Using a sample of U.K. bidder companies from 1984 through 2007, we find that announcement returns are better for bidders of higher excess cash reserve. This suggests that acquisitions by high excess cash reserve bidders are not necessarily value-decreasing as is suggested by the agency theory and found in the U.S. market. Managers may need cash to ensure that all potential good investment oppor...

Objective: To assess the role of intravenous myocardial contrast echocardiography (MCE) in predicting functional recovery and regional or global left ventricular (LV) remodelling after acute myocardial infarction (AMI) compared with low dose dobutamine stress echocardiography (LDSE). Methods: 21 patients with anterior AMI and successful primary angioplasty underwent MCE and LDSE during the suba...

one of the significant strategies of the power systems is economic dispatch (ed) problem, which is defined as the optimal generation of power units to produce energy at the lowest cost by fulfilling the demand within several limits. the undeniable impacts of ramp rate limits, valve loading, prohibited operating zone, spinning reserve and multi-fuel option on the economic dispatch of practical p...

Operating reserve assessment has become increasingly important in the new utility environment in which ancillary services have been assigned a value and purchased in a competitive market. This paper first presents a procedure for compulsory provision of spinning reserve using a risk-constrained cost-based mechanism and then proposes a competitive market structure for spinning reserve procuremen...

OBJECTIVE To assess the role of intravenous myocardial contrast echocardiography (MCE) in predicting functional recovery and regional or global left ventricular (LV) remodelling after acute myocardial infarction (AMI) compared with low dose dobutamine stress echocardiography (LDSE). METHODS 21 patients with anterior AMI and successful primary angioplasty underwent MCE and LDSE during the suba...

Over the next 10 years a major controversy developed over whether the Federal Reserve recognized or placed enough emphasis on its responsibility for controlling the growth of the money stock. The related question of which operating strategy to follow in controlling the money stock was pushed to the background. Economists can argue at great lengths over the extent to which the Federal Reserve tr...

Airlines operate in an uncertain environment for many reasons, for example due to the effects of weather, traffic or crew unavailability (due to delay or sickness). This work focuses on airline reserve crew scheduling under crew absence and journey time uncertainty for an airline operating a single hub and spoke network. Reserve crew can be used to cover absent crew or delayed connecting crew. ...

The Expectation Hypothesis of the Term Structure, henceforth EHTS 1 , is a fundamental building block of financial and macroeconomic theory. It has particularly important implications for understanding and predicting future movements in interest rates and for the conduct of monetary policy by central banks. The theory posits that the slope of the yield curve should reflect market expectations o...