After the promulgation of Financial Holding Company Law at the end of year 2001, the law has liberated the limitation of operations across banking, brokerage, and insurance. In order to cope with the future market competition, these institutions formed in total of 14 financial holding companies (FHCs) through self raising, merging, or acquisition. This research is aiming at the 14 FHCs and their subsidiary banks, security brokerages, and insurance companies, through applying financial ratio analysis to measure the synergy of FHCs¡¦ merging and acquisition. The sources of synergy are divided into three dimensions : operations, markets, and finance. A total of eight years of financial data is collected, including two parts: four years of pre-founding of FHCs from 1998 to 2001 and four years after founding the FHCs from 2002 to 2005. In-depth interview is conducted to look for the differences of operation performance and effect of increasing shareholder wealth after the FHCs merging and acquisition. The conclusions of this study are presented as following¡G 1.Market Synergy Dimension: The revenue increased after founding the FHCs shows that the market synergy exists and fits to expectation. FHCs could operate across fields including banking, brokerage, and insurance to provide cross selling chance for finance products. 2.Operational Synergy Dimension: The operating costs and operating costs ratio are increased after founding the FHCs. Because the FHCs do not reach the economy of scale, the unit operation cost is high and the organization of FHCs becomes large and needs more communication, which makes the decision making process inefficient, the management efficiency still needs to be improved. 3.Financial Synergy Dimension: The profit after tax and ROE are decreased after founding the FHCs, which are mainly contributed from inefficient use of financial resources and human resources as a whole group. 4.Synergy was hard to be seen within short term, which needed three to four years to make it possible. After merging or acquisition, FHCs need some time to reduce the conflicts between its subsidiaries and to conduct more efficient resource application to form FHCs synergy. 5.Market Evaluation: The market value of whole FHCs increases which increases the shareholder¡¦s wealth. This research provides the solution for increasing operation costs, including the following three points: 1.Converging the operation process. 2.Increasing economy of scale. 3.Enforcing the management efficiency.

The main purpose for this paper is to study how we should focus on and its management during business merger and acquisition so that we could achieve the goal what we wanted successfully. The study can have several structures as follows: 1. How to announce the message of M&A to outside is pretty important to avoid any rumor happened --- Philips PPCK in this sample did well by: (1) Corporate Centurion Meeting (2) Business Strategy Review Meeting (3) Senior Staff Meeting (4) Town Meeting (5) Philips Components¡¦ memo 2. Re-plan the business strategy to bring up the morale of employees (1) PPCK¡¦s vision --- ¡§Keep creative and innovative to sustain its value¡¨ (2) The evaluation for long-term strategies and priority setting of 1999 strategy. (3) Build up ¡§One Unit Concept between the company and the employees¡¨ (4) Listen to voice from employees and (5) The comments from Labor Union 3. Build up the communication channel in full support in different ways (1) Make the communication process transparently (2) Management Team offer appropriate directions at any time (3) Go towards to a common consensus ¡§Three win --- The employees, Shareholders and management team¡¨ together 4. Decision Making to be done as planned (1) Define the decision model and time schedule (2) The negotiation and breakthrough on the preferential retirement measure (3) The protection on working conditions (4) The crisis management on keeping key-persons 5. Thinking about the synergies how will it be after merger and acquisition (1) The competitive advantages of the company that to be merged (2) The competitive advantages of the desired goal company (3) The advantages on global after merger and acquisition Keywords: M&A (Merger and Acquisition); Synergy; Competitive Advantage; Passive Components; Settlement; Communication

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Nowadays, empirical researches on corporate post-performance of mergers and acquisitions (M&A) focusing on cost-down synergy and financial accounting phase have not been consistently identified. The lack knowledge of revenue-based marketing value and consumer insights of M&A indicates that other impacts may exist to influence corporate post-acquisition performance. Recent studies have pointed that acquiring company fails to take over all the customers of acquired company after the merge. The results probably provide an important issue about why most M&A activities failed. The study assesses that consumer perceptions of corporate association of acquiring/acquired company have diverse impacts on consumer attitudes and purchase intentions based on consumer-goods classification. Therefore, a 2x2 experimental design manipulated corporation associations and congruity was used for three types of products (i.e. laptops, casual shoes, and raw milk). In the study, one important finding is that diverse intensity of effects, in the relationship of consumer¡¦s attitude and consumer¡¦s repurchase intention after the merge, has showed up with empirical validation among three products. Based on the consumer-goods classification (i.e. specialty goods, shopping goods, and convenient goods), the results indicate that acquiring company fails to take over all the customers of acquired company after the merge, especially in convenient goods. In short, corporate selling different products in different industries should seriously consider about their objectives and focus, during and after the merge.

