancing the capacity of policy-makers to assess the extent and contribution of SRPs is considered to be a priority.

A model of seller holdout

We model a buyer who wishes to combine objects owned by two separate sellers in order to realize higher value. Sellers are able to avoid entering into negotiations with the buyer, so that the order in which they negotiate is endogenous. Holdout occurs if at least one of the sellers is not present in the first round of negotiations. We demonstrate that complementarity of the buyer's technology is a necessary condition for equilibrium holdout. Moreover, a rise in complementarity leads to an increased likelihood of holdout, and an increased efficiency loss. Applications include patents, the land assembly problem, and mergers.

Auditor independence and fee dependence

This study investigates whether fee dependence within the audit firms' offices jeopardises auditor independence. Fee dependence is examined at both the national audit firm level as well as the local office level and in a setting where public disclosure of fees is mandatory. We focus our tests on audit fee dependence and at the same time we control for the effects of non-audit service fee dependence post the 1989 mergers. We operationalise the exercise of independent judgement in auditing by the propensity to issue qualified audit opinions. If fee dependence affects auditors' independent judgement, then auditors are less likely to qualify the accounts. The study's results show that the level of auditor fee dependence does not affect auditor propensity to issue unqualified audit opinions. The findings remain robust to a number of sensitivity tests including the analyses controlling for the effects of non-audit service fee dependence and other settings in which there is heightened pressure on auditors to confront the effects of fee dependence on exercising independent audit judgement. (C) 2002 Elsevier Science B.V. All rights reserved.

Geography's emerging cross-disciplinary links: Process, causes, outcomes and challenges

In Australian universities the discipline of Geography has been the pace-setter in forging cross-disciplinary links to create multidisciplinary departments and schools, well ahead of other disciplines in humanities, social sciences and sciences, and also to a greater extent than in comparable overseas university systems. Details on all cross-disciplinary links and on immediate outcomes have been obtained by surveys of all heads of departments/schools with undergraduate Geography programs. These programs have traced their own distinctive trajectories, with ramifying links to cognate fields of enquiry, achieved through mergers, transfers, internal initiatives and, more recently, faculty-wide restructuring to create supradisciplinary schools. Geography's `exceptionalism' has proved short-lived. Disciplinary flux is now extending more widely within Australian universities, driven by a variety of internal and external forces, including: intellectual questioning and new ways of constituting knowledge; technological change and the information revolution; the growth of instrumentalism and credentialism, and managerialism and entre-preneurial imperatives; reinforced by a powerful budgetary squeeze. Geographers are proving highly adaptive in pursuit of cross-disciplinary connections, offering analytical tools and selected disciplinary insights useful to non-geographers. However, this may be at cost to undergraduate programs focussing on Geography's intellectual core. Whereas formerly Geography had high reproductive capacity but low instrumental value it may now be in a phase of enhanced utility but perilously low reproductive capacity.

Eficiência e concentração na indústria bancária

O objectivo deste trabalho é a análise da eficiência produtiva e dos efeitos da concentração sobre os custos bancários, tendo por base a indústria bancária portuguesa. O carácter multiproduto da empresa bancária sugere a necessidade de se adoptar formas multiproduto da função custo (tipo Fourier). Introduzimos variáveis de homogeneidade e de estrutura que permitem o recurso a formas funcionais uniproduto (Cobb-Douglas) à banca. A amostra corresponde a 22 bancos que operavam em Portugal entre 1995-2001, base não consolidada e dados em painel. Para o estudo da ineficiência recorreu-se ao modelo estocástico da curva fronteira (SFA), para as duas especificações. Na análise da concentração, introduziram-se variáveis binárias que pretendem captar os efeitos durante quatro anos após a concentração. Tanto no caso da SFA como no da concentração, os resultados encontrados são sensíveis à especificação funcional adoptada. Concluindo, o processo de concentração bancário parece justificar-se pela possibilidade da diminuição da ineficiência-X. This study addresses the productive efficiency and the effects of concentration over the banking costs, stressing its focus on the Portuguese banking market. The multiproduct character of the banking firm suggests the use of functional forms as Fourier. The introduction of variables of structure and of homogeneity allows the association of the banking activity (multiproduct) with a single product function (Cobb-Douglas type). The sample covers 22 banks which operated in Portugal from 1995-2001, non consolidated base with a panel data structure. The study about inefficiency is elaborated through the stochastic frontier model (SFA), for the two specifications selected. As a methodology to analyze the concentration, we introduced binary variables, which intend to catch the effects through four years after the concentration process. The results obtained, through SFA and concentration approach, are influenced by the kind of specifications selected. Summing up, the concentration process of the Banking Industry sounds to be justified by the possibility of the X-inefficiency.

Expectativas dos stakeholders para as fusões e aquisições: um estudo de caso: aquisição do Finibanco pelo Montepio

Dissertação apresentada ao ISCAP para a obtenção do Grau de Mestre em Auditoria Orientada por: Prof. Doutora Alcina Dias

O Impacto contabilistico da concentração de empresas: um estudo de caso

Dissertação para obtenção do Grau de Mestre em Contabilidade e Finanças Orientadores: Doutor José Manuel Veiga Pereira Professor Adjunto da área científica de Contabilidade, Grupo de disciplinas de Contabilidade Financeira Doutora Deolinda Maria Moreira Aparício Meira Professora Adjunta da área científica de Direito, Grupo de disciplinas de Direito Comercial

A neutralidade fiscal no caso da fusão inversa

Mestrado em Fiscalidade

Fusão de hospitais em centros hospitalares : impacto no seu desempenho operacional e financeiro

Mestrado em Contabilidade e Análise Financeira

The Farrell and Shapiro condition revisited

The purpose of this paper is to study the consequences of using the Farrell and Shapiro (1990) sufficient condition for merger approval to sectors in which a downstream horizontal merger may also affect upstream firms. As will be shown below, in some circumstances the sign of the relevant external effect can no longer be established by considering the merger as a sequence of in finitesimal mergers, each corresponding to a marginal change in output.

Processos de reestruturação como elemento de combate à crise financeira nas empresas do PSI-20 do sector não bancário no período de 2009 a 2012

Mestrado em Gestão e Empreendedorismo