Likelihood Of Acquisition Research Articles

The effects of enhancing L2 multiword items in captions: An approximate replication of Majuddin, Siyanova-Chanturia, and Boers (2021)

Abstract Studies investigating the acquisition of multiword items (MWIs) from reading have furnished evidence that the likelihood of acquisition improves considerably if such items are typographically enhanced (e.g., bolded or underlined) in the texts. In the case of captioned audio-visual materials, however, an earlier study by the authors did not find such compelling evidence. In that study, indications of an effect emerged only when the same video was watched twice. Arguably, for learners to benefit more immediately from typographic enhancement in captions, they may need to be made aware of its purpose beforehand. The present article therefore reports an approximate replication of Majuddin et al. (2021), but this time the students were informed about the MWI-learning purpose of watching the video. As in the original study, the learners watched a video once or twice with standard captions, with captions in which MWIs were enhanced, or without captions. The positive effect of enhancement for MWI learning was clearer than in the original study, and it already emerged after a single viewing. On the downside, enhancement was found to have a negative effect on lower-proficiency learners' comprehension of the content of the video.

Bartonella infections are rare in blood-fed Ixodes scapularis and Ixodes pacificus ticks collected from rodents in the United States

BackgroundIxodes scapularis and Ixodes pacificus are important vectors of multiple pathogens in the United States. However, their role in transmission of Bartonella spp., which are commonly reported in rodents and fleas, has been debated. Our previous investigation on Bartonella spp. in host-seeking I. scapularis and I. pacificus showed Bartonella spp. were absent in the ticks, suggesting the two species are unlikely to contribute to Bartonella transmission. It is unclear whether the absence of Bartonella spp. in the host-seeking ticks was attributable to ticks not being exposed to Bartonella in nature or being exposed but unable to acquire or transstadially transmit the bacterium. To assess the likelihood of exposure and acquisition, we tested Ixodes spp. ticks collected from rodents for Bartonella infections.MethodsBlood-fed I. scapularis ticks (n = 792; consisting of 645 larvae and 147 nymphs), I. pacificus ticks (n = 45, all larvae), and Ixodes angustus ticks (n = 16, consisting of 11 larvae and 5 nymphs) collected from rodents from Minnesota and Washington were tested for Bartonella spp. using a quadruplex polymerase chain reaction (PCR) amplicon next-generation sequencing approach that targets Bartonella-specific fragments on gltA, ssrA, rpoB, and groEL. In parallel, rodents and fleas collected from the same field studies were investigated to compare the differences of Bartonella distribution among the ticks, fleas, and rodents.ResultsBartonella spp. were commonly detected in rodents and fleas, with prevalence of 25.6% in rodents and 36.8% in fleas from Minnesota; 27.9% in rodents and 45.2% in fleas from Washington. Of all tested ticks, Bartonella DNA was detected by gltA in only one larval I. scapularis tick from Minnesota.ConclusionsThe high prevalence of Bartonella spp. in rodents and fleas coupled with extremely low prevalence of Bartonella spp. in blood-fed ticks suggests that although Ixodes ticks commonly encounter Bartonella in rodents, they rarely acquire the infection through blood feeding. Notably, ticks were at various stages of feeding on rodents when they were collected. Laboratory transmission studies are needed to assess acquisition rates in fully blood-fed ticks and to assess transstadial transmission efficiency if ticks acquire Bartonella infections from feeding to repletion.Graphical

Carriage of Clostridium perfringens in domestic and farm animals across the central highlands of Colombia: implications for gut health and zoonotic transmission.

