Although recognized as an important stage of the merger and acquisition (M&A) process, little is understood about the processes that unfold during deal negotiations. In line with recent qualitative research highlighting the role of interorganizational trust, I examine the role of acquirer trust during M&A negotiations. Specifically, through two essays, I consider the effects of acquirer trust on two outcome variables: the acquisition premium and target executive retention. In Essay One, I integrate the social embeddedness theory and agency theory and find that acquirer trust leads to higher premiums. In Essay Two, I integrate the social embeddedness perspective with justice theory and find that the positive relationship between acquirer trust and target executive retention is mediated by justice. Boundary conditions are also considered in each essay. These two essay provide contributions to the nascent literature on M&A negotiations and the complex role of trust in M&A negotiations. / Includes bibliography. / Dissertation (Ph.D.)--Florida Atlantic University, 2015. / FAU Electronic Theses and Dissertations Collection

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In a plural democratic society, the macro phenomena and policies are formed by individual cognition and choices. Thus the field of decision-making and judgment analysis based on individual cognitions has become the major analytical method in the public affairs management. The citizenship view of the republicanism requires citizens to reach consensus. The group decision-making method is so helpful for reaching consensus and overcoming the limits of individual cognition that it¡¦s necessary in forming public policies. By reviewing various group decision-making methods, the study found that there are at least Program Planning Method (PPM; Delbecq & Van de Ven, 1971), Policy Delphi (Turoff, 1970), Interactive Management(IM; Warfield & Cárdenas, 1994), and Social Judgment Theory(SJT; Hammond, 1965, 1996; Hammond et al., 1975, 1977, 1980) can be used to reach consensus in a plural society. Among them, the IM results have been proven effective for solving complicated problems and compliant with citizen participation spirit of a plural society ( Wang Min-shen & Chang Ning, 2002; Warfield & Cárdenas, 1994) . However, the accuracy of IM results can not be proven by the method and the weight between factors can not be identified, either. SJT can be used to analyze the assumption between decision criteria of different hierarchies and obtain the weights between different factors out of the same result so that SJT can examine the annotated graphics of IM. Besides, since SJT emphasizes cognitive feedback, it can facilitate reaching consensus by comparing various stakeholders¡¦ judgment principles dissolving the cognitive conflicts. Thus the study applied theoretical SJT to examine the validity of IM results. I discussed SJT procedure in a collective, hierarchic and large-scaled way. The study also adopted classic experimental design to compare the cognitive changes of participants before and after the SJT procedure to explore the performance of SJT results of group decision-making in public affairs cases in terms of consistency, individual learning effect and satisfaction. The results of this study show that SJT procedure can be operated in a large-scaled way while consensus with high satisfaction will be reached. In addition, the theoretical validity of IM results on psychological cognition provides the reason why participants accepted the results. Talking about the changes of the participants¡¦ cognition through SJT procedure, the participants using SJT have not improved their consistency, while the learning effect changes significantly towards group conclusion. In the subjective evaluations such as satisfaction, learning effect and caring degree, the participants who use SJT are better than those who don¡¦t, but not better than those who use IM procedure. In terms of policy significance, though the covert consistency between the participants who use SJT has not been improved, their overt satisfaction towards the group conclusion is better than those who don¡¦t. It shows that the conflict between participants has not disappeared yet, while they accept the consensus. Therefore, the way to wipe away the conflicts in a plural society is not to build up a single exclusive value, but to design a procedure allowing the stakeholders accept consensus.

Originally presented as the author's Ph. D. thesis, University Fridericiana, Karlsruhe, Germany. / Includes bibliographical references (p. [199]-205).

Project Thesis (D. Min.)--Denver Conservative Baptist Seminary, 1999. / Includes bibliographical references (leaves 273-284).

