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Laptop

Laptop

Last Update: 2013-02-08
Usage Frequency: 1
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Laptop

Lappy

Last Update: 2013-02-08
Usage Frequency: 1
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Reference: Wikipedia

Laptop

Laptops

Last Update: 2012-12-23
Usage Frequency: 1
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Reference: Wikipedia

Laptop

Notebook computer

Last Update: 2012-09-10
Usage Frequency: 1
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Reference: Wikipedia

Laptop Centre Dibobol 50 Laptop Hilang

Laptop Centre burglarized 50 Missing Laptops

Last Update: 2011-01-06
Subject: General
Usage Frequency: 1
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contoh text report bertema music

example text report themed music

Last Update: 2014-09-23
Subject: General
Usage Frequency: 3
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Reference: Anonymous

penjelasan report text pepohonan-stem

text Reports explanation trees -stem

Last Update: 2014-09-08
Subject: General
Usage Frequency: 1
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Reference: Anonymous
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This Page Will Allow You To Create Your Own Ad Products. Use the Tabs To Create, Text, Image or Video Ads *NOTE Advertisers cannot purchase ads on your website until your ad zone code has been placed on your website. Once the AdHitz system verifies placement of the code, your ad zones can then be purchased. After your ad zones and types are set, you should create code to place on your website. Create code by Clicking Here. e.

Sick

Last Update: 2014-09-05
Subject: General
Usage Frequency: 1
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Reference: Anonymous