Clostridium perfringens inhabits the guts of humans and animal species. C. perfringens can proliferate and express an arsenal of toxins, promoting the development of multiple gut illnesses. Healthy animals carrying C. perfringens represents a risk of transmission to other animals or humans through close contact and an increased likelihood of acquisition of toxin plasmids. The aim of this study was to evaluate the frequency of C. perfringens carriage in domestic and farm animals in the central highlands of Colombia. C. perfringens was detected in six animal species using PCR targeting alpha toxin (cpa) and 16S ribosomal RNA (16S-rRNA) genes from 347 fecal samples collected in two Departments: 177 from farm animals of Boyacá and 170 from domestic animals of both Cundinamarca and Boyacá. The overall frequency of C. perfringens detection was 22.1% (n = 77/347), with the highest frequency observed in cats 34.2% (n = 41/120), followed by dogs 30.0% (n = 15/50). The lowest frequency was detected in ruminants: goats 11.1% (n = 3/27), sheep 8.0% (n = 4/50) and cattle 6.0% (n = 6/50). Domestic animals showed a higher frequency of C. perfringens carriage than farm animals. This difference could be associated with dietary patterns, as domestic animals have diets rich in proteins and carbohydrates, while ruminants have low-carbohydrate diets, resulting in high production of endopeptidase-type enzymes and differences in pH due to the anatomy of gastrointestinal tract, which can influence bacterial proliferation. These findings indicate a potential risk of transmission of C. perfringens among animals and from animals to humans through close contact.

User Engagement in an Online Digital Health Intervention to Promote Problem Solving

Abstract Digital health interventions (DHIs) can facilitate positive health outcomes. User engagement (UE) plays an important role in DHI efficacy. Yet, DHIs vary in functionality, design and intended outcomes, underscoring the importance of incremental, user-centred design to understand engagement in specific settings. This study explores the relationship between user engagement and DHI implementation in three design iterations, or rounds, of a unique, multi-week asynchronous intervention that leverages online discussion and problem-solving therapy (PST). The intervention seeks to engage older adults to improve problem solving skills relating to the intervention focus, health aging (two rounds) and Lewy Body Dementias (LBD) caregiving (one round). The PST component drew upon personas, a common user-centered design method, in a novel way. Exit interviews were conducted at the end of each round to understand participants' experiences. Using thematic analysis, we identified factors that contributed to social engagement (‘engaging with others’) and learning engagement (‘engaging with content’) with the DHI. The findings demonstrate how iterative changes in the design and delivery of a DHI can contribute to user engagement, increasing the likelihood of knowledge acquisition and developing problem-solving skills as part of health self-management.

Alcohol Use Disorder and HIV Risk in a National Survey of Men Who Have Sex with Men in Ukraine.

Problematic alcohol consumption is associated with risk behaviors associated with HIV transmission. Despite the high prevalence of problematic alcohol consumption in Ukraine, however,there are little empirical data examining its association with risk behaviors also associated with HIV transmission in men who have sex with men (MSM), a key population where HIV incidence is increasing, METHOD: Correlates of prevalent HIV infection and their association between drinking severity levelsand behaviors also associated with increased likelihood of HIV acquisition were analyzed from a 2017 nationally representative survey (IBBS) of 4938 MSM in Ukraine using bivariate analyses and multivariate regression. Overall, 42.6% of MSM participants met screening criteria for alcohol use disorder (AUD), with 24.2%, 12.0%, and 6.3% meeting criteria for moderate, high, and severe risk of harm from alcohol consumption, respectively. Multivariate regression revealed that these risk categories were correlated with behaviors associated with increasedHIV transmissionrisk, including reports of (1) > 5 sexual partners; (2) sex with a partner of unknown HIV status; (3) sex work; (4) any drug use; and (5) not testing for HIV (past year). HIV testing was infrequent, with only 44.1% having been tested in the previous year. The high prevalence of problematic alcohol use in Ukrainian MSM and its association with behaviors also associated with HIV transmission supports the importance of routine screening of MSM for AUD. Moreover, among those screening positive for a potential AUD, targeted HIV prevention strategies to scale-up pre-exposure prophylaxis, consistent condom use, and treatment for AUD are needed.

Market landscape and insurer-provider integration: the case of ambulatory surgery centers.