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Beslut angående finansiella investeringar sker för den enskilde individen likaväl som i företag. Besluten följer den finansiella världens utveckling och blir därmed alltmer komplexa. Placeringar av monetära tillgångar med förväntan att generera inkomst eller värdestegring innebär en risk. Risknivån på investeringen beror på investeringsbeteendet hos beslutsfattaren som kan ge konsekvenser på den finansiella marknaden och kan så småningom leda till finanskriser om ett överdrivet behov av risk uppstår hos beslutsfattare. Genom att studera vad som påverkar risktolerans öppnas dörrar för att kunna förstå vad som ligger bakom vilken risk som väljs vid en finansiell investering. När förändring i risktolerans studeras tas hänsyn till vilka sorters beslutsfattare som finns på den finansiella marknaden. I uppsatsen studeras risktolerans hos beslutsfattare i form av enskilda individer och grupper med syftet att testa hur risktoleransen förändras om en individ tar ett beslut enskilt eller i samråd med andra. I syftet ingår också att studera om kompositionen av en grupp med hjälp av variation i gruppstorlek och könsfördelning kan påverka gruppens risktolerans. Tidigare forskning indikerar att grupper har högre risktolerans än individer dock finns studier med omvänd syn. Studien i uppsatsen har skett genom kvantitativa experiment där respondenter enskilt och i sammansatta grupper svarat på olika frågeformulär. Av studien finnes resultat att män är mer risktoleranta än kvinnor. Emellertid visades inget signifikant resultat att en högre andel män i en grupp ökar risktoleransen i gruppen. Vid en storleksjämförelse visades ingen signifikant påverkan i risktoleransen av gruppens storlek. Sammanfattningsvis påvisades i ett av studiens test att grupper har högre risktolerans än individer medan två andra inte resulterade i en signifikant skillnad mellan dem. Uppsatsens primära begränsningar är mängden grupper som deltog i experimentet som vid ett högre antal hade kunnat ge mer precisa resultat samt att utbildningsnivån bland respondenterna var konstant vilket enligt tidigare forskning kan ge en försvagning av könseffekten vid mätning av risktolerans. Tidigare forskning om risktolerans har mestadels skett om individer och forskning om grupper är begränsad. På grund av det ger vår studie ett bidrag i form av en återuppväckande syn på risktolerans med ett nytt perspektiv om gruppstorlek som förändringsfaktor samt förslag till vidare forskning inom risktolerans. / Individuals as well as corporations make financial decisions regarding investments. Financial decisions advances along with the development of the financial world and thereby continuously increase in their complexity. A monetary investment regarding expectations of generating income involves risk. The level of risk depends on the decision maker’s financial behavior which could cause impacts in the financial market and may eventually be a reason for financial crises to arise, in case the decision maker has an excessive need to take risk. Studying which factors that affect risk tolerance contributes to an understanding of why a certain risk level is chosen when making a financial investment. When studying risk tolerance it has to be taking into account who is the decision maker. This dissertation studies risk tolerance of individuals and groups as two different decision makers, with the purpose of testing how the risk tolerance shifts if the decision is made either alone or in consultation with others. The purpose also includes studies on different compositions of a group regarding to gender and the size of the group and how this might affect the risk tolerance within the group. Previous research indicates that groups have a higher risk tolerance in comparison to individuals, there are however studies with opposite findings. The quantitative study in this dissertation was done by two experiments where respondents were handed questionnaires to be answered first individually and then together after being divided into groups. The results showed that men have a higher risk tolerance than women. However, there was no significant result that a higher proportion of males in a group increase the risk tolerance. When comparing small and large groups no difference was found in the level of risk tolerance. In conclusion, one of the tests in the study showed that groups have a higher risk tolerance than individuals however two tests showed a non-significant result in the difference between them. The limitations of the dissertation are the low participation in the group experiment where a higher number of groups would have been able to provide more accurate results and that respondents had a constant level of education which may have caused a lower effect of gender. Previous research has mostly focused on individuals and according to this our dissertation provides a contribution through how group size can influence risk tolerance and we propose further research areas within groups and risk tolerance.

