Merger Process Research Articles

Decoding the Early Universe: Exploring a Merger Scenario for the High-Redshift Cluster JKCS041 using Numerical Models

Abstract JKCS041 (z = 1.8) is one of the most distant galaxy cluster systems known, seen when the Universe was less than 4 billion years old. Recent Sunyaev-Zeldovich (SZ) observations show a temperature decrement that is less than expected based on mass estimates of the system from X-ray, weak gravitational lensing and galaxy richness measurements. In this paper we seek to explain the observables - in particular the low SZ decrement and single SZ peak, the projected offset between the X-ray and SZ peaks of ≈220 kpc, the gas mass measurements and the lensing mass estimate. We use the GAMER-2 hydrodynamic code to carry out idealized numerical simulations of cluster mergers and compare resulting synthetic maps with the observational data. Generically a merger process is necessary to reproduce the observed offset between the SZ and X-ray peaks. From our exploration of parameter space, seen a few tenths of a Gyr after first core passage, two components with total mass of ≈2 × 1014M⊙, mass ratio of ≈2:3, gas fraction of 0.05 − 0.1 and Navarro, Frenk and White (NFW) mass density profile concentrations c≈5 are scenarios that are consistent with the observational data. For consistency with the SZ and X-ray measurements, our simulations exclude total mass in excess of ≈3 × 1014M⊙, primarily based on the SZ signal. The mass ratio is constrained by the SZ-X-ray offset and magnitude of the SZ signal, ruling out systems with equal and vastly different masses.

Experimental study on the formation and evolution of unconfined counter-helicity spheromaks merging using magnetized coaxial plasma gun

The formation and evolution of unconfined counter-helicity spheromaks merging have been experimentally investigated by using a magnetized coaxial plasma gun. By comparing the time-dependent photodiode signals and plasma radiation images of counter-helicity spheromaks merging and plasma jets merging, it is found that the field-reversed configuration (FRC) plasma formed by counter-helicity spheromaks merging has a distinct contour and a long maintenance time. For plasma jets merging, the resulting plasma has no discernible contours and a shorter lifetime. In addition, it is inferred from these data that stagnation heating and magnetic reconnection events occur during the counter-helicity spheromaks merging, causing a rapid rise in plasma pressure at the merging midplane and sharp kinks in the field lines near the merger region. By changing different operating parameters and observing the impact on the merger characteristics, it is suggested that the qualitative dynamics of the FRC plasma depends on the balance between the plasma pressure and the magnetic pressure. The high discharge voltage breaks the equilibrium in the merged body, while the large gas-puffed mass just weakens the compression effect of the merged body. These results give us an intuitive understanding of the counter-helicity spheromak merger process and its dependence on discharge parameters, and also provide a distinct perspective for the optimal design of FRC.

Strategic Process of Mergers and Acquisitions Market Plans

Merger and acquisition activity in India is booming, the percentage of cross-border transactionshas risen significantly. Flow of FDI’s is greatly encouraged with enactment of new laws and tweaking ofexisting policies. In the IT sector phenomenal growth of cross-border transactions is recorded. Foreignonline firms are focusing on companies in the digital space to gain access to skilled talent and aburgeoning market. However there are factors that need to be ascertained in order to fine-tune theecosystem to be more attractive to the investor community. What emerges from these facts is that thecountry’s regulatory regime has to be thoroughly reviewed in order to devise measures to fine-tune itoptimally for the growth and prosperity of the country’s IT sector. The two biggest obstacles in the wayof completing a merger or an amalgamation remains the often long drawn procedure required for thesanction of a scheme of arrangement and achieving a culture synergy between the combining entities.

Theoretical Aspects Of The Essence Of Bank Consolidation

The article considers theoretical aspects of the essence of bank consolidation. The author emphasises the diversity and multifaceted nature of «consolidation», which has led to its use in various activities. A detailed analysis of the literature sources made it possible to outline the essential meaning of the term «consolidation» by the most common areas and directions of its use. It is noted that consolidation can be used as a tool for stabilisation, systematisation, transformation, etc. in various fields of activity. The carried out scientific analysis of terminological definitions revealed a clear link between the concepts of «reorganisation», «restructuring», «integration» and «consolidation» in the banking sector. It is proposed to use a comprehensive approach to determine the essence of bank consolidation, which includes three levels: legal, accounting, and economic. It is proved that the processes of bank consolidation should be studied in two aspects: as a process of capital pooling and as a process of bank merger. It is emphasised that in the narrow sense, bank consolidation is a merger of banks, in which there is a legal succession in the form of transfer of all rights and obligations of several banks to one bank. In a broader sense, bank consolidation, which includes three levels: legal, accounting, and economic. It is proved that the processes of bank consolidation should be studied in two aspects: as a process of capital pooling and as a process of bank merger. It is emphasised that in the narrow sense, bank consolidation is a merger of banks, in which there is a legal succession in the form of transfer of all rights and obligations of several banks to one bank. In a broader sense, bank consolidation can be viewed as a process focused on achieving specific goals and is a series of sequential actions implemented through a set of measures of a legal and economic nature. It is substantiated that the term «consolidation» in relation to banks is a collective concept, which includes not only individual transactions or legally significant actions regarding mergers, acquisitions, or takeovers of banks but also the acquisition of corporate control by a newly formed bank. The forms of bank consolidation include mergers, acquisitions, accessions, and amalgamations. The economic basis of bank consolidation is formed by social relations that develop in the commercial activity of banks and are aimed at combining their economic and financial potential and corporate control over banking activities in the financial market.

Micro-Fabrication of PMMA Using Electrochemical Discharges

The Poly (methyl methacrylate)-PMMA material also recognized as acrylic is an significant material for the different microsystem’s technologies. PMMA properties such as optical transparency, high hydrophilicity, biocompatibility, chemical inertness and lower autofluorescence, makes it a suitable candidate for the microfluidics devices These devices consist of the various micro-features i.e., micro-holes as well as the micro-channels. In current times, fabrication methods such as laser machining, hot embossing, injection molding, and mechanical cutting are predominantly used for the microfabrication in PMMA material. Nonetheless, the major processes such as laser machining and mechanical cutting exhibit some limitations due to issues like higher processing+setup costs, higher thermal damage, edge burr formations etc. Recently, a method i.e. machining with electrochemical discharges emerged as the potential alternative to the existing methods to machine the PMMA substrates. This method also called ‘electrochemical discharge machining (ECDM)’ considered to be the hybrid combination of microfabrication based on electric-discharge and electro-chemical processes. ECDM is a relatively simple, economical process which, in principle, can perform micro-fabrication in various materials irrespective of its electrical-conductivity, hardness as well as brittleness. In ECDM heat energy generated by electrochemical (EC) discharges in an electro-chemical cell (consists of a micro tool rod/electrode, a big-sized counter electrode and an aqueous alkaline electrolyte).In ECDM process, when voltage (>2 V) is provided between the smaller size tool (cathode) and bigger counter electrode (anode) which are kept in the aqueous KOH. The applied voltage results in the electrolysis of aqueous KOH electrolyte and produces gas bubbles of hydrogen (H2) at cathode point and of oxygen at anode point respectively. At the point of cathode (tool electrode) gas bubble production is very higher due to higher current density at the smaller tool surface. The subsequent increase in the applied voltage starts the process of merger of bubble which forms an envelope of gas film around the smaller tool electrode. At this stage, tool electrode gets complete isolation from surrounding electrolyte. Breakage of this gas film envelope happens at elevated voltage (> 24±0.1 V) and discharges are generated which produces heat energy. The material removal from the PMMA workpiece happens which is kept below the discharge producing tool. The material removal is result of melting, evaporation and etching due to heat energy.The most of research on ECDM is demonstrated for the glass and alumina ceramics in past decade which are electrically nonconductive workpieces. Nevertheless, the ECDM process has not been completely explored for the polymers, such as PMMA. Bhargav et al. have recently explored this process for the micro-channel formation in PMMA using NaOH electrolyte with 0.7 mm titanium tool electrode having cylindrical shapes. It is very much clear from the known literature that work related to PMMA micro-structuring using ECDM is scarce. Furthermore, the experimental analysis was directed on the micro-channel (> 700 µm) formation only. Consequently, there is a wide research gap for micro-structuring of PMMA for formation miniaturized micro-holes (> 300 µm) of different shapes such as circular, slotted. Analysing EC discharge behaviour, tool electrode condition, and micro-hole geometric features are the key tasks which are performed.The present work is performed to investigate the EC discharge behaviour and identification of the appropriate applied voltage on the micro-hole formation as well as the geometric characteristics such as hole size, depth, heat affected zone (HAZ) and circularity. Also, the tool condition after usage and its effect on the EC discharges and micro-hole quality have also been explored. The identification of Vc i.e. critical voltage has been carried out. The EC discharges stability for the range of applied voltage has been analyzed. It has been found that the applied voltage needed for the appropriate machining quality with uniform EC discharges should be in the range of Vc+4 to Vc+6. The lower values of applied voltage Vc+2 indicated the region of the unstable and non-uniform EC discharges affecting the micro-hole quality. The worn-out tool also affects the hole quality and EC discharge stability. Figure 1