Insurer-provider integration is a new form of vertical integration, with increasing prominence in health care markets. While there are potential benefits from tighter alignment between providers and payers, risks of perverse impacts on health care markets loom large. Yet, little is known about this new wave of consolidation, which limits options for policy or regulatory responses. We focus on a dominant insurer's acquisitions of ambulatory surgery centers (ASCs) to document the growth and geographic spread of these ownership events. We found that a diverse swathe of the United States has experienced an insurer-led ASC takeover. The acquisitions are also more frequently in areas where the insurer holds a higher enrollee market share at baseline, although a linear prediction of the likelihood of ASC acquisition shows a more nuanced picture.

Marketing, communication, banking, and Fintech: personalization in Fintech marketing, enhancing customer communication for financial inclusion

This paper explores the intersection of marketing, communication, banking, and fintech, with a focus on personalization in fintech marketing and enhancing customer communication for financial inclusion. Financial technology (fintech) has revolutionized the way financial services are delivered, offering innovative solutions that cater to diverse customer needs. One key aspect of this transformation is the emphasis on personalized marketing strategies, which enable fintech companies to engage with customers on a more individualized level, driving customer satisfaction and loyalty. Personalization in fintech marketing involves tailoring products, services, and communications to meet the specific needs and preferences of customers. This approach not only enhances the customer experience but also increases the likelihood of customer retention and acquisition. Fintech companies leverage customer data and advanced analytics to segment their audience and deliver targeted messages and offers, effectively addressing customer pain points and driving engagement. Moreover, effective customer communication is essential for promoting financial inclusion, particularly among underserved populations. Fintech companies can use various communication channels, such as mobile apps, social media, and chatbots, to reach customers who may have limited access to traditional banking services. By delivering relevant and timely information, fintech companies can empower customers to make informed financial decisions and improve their overall financial well-being. The paper also discusses the role of banking and fintech partnerships in driving financial inclusion. By collaborating with traditional banks, fintech companies can leverage existing infrastructure and customer networks to reach underserved communities. These partnerships enable fintech companies to offer innovative financial products and services to a broader audience, contributing to greater financial inclusion and economic empowerment. In conclusion, personalization in fintech marketing and effective customer communication are key drivers of financial inclusion. By adopting these strategies, fintech companies can better engage with customers, tailor their offerings to meet specific needs, and ultimately, contribute to a more inclusive financial system. Keywords: Fintech Marketing, Customer Communication, Financial Inclusion, Personalization, Banking.

The acquisition motive of newly credit rated firms

A large body of research documents an increased acquisition activity among credit rated firms. We examine whether firms seek an initial credit rating to conduct large scale acquisitions, and whether this acquisition activity is driven by empire building or value creation motives. First, we find that acquisitions are a credible motive for seeking a credit rating, initially rated firms are associated with 13.05pp greater acquisition likelihood and these transactions are more likely to be settled by cash. Second, to recoup the costs of becoming rated, firms conduct large-scale high-quality acquisitions associated with 1.52pp higher acquirer announcement returns, where the higher cumulative abnormal returns are concentrated among firms obtaining a speculative grade initial rating. Third, following the initial rating year, acquisition activity dampens to pre-rating levels. In sum our findings lend support to the notion that previously financial constrained firms enter the bond markets to complement bank financing when conducting large value enhancing acquisitions.

Takeover in Europe: Target characteristics and acquisition likelihood

AbstractThis article analyzes characteristics of takeover targets in the European market—relatively less studied compared with US and UK markets—to develop a takeover prediction model. Our sample includes 320 European companies with 140 targets and 180 non‐targets over the period 1994–2007, covering two M&A waves. In this study, we test the discriminating power of many relevant variables including new one that could have a discriminating power in potentially determining (value creation). Our results show that European targets are characterized by a growth‐resource imbalance, are less rich in FCF, have growth opportunities, have a higher level of transaction volume of shares prior to the bid, achieve lower economic performance, and destroy value. Furthermore, we develop several predictive models using targets' financial data from 1 year, 2 years, and 3 years before takeover, along with the 3‐year average. The correct classification power in the original sample is 70% (in‐sample). As for predictive ability, the correct classification power in a control sample is 79.4% (out‐of‐sample). We also noted that predictive models using data from 1 or 2 years before the bid appear to display more significant predictive ability.