Our long-term goal is to better understand how the nervous system controls muscles to generate movement. Our overall hypothesis is that the nervous system coordinates muscles by flexibly recruiting muscle synergies, defined here as groups of muscles simultaneously activated in fixed ratios, in order to map high-level task goals into motor actions. Here we studied muscle coordination in the context of balance control - a task that requires multisensory integration and coordination of multiple muscles, yet has a clear goal of controlling the center of mass (CoM), which can be achieved by using different strategies. If muscle synergies are a common mechanism used by the nervous system for balance control, we would expect to see the same muscle synergies used in a variety of strategies. Therefore we investigated the robustness of the muscle synergies in a variety of human postural strategies, such as standing, stepping and walking, to determine whether muscle synergies are a consistent underlying mechanism used by the nervous system. We hypothesized that muscle synergies are recruited to control a task-level variable (e.g. CoM direction) that is not specific to a particular postural strategy. We demonstrated that similar muscle synergies are used in reactive responses to standing balance perturbations, in reactive stepping responses, in walking, and in reactive postural responses during walking, suggesting a common neural mechanism not only for balance control in various contexts, but for movement in general. The differences in the timing and spatial organization of muscle activity in standing, stepping, and walking postural responses were largely explained by altering the recruitment of a common set of muscle synergies, with the addition of only a single muscle synergy specific to each behavior. We demonstrated the functionality of muscle synergies by showing that each muscle synergy was correlated with a particular force produced at the ground and component of CoM acceleration both in stepping and in non-stepping postural responses. These results suggest that muscle synergies reflect the neural organization of the motor system, representing motor modules recruited to achieve a common biomechanical function across different postural behaviors. Additionally, muscle synergies used during walking were recruited during atypical phases of the gait cycle in response to an unexpected perturbation, in order to maintain balance and continue walking, suggesting a common neural mechanism for different balance requirements during walking. The compositions of muscle synergies used during walking were similar to those used during walking perturbations as well as standing balance perturbations, suggesting that muscle synergies represent common neural mechanisms for CoM movement control under different dynamic conditions. These results are of interest to a variety of fields such as rehabilitation science, prosthetics, and robotics.

The prevalence of Escherichia coli and Klebsiella pneumoniae producing extended-spectrum beta-lactamases (ESBLs) and carbapenemases is increasing worldwide. Therapeutic options for infections with these bacteria are limited not only by the production of ESBLs and carbapenemases, which confer resistance to cephalosporins and carbapenems, but also by frequent co-resistance to other antibiotics. The overall aim of this thesis was to obtain a better understanding of multidrug-resistant E. coli and K. pneumoniae in relation to epidemiology, selection and susceptibility to antibiotic therapy. In a prospective study ESBL-producing E. coli was found to spread easily through international travel. Twenty-four of 100 Swedes travelling outside Northern Europe acquired ESBL-producing E. coli in the intestinal flora. The risk was highest for travelers visiting India and those suffering from gastroenteritis during travel. To minimize selection of ESBL-producing K. pneumoniae during a hospital outbreak with these bacteria, an educational antibiotic intervention was performed at Uppsala University Hospital in 2006. The primary aim of the intervention was to reduce the consumption of parenteral cephalosporins. An immediate and radical reduction of cephalosporins was demonstrated with interrupted time series analysis. The outbreak declined during 2007 and no increased resistance to replacement antibiotics was detected. The impact of ESBL production on the antibacterial activity of ertapenem was studied in time-kill experiments. It was shown that porin-deficient subpopulations with reduced susceptibility to ertapenem frequently emerged in ESBL-producing E. coli during exposure to ertapenem at concentrations simulating human pharmacokinetics. Further, the antibacterial effects of antibiotic combinations against four strains of K. pneumoniae producing carbapenemases of the metallo-beta-lactamase type were studied in time-kill experiments. Double and triple combinations of aztreonam, fosfomycin, meropenem, rifampin and colistin at clinically relevant static concentrations were effective despite that the bacteria were frequently resistant to the individual drugs. These results indicate that there is a largely unexplored potential of antibiotic combination therapy for multidrug-resistant K. pneumoniae.

