Merger Process Research Articles

MERGER IN ISLAMIC BANKING SECTOR: A SNAP OF VIEWS FROM THEIR CUSTOMERS AND PROSPECTIVE CUSTOMERS

Various kinds of strategies tend to be carried out by the perpetrators’ business to maintain effort at a time strengthen position in the middle competitors others, such as carry out a strategy of merging effort or mergers. However, a merger also has an impact on the internal parties of the entities that do. This study attempted for dig more in about the views of banking customers and prospective customers from Bank Syariah Indonesia (BSI) after the merger process. We use qualitative method and collected the research data from open questionnaire and interview from 81 banking customers and prospective customers of 3 ex-BSI Islamic Banks in Malang City. They responded to this merger as a positive phenomenon, although there are also some things to worry about.

Search for Quasiperiodic Oscillations in Precursors of Short and Long Gamma-Ray Bursts

The precursors of short and long gamma-ray bursts (SGRBs and LGRBs) can serve as probes of their progenitors, as well as shedding light on the physical processes of mergers or core-collapse supernovae. Some models predict the possible existence of quasiperiodic oscillations (QPOs) in the precursors of SGRBs. Although many previous studies have performed QPO searches in the main emission of SGRBs and LGRBs, so far there were no systematic QPO searches in their precursors. In this work, we perform a detailed QPO search in the precursors of SGRBs and LGRBs detected by Fermi/Gamma-ray Burst Monitor (GBM) from 2008 to 2019 using the power density spectrum (PDS) in the frequency domain and Gaussian processes in the time domain. We do not find any convinced QPO signal with significance above 3σ, possibly due to the low fluxes of precursors. Finally, the PDS continuum properties of both the precursors and main emissions are also studied for the first time, and no significant difference is found in the distributions of the PDS slope for precursors and main emissions in both SGRBs and LGRBs.

Formation and evaporation of strangelets during the merger of two compact stars

We study the partial fragmentation of a strange quark star into strangelets during the process of merger of two strange quark stars. We discuss the fate of the fragments considering their possible evaporation into nucleons. We show that only a rather small amount of large size strangelets, ejected from the spiral arms in the postmerger, survives a total evaporation into nucleons. In this way we demonstrate that (1) the density of strangelets in the galaxy is too low to trigger the conversion of all neutron stars into strange quark stars, and it allows the coexistence of both types of compact objects; (2) the probability of direct detection of a strangelet is negligible, and therefore its nondetection is compatible with the strange quark matter hypothesis; (3) most of the matter ejected during and after the merger of two strange quark stars evaporates into nucleons, and therefore it can generate a kilonova-like signal.

Предизвикателствата пред международния банков бизнес

As part of the economic transformation in the Central and Eastern European countries, issues affecting international banking have become the subject of increasing attention from the academic community. The recently published monograph "The Process of Mergers and Acquisitions in International Banking" reflects the long-standing work of Assoc. Virzhinya Ivanova's long-standing research on essential aspects of the functioning of the world economy, in particular on structural and organizational changes in the international banking business. The book analyses these processes in the context of EU regulations and inter-national banking arrangements and regulations.

A study of the hydrostatic mass bias dependence and evolution within The Three Hundred clusters

ABSTRACT We use a set of about 300 simulated clusters from the three hundred Project to calculate their hydrostatic masses and evaluate the associated bias by comparing them with the true cluster mass. Over a redshift range from 0.07 to 1.3, we study the dependence of the hydrostatic bias on redshift, concentration, mass growth, dynamical state, mass, and halo shapes. We find almost no correlation between the bias and any of these parameters. However, there is a clear evidence that the scatter of the mass-bias distribution is larger for low-concentrated objects, high mass growth, and more generically for disturbed systems. Moreover, we carefully study the evolution of the bias of 12 clusters throughout a major-merger event. We find that the hydrostatic-mass bias follows a particular evolution track along the merger process: to an initial significant increase of the bias recorded at the begin of merger, a constant plateaus follows until the end of merge, when there is a dramatic decrease in the bias before the cluster finally become relaxed again. This large variation of the bias is in agreement with the large scatter of the hydrostatic bias for dynamical disturbed clusters. These objects should be avoided in cosmological studies because their exact relaxation phase is difficult to predict, hence their mass bias cannot be trivially accounted for.

