Cross-border M & A had became a very important method of foreign direct investment for global multinational companies, and it is playing an increasingly important role to the growth of international production. Not only in developed countries but also in developing countries.For most of Chinese large-scale companies, Cross-border M&A had became a very attractive way to expend their business. Thus, Chinese cross-border M&A has developed rapidly. However, Different with the trend of global M&A market, the Chinese cross-border M&A prefer cash payment. Well then, How many payment forms are widely used in Chinese cross-border M&A? What are the determine factors of cash-payment preference in Chinese cross-border M&A? Does cash payment have the best operational performance in Chinese cross-border M&A? I will search answers for these three questions in this paper.In order to answer these three questions, first, I drew on the results of previous studies to classify the different available payment forms in Chinese cross-border M&A and detailed expound the characteristics and operate approaches of them. Then, Combined with my understanding of Chinese cross-border M&A, I summarized some possible factors which determined the preference in cash-payment for Chinese cross-border M&AAfter all of these done, I chose some important financial indexes as data in my empirical study to analyze the performance of different payment forms in applied of Chinese cross-border M&A. And tested if cash payment have the best operational performance in Chinese cross-border M&A.

Globalization has had a well-documented impact on higher education (e.g. Giddens, 1990; Ginkle, 2003; Altbach and Knight, 2007). The attendant massive expansion of higher education both globally and at national level has brought with it increasing concerns regarding quality. One context within which such concerns are evident is that of Transnational Higher Education (TNHE). TNHE, also known as cross-border education, mainly refers to education that is provided to students residing in a country other than the one where the awarding institution is located (UNESCO/Council of Europe, 2001). TNHE takes various forms and serves multiple objectives but the multidimensional phenomenon can be described as an example of Policy Borrowing (Phillips and Ochs, 2003). Oman is a country whose modern educational system was established very recently (1970) and is still expanding rapidly. As elsewhere in the ‘developing world’, the Omani government has met the increasing demand for higher education in large part by encouraging private higher education provision. However, this has been associated with an increasing desire to build capacity and assure quality of provision. In response, the Omani Ministry of Higher Education turned to TNHE for solutions: private sector providers in Oman have been required to enter academic partnerships with internationally recognized universities. In this research, I investigate the rationales, approaches and perceptions of this process from a receiver country perspective and address the implications. Most published research on TNHE focuses on providers’ perspectives and activities, and the impact of TNHE has only been studied in a small number of generally sizeable countries. However, the Gulf States, especially Oman, have not received the same attention, mainly due to the fact that TNHE is a recent phenomenon in this part of the world. Research to date in Oman thus remains very limited (Ameen, Chapman and Al Barawani, 2010; Al Barawani, Ameen and Chapman, 2011). The main objective of the research at the centre of this Thesis was therefore to explore the expectations, experiences and conclusions of a sample of staff of three private sector universities in Oman regarding TNHE, within which their university was/is active. The topic is investigated in the context of national policy and institutional TNHE strategy. Data were generated through documentary analysis and qualitative interviews. In-depth face-to-face interviews were conducted in three stages: Stage one: desk research and pilot study to set the direction for the research (8 participants) Stage two: interviews carried out over multiple visits to the three private universities selected as the cases (29 participants) Stage three: interviews with policy- and decision-makers (6 participants), to help in the process of reviewing and contextualizing the data from Stage 2. Data analysis revealed variation from the existing literature on this topic when it comes to defining the concept of affiliation, which is central to the approach taken in Oman to TNHE, as well as inconsistency across the three case universities, highlighting the complex dynamic that exists, with hugely varied expectations, numerous rationales and motivations and varying experiences being reported. Findings also reveal that, as reported by the majority of interviewees, the key rationales for engagement with TNHE are building capacity and assuring quality, alongside other rationales such as generating revenue and increasing student recruitment, which form the main driving force on the part of receiver institutions. This is consistent with the overall national imperative of increasing the number of HE places available for Oman’s young people, although the focus on volume is seen by the informants in the institutions as falling short in terms of capacity building and the enhancement of quality. Many interviewees voiced concerns that foreign partners’ approaches do not necessarily contribute to capacity building and may remain limited in scope, impacting on the quality of teaching and learning in ways that are not necessarily positive. Indeed, concerns were reported that the original overarching educational rationales of improving quality and capacity building may have been displaced by a more instrumental emphasis, for example on income generation. Some informants were firmly in favour of developing indigenized systems and reducing reliance on foreign partners. This point is taken up in a concluding discussion of the implications of the findings for Omani universities currently dependent on Transnational Higher Education, and the implications of this dependency for the Omani higher education system as a whole.