In order to create synergy of sourcing activities in related diversified firms, some coordination mechanisms must be in place. Coordination by organizational structure, management control, and process, systems and tools are examined in the Norwegian utility industry. Sourcing is found to be coordinated across business units by centrally decided sourcing strategies defining overall goals and policy for the sourcing area. Sourcing is also coordinated by sourcing professionals and category managers operating as devised liaisons, coordinating the sourcing processes, and performing supplier and market management horizontally across the business units. Sourcing needs are pooled when appropriate. Coordination by joint planning and sharing of cost information is done. All the identified forms of synergy are found to be created; economies of scale, economies of information and learning and economies of process.

RAUMENŲ, ŠIRDIES IR KRAUJAGYSLIŲ SISTEMŲ SINERGIJA FIZINIŲ KRŪVIŲ METU Vytautas Poškaitis Biomedicinos mokslai, Biologija (01 B) Anotacija Aiškinantis centrinių ir periferinių ŠKS mechanizmus ir jų sąveikas žinoma daug tyrimų, tačiau integruojančių viso organizmo sistemų esmines funkcijas visdar trūksta. Aišku, jog didėjant atliekamo krūvio intensyvumui, prasideda širdies funkcijos apribojimai. Parinkus fizinį pratimą skirtingu laipsniu aktyvuojantį didesnę ar mažesnę kūno raumenų dalį taip pat skirtinga seka ir laipsniu aktyvuojami centriniai ir periferiniai kraujotakos reguliavimo mechanizmai. Jų tarpusavio sąveikos klausimas sveikatos stiprinimo srityje yra ypač aktualus. Fizinių pratimų metu aktyvuojant kūno raumenų dalį skirtingu laipsniu Aišku, jog didėjant atliekamo krūvio intensyvumui, prasideda širdies funkcijos apribojimai ar parinkus fizinį pratimą Skirtingu laipsniu ir skirtinga seka aktyvuojami centriniai ir periferinių kraujotakos reguliavimo mechanizmai ir vis tik lieka ypač aktualus jų tarpusavio sąveikos klausimas. Atlikto darbo tikslas – nustatyti sąsajas tarp centrinių ir periferinių ŠKS funkcinių rodiklių kaitos, atliekant globalaus, regioninio pobūdžio, ir lokaliuosius fizinius krūvius. Tyrime dalyvavo 27 savanoriai, praktiškai sveiki, neturintys nusiskundimų vyrai. Darbe panaudoti tyrimo metodai: elektrokardiografija, arterinio kraujo spaudimo matavimas, neinvazinė artimoji infraraudonoji spektroskopija, veloergometrija, fizinio krūvio poveikiai ir... [toliau žr. visą tekstą] / SYRNERGY OF MUSCULAR AND CARIOVASCULAR SYSTEMS WHILE PERFORMING PHYSICAL LOADS Vytautas Poškaitis Biomedical Sciences, Biology (01 B) Summary There are many investigations dealing with interaction between central and peripheral cardiovascular mechanisms, nevertheless it is lack of methods and even data how to integrate main organism functions. It is clear, that during increasing of physical load occur limitations in heart function and it causes different sequence of activation of heart and peripheral systems. Here appear question how those systems interact, what kind of synergy they develop. It is very important in finding healthy individualized exercising way. The aim of the study was to establish the interaction in changes of central and peripheral indices of cardiovascular system while performing the global type, regional type or local physical workouts. Subjects of the study were 27 volunteers: healthy males who take a regular pat in health promotion groups two or three times per week at least two last years. Methods For the assessment of functional indices were used: Bicycle ergometry, Electrocardiography, measurement of ABP, near infrared spectroscopy, model of functional evaluation of body functioning during exercise. Results have show, that functional state of investigated person have essential influence to the individual changes of cardiovascular indexes during physical load and the synergetic interplay between central and peripheral cardiovascular... [to full text]

La présente étude est une analyse et une reconstruction interprétative de la centurie de Calliste Cataphygiotès, intitulée De l'union avec Dieu et de la vie contemplative, chapitres syllogistiques et hauts. Notre approche à ce texte pluridisciplinaire est prioritairement philosophique. Dans le but de mettre en valeur l'intérêt philosophique qu'il représente, nous avons concentré notre analyse sur les problèmes liés au rapport de l'intellect avec l'Un, sur l'étude du concept de l'infini, sur son rôle dans la contemplation et sur la méthode dialectique dont Calