• The Bulletin of The Korean Astronomical Society
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• v.44 no.2
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• pp.59.1-59.1
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• 2019

I will compute the rate of merger events in the multi-scale initial conditions to forecast special events driving the anisotropic assembly of dark matter halos and understand their impact on galaxy formation. Beyond halo mergers, I consider all sets of mergers, including wall and lament mergers, as they impact the geometry of galactic infall. Their one- and two-points statistics are computed as a function of cosmic time. I establish the relation between merger rates and connectivity, which is then used to assess the impact the large scale structures on assembly bias. The anisotropy of the cosmic web, as encoded in this theory, is a signi cant ingredient to describe jointly the physics and dynamics of galaxies in their environment, e.g. in the context of intrinsic alignments or morphological diversity.

• Asia Marketing Journal
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• v.26 no.1
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• pp.11-22
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• 2024

In the uncertainty fueled by the COVID-19 pandemic, mergers and acquisitions (M&As) have emerged as key strategic responses by firms. This study explores the impact of M&As on acquirers' firm value, utilizing a firm-level panel dataset from SDC Platinum. Empirical evidence recognizes the potential negative impact of transaction value in M&As and the pandemic's effect on market uncertainty that may occasionally exacerbate the adverse influence on acquirers' firm value. The findings indicate that effective marketing strategies, such as enhancing consumer awareness through increasing advertising expenditures, can counterbalance these influences, particularly during uncertain times. This study accentuates the importance of adaptability and a responsive marketing approach in managing M&As during a global crisis. It provides valuable perspectives on consumer awareness in strategic decision-making, offering insights for both academic and business communities and focusing on actionable strategies for navigating the global market turmoil transformed by COVID-19.

• Journal of the Korean association of regional geographers
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• v.16 no.6
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• pp.653-672
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• 2010

This study aimed to examine the characteristics and types of reformation of local administrative districts in a metropolitan area, focused on the experiences of Japan, where municipal mergers were carried out extensively over the last ten years. Local administrative districts substantially have spatial characteristics. Therefore, the reformation of local administrative districts should be followed by a detailed analysis of the characteristics of the local area. Unlike other regions, the metropolitan area of Japan shows discriminative characteristics of finance, population and centrality. In addition, there are many types of regional context within a metropolitan area. These could be categorized by finance, population, centrality and basic industry. In conclusion, I revealed that municipal mergers could be categorized by their background and process and many issues were contained in each category. It had a meaning that municipal mergers had characteristics that expanded the regional inequality. Therefore, different approaches considering regional characteristics would be required for a municipal merger to be a useful way for regional development.

• Journal of Korea Society of Digital Industry and Information Management
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• v.17 no.3
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• pp.105-119
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• 2021

The purpose of this study is to examine the organizational politics, resistance change, turnover intention, and organizational commitment of organizational members during mergers and acquisitions. Recently, many companies are interested in mergers and acquisitions for business diversification and market extension. A merger is a legal consolidation of two entities into one, whereas an acquisition occurs when one entity takes ownership of another entity's stock, equity interests, or assets. This research model establishes a structural equation model. This model is set in a causal relationship between manager's organizational politics, peer organizational politics, and change resistance and the change resistance has a causal relationship of turnover and tissue immersion. In particular, this study will test different of organizational politics by position. Research results, the organizational politics of managers and colleagues have shown increasing change resistance. The change resistance has resulted in a reduction of organizational commitment and an increase of turnover intention. Next, the position analysis showed that top management level, middle management level, and working-level officials showed different organizational politics. The working-level officials are influenced by their manager politics and are influenced in organizational commitment and turnover intention by change resistance. The middle manager level is influenced by the organizational politics of bosses and colleagues, and organizational commitment is weakened by change resistance. The CEO level is not affected by organizational politics in the company, but the turnover intention is strengthened and the organizational commitment is weakened by the change resistance. This study has contributed to further updating the theory of organizational politics based on mergers and acquisitions. As a practical implication, we suggest an organizational integration strategy for a new organization.

• Korean Journal of Construction Engineering and Management
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• v.6 no.5 s.27
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• pp.128-138
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• 2005

The success of mergers and acquisitions(M&A) have been evaluated by either measuring ex ante expectations for the specified time period(Window) or assessing long term-based post operating performance (ex post operating performance). In this study, utilizing cumulative abnormal return(CAR) method, M&As which are observed in both domestic and U.S. construction industries were analyzed then research outcomes are compared. Analysis results indicate that stockholders of public construction companies did not realize significant economic gains from M&As. In other words, there was no synergistic gains from the construction M&As. Also, no significant performance difference was observed between related and unrelated diversifications.