googl1 00:00:00,100 --> 00:00:01,600 Previously on criminal minds... 2 00:00:01,700 --> 00:00:03,400 Elle, 2 weeks of pure heaven. 3 00:00:03,500 --> 00:00:04,600 Do not call me for anything. 4 00:00:04,700 --> 00:00:06,300 Have a great time. You all deserve a break. 5 00:00:06,400 --> 00:00:07,500 Welcome to paradise. 6 00:00:07,600 --> 00:00:09,000 Your resort is beautiful. 7 00:00:09,100 --> 00:00:12,000 A man said there had been a murder in room 19. 8 00:00:12,100 --> 00:00:13,000 Get down! Aah! 9 00:00:13,100 --> 00:00:14,500 Who are you?! 10 00:00:14,600 --> 00:00:15,800 Where is the victim's head? 11 00:00:15,900 --> 00:00:16,900 I'm here on vacation. 12 00:00:17,000 --> 00:00:18,600 From jamaica. Someone sent you a head? 13 00:00:18,600 --> 00:00:20,300 Morgan and elle are in jamaica right now. 14 00:00:20,400 --> 00:00:21,500 Agent greenaway wasn't even here 15 00:00:21,600 --> 00:00:22,600 When this man was killed. 16 00:00:22,600 --> 00:00:23,700 How did he know where we were? 17 00:00:23,800 --> 00:00:25,500 A man came to the door with something 18 00:00:25,600 --> 00:00:26,500 He said you would need right away. 19 00:00:26,600 --> 00:00:27,700 He came to the door? 20 00:00:27,700 --> 00:00:29,100 I was playing a game yesterday. 21 00:00:29,200 --> 00:00:31,500 The hacker could have gotten into my computer first. 22 00:00:31,600 --> 00:00:34,100 I have far less protection on my own laptop. 23 00:00:34,200 --> 00:00:35,500 How could you be that stupid? 24 00:00:35,600 --> 00:00:37,000 I found him. You what? 25 00:00:37,100 --> 00:00:38,100 I know who he is, the hacker, 26 00:00:38,100 --> 00:00:39,100 His name's geist. 27 00:00:39,200 --> 00:00:40,500 Now you're on a quest. 28 00:00:40,600 --> 00:00:42,200 A young girl's life depends 29 00:00:42,300 --> 00:00:43,800 On the successful completion of it. 30 00:00:43,900 --> 00:00:46,100 Aah! Aah! 31 00:00:46,200 --> 00:00:48,900 The one rule is, only the members of your team 32 00:00:49,000 --> 00:00:50,500 May participate in the quest. 33 00:00:51,800 --> 00:00:52,800 He's given us all the clues 34 00:00:52,800 --> 00:00:54,700 Needed to complete this quest, 35 00:00:54,800 --> 00:00:56,300 Including this book code. 36 00:00:56,400 --> 00:00:58,900 Each one of these sets of numbers represents a particular word. 37 00:00:58,900 --> 00:01:00,200 From what book? 38 00:01:00,200 --> 00:01:02,200 Jj, get some reporters here as soon as possible. 39 00:01:02,200 --> 00:01:04,100 Didn't he say that we had to keep this under the team? 40 00:01:04,200 --> 00:01:05,500 We're looking for this man... 41 00:01:05,500 --> 00:01:08,400 No, no, no, no, i said no outsiders. 42 00:01:08,500 --> 00:01:10,000 I'm awake. 43 00:01:10,100 --> 00:01:11,300 Anderson, take greenaway home. 44 00:01:11,400 --> 00:01:12,900 Yes, sir. Get some sleep. 45 00:01:13,000 --> 00:01:15,400 I told you, it was one rule. 46 00:01:15,500 --> 00:01:16,600 One rule! 47 00:01:21,200 --> 00:01:22,900 "The defects and faults of the mind 48 00:01:22,900 --> 00:01:25,200 "Are like wounds in the body. 49 00:01:25,200 --> 00:01:26,300 "After all imaginable care has been taken 50 00:01:26,400 --> 00:01:28,700 "To heal them up, 51 00:01:28,700 --> 00:01:32,400 Still there will be a scar left behind." 52 00:01:32,400 --> 00:01:35,000 French writer francois la rochefoucauld. 53 00:01:41,400 --> 00:01:42,500 Sir, i thought you'd want to know. 54 00:01:42,500 --> 00:01:44,700 We identified the girl in the video... 55 00:01:44,800 --> 00:01:46,400 Rebecca bryant. 56 00:01:46,400 --> 00:01:48,500 Leave it on the desk. 57 00:02:07,000 --> 00:02:09,400 Reid, how many books do you think are published in a year? 58 00:02:09,400 --> 00:02:10,600 In the whole world? 59 00:02:10,600 --> 00:02:11,700 Thousands. 60 00:02:11,800 --> 00:02:14,400 Great, and all we gotta do is find one. 61 00:02:16,100 --> 00:02:17,800 You know, i can see this unsub 62 00:02:17,800 --> 00:02:19,000 Gettin' our phone numbers and addresses 63 00:02:19,000 --> 00:02:20,000 From the bureau personnel files, 64 00:02:20,100 --> 00:02:21,400 But come on, man, 65 00:02:21,500 --> 00:02:23,700 It really says in there that gideon digs nellie fox? 66 00:02:23,800 --> 00:02:25,700 Or that jj collects butterflies? 67 00:02:25,700 --> 00:02:27,600 I didn't even know these things about us. 68 00:02:27,700 --> 00:02:29,200 "Ever would it be night, 69 00:02:29,200 --> 00:02:31,900 But always clear day to any man's sight." 70 00:02:31,900 --> 00:02:34,800 Reid, not again with the poem from the music box, please. 71 00:02:34,800 --> 00:02:35,900 There's something familiar about it. 72 00:02:36,000 --> 00:02:38,800 I think i've heard it somewhere before. 73 00:02:38,900 --> 00:02:40,400 Thought you had a photographic memory. 74 00:02:40,400 --> 00:02:41,700 Eidetic memory, 75 00:02:41,800 --> 00:02:43,100 And that's primarily related to things i read. 76 00:02:43,200 --> 00:02:45,100 Like i said, this is something i think i've heard. 77 00:02:45,200 --> 00:02:46,200 Which leaves us... 78 00:02:46,300 --> 00:02:47,200 Nowhere, that's where it leaves is. 79 00:02:47,300 --> 00:02:48,300 Not necessarily. 80 00:02:48,400 --> 00:02:49,400 How would we proceed 81 00:02:49,500 --> 00:02:52,000 If we didn't have all these clues? 82 00:02:52,100 --> 00:02:53,500 What's the first thing we'd look at? 83 00:02:53,600 --> 00:02:54,900 Victimology. 84 00:02:54,900 --> 00:02:56,500 Why this particular victim in this particular place 85 00:02:56,600 --> 00:02:57,600 At this particular time? 86 00:02:57,600 --> 00:02:59,100 We have a victim, don't we? 87 00:02:59,200 --> 00:03:01,200 Rebecca bryant. 88 00:03:01,300 --> 00:03:03,400 Missin' out of south boston, virginia. 89 00:03:03,400 --> 00:03:05,300 You can get there in a few hours if you hurry. 90 00:03:05,400 --> 00:03:07,900 Take jj. Find out everything there is to know about this girl. 91 00:03:07,900 --> 00:03:08,900 You go it. 92 00:03:08,900 --> 00:03:10,000 Been lettin' him lead us around 93 00:03:10,100 --> 00:03:11,000 Like he's somethin' more than he is. 94 00:03:11,100 --> 00:03:12,600 He's just another unsub. 95 00:03:12,600 --> 00:03:13,800 Let's start puttin' together a profile. 96 00:03:13,900 --> 00:03:15,300 What you want me to do? 97 00:03:15,400 --> 00:03:16,500 Just keep workin' on this. 98 00:03:16,500 --> 00:03:18,100 If anybody can put it together, you can. 99 00:03:40,600 --> 00:03:42,400 Please help me. 100 00:03:48,000 --> 00:03:49,000 Anderson?e translit