The Impact of Financial Risk Management in Succeeding Mergers and Acquisition Final Project

This study explored ways to manage financial risk and also risk management in a case of merger and acquisitions. The goals of this study is to 1.) To conduct a critical examination of financial risk management in the field of merger and acquisition, which contains assets calculation, financial analysis, market analysis, and project profitability, as well as the connections between these aspects towards the succession of undergoing a merger and acquisition process. 2.) Review the outcomes of the data analysis in order to reach conclusions and suggestions in the context of successability of mergers and acquisitions. The research strategy that is included in this paper are quantitative research and case study. One of the research strategy is by using a method by David S. Clifton & David E Fyfe from “Project Feasibility Analysis” . Another research strategy that will be used in this paper is the Failure Mode and Effects Analysis. The data collected by the researcher will mainly be coming from PT Indo Kaya Energi in a form of archival method, other than that, some secondary sources from articles and journals on the internet will be used in this research. The study demonstrates that the process of merger and acquisitions needs to be carefully examined, the reason behind this is because the researcher needed to analyze not only the financial statement from the company, but also analyze the market, assets and future project forecast cashflow as stated in “Project Feasibility Analysis”

The Impact of Financial Risk Management in Succeeding Mergers and Acquisition Final Project

This study explored ways to manage financial risk and also risk management in a case of merger and acquisitions. The goals of this study is to 1.) To conduct a critical examination of financial risk management in the field of merger and acquisition, which contains assets calculation, financial analysis, market analysis, and project profitability, as well as the connections between these aspects towards the succession of undergoing a merger and acquisition process. 2.) Review the outcomes of the data analysis in order to reach conclusions and suggestions in the context of successability of mergers and acquisitions. The research strategy that is included in this paper are quantitative research and case study. One of the research strategy is by using a method by David S. Clifton & David E Fyfe from “Project Feasibility Analysis” . Another research strategy that will be used in this paper is the Failure Mode and Effects Analysis. The data collected by the researcher will mainly be coming from PT Indo Kaya Energi in a form of archival method, other than that, some secondary sources from articles and journals on the internet will be used in this research. The study demonstrates that the process of merger and acquisitions needs to be carefully examined, the reason behind this is because the researcher needed to analyze not only the financial statement from the company, but also analyze the market, assets and future project forecast cashflow as stated in “Project Feasibility Analysis”

Impact of Merging Into a Comprehensive Cancer Center on Health Care Teams and Subsequent Team-Member and Patient Experiences.

Comprehensive health care centers are increasingly popular as they offer inclusive health care services under one roof. Often, these centers are formed by merging previously separate clinics. However, there is a lack of systematic guidance on the interprofessional, and interteam and intrateam dynamics that may develop during such an organizational change process. Using team process literature, we identify a possible model to explain how merging into a comprehensive cancer center (CCC) might influence health care teams and their subsequent outcomes, including patient experience. We used a mixed-method research design. Qualitative data were collected via semistructured interviews from 20 health care professionals employed at a recently merged CCC. During the time frame the interviews were collected, quantitative data were collected from 50 patients receiving treatment at the cancer center through anonymous paper-pencil surveys. Qualitative interviews were analyzed using thematic analysis, on the basis of the input-process-output team dynamics framework. Descriptive statistics were calculated for patient experience data. Trends between data collections were identified. On the basis of our qualitative analysis, we provide an input-process-output framework that documents positive and negative aspects of interteam and intrateam dynamics associated with the merger process. Additionally, a number of connections were found between health care professional perceptions and quality patient experiences (eg, merger impacts on interteam and patient communication). Our findings and model may assist in future merging efforts. Future CCCs may use the proposed framework to better understand and visualize their postmerger progress, in particular from the aspects of interprofessional, and interteam and intrateam dynamics.

Kinerja Keuangan Perbankan Syariah Sebelum dan Setelah Merger 3 Bank Umum Syariah

At the end of 2020, the Government of Indonesia through the Minister of State-Owned Enterprises announced that three state-owned Islamic banks, BNI Syariah, BRI Syariah and Bank Syariah Mandiri, will merge into Bank Syariah Indonesia. The merger comes amid the COVID-19 pandemic. The merger process of the three Islamic banks was marked by an agreement contained in the merger certificate. In 2021, on February 1, three Sharia banks BNI Syariah (BNIS), BRI Syariah (BRIS), Bank Syariah Mandiri (BSM) officially became Bank Syariah Indonesia (BSI). The merger of three state-owned Islamic commercial banks has answered the long wait to establish the largest Islamic commercial bank with strong capital. This study aims to analyze the differences in the financial performance of Islamic banking before and after the merger of 3 Islamic commercial banks. This study used secondary data by collecting data from Islamic Banking Statistics published by the Financial Services Authority. This study used Paired Sample T-test as a data analysis method. The results of this study show that there are significant differences in the financial performance of Islamic banks before and after the mergerof 3 Islamic commercial banks. This is because when a company merges, its wealth is automatically accumulated and funding costs are more efficient.

The weakest links in the crisis of the Spanish Savings Banks

AbstractThe bail‐out of the Spanish financial system was the largest in the Eurozone. The Spanish savings banks were the main direct recipients of public support between 2010 and 2012 and most of the bail‐out money was transferred to the savings banks after a series of mergers and acquisitions were completed among these entities. This article analyses the evolution of the savings banks in the years of economic growth preceding the crisis and their performance in the early aftermath of the 2007 crash using previously unexplored data from the annual financial statements of the 45 savings banks. We conclude it is possible to observe distinct behaviours among the savings banks during the boom years and we estimate the largest part of the bail‐out money corresponds to losses registered by a small number of savings banks that were already severely impaired before the merger process got under way.

Effects of Convective Mergers on the Evolution of Microphysical and Electrical Activity in a Severe Squall Line Simulated by WRF Coupled With Explicit Electrification Scheme

AbstractTo investigate the process of convective merger (CM) and its effect on thunderstorms evolution and corresponding electrical activity, a severe squall line that took place on 27 July 2015 over the Beijing Metropolitan Region (BMR) is simulated and studied using the Weather Research and Forecasting (WRF) model coupled with an explicit electrification lightning scheme (E‐WRF). The model‐simulated radar reflectivity reasonably captured the whole squall line evolution, including the merging of individual cells and storms. The variation of normalized flash frequency simulated by E‐WRF is highly consistent with the occurrence of a prominent flash rate surge during the CM both in the observation and the simulation. Cloud bridge is one of the regions where lightning events increase most. The upstream anvil and the sinking outflow led to the rapid connection and formation of new convective cells between the two older main storms. Subsequently, the mass of graupel and snow increased substantially at the middle level, and the mass of upper‐level ice was horizontally advected from upstream. During the merger, the in‐cloud charge distribution evolved from a staggered charge pocket structure into a vertically stratified five‐layer structure. This study supports the hypothesized role of CM in enhancing lightning activity, and further expands our understanding of CM effects on microphysics and charge‐redistribution.

Constraining the topological Gauss-Bonnet coupling from GW150914

Recent gravitational wave observation based on the data from GW150914 has confirmed Hawking's area theorem and estimated the increase in total horizon area during a merger process of two Kerr black holes. We use this result and the validity of the second law to obtain the first observational bound on the 4D topological Gauss-Bonnet coupling as $\gamma \lesssim 2.804^{+7.946}_{-1.169} \times 10^{9}\, m^2$ with $95 \%$ credibility.

Investigating the mass-ratio dependence of the prompt-collapse threshold with numerical-relativity simulations

The next observing runs of advanced gravitational-wave detectors will lead to a variety of binary neutron star detections and numerous possibilities for multimessenger observations of binary neutron star systems. In this context a clear understanding of the merger process and the possibility of prompt black hole formation after merger is important, as the amount of ejected material strongly depends on the merger dynamics. These dynamics are primarily affected by the total mass of the binary, however, the mass ratio also influences the postmerger evolution. To determine the effect of the mass ratio, we investigate the parameter space around the prompt-collapse threshold with a new set of fully relativistic simulations. The simulations cover three equations of state and seven mass ratios in the range of $1.0\ensuremath{\le}q\ensuremath{\le}1.75$, with five to seven simulations of binary systems of different total mass in each case. The threshold mass is determined through an empirical relation based on the collapse time, which allows us to investigate effects of the mass ratio on the threshold mass and also on the properties of the remnant system. Furthermore, we model effects of mass ratio and equation of state on tidal parameters of threshold configurations.

Pre-explosion Helium Shell Flash in Type Ia Supernovae

I study the possibility that within the frame of the core degenerate (CD) scenario for type Ia supernovae (SNe Ia) the merger process of the core of the asymptotic giant branch (AGB) star and the white dwarf (WD) maintains an envelope mass of ≈0.03 M ⊙ that causes a later helium shell flash. I estimate the number of pre-explosion helium shell flash events to be less than a few per cent of all CD scenario SNe Ia. A helium shell flash while the star moves to the left on the HR diagram as a post-AGB star (late thermal pulse—LTP) or along the WD cooling track (very LTP—VLTP) causes the star to expand and become a “born again” AGB star. Merger remnants exploding while still on the AGB form hydrogen-polluted peculiar SNe Ia, while an explosion inside an inflated born-again star results in an early flux excess in the light curve of the SN Ia. The fraction of systems that might show an early flux excess due to LTP/VLTP is <few × 10−4 of all SNe Ia, much below the observed fraction. In the frame of the CD scenario SNe Ia with early flux excess result from SN ejecta collision with planetary nebula fallback gas, or from mixing of 56Ni to the outer regions of the SN ejecta. Ongoing sky surveys might find about one case per year where LTP/VLTP influences the SN light curve.

Better Safe than Sorry? CEO Integrity and the M&amp;A Decision Process

In this study, we explore how the personality trait of CEO integrity unfolds in different stages of the Merger & Acquisition (M&A) process. Drawing on upper echelons theory and advances of applied psychology research, we argue that, in addition to formal rules, CEOs with high levels of integrity increasingly adhere to generally accepted informal norms. Therefore, they have a broader set of rules and norms that guide their behavior even, or particularly in discretionary situations. We conjecture that CEO integrity is associated with a lower latitude of action, affecting strategic M&A decisions. To obtain more nuanced insights, we apply a process perspective and derive suggestions on how CEO integrity unfolds in the different stages of the M&A process. Using data from S&P 1500 firms between 2006 and 2019, we find results consistent with our arguments. We conclude that CEO integrity attenuates opportunistic managerial behavior in the business context but at the expense of partially missing valuable strategic options.

GRB 160821B late afterglow rebrightening: A new candidate for magnetar-powered Merger-novae

For the first time on August 17, 2017, the LIGO-Virgo scientific collaboration detected a gravitational wave (GW) signal from a binary neutron star (BNS) merger event (i.e., GW170817), along with its multiwavelength electromagnetic counterparts. The detection of GW170817 confirmed that the BNS merger can produce both Gamma-ray Bursts (GRBs) and Merger-novae. Therefore, searching for the Merger-novae signature could help to justify whether those short GRBs without the detected GW parts are indeed resulting from the merger process of double compact stars. In this study, we thoroughly investigate the special characteristics of GRB 160821B's afterglow (including its internal X-ray plateau, late optical, and simultaneous X-ray rebrightening). We found that its multiband afterglow data could be well-interpreted by invoking magnetar dipole radiation, external shock afterglow emission and magnetar-powered Merger-novae radiation, inferring that the rebrightening signature of GRB 160821B is a novel candidate for magnetar-powered Merger-novae. The discovery of Merger-novae candidates, or GRBs, is important as they can provide an important basis for studying the merger rate of compact binary stars at high redshift, which is essential for studying the origin of heavy elements in the universe.

Level of Job Satisfaction among Acquisition and Erstwhile Bank Employees after Merger and Acquisition

Mergers and Acquisitions are taking place and have dramatically increased in every industry, and the banking industry is not left untouched. As we all know, the banking sector plays an important role in the Indian economy, and it is like a base of the Indian economy. In the last five years, most of the public sector banks were merged for the betterment of the banking industry, and 12 nationalized public sector banks remain after merger and acquisitions. Everything has its own advantages and disadvantages. So Mergers and Acquisitions also have their own advantages, such as - minimized operating expenses, a rise in the share, it prevents the shutdown of an unsuccessful business, avoiding duplication, etc., and disadvantages like:- a breakdown in communication, it creates joblessness, no working experience in the past, strict evaluation, complicated situations, etc. Apart from these things, many bank employees have experienced many psychological effects of mergers and acquisitions. The purpose of this research was to study the effects of the merger and acquisition process on the job satisfaction level of bank employees. For this purpose, the Job Satisfaction Scale (Developed by B. L. Dubey) was used to collect data from 100 bank employees from various banks in the Patna District of Bihar aged between 25 to 50 years. Analysis was done with the help of statistical techniques like mean, SD, and t – value. The result of this study reveals significant differences in job satisfaction levels among Erstwhile and Acquisition Bank Employees as well as officers and clerks groups belonging to the same bank.

General-relativistic neutrino-radiation magnetohydrodynamic simulation of seconds-long black hole-neutron star mergers

Seconds-long numerical-relativity simulations for black hole-neutron star mergers are performed for the first time to obtain a self-consistent picture of the merger and post-merger evolution processes. To investigate the case that tidal disruption takes place, we choose the initial mass of the black hole to be $5.4M_\odot$ or $8.1M_\odot$ with the dimensionless spin of 0.75. The neutron-star mass is fixed to be $1.35M_\odot$. We find that after the tidal disruption, dynamical mass ejection takes place spending $\lesssim 10$ ms together with the formation of a massive accretion disk. Subsequently, the magnetic field in the disk is amplified by the magnetic winding and magnetorotational instability, establishing a turbulent state and inducing the angular momentum transport. The post-merger mass ejection by the magnetically-induced viscous effect sets in at $\sim 300$-500\,ms after the tidal disruption, at which the neutrino luminosity drops below $\sim 10^{51.5}\,{\rm erg/s}$, and continues for several hundreds ms. A magnetosphere near the rotational axis of the black hole is developed after the matter and magnetic flux fall into the black hole from the accretion disk, and high-intensity Poynting flux generation sets in at a few hundreds ms after the tidal disruption. The intensity of the Poynting flux becomes low after the significant post-merger mass ejection, because the opening angle of the magnetosphere increases. The lifetime for the stage with the strong Poynting flux is $1$-2 s, which agrees with the typical duration of short-hard gamma-ray bursts.

Analysis of The Merger of PT Bank Syariah Indonesia in Legal and Sharia Perspective

Legal analysis are necessary to the general considerations for merging in order to create a national banking industry structure that is strong and competitive and responsive to future challenges and special considerations for the merger of PT BNI Syariah and PT Bank Syariah Mandiri into PT Bank Syariah Indonesia, namely as an effort to create new and contributing national development workers. Towards the welfare of the wider community and shows the performance of sharia banking in Indonesia which is modern, universal, and provides goodness for all nature (Rahmatan Lil ‘Aalamiin). This issue has significance to be studied based on law and sharia because it can be a legal reference in the future. The research was conducted based on normative legal research and qualitative analysis. The result of this research shows that the considerations and the merger process are based on statutory regulations and have complied with sharia principles in the sense of fulfilling the values and objectives of Islamic banks, as well as being in line with the function of law as a means of development in order to achieve the benefit of the people and all the people of Indonesia.

A Rapidly Fading Star as a Type II Obscuring Intermediate Luminosity Optical Transient (ILOT) in a Triple-star System

We propose a triple-star scenario where the merger of two pre-main-sequence low-mass stars, ≲0.5 M ⊙, ejects a dusty equatorial outflow that obscures and temporarily causes the disappearance of a massive star, ≳8 M ⊙. The merger of the low-mass inner binary powers a faint outburst, i.e., a faint intermediate luminosity optical transient (ILOT), but its main effect that can last for decades is to (almost) disappear the luminous massive star of the triple system. The typical orbital period of the triple system is about 1 yr. The merger process proceeds as the more-massive star of the two low-mass pre-main-sequence stars starts to transfer mass to the least-massive star in the triple system and as a result of that expands. This type II obscuring ILOT scenario in a triple-star system might account for the fading, rebrightening, and then refading of the massive post-main-sequence star M101-OC1. It might recover in about 20–100 yr. Our study strengthens the claim that there are alternative scenarios to account for the (almost) disappearing of massive stars, removing the need for failed supernovae. In these scenarios the disappearing is temporary, lasting from months to decades, and therefore at a later time the massive star explodes as a core collapse supernova, even if it forms a black hole.