Toward a more complete understanding of institutional logic configuration in an merger project

AbstractThe frequency and scale of mergers and acquisitions (M&A) have significantly increased in the last two decades, in spite of continuous reports on their high failure rates. M&A scholars call for insights to be sought on the merger process to help understand the complexity of these operations and decrease their failure rate. M&A scholars advocate paying attention to institutional logics' configuration shaping a firm's decisions to grasp merger process complexity. Institutional studies show how specific logics have a powerful influence on the strategic decisions and priorities of organizations. Yet, few studies have empirically combined multiple levels by framing logics' configuration fostering specific strategic decisions. This study addresses this issue. Using a longitudinal case study, we analyze how institutional logics' configuration at organizational and inter‐organizational levels supports firms' strategic decisions to merge and to end the deal. We demonstrate that despite the alignment of logics at the organizational level, the multiplicity of logics at the inter‐organizational level led to deal failure.

Vowel mergers in the Latin of the Danubian provinces of the Roman Empire as evidenced in inscriptions

AbstractThe present study analyzes the transformation of the vowel system and especially the process of vowel mergers based on the Latin inscriptions of the Danubian provinces. With the help of the Computerized Historical Linguistic Database of the Latin Inscriptions of the Imperial Age (http://lldb.elte.hu/), it tries to draw and then compare the phonological profiles of the selected provinces and to describe the dialectal position of the Danubian provinces regarding vocalism in the first four centuries AD. The analysis, which also covers comparisons with certain provinces of Italy and Dalmatia, is carried out considering four aspects: the ratio of vocalic versus consonantal changes, the ratio of vowel mergers compared to vocalic changes, the ratio of e-i and o-u mergers compared to each other, and the ratio of vowel mergers by stressed and unstressed syllable. As a result of the present study, it was revealed that Danubian provinces cannot be treated as a unit or as clearly separate from the other areas studied according to either aspect of the study. The Dacian development, which can only be observed in the 2nd–3rd century, can easily be placed among the Danubian provinces, so it is not necessary to connect it with the developmental trends in southern Italy. The present study, which continued József Herman's research, managed to explore the hitherto little-known linguistic and dialectological features of Latin in the Danubian provinces.

The quiescent population at 0.5 ≤ z ≤ 0.9: Environmental impact on the mass–size relation

Context. How the quiescent galaxies evolve with redshift and the factors that impact their evolution are still debated. It is still unclear what the dominant mechanisms of passive galaxy growth are and what role is played by the environment in shaping their evolutionary paths over cosmic time. Aims. The population of quiescent galaxies is altered over time by several processes that can affect their mean properties. Our aim is to study the mass–size relation (MSR) of the quiescent population and to understand how the environment shapes the MSR at intermediate redshift. Methods. We used the VIMOS Public Extragalactic Redshift Survey (VIPERS), a large spectroscopic survey of ∼90 000 galaxies in the redshift range 0.5 ≤ z ≤ 1.2. We selected a mass-complete sample of 4786 passive galaxies based on the NUVrK diagram and refined it using the Dn4000 spectral index to study the MSR of the passive population over 0.5 ≤ z ≤ 0.9. The impact of the environment on the MSR and on the growth of the quiescent population is studied through the density contrast. Results. The slope and the intercept of the MSR, α = 0.62 ± 0.04 and log(A) = 0.52 ± 0.01, agree well with values from the literature at the same redshift. The intercept decreases with redshift, Re(z) = 8.20 × (1 + z)−1.70, while the slope remains roughly constant, and the same trend is observed in the low-density (LD) and high-density (HD) environments. Thanks to the largest spectroscopic sample at 0.5 ≤ z ≤ 0.9, these results are not prone to redshift uncertainties from photometric measurements. We find that the average size of the quiescent population in the LD and HD environments are identical within 3σ and this result is robust against a change in the definition of the LD and HD environments or a change in the selection of quiescent galaxies. In the LD and HD environments, ∼30 and ∼40% of the population have experienced a minor merger process between 0.5 ≤ z ≤ 0.9. However, minor mergers account only for 30–40% of the size evolution in this redshift range, the remaining evolution likely being due to the progenitor bias.