A pesquisa procura analisar as reformas políticas e económicas que caracterizaram as décadas de 80 e 90 em Moçambique e que contribuíram para o surgimento do comércio informal. A incapacidade do Estado para a promoção de emprego formal aos cidadãos e a própria dinâmica da economia de mercado levou as pessoas a lutarem para a sua sobrevivência. As mulheres tendo um nível de escolaridade baixo na sua maioria com nível secundário incompleto, não viram outra alternativa senão dedicar-se ao comércio informal transfronteiriço - mukhero, que tem características próprias como menos burocracia, horários flexíveis e a não exigência de nível académico para a realização do trabalho. A maior participação da mulher nesta atividade deve-se ao seu diferencial competitivo neste negócio. Elas são mais pacientes, possuem maior capacidade de negociação com os agentes governamentais e também consentem facilmente abusos e humilhações por parte dos agentes aduaneiros. O consentimento dos abusos e humilhações fazem parte da estratégia para contornar elevadas taxas aduaneiras e daí, garantir uma margem significativa do lucro. Todas as estratégias deste tipo de comércio só podem ser compreendidas á luz do ethos fronteiriço. Hoje o comércio informal transfronteiriço está a crescer ao nível da zona sul Moçambique visto que consegue garantir a sobrevivência das famílias e contribui para o empoderamento socioeconómico da mulher. O Estado moçambicano de forma tímida já se preocupa com este setor no sentido de melhor organizá-la para permitir maior captação de receitas tributárias. / The research analyzes the political and economic reforms that characterized the decades of 80 and 90 in Mozambique and contributed to the emergence of informal trade. The state's inability to promote formal employment to citizens and the dynamics of the market economy led people to fight for their survival. Women with a low education level mostly with incomplete secondary level, they saw no alternative but to devote the informal cross-border trade - mukhero, which has its own characteristics such as less paperwork, flexible hours and no academic requirement for carrying out the work. The increased participation of women in this activity is due to its competitive advantage in this business. They are more patient, have greater bargaining power with government officials and also easily consent abuses and humiliations by customs agents. The consent of abuse and humiliation are part of the strategy to circumvent high tariffs and hence, ensure a significant margin of profit. All strategies of this type of trade can only be understood in the light of the frontier ethos. Today cross-border informal trade is growing at zone level south as Mozambique can ensure the survival of families and contribute to the socio-economic empowerment of women. The Mozambican state timidly already concerned with this sector in order to better organize it to allow more funding from tax revenues.

Diplomová práce je zaměřena na problematiku přeshraniční spolupráce, která je v Evropské unii stále velmi aktuální. Popisná část práce osvětluje její souvislost s regionální politikou, ze které přeshraniční spolupráce vychází. Věnuje se také ostatním iniciativám Společenství v EU a detailně popisuje iniciativu INTERREG IIIA. České republice se v oblasti přeshraniční spolupráce otevřely nové obzory a možnosti právě se vstupem do EU. Cílem práce je demonstrace těchto nových možností na konkrétním způsobu podpory prostřednictvím programu Iniciativy Společenství INTERREG IIIA v Euroregionu Nisa. Euroregion Nisa se nachází v příhraniční oblasti na severu republiky, sousedí s Německem a Polskem, a proto úzce spolupracuje s přilehlými regiony právě těchto dvou zemí. Předmětem analýzy jsou projekty vycházející z programu Iniciativy Společenství INTERREG IIIA ČR ? Svobodný stát Sasko a ČR ? Polsko.