• The Bulletin of The Korean Astronomical Society
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• v.37 no.1
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• pp.47.2-47.2
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• 2012

Using deep images taken at Maidanak 1.5m telescope, at McDonald 2.1m telescope and Canada-France-Hawaii Telescope, Dupont 2.5m telescope we investigated the fraction of merging galaxies in hosts of 39 AGN which are brighter than M = -22 mag and nearer than z = 0.3. We found that 16 to 17 of 39 AGN host galaxies show the evidence of mergers like tidal tail, shell via careful visual inspection. We also studied with the merging fraction of a control sample, SDSS Stripe82 early type galaxies of which surface brightness limit and bulge magnitude are similar to that of the AGN sample. We found that merging fraction of the AGN sample is higher than that of early type galaxy samples in the whole range of bulge magnitude. This result implies that AGN activity may be correlated with merging. We also investigated the detailed morphology of merging feature. At least - 1/4 of control samples classified as a tidal and tidal+dust are shell structures. On the other hand only one (5.9%) of AGN sample classified as merger shows shell structures, and almost all merging AGNs show tidal tail features. From point of view that tidal tail may be at the early stage of merging, and shell may be at the late stage of mergers, this result suggests that AGN might be evolved into early-type galaxies after merging.

• The Bulletin of The Korean Astronomical Society
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• v.42 no.2
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• pp.46.3-46.3
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• 2017

We investigate the changes of galaxy spin orientation in dense environments using hydrodynamical cosmological zoom-in simulations for 17 galaxy clusters. This study reveals that the spin axes of satellite galaxies become more unstable when the satellites have lower initial $V/{\sigma}$, orbits with smaller pericenter distance, and higher merger rates after infall into the model clusters. The satellite galaxies involved in mergers after infall experience twice larger angular changes of spin axes than those without mergers. We also find that perturbation exerted by environments or neighboring galaxies strongly correlates with the stability of spin orientation and final $V/{\sigma}$. On the other hand, the size or stellar mass density of the satellites are not significantly affected by mergers or perturbation in cluster environments.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.4 no.4
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• pp.422-427
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• 2003

The purpose of this study analyzes the effects of M＆A between conglomerate and non-conglomerate corporational with 57 samples of firms during the period from 1990 to 1997 right before IMF. financial crisis. These models employed to measure effects of M＆A in this paper are both market model and market adjusted return model using test of t-statistics. Results of this article show that negative excess returns are observed for non-conglomerate mergers and positive excess gains are exhibited for conglomerate mergers. This implies that conglomerate mergers are more effective than firm specialization in terms of merger effects.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.123-129
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• 2020

The objective of this study is to examine the differentiated influence of sell-side advisors and buy-side advisors on mergers and acquisitions (M&A). Unlike prior studies on M&A advisors, the study addresses different roles of target and acquirer advisors, and explores their influences on the cumulative abnormal returns (CAR) and acquisition premiums with an empirical analysis of longitudinal data of M&As conducted by Japanese listed firms except financial companies from 1995 to 2012. M&A data were obtained from the Securities Data Corporation's (SDC) database, and the individual firm data were collected from the Nikkei Economic Electronic Databank System (NEEDS), which provides a wide range of corporate information including financial status, operational performance, and strategy. Using a sample of 452 cases for the CAR and 498 cases for the analysis of acquisition premiums, the empirical results support the hypotheses of the target advisor's positive association with CAR and acquirer advisor's positive association with acquisition premiums. The findings of this study indicate the target advisor's positive contribution to the success of acquisition process and performance, and acquirer advisor's negative influence on the deal progress. The study provides theoretical implications on M&A research and practical insights into the investment banking industry.

• The Bulletin of The Korean Astronomical Society
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• v.36 no.2
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• pp.79-79
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• 2011

Using deep images taken at Maidanak 1.5m telescope, at McDonald 2.1m telescope and Canada-France-Hawaii Telescope, we investigated the fraction of merging galaxies in hosts of 26 AGN which are brighter than M = -22.2 mag and nearer than z = 0.2. We found that 9 to 12 of 26 AGN host galaxies show the evidence of mergers like tidal tail, shell via visual inspection. We also studied with the merging fraction of a control sample, SDSS Stripe82 galaxies. Surface brightness limit and magnitude are similar to that of the AGN sample. We found that merging fraction of the AGN sample is higher than that of normal galaxy samples. This result implies that AGN activity may be correlated with merging. We also investigated the detailed morphology of merging feature. About ~1/4 of control sample classified as a tidal and tidal+dust are shell structures. On the other hand only one of the AGN sample shows shell structures. Almost all merging AGNs show tidal tail features. From point of view that tidal tail may be at the early stage of merging, and shell may be at the late stage of mergers, this result implies that AGN may be evolved into early-type galaxies after merging.