The Kruskal Wallis Analysis of Indonesian Sharia Banking Post-Merger

In 2020, the Ministry of BUMN decided to merge three Sharia banks in Indonesia, namely Bank Syariah Mandiri (BSM), BNI Syariah and BRI Syariah with the aim of contributing to the economy, increasing market share, as well as the aim of efficiency and increasing income from financing products. Since this phenomenon occurred, a lot of research has been carried out, one of which is examining the performance of Bank Syariah Indonesia after the merger process was carried out. This research aims to examine differences in the performance of Indonesian Sharia Banks in terms of efficiency and income aspects using the Kruskal Wallis method. It is hoped that this research can become a reference, knowledge and provide an overview for academics, the general public, customers and potential investors to assess whether the BUMN Ministry's decision to merge these three banks is considered effective and has had a positive impact on stakeholders and the banks themselves. The results of this study show that efficiency measured by EFF shows a difference, while P/L does not. Revenue as measured by ROA showed no difference, while NPM experienced changes after the merger.

Migration Success Strategy and Implementation of Enterprise System: A Case Study on PT XYZ Biller Message Switching and Aggregator Service Merger Work From Home

Purpose – The purpose of the research is to determine the strategy for the successful implementation of Biller Message Switching and Aggregator carried out by organizations with multicultural employees during work from home conditions. Methodology – The method used in this research was a summative evaluation with the research subjects of the merger of Bank X, Bank Y, and Bank Z. Research subjects were chosen because of the success of the development team in integrating enterprise systems to support the merger process carried out during the pandemic. Results – The results of the research concluded that the ES implementation strategy during the pandemic required consistency, actively documenting each process, over-communicating, and using the appropriate SDLC method. Originality – This research conducted a thematic analysis on the process of integrating and migrating ES companies that merged during the pandemic. Contribution – This research contributes to organizations that want to integrate and migrate ES during the pandemic. For academics, research can serve as a foundation for future research in developing theories of ES implementation in virtual or pandemic environments.

Is it worth it? Using DEA to analyze the efficiency gains and costs of merging university departments: a case study of the Complutense University of Madrid

AbstractThe aim of this paper is to analyze the benefits of the university department merger undertaken by the Complutense University of Madrid (UCM) in 2017. The merger led to a new structure in which the original 184 departments were reduced to 97. To do this, we use the data envelopment analysis (DEA) to evaluate the efficiency gains of a merger process decomposing efficiency into three savings effects: learning, harmony, and scale effects. They decomposed efficiency into three savings effects: learning, harmony, and scale effects. Additionally, we introduce a new regulatory effect, which accounts for other potential recursive savings not included in the DEA analysis. Our results suggest that the merger process undertaken by the UCM achieved savings of around 20.5 million euros, approximately 6.6 million euros, which is accounted for by the regulatory effect. These savings will reproduce and accumulate annually over time. The results also show that, as a result of the intense negotiations, academic staff based at faculties engaged in the merger process may have taken more days of sick leave than academics from unmerged faculties in 2017, although the increase is not significant at standard levels.

ФІНАНСОВИЙ КОНТРОЛІНГ ПРОЦЕСУ ЗЛИТТЯ ТА ПОГЛИНАННЯ КОМПАНІЙ В УМОВАХ ГЕОПОЛІТИЧНИХ РИЗИКІВ

Introduction. Geopolitical risks and crises have become a significant factor affecting financial and investment decisions. Military actions, pandemics, climate change, supply chain disruptions, and social upheavals have become drivers of uncertainty, leading to unpredictable volatility in global markets. This necessitates a reevaluation of traditional tools for supporting financial and investment decisions, including decisions regarding mergers and acquisitions (M&A transactions). Problem Statement. The problem lies in the insufficient adaptation of traditional decision-support tools for M&A to the new geopolitical reality, characterized by permanent crises, supply chain disruptions, and increased levels of uncertainty. Purpose. To determine the nature of the impact of geopolitical risks and behavioral factors on investment decision-making and to substantiate the concept of financial controlling in M&A. Methods. A mixed-method approach (Mixed Methods Research) was employed, whereby hypotheses were formulated based on inductive observations and then deductively tested. Within this framework, both qualitative and quantitative research methods were applied, including content analysis, abstract-logical and synthesis methods, regression-correlation analysis, and the online survey method (CAWI – Computer Assisted Web Interviewing). Results. The nature of the impact of geopolitical risks on the dynamics of the merger and acquisition market has been clarified. Based on empirical analysis, the influence of the subjective, behavioral component on investment decision-making as a whole and decisions regarding mergers and acquisitions in particular has been confirmed. For the first time, the concept of financial controlling in M&A has been substantiated, aimed at providing informational, methodological, and analytical support for relevant decisions. The essence of the ecosystem approach to the process of mergers and acquisitions has been revealed. Conclusions. It has been proven that geopolitical risks are insufficiently taken into account in the process of making investment decisions regarding M&A, which often leads to unsuccessful deals. This is a consequence of the shortcomings of existing company valuation and rating methodologies, as well as the influence of the subjective, behavioral component on investment decision-making. To address the complex issues associated with M&A, it is advisable to implement a comprehensive concept of financial controlling and an ecosystem approach to the merger and acquisition process.