peedback

Last Update: 2014-07-24
Subject: General
Usage Frequency: 1
Quality:
Reference: Anonymous
Warning: Contains invisible HTML formatting

Pentingnya SOP (Standard Operating Procedure) Keberadaan SOP (Standard Operating Procedure) sangat penting bagi operasional suatu perusahaan. Dengan SOP kita bisa mengantisipasi berbagai situasi yang mungkin terjadi dalam menjalankan bisnis kita. SOP ini harus kita perjuangkan sejak kita mendirikan perusahaan. Pada tahap awal sop ini terlihat sederhana, tetapi seiring dengan perjalanan menjalankan bisnis kita akan semakin memperlengkapi sop kita. SOP akan memberi arah bagi staf perusahaan dalan menjalankan pekerjaannya. Dengan adanya SOP maka karyawan mengetahui lingkup pekerjaannya. Dengan kejelasan ruang lingkup ini, maka job description akan jelas sehingga tidak tumpang tindih. Dengan demikian maka kinerja staf perusahaan akan terjaga dengan baik. SOP ini bisa kita bagi ke dalam berbagai bidang misalnya: 1. SOP dalam menangani calon client 2. SOP dalam mengerjakan project 3. SOP layanan purna jual 4. SOP quality control 5. SOP keuangan 6. SOP penanganan barang dan lain-lain 7. Karena sop ini memakai berbagai skill yang dimiliki beberapa staf, maka kita bisa membagi sub- sub tersebut kepada staf yang memiliki keahlian sesuai bidangnya. SOP ini harus terus dievaluasi dan dikembangkan. Dalam periode tertentu minimal 6 bulan sekali SOP harus dievaluasi dan diperbarui untuk perbaikan kinerja perusahaan secara menyeluruh.

QUERY LENGTH LIMIT EXCEDEED. MAX ALLOWED QUERY : 500 CHARS

Last Update: 2014-04-03
Subject: General
Usage Frequency: 1
Quality:
Reference: Anonymous

Nomor : 080/SK/II/2014 12 Februari 2014 Lampiran : - Hal : Pesanan Barang Kepada Bapak Wijaya Lee toko “Pelangi Elektronik” Jl. Gatot Subroto No. 26 Jakarta Selatan Dengan Hormat, Berdasarkan informasi yang kami terima dari brousur anda pada tanggal 05 februari 2014, no 55/PE/SP/II/2014 kami ingin memesang barang-barang elektronik di toko anda yaitu sebagai berikut : No NAMA BARANG MEREK BANYAKNYA HARGA JUMLAH 1 Netbook Aple 2 buah Rp.5.000.000 Rp.20.000.000 2 Laptop Toshiba 3 buah Rp.4.000.000 Rp.12.000.000 3 Printer Cannon 6 buah Rp.400.000 Rp.2.400.000 4 LCD Thosiba 1 buah Rp.5.000.000 RP.5.000.000 Kami berharap barang-barang yang dipesan tiba di perusahaan paling lambat 1 minggu setelah pemesanan. Mengenai pembayaran akan segera kami kirimkan setelah barang kami terima. Atas perhatian dan kerjasama Saudara kami mengucapkan terima kasih. Hormat kami, Wahyudi Sri lokeswara,ST Manager Pemasaran