The Influence of Foreign Directors on Cross-Border M&A Completion

Purpose - The purpose of this study is to empirically examine the influence of foreign directors on the likelihood of cross-border merger and acquisition (CBMA) deal completion, and to investigate the moderating effect of past M&A experience. Despite the significant influence that board diversity can have on M&A decisions and its role as a decision-maker, insufficient research has been conducted on the impact of boards on M&A completion. Foreign directors, as a representative proxy for board diversity, can bring broader perspective and knowledge about a foreign environment when firms pursue CBMAs. In addition, they can provide strategic advice and counsel to a firm by objectively evaluating the information necessary for the processing of CBMAs, thereby enhancing the quality of CBMA decision-making. This study expects that the resources that foreign directors possess may have a positive influence on the CBMA process, improving the acquirer’s ability to find a more suitable target and reducing country differences that may arise during the negotiation process. Moreover, the study also expects that this effect is strengthened within an acquirer that has prior M&A experience since the firm can gain knowledge and accumulate the capabilities essential to pursuing subsequent M&As. Design/Methodology – Using a sample of 460 CBMA deals conducted by 377 publicly listed Chinese acquirers between 2009 and 2017, we employ logistic regression to examine our hypotheses. The study utilized the dummy variable of whether a CBMA deal is completed as the dependent variable, foreign directors on board of directors as an independent variable, and past M&A experiences as moderating variables. Findings – The study shows the positive role of foreign directors within an acquirer in enhancing the likelihood of CBMA deal completion. Additionally, the result also shows that the acquirer’s past M&A experience positively moderates the influence of foreign directors on the likelihood of CBMA deal completion. Originality/value – The study emphasizes that the international experience and knowledge brought by foreign directors to underwriting firms in pursuing and executing CBMA deals, characterized by high uncertainty and risk, can effectively mitigate these challenges.

Deal Sourcing: A Data Science Approach - Impact of Financial Characteristics on Acquisition Likelihood

Deal Sourcing: A Data Science Approach - Impact of Financial Characteristics on Acquisition Likelihood

High-Tech Ventures and Industry Incumbents: Knowledge Partnerships, Technological Knowhow, and Acquisition Likelihood

High-Tech Ventures and Industry Incumbents: Knowledge Partnerships, Technological Knowhow, and Acquisition Likelihood

Chinese land complex: Hometown ties and corporate land acquisition

Recent research highlights the significance of hometown ties in the fields of sociology and economics. Using unique, manually-collected microdata of corporate land transactions from China, this study focuses on the hometown ties between municipal officials and corporate executives and investigates their impact on corporate land acquisition outcomes. The results indicate that hometown ties between municipal officials and corporate executives positively influence the likelihood of corporate land acquisition, while concurrently reducing the acquisition cost. Mechanism analyses confirm that the municipal officials have notable control over corporate land allocation. Furthermore, the influence of hometown ties on land acquisition outcomes is primarily facilitated by the private-information and benefit-exchange channels. Heterogeneity analysis at the firm and land type levels are also explored. This study not only deepens the theorectial understanding of hometown ties, but also augments the literature on land resource misallocation from an informal institutional standpoint. Additionally, it offers fresh perspectives to the wider discourse on political connection research.