The Role of Internal Audit in The Merger and Acquisition Process to Provide Added Value: A Critical Review

Purpose – This research focuses on how internal audit influences added value in the merger and acquisition (M&A) process. One of the internal audits provides value added by doing due process diligence For M&A transactions. The failure rate in creating value for companies and shareholders through M&A is still relatively high. Factors contributing to such failures include cultural differences between organizations, overly optimistic decisions based on market assessments, overestimating synergies, and inappropriate technology assessments. In overcoming these risks, the role of internal audit becomes crucial. This research underscores how internal audits can aid in recognizing and addressing the risks linked to M&A, particularly during the strategy, feasibility assessment, and results integration implementation phases. Methodology – This research uses descriptive qualitative analysis methods Findings – Research demonstrates that internal audit plays a vital role in guaranteeing the seamless operation of the M&A process. Internal audits help identify the various risks involved in the M&A process, from market and financial risks to legal and cultural risks. In addition, internal audits also provide recommendations for improvements needed to ensure that the M&A process runs according to the company's plans and goals. Thus, the contribution of internal audit is significant in ensuring the success of every M&A transaction carried out by the company. Originality – This article comprehensively discusses internal audit activities in the M&A process so the internal audit activity can add value to the company.

MERGER OF INDONESIAN ISLAMIC BANKS: BUSINESS COMPETITION LAW AND PROTECTION OF CUSTOMER’S RIGHTS

The merger of three Islamic banks into BSI has ignited discussions on monopolistic practices and unfair business competition. Some argue that BSI's merger breaches business competition law, specifically Law No. 5 of 1999, due to its control of over 50% of the market share of Islamic commercial banks. However, this argument lacks clarity on the determination of the relevant market, a crucial factor for assessing market dominance and potential monopolistic behavior. This article delves into the BSI merger process, analyzing market share within the defined market as outlined in Law No. 5 of 1999 and its associated regulations. Furthermore, it explores customer protection measures during the merger. The findings indicate that BSI's actions within the relevant market do not exhibit signs of monopolistic practices or unlawful business combinations prohibited by Law No. 5 of 1999. BSI has adhered to all regulatory requirements, ensuring customer protection throughout the merger process.

MAGICS I. The First Few Orbits Encode the Fate of Seed Massive Black Hole Pairs

The elusive massive black hole (MBH) seeds stand to be revealed by the Laser Space Antenna Interferometer through mergers. As an aftermath of galaxy mergers, MBH coalescence is a vastly multi-scale process connected to galaxy formation. We introduce the “Massive black hole Assembly in Galaxies Informed by Cosmological Simulations” (MAGICS) suite, with galaxy/MBH properties and orbits recovered from large-volume cosmological simulation ASTRID. The simulations include subgrid star formation, supernovae feedback, and MBH accretion/feedback. In this first suite, we extract fifteen representative galaxy mergers with seed MBHs to examine their dynamics at an improved mass and spatial resolution (by ∼2000 and ∼20) and follow MBH orbits down to ∼10pc. We find that the seed MBH energy loss and orbital decay are largely governed by global torques induced by the galaxy merger process on scales resolvable by cosmological simulations. Specifically, pairs sink quickly if their orbits shrink rapidly below 1kpc during the first ∼200Myr of pairing due to effective energy loss in major galaxy mergers, whereas MBHs gaining energy in minor galaxy mergers with head-on collisions are likely to stall. High initial eccentricities ( einit>0.5) and high stellar densities at kpc scales ( ρstar>0.05M⊙/pc3) also lead to most efficient decays. ∼50% high-redshift seed MBH pairs experience consecutive galaxy mergers and are more likely to stall at ∼1kpc. For a subset of systems, we carry out N-Body re-simulations until binary formation and find that some stalled systems merge at high-z when embedded in sufficient nuclear star clusters.