Afrikaans

Last Update: 2014-02-25
Usage Frequency: 1
Quality:
Reference: Wikipedia

1 Predicting Australian Takeover Targets: A Logit Analysis Maurice Peat* Maxwell Stevenson* * Discipline of Finance, School of Finance, The University of Sydney Abstract Positive announcement-day adjusted returns to target shareholders in the event of a takeover are well documented. Investors who are able to accurately predict firms that will be the subject of a takeover attempt should be able to earn these excess returns. In this paper a series of probabilistic regression models were developed that use financial statement variables suggested by prior research as explanatory variables. The models, applied to in-sample and out-of-sample data, led to predictions of takeover targets that were better than chance in all cases. The economic outcome resulting from holding a portfolio of the predicted targets over the prediction period are also analysed. Keywords: takeovers, targets, prediction, classification, logit analysis JEL Codes: G11, G17, G23, G34 This is a draft copy and not to be quoted. 2 1. Introduction In this paper our aim is to accurately predict companies that will become takeover targets. Theoretically, if it is possible to predict takeovers with accuracy greater than chance, it should be possible to generate abnormal returns from holding a portfolio of the predicted targets. Evidence of abnormal returns of 20% to 30% made by shareholders of firms on announcement of a takeover bid is why prediction of these events is of interest to academics and practitioners alike. The modelling approach adopted in this study was based on the discrete choice approach used by Palepu (1986) and Barnes (1999). The models were based on financial statement information, using variables suggested by the numerous theories that have been put forward to explain takeover activity. The performance of the models was evaluated using statistical criteria. Further, the predictions from the models were rated against chance and economic criteria through the formation and tracking of a portfolio of predicted targets. Positive results were found under both evaluation criteria. Takeover prediction studies are a logical extension of the work of Altman (1968) who used financial statement information to explain corporate events. Early studies by Simkowitz and Monroe (1971) and Stevens (1973) were based on the Multiple Discriminant Analysis (MDA) technique. Stevens (1973) coupled MDA with factor analysis to eliminate potential multicollinearity problems and reported a predictive accuracy of 67.5%, suggesting that takeover prediction was viable. Belkaoui (1978) and Rege (1984) conducted similar analyses in Canada with Belkaoui (1978) confirming the results of these earlier researchers and reporting a predictive accuracy of 85% . Concerns were raised by Rege (1984) who was unable to predict with similar accuracy. These concerns were also raised in research by others such as Singh (1971) and Fogelberg, Laurent, and McCorkindale (1975). Reacting to the wide criticism of the MDA method, researchers began to use discrete choice models as the basis of their research. Harris et al. (1984) used probit analysis to develop a model and found that it had extremely high explanatory power, but were unable to discriminate between target and non-target firms with any degree of accuracy. Dietrich and Sorensen (1984) continued this work using a logit model and achieved a classification accuracy rate of 90%. Palepu (1986) addressed a number of methodological problems in takeover prediction. He suggested the use of statebased prediction samples where a number of targets were matched with non-targets 3 for the same sample period. While this approach was appropriate for the estimation sample, it exaggerated accuracies within the predictive samples because the estimated error rates in these samples were not indicative of error rates within the population of firms. He also proposed the use of an optimal cut-off point derivation which considered the decision problem at hand. On the basis of this rectified methodology, along with the application of a logit model to a large sample of US firms, Palepu (1986) provided evidence that the ability of the model was no better than a chance selection of target and non-target firms. Barnes (1999) also used the logit model and a modified version of the optimal cut-off rule on UK data. His results indicated that a portfolio of predicted targets may have been consistent with Palepu’s finding, but he was unable to document this in the UK context due to model inaccuracy. In the following section the economic explanations underlying takeover activity are discussed. Section 3 outlines our takeover hypotheses and describes the explanatory variables that are used in the modelling procedure. The modelling framework and data used in the study is contained in Section 4, while the results of our model estimation, predictions, classification accuracy and portfolio economic outcomes are found in Section 5. We conclude in Section 6. 2. Economic explanations of takeover activity Economic explanations of takeover activity have suggested the explanatory variables that were included in this discrete choice model development study. Jensen and Meckling (1976) posited that agency problems occurred when decision making and risk bearing were separated between management and stakeholders1, leading to management inefficiencies. Manne (1965) and Fama (1980) theorised that a mechanism existed that ensured management acted in the interests of the vast number of small non-controlling shareholders2. They suggested that a market for corporate control existed in which alternative management teams competed for the rights to control corporate assets. The threat of acquisition aligned management objectives with those of stakeholders as managers are terminated in the event of an acquisition in order to rectify inefficient management of the firm’s assets. Jensen and Ruback (1983) suggested that both capital gains and increased dividends are available to an 1 Stakeholders are generally considered to be both stock and bond holders of a corporation. 