The diploma thesis concerns the use of funds of the European Union (European Social Fund, Cohesion Fund, European Regional Development Fund), especially in terms of the cross-border cooperation of the Slovak and the Czech Republic. The main goal is to investigate where these European funds are allocated, which areas are preferred to be supported in these countries by the financial assistance of the EU. To discover exact fields that need this kind of supply, it was essential to study basic strategic documents of both countries and urban patterns of the cross-border territory. The first chapter describes the structural and regional policy of the EU as a whole, gives examples of three main funds and their performance in the Czech and Slovak Republic. The second part deals with all the operational programs of both countries in connection with the three main objectives of the EU and previously remarked funds. It records the most serious economic problems and suggestions for solutions in both states as well. The third part is dedicated to dominant characteristics of the cross-border region, it describes The Program of Cross-Border Cooperation Slovak Republic-Czech Republic in the former period 2004 -- 2006 and particularly offers a detailed analysis of this program in current period. The last chapter gives instructions how to elaborate projects and it specifies all the steps needed to implementation of the projects. The end refers two examples of real projects put in practice in the cross-border region.

This dissertation addresses one of the reasons for the lack of confidence in public health in Southern Africa. It examines the impact of intrusive colonial public health measures and colonial attempts to suppress indigenous healing practices in the Manica region. The dissertation asks whether invasive colonial public health interventions had unintended consequences, such as the continued existence of traditional medicine and the reluctance to accept biomedical arguments on the epidemiology of infectious and communicable diseases. While these intrusive colonial public health measures were constant and pervasive, they were not always effective, partly due to the border that colonialism created. The epidemiology of the Manica region is fundamentally affected by cross-border movements, which not only spread infections, but altered disease ecologies, complicating disease control efforts. Colonial efforts to monitor movements led to the disruption of life and caused much hardship to villagers and townsfolk. Reflecting the dynamism of African societies, this dissertation argues that while Africans tended to dislike intrusive and discriminatory preventative public health policies, they were willing to experiment with new ideas, particularly treatment services. They were discouraged, however, by the failure of colonial governments to provide adequate treatment-based services for Africans, proving that the provision of health services for Africans was driven by European settler fears of infection and economic imperatives rather than the concern for Africans. However, most of these settler fears stemmed from misunderstandings of epidemiology, and were often grossly exaggerated and racist. Regardless of whether these theories were accurate or not, they still caused hardship. Although this project looks at the history of public health before the HIV/AIDS pandemic in Southern Africa, the legacy of colonial public health policies affects how people in Southern Africa comprehend this disease. Through the use of archival materials and oral histories, this dissertation concludes that the current reluctance to embrace biomedicine is connected to social memory and perceptions of the state, and its legitimacy. Had resentment of colonial public health not played a role, biomedicine would have been more readily integrated as an additional option into a repertoire of alternative therapies in Southern Africa.

<p>I en pågående globalisering, skapas fler och fler unioner eller liknande handelsavtal, där syftet är att främja den egna regionen och dess markand. Möjligheterna är enorma för företagen inom dessa regioner, då alla barriärer är borta och landsgränserna utsuddade. Detta skapar även hårdare konkurrens och aktörer från andra delar av världen vill komma in på dessa marknader och ta del av vinsterna. Det snabbaste och enklaste sättet att ta sig in på marknaderna är genom förvärv, då befintliga etablerade företag köps upp. Frågan är huruvida dessa regioners marknader reagerar, då ett företag som kommer utifrån regionen köper upp ett företag inom regionen eller om förvärvet sker inom regionen.</p><p>Syftet med denna uppsats är att undersöka om det finns någon mätbar skillnad i den abnormala avkastningen vid gränsöverskridande förvärv, som kan härledas till uppköparens ursprung. Fokus ligger på skillnaden mellan företag från den Europeiska Unionen och företag utanför gemenskapen. Vidare skall denna uppsats undersöka lönsamhetsutvecklingen efter genomfört uppköp.</p><p>Den metoden som har valts för att studera problemet är en eventstudie, som anses vara det mest lämpade vid undersökning av den abnormala avkastningen. En intervju har även genomförts, för att få mer djup i undersökningen och en lönsamhetsundersökning, för att utläsa effekterna hos budföretaget efter förvärvet. I lönsamhetsundersökningen har tre nyckeltal undersökts avkastning på eget kapital, P/E-talet och avkastning på totala tillgångar.</p><p>Resultatet utav studien visade på att avkastningen hos målföretagen som hade köpare från ett land utanför den Europeiska Unionen var störst. Detta betyder även att de förväntas generera högre lönsamhet enligt den effektiva markandshypotesen. En anledning till att gruppen med icke-EU företag genererade en större överavkastning kan vara att de ”delar med sig” av de förväntade framtida vinsterna i större utsträckning varpå deras budpremie var högre. Vid gränsöverskridande företagsförvärv konkurrerar fler potentiella köpare om företaget vilket driver upp budpremien. Att Sverige inte ingår i eurosamarbetet kan vara en anledning till att färre företag inom unionen konkurrerar om att köpa svenska företag varpå premien och därmed överavkastningen i denna grupp är lägre.</p><p>Lönsamhetsundersökningen visade på att gruppen med företag från den Europeiska Unionen upplever en minskning av alla de tre nyckeltalen efter det genomförda förvärvet. Gruppen med företag från utanför unionen å andra sidan upplever en ökning av både avkastning på eget kapital och avkastning på totala tillgångar i perioderna efter förvärvet, vilket visar på att förvärvet varit mer lönsamt för dem. Resultatet från lönsamhetsundersökningen stödjer resultatet från evenstudien då gruppen med företag utanför unionen lyckats generera den största lönsamheten varpå den högre premien från dessa företag var berättigad.</p>

<p>Among the challenges that companies may face during the post M&A phase, cultural integration can be seen as one of the trickiest tasks. Cultural differences which are inevitable in any deal are always there. The link between how people from autonomous groups live together and the deal result is an interesting topic that needs to be investigated. Since we have an interest in developing the understanding of cultural differences during integration process in cross-border M&As, the research question “How do cultural differences arise in cross-border M&As during the integration process and do they impact the deal result?” is formulated.</p><p>This thesis presents a model that demonstrates elements of cultural differences from three levels, national, organizational and personal. In this model, these levels can be seen as interrelated to each other in which the inner layer is impacted by the outer one. As a result, personal culture, as the most inner layer, is doubly impacted by the other two, national and organizational levels. Given that the scope of our thesis is for cross-border M&As, after investigating these three levels of culture, we found that organizational and personal differences are real in any M&As no matter domestic or cross-border deals. Differences at national level, on the contrary, are the first element that should be mentioned as a root of cultural differences in companies from different nationalities.</p><p>From the understanding about emergence of cultural differences, we further study to see if they leave any effect on the deal result. In the empirical section, from the cultural gap analysis of each case, it was surprising to see that the relationship between cultural gap and deal result of two of four cases, are opposite to Rankine´s theory. At this point, we can see that M&As between companies similar in culture is not always successful or that failure between organizations having significantly different cultures is not always true, and then the empirical study on the acculturation dynamics made the further explanation that cultural differences are not the critical factor leading to success or failure, but rather how participants in integration perceive and respond to the cultural differences will impact the deal result.</p>

Among the challenges that companies may face during the post M&amp;A phase, cultural integration can be seen as one of the trickiest tasks. Cultural differences which are inevitable in any deal are always there. The link between how people from autonomous groups live together and the deal result is an interesting topic that needs to be investigated. Since we have an interest in developing the understanding of cultural differences during integration process in cross-border M&amp;As, the research question “How do cultural differences arise in cross-border M&amp;As during the integration process and do they impact the deal result?” is formulated. This thesis presents a model that demonstrates elements of cultural differences from three levels, national, organizational and personal. In this model, these levels can be seen as interrelated to each other in which the inner layer is impacted by the outer one. As a result, personal culture, as the most inner layer, is doubly impacted by the other two, national and organizational levels. Given that the scope of our thesis is for cross-border M&amp;As, after investigating these three levels of culture, we found that organizational and personal differences are real in any M&amp;As no matter domestic or cross-border deals. Differences at national level, on the contrary, are the first element that should be mentioned as a root of cultural differences in companies from different nationalities. From the understanding about emergence of cultural differences, we further study to see if they leave any effect on the deal result. In the empirical section, from the cultural gap analysis of each case, it was surprising to see that the relationship between cultural gap and deal result of two of four cases, are opposite to Rankine´s theory. At this point, we can see that M&amp;As between companies similar in culture is not always successful or that failure between organizations having significantly different cultures is not always true, and then the empirical study on the acculturation dynamics made the further explanation that cultural differences are not the critical factor leading to success or failure, but rather how participants in integration perceive and respond to the cultural differences will impact the deal result.

This study starts out with the hypothesis that the integration process in Europe is connected to cross-border régionalisation, a process which supports the institutionalization of subnational cross-border cooperation - region-building. Cross-border régionalisation is characterized by the decentralisation of vertical links and enhanced opportunities for horizontal links across state borders. In addition, political integration is expected to have some impact on the cross-border institutional forms that emerge at the subnational level. Three different approaches are utilized in order to establish the empirical connection between political integration and region-building. These are: an analysis of the factors which determine the general pattern of cross-border cooperation in Europe, an analysis of the policy network related to the regional and structural policies of the European Union (EU), and case studies of cooperation in the heartland of Europe, the Regio Basiliensis along the external border of the EU, and the EUREGIO along one of the internal borders. Two institutional factors are found to have a significant impact on the number of subnational cross-border cooperations, EU-membership and centrality. Federal constitution was shown not to be significant. It is suggested that the interaction between actors at different politico- administrative levels creates network relations, which typically bring both private and public actors together. More precisely, region-building is described as the outcome of the interaction which takes place between actors. A closer examination of the emerging policy network shows that community initiatives, the Interreg-programme in particular, improve the prospects for multi­level interaction. The EU plays a crucial role in providing the incentives for cooperation by increasing resource dependency and by establishing direct ties between the European Commission and a large number of subnational actors through partnerships. It appears as if the Commission wishes to demonstrate its capacity to deal with problems relevant to individual citizens. By, in part, bypassing central governments, it seems to increase its own importance vis- à-vis member states. The modus vivendi of cross-border region-building and régionalisation is the degree to which institutional actors at different levels share the same objectives. As shown by the case studies, there is a common interest in cross-border cooperation up to the point were public statues are introduced. Interests seem to coincide as long as the structures and contents of cross-border cooperation do not ultimately challenge the authority of state institutions. Therefore, it is not surprising that it seems impossible to give cross-border regions any rights under international law. Functional cooperation, rather than regionalist manifestations of cultural or political unity across borders, constitutes the backbone of region-building. Activities transcending borders are less controversial than those that may contribute to the establishment of new borders. It is concluded that region-building is a process which is embedded in the institutionalization of a multi-level interaction pattern. More favourable multilevel relations have been achieved through the transfer of some authority to the supranational level. This is the main reason why traditional integration theory fails to explain why there is a connection between political integration and cross-border cooperation. / digitalisering@umu