Analysis of the Motives and Risk Countermeasures for Cross-Border Mergers and Acquisitions of Agrochemical Companies Based on OLI Model

Nowadays, agrochemical companies are facing challenges such as fluctuations in supply and demand, intense market competition, and declining product prices, which have led to varying degrees of performance decline. At the same time, high-quality undervalued companies in the international market are attracting more and more Chinese companies to step into the global market in search of new growth opportunities through cross-border mergers and acquisitions. This paper, based on the OLI model, analyzes the motives of mergers and acquisitions from three aspects: ownership advantages, location advantages, and internalization advantages. It discusses the potential risks in the merger and acquisition process and preventive measures, and proposes relevant conclusions based on this.

The Three P’s in Nonprofit Human Service Mergers: Strategic Response to Coping with a Crisis

ABSTRACT COVID-19 has heralded a health and socioeconomic crisis that has made it difficult for nonprofit human service organizations (NPHSOs) to play their social roles and achieve their goals. This article examines how the merger of NPHSOs can serve as a strategy for coping with an organizational crisis caused by external extreme events such as the COVID-19 pandemic. The study focused on eight mergers of Israeli NPHSOs. Using in-depth interviews and a survey methodology of senior managers and board members who have participated in the merger process, we explore the motives, challenges, and key processes characterizing these mergers. The findings are organized around three stages in the merging process – the Three P’s in human service mergers: Pre-merger, when the motives and barriers were examined; Process, where decision-making mechanisms, issues of belonging and identity, and coping with conflicts and trust-building were examined; and Post-merger, where attitudes toward the outcomes of the merger and its success in various organizational areas were assessed. The findings also point to a lack of proper preparation and orientation for the merger, ego struggles between managers and workers, and the need for socializing the employees to the merger. We conclude by discussing the importance of planning for and attending to the human capital in the merged NPHSOs, the need to build a shared sense of belonging, and the value of shaping a new and shared organizational culture. Implications to theory, practice, and policy are discussed.

The creation of Grampians Health - a case study focusing on lessons learned from a health service merger.

This case study of the merger of four hospitals in western Victoria reports on the views of participants affected by the merger - as staff or from the communities - about 2 years after the merger. Respondents reported that many of the sought-after benefits of the merger were being delivered. However, the merger process itself attracted criticism, and it is here that this merger can provide lessons for others. Although there was a long lead time of consultation prior to the formal decision to merge, there was very little time to plan the next steps of implementation - there were only days between the decision and the merger taking effect. Future mergers should manage that differently. There is also a lot of literature on mergers which might provide a check list to enhance the likelihood of success in future mergers.

Analysis of Competition and the Level of Dominance in the Russian Food Retail Market

The article analyzes the competition and the level of dominance in the Russian food retail market for the period 2015-2022. A total of 36 companies were analyzed. The Lynd and Herfindahl–Hirschman indices, as well as the SV (strength/variety) matrix, were used as analytical tools. As the results of the study showed, the food retail industry in Russia is highly competitive. Over the past eight years, the combined share of key players has increased, but does not exceed 30%, and therefore it was concluded that there is no dominance in the food retail market in Russia. Due to the active process of acquisitions and mergers by key players, 2 main players have formed: X5 Group and PJSC Magnit, and there is also a high saturation of small companies. It is worth noting that despite the pandemic and instability.

Microscopic state of BHs and an exact one body method for binary dynamics in general relativity

In gravitational collapses, the horizon and singularity’s realisation in the finite future of the proper time used co-moving observer happens in the future of infinitely far away future of the normal time used outside probe. To the latter the horizon and singularity defined in the singularity theorem are physical realities only in the sense of uncertainty principle and ensemble interpretation. We provide two exact time dependent solution families to the Einstein equation and show that they form a pair of complementary description for the microscopic state of black holes by showing that the Bekenstein–Hawking entropy formula follows properly from their canonical wave function’s degeneracy. We also develop an eXact One Body method for general relativity two-body dynamics whose conservative part calls no post newtonian approximation as input and applies to the full three stages of black hole binary merger events. By this method, we analytically calculate the gravitational wave forms following from such merger processes. In the case black holes carry exact and apriori horizon and singularity our wave forms agree with those following from conventional effective one body method but exhibit more consistent late time behaviour. In the case black holes carry only asymptotic horizon and extended inner structure thus experiencing banana shape deformation as the merger occurs, our wave forms exhibit all features especially the late time quasi-normal mode type oscillation seen in real observations.