2 We take the interests of shareholders to be in the maximization of the present value of the firm. 4 acquirer who could eliminate the inefficiencies created by target management, with the attractiveness of the firm for takeover increasing with the level of inefficiency. Jensen (1986) looked at the agency costs of free cash flow, another form of management inefficiency. In this case, free cash flow referred to cash flows in excess of positive net present value (NPV) investment opportunities and normal levels of financial slack (retained earnings). The agency cost of free cash flow is the negative NPV value that arises from investing in negative NPV projects rather than returning funds to investors. Jensen (1986) suggested that the market value of the firm should be discounted by the expected agency costs of free cash flow. These, he argued, were the costs that could be eliminated either by issuing debt to fund an acquisition of stock, or through merger with, or acquisition of a growing firm that had positive NPV investments and required the use of these excess funds. Smith and Kim (1994) combined the financial pecking order argument of Myers and Majluf (1984) with the free cash flow argument of Jensen (1986) to create another motivational hypothesis that postulated inefficient firms forgo profitable investment opportunities because of informational asymmetries. Further, Jensen (1986) argued that, due to information asymmetries that left shareholders less informed, management was more likely to undertake negative NPV projects rather than returning funds to investors. Smith and Kim (1994) suggested that some combination of these firms, like an inefficient firm and an efficient acquirer, would be the optimal solution to the two respective resource allocation problems. This, they hypothesised, would result in a market value for the combined entity that exceeded the sum of the individual values of the firms. This is one form of financial synergy that can arise in merger situations. Another form of financial synergy is that which results from a combination of characteristics of the target and bidding firms. Jensen (1986) suggested that an optimal capital structure exists, whereby the marginal benefits and marginal costs of debt are equal. At this point, the cost of capital for a firm is minimised. This suggested that increases in leverage will only be viable for those firms who have free cash flow excesses, and not for those which have an already high level of debt. Lewellen (1971) proposed that in certain situations, financial efficiencies may be realized without the realization of operational efficiencies. These efficiencies relied on a simple Miller and Modigliani (1964) model. It proposed that, in the absence of corporate taxes, an increase in a firm’s leverage to reasonable levels would increase the value of the equity share of the company due to a lower cost of capital. By a 5 merger of two firms, where either one or both had not utilised their borrowing capacity, would result in a financial gain. This financial gain would represent a valuation gain above that of the sum of the equity values of the individual firms. However, this result is predicated on the assumption that the firms need to either merge or be acquired in order to achieve this result. Merger waves are well documented in the literature. Gort (1969) suggested that industry disturbances are the source of these merger waves, his argument being that they occurred in response to discrepancies between the valuation of a firm by shareholders and potential acquirers. As a consequence of economic shocks (such as deregulation, changes in input or output prices, etc.), expectations concerning future cash flow became more variable. This results in an increased probability that the value the acquirer places on a potential target is greater than its current owner’s valuation. The result is a possible offer and subsequent takeover. Mitchell and Mulherin (1996), in their analysis of mergers and acquisitions in the US during the 1980s, provided evidence that mergers and acquisitions cluster by industries and time. Their analysis confirmed the theoretical and empirical evidence provided by Gort (1969) and provided a different view suggesting that mergers, acquisitions, and leveraged buyouts were the least cost method of adjusting to the economic shocks borne by an industry. These theories suggested a clear theoretical base on which to build takeover prediction models. As a result, eight main hypotheses for the motivation of a merger or acquisition have been formulated, along with twenty three possible explanatory variables to be incorporated predictive models. 3. Takeover hypotheses and explanatory variables The most commonly accepted motivation for takeovers is the inefficient management hypothesis.3 The hypothesis states that inefficiently managed firms will be acquired by more efficiently managed firms. Accordingly, H1: Inefficient management will lead to an increased likelihood of acquisition. Explanatory variables suggested by this hypothesis as candidates to be included in the specifications of predictive models included: 1. ROA (EBIT/Total Assets – Outside Equity Interests) 3 It is also known as the disciplinary motivation for takeovers. 6 2. ROE (Net Profit After Tax / Shareholders Equity – Outside Equity Interests) 3. Earnings Before Interest and Tax Margin (EBIT/Operating Revenue) 4. EBIT/Shareholders Equity 5. Free Cash Flow (FCF)/Total Assets 6. Dividend/Shareholders Equity 7. Growth in EBIT over past year, along with an activity ratio, 8. Asset Turnover (Net Sales/Total Assets) While there are competing explanations for the effect that a firm’s undervaluation has on the likelihood of its acquisition by a bidder, there is consistent agreement across all explanations that the greater the level of undervaluation then the greater the likelihood a firm will be acquired. The hypothesis that embodies the impact of these competing explanations is as follows: H2: Undervaluation of a firm will lead to an increased likelihood of acquisition. The explanatory variable suggested by this hypothesis is: 9. Market to book ratio (Market Value of Securities/Net Assets) The Price Earnings (P/E) ratio is closely linked to the undervaluation and inefficient management hypotheses. The impact of the P/E ratio on the likehood of acquisition is referred to as the P/E hypothesis: H3: A high Price to Earnings Ratio will lead to a decreased likelihood of acquisition. It follows from this hypothesis that the P/E ratio is a likely candidate as an explanatory variable for inclusion in models for the prediction of potential takeover targets. 