1549. Risk Factors, Risk Perception, and Long-acting PrEP Awareness and Interest among US Women: A National Survey

Abstract Background Cisgender women account for approximately 20% of incident HIV diagnoses in the US. However, only 10% of women who could benefit from HIV pre-exposure prophylaxis (PrEP) have been prescribed PrEP. US women face several challenges that may affect their seeking HIV prevention services, such as lack of PrEP awareness. Understanding these challenges may improve PrEP uptake, especially as innovative PrEP options, such as long-acting (LA) injectable PrEP, become available. This study explored interest in using LA-PrEP by factors that may increase risk of HIV acquisition. Methods Cisgender women were recruited between November 2021 – March 2022 though targeted social media ads on Facebook, Instagram, and Tinder to complete an online, self-administered survey. Eligible participants were cisgender women who were: 18+ years, current US residents, reported penetrative sex in the past six months, and reported an unknown or negative HIV status. The survey included questions on demographics, sexual health and behavior, LA-PrEP awareness, and LA-PrEP interest. Descriptive statistics were calculated using SAS v9.4. Results 1,834 eligible women completed the survey (median age: 28 years (IQR: 25, 33); Geography: South – 65%, West – 21%, Northeast – 7.3%, Midwest – 6.8%; Race: Black, non-Hispanic – 34%, White, non-Hispanic – 25%, Hispanic – 27%, Another race – 14%). Women were more likely to have heard of LA-PrEP if they had reported injection drug use in the past year (71%), had an STI diagnosis (70%) or HIV test (66%) in the past two years, and were currently using contraception (65%). Interest in using LA-PrEP was consistently high; the difference between LA-PrEP awareness and interest was greatest among women with non-private health insurance and those with perceived likelihood of future HIV acquisition. Conclusion Although interest in using LA-PrEP is high among US women, these results demonstrate the large gap between LA-PrEP awareness and interest in using it. Disclosures Tonia Poteat, PhD, MPH, PAC, Viiv Healthcare: Advisor/Consultant Supriya Sarkar, PhD, MPH, GlaxoSmithKline: Stocks/Bonds|Viiv Healthcare: Employee Leigh Ragone, MS, GlaxoSmithKline: Stocks/Bonds|ViiV Healthcare: Employee Danielle Bogan, BSN, MPH,DrPH, ViiV Healthcare: Contract worker Keith Rawlings, MD, GlaxoSmithKline: Stocks/Bonds|ViiV Healthcare: Employee Alex R. Rinehart, PhD, ViiV Healthcare: Employee Vani Vannappagari, MBBS, MPH, PhD, GlaxoSmithKline: Stocks/Bonds|ViiV Healthcare: Employee

Exploring the acquisition behavior of penny stock firms

We document that penny stock firms' acquisition likelihood increases with firm size, sales growth, free cash flow, stock price volatility, and run-up, but decreases with leverage, the number of years since IPO, and Tobin's Q. These findings are validated in a stepwise regression framework and are robust to alternative model specifications. Penny stock acquirers prefer public targets and are more (less) likely to use stocks (cash) as the payment method. We also find that acquisitions announcement returns are higher for penny stock firms than for non-penny stock firms, even after accounting for firm- and deal-characteristics. Further analyses indicate that the increase in announcement returns is driven by the firm's improved information environment. Overall, we document that penny stock firms are significant players in the market for corporate control.

Ownership, institutions, and the agency of M&A completion

AbstractResearch SummaryIn this paper, we study how variations in debt and equity ownership and the institutions that govern interactions between different types of principals and agents affect the completion likelihood of acquisitions. Using a sample of 55,722 acquisitions, our study finds that risk‐averse debtholders reduce the completion likelihood of acquisitions. When acquisitions cross borders, the acquiring capital providers become exposed to institutional environments that have evolved to prioritize different ideologies or principals because of the structure and customers of local capital markets. As a result, institutional duality in home and target countries reduces the completion likelihood of acquisitions. Our study integrates varieties of capitalism arguments and firm‐level agency conflicts and highlights the theoretical importance of capital markets and their concentration.Managerial SummaryAn acquisition is a highly consequential negotiation process between managers and capital providers of a firm. Based on their evaluation of a potential deal, managers propose acquisitions to capital providers who either accept it or pressure managers into withdrawing from the announced deal. This study considers firms' capital structure and cross‐national differences in the governing institutions to explain the resistance of capital providers against announced acquisitions. In particular, it points to the fear of capital providers losing control of their firms as a driver of their resistance against cross‐border acquisitions. However, when a favorable capital‐market structure in the target's home country alleviates the fears of capital providers, their resistance weakens.