The design of an aerospace vehicle system is a complex integration process driven by technological developments, stakeholder and mission needs, cost, and schedule. The vehicle then operates in an equally complex context, dependent on many aspects of the environment, the performance of stakeholders and the quality of the design itself. Satisfying the needs of all stakeholders is a complicated challenge for designers and engineers, and stakeholder requirements are, at times, neglected in design decisions. Thus, it is critical to examine how to better incorporate stakeholder requirements earlier and throughout the design process. The intent of this research is to (1) examine how stakeholder considerations are currently integrated into aerospace vehicle design practice and curricula, (2) design empirically-informed and theoretically-grounded educational interventions for an aerospace design capstone course, and (3) isolate the characteristics of the interventions and learning environment which support students’ integration of stakeholder considerations. The first research phase identified how stakeholder considerations are taken into account within an aerospace vehicle design firm and in current aerospace engineering design curricula. Interviews with aerospace designers revealed six conditions at the group, interaction and individual levels affecting the integration of stakeholder considerations. Examining current curricula, aerospace design education relies on quantitative measures. Thus, many students are not introduced to stakeholder considerations that are challenging to quantify. In addition, at the start of an aerospace engineering senior design capstone course, students were found to have some understanding of the customer and a few contextual considerations, but in general students did not see the impact of the broader context or of stakeholders outside of the customer. The second research phase comprised the design and evaluation of a Requirements Lab and Stakeholders in Design Labs, two in-class interventions implemented in a senior aircraft design capstone course. Further, a Stakeholders in Design rubric was developed to evaluate students’ design understanding and integration of stakeholder considerations and, as such, can be used as a summative assessment tool. The two interventions were evaluated using a multi-level framework to examine student capstone design projects, a written evaluation, and observations of students’ design team meetings. The findings demonstrated an increase in students’ awareness of a diverse group of stakeholders, but also perceptions that students appeared to only integrate stakeholder considerations in cases where interactions with stakeholders were possible and the design requirements had an explicit stakeholder focus. Particular aspects of the aircraft design learning environment such as the lack of explicit stakeholder requirements, the differences between the learning environment in the two semesters of the course, and the availability of tools impacted students’ integration of stakeholder considerations and overall effectiveness of the interventions. This research serves as a starting point for future research in pedagogical techniques and assessment methods for integrating stakeholder requirements into technology-focused design capstone courses. The results can also inform the vehicle design education of students and engineers from other disciplines.

The present thesis consists of three studies on the effects of group membership in large group decisions. The overall aim was to contribute to understanding how individuals react when decisions are made in large groups. We explored consequences of procedural justice concerns within such groups. In Study I we investigated how different decision procedures and issue importance affect perceptions of others who agree and disagree with the individual on a potentially important issue.  Individuals attributed more positive reasons for attitudes of those who agree as opposed to disagree with themselves, whereas disagreers were attributed more negative reasons. The asymmetry was moderated by decision form, and issue importance. The attitudes concerned attitudes towards potential new policies. In Study II we investigated differences in participants’ perceptions of others depending on own position towards the new policy. Challengers of the status quo advocating a change in the existing policy, were more biased when judging others than were defenders of the status quo. This suggests that challengers are less tolerant of defenders’ point of view. This effect was not affected by perceptions of minority status among the challengers. In Study III we looked at individual group members’ cognitive restructuring of a preferred decision alternative, and how it differs between decision conditions when the decision-maker is affiliated to own ingroup or not. Results showed that individuals restructure the attractiveness of their preferred alternative in group decisions similarly to what has been previously found in individual decision-making. The magnitude of restructuring was greatest when ingroup members decided for the group. However, this effect was moderated by identification with the ingroup, such that those who identified themselves with the ingroup restructured their preferred alternative more when ingroup members decided as opposed to when outgroup authorities decided. / <p>At the time of doctoral defense, the following paper was unpublished and had a status as follows: Paper 2: Submitted.</p>

Project Thesis (D. Min.)--Denver Conservative Baptist Seminary, 1999. / Includes bibliographical references (leaves 273-284).