10. Price/Earnings Ratio The growth resource mismatch hypothesis is the fourth hypothesis. However, the explanatory variables used in models specified to examine this hypothesis capture growth and resource availability separately. This gives rise to the following: H4: Firms which possess low growth / high resource combinations or, alternatively, high growth / low resource combinations will have an increased likelihood of acquisition. The following explanatory variables suggested by this hypothesis are: 7 11. Growth in Sales (Operating Revenue) over the past year 12. Capital Expenditure/Total Assets 13. Current Ratio (Current Assets/Current Liabilities) 14. (Current Assets – Current Liabilities)/Total Assets 15. Quick Assets (Current Assets – Inventory)/Current Liabilities The behaviour of some firms to pay out less of their earnings in order to maintain enough financial slack (retained earnings) to exploit future growth opportunities as they arise, has led to the dividend payout hypothesis: H5: High payout ratios will lead to a decreased likelihood of acquisition. The obvious explanatory variable suggested by this hypothesis is: 16. Dividend Payout Ratio Rectification of capital structure problems is an obvious motivation for takeovers. However, there has been some argument as to the impact of low or high leverage on acquisition likelihood. This paper proposes a hypothesis known as the inefficient financial structure hypothesis from which the following hypothesis is derived. H6: High leverage will lead to a decreased likelihood of acquisition. The explanatory variables suggested by this hypothesis include: 17. Net Gearing (Short Term Debt + Long Term Debt)/Shareholders Equity 18. Net Interest Cover (EBIT/Interest Expense) 19. Total Liabilities/Total Assets 20. Long Term Debt/Total Assets The existence of Merger and Acquisition (M&A) activity waves, where takeovers are clustered in wave-like profiles, have been proposed as indicators of changing levels of M&A activity over time. It has been argued that the identification of M&A waves, with the corresponding improved likelihood of acquisition when the wave is surging, captures the effect of the rate of takeover activity at specific points in time, and serves as valuable input into takeover prediction models. Consistent with M&A activity waves and their explanation as a motivation for takeovers is the industry disturbance hypothesis: 8 H7: Industry merger and acquisition activity will lead to an increased likelihood of acquisition. An industry relative ratio of takeover activity is suggested by this hypothesis: 21. The numerator is the total bids launched in a given year, while the denominator is the average number of bids launched across all the industries in the ASX. Size will have an impact on the likelihood of acquisition. It seems plausible that smaller firms will have a greater likelihood of acquisition due to larger firms generally having fewer bidding firms with the resources to acquire them. This gives rise to the following hypothesis: H8: The size of a firm will be negatively related to the likelihood of acquisition. Explanatory variables that can be employed to control for size include: 21. Log (Total Assets) 22. Net Assets 4. Data and Method The data requirements for the variables defined above are derived from the financial statements and balance sheet date price information for Australian listed companies. The financial statement information was sourced from the AspectHuntley data base which includes annual financial statement data for all ASX listed companies between 1995 and 2006. The database includes industry classifications for all firms included in the construction of industry relative ratios. Lists of takeover bids and their respective success were obtained from the Connect4 database. This information enabled the construction of variables for relative merger activity between industries. Additionally, stock prices from the relevant balance dates of all companies were sourced from the AspectHuntley online database, the SIRCA Core Price Data Set and Yahoo! Finance. 4.1 The Discrete Choice Modelling Framework The modelling procedure used is the nominal logit model, made popular in the bankruptcy prediction literature by Ohlson (1980) and, subsequently, in the takeover prediction literature by Palepu (1986). Logit models are commonly utilised for dichotomous state problems. The model is given by equations [1] to [3] below. 9 [3] The logit model was developed to overcome the rigidities of the Linear Probability Model in the presence of a binary dependent variable. Equations [1] and [2] show the existence of a linear relationship between the log-odds ratio (otherwise known as the logit Li) and the explanatory variables. However, the relationship between the probability of the event and acquisition likelihood is non-linear. This non-linear relationship has a major advantage that is demonstrated in equation [3]. Equation [3] measures the change in the probability of the event as a result of a small increment in the explanatory variables, . When the probability of the event is high or low, the incremental impact of a change in an explanatory variable on the likelihood of the event will be compressed, requiring a large change in the explanatory variables to change the classification of the observation. If a firm is clearly classified as a target or non-target, a large change in the explanatory variables is required to change its classification. 4.2 Sampling Schema Two samples were used in the model building and evaluation procedure. They were selected to mimic the problem faced by a practitioner attempting to predict takeover targets into the future. The first sample was used to estimate the model and to conduct in-sample classification. It was referred to as the Estimation Sample. This sample was based on financial data for the 2001 and 2002 financial years for firms that became takeover targets, as well as selected non-targets, between January, 2003 and D

saya pergi ke kediri

Last Update: 2014-02-23
Usage Frequency: 1
Quality:
Reference: Wikipedia
Warning: Contains invisible HTML formatting

Dear Pak Lim, FYI, Berdasarkan program mengenai laporan harian via Email yang sudah berjalan dan kelengkapan pendukung diatas kapal armada PT BAL, saya ingin melaporkan bahwa ada beberapa fasilitas laptop diatas kapal maupun kantor yang mengalami kerusakan, yaitu di kapal TJA 286, TJA 285, TJA 2812, PEC 249, dan laptop radio, tercatat pembelian laptop tersebut pada tanggal 6/5/2012 dan laporan kerusakan pertama dari TJA 2812 pada tanggal 12/12/2012, TJA 286 Tanggal 31 Desember 2012, Tja 285 Tanggal 3/04/2013 dan PEC 249 pada bulan May 2013 dan sampai sekarang masih belum bisa diperbaiki karena kerusakan pada VGA card yang menyatu dengan mainboardnya, langkah yang sudah diambil untuk mengatasi masalah ini sudah kita bawa ke DATACOM dan pihak DATACOM sendiri sampai sekarang kesulitan untuk mencari sparepart yang sama dengan spesifikasi laptop tersebut karena menurut mereka seri laptop Toshiba L740 sudah tidak diproduksi lagi dan kalaupun ada harga untuk mainboardnya sama dengan harga laptop yang baru. Demikian pemberitahuan ini saya buat untuk kelancaran operasional PT BAL, Terimakasih atas perhatiannya dan mohon saran dari Bapak. Best Regards, Wawan/Herman

translation of Britons to Indonesia

Last Update: 2013-06-13
Subject: General
Usage Frequency: 1
Quality:
Reference: Anonymous

Koneksi ke %s tidak aman, dan tidak disarankan untuk mengirim/menerima informasi yang sensitif.\n\nKomunikasi dilakukan menggunakan text saja, dan tidak ada jaminan keabsahan server

The connection to %s is insecure, and should not be used to exchange sensitive information.\n\nThe communication is done in plain text, and there is no way to guarantee the identity of the server.

Last Update: 2014-10-01
Subject: Computer Science
Usage Frequency: 1
Quality:
Reference: MatteoT

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