An AI-powered navigation framework to achieve an automated acquisition of cardiac ultrasound images

Echocardiography is an effective tool for diagnosing cardiovascular disease. However, numerous challenges affect its accessibility, including skill requirements, workforce shortage, and sonographer strain. We introduce a navigation framework for the automated acquisition of echocardiography images, consisting of 3 modules: perception, intelligence, and control. The perception module contains an ultrasound probe, a probe actuator, and a locator camera. Information from this module is sent to the intelligence module, which grades the quality of an ultrasound image for different echocardiography views. The window search algorithm in the control module governs the decision-making process in probe movement, finding the best location based on known probe traversal positions and image quality. We conducted a series of simulations using the HeartWorks simulator to assess the proposed framework. This study achieved an accuracy of 99% for the image quality model, 96% for the probe locator model, and 99% for the view classification model, trained on an 80/20 training and testing split. We found that the best search area corresponds with general guidelines: at the anatomical left of the sternum between the 2nd and 5th intercostal space. Additionally, the likelihood of successful acquisition is also driven by how long it stores past coordinates and how much it corrects itself. Results suggest that achieving an automated echocardiography system is feasible using the proposed framework. The long-term vision is of a widely accessible and accurate heart imaging capability within hospitals and community-based settings that enables timely diagnosis of early-stage heart disease.

Which partners become targets? The role of location in partner acquisitions

This paper seeks to explain how location affects the likelihood of partner acquisition. We develop a novel framework that (i) emphasizes the decoupling between a firm's headquarters and its alliance-making division and their roles regarding alliance management and partner acquisition decisions and (ii) highlights that these decisions are contingent on location-related factors that shape the structural configuration of alliances. Findings from a comprehensive study of 20,165 alliances and 1838 subsequent majority acquisition events reveal that the acquisition likelihood tends to be higher in cross-border alliances than in domestic ones. We further find that increasing national cultural distance between the headquarters of the two partnering organizations attenuates this effect. In contrast, the co-location of the focal firm's alliance-making division and its headquarters further increases the likelihood of acquiring a cross-border partner. We provide a distinct explanation of partner acquisition, placing the interface of location and alliance structure centerstage to explain which alliance partners become acquisition targets. More generally, our findings inform research on strategic decision-making in areas where location is key, such as firm boundary configuration.

CEO personality traits and corporate value implication of acquisitions

We investigate how CEO personality traits moderate the shareholder value creation from corporate acquisitions. First, we document that the likelihood of corporate acquisitions is positively associated with extravert and overconfident CEOs consistent with the evidence of prior literature. Second, and most importantly, we document that stock prices react positively to acquisitions undertaken by conscientious CEOs. This finding is in line with the view that the stock market favors the detailed and planned approach towards acquisitions of conscientious CEOs. Furthermore, stock prices react positively to acquisitions undertaken by extraverted and overconfident CEOs but only after a good prior corporate performance stretch. Our results illustrate that CEO traits are important for the value implication of corporate acquisitions.

The impact of disaggregated formal institutional distance variables on entry mode decision: Evidence from Japan

Abstract Grounded in the organizational legitimacy perspective, this study examines the influence of formal institutional distance (FID) on the entry mode choice of Japanese cross-border acquirers. By disaggregating the FID variable using the Worldwide Governance Indicators, we provide a nuanced understanding of the relationship between FID dimensions and acquisition behavior. We find that out of the six disaggregated FID measures, three dimensions significantly impact acquisition decisions. Specifically, FID related to ‘regulatory quality’ and ‘control of corruption’ negatively affects the likelihood of full acquisitions, while FID related to the ‘rule of law’ positively influences full acquisitions. Our findings challenge the use of aggregated measures and highlight the importance of considering institutional variations. Japanese acquirers demonstrate a preference for higher control in uncertain legal environments. This study contributes to the literature by offering insights into the specific FID dimensions that drive the choice between partial and full acquisitions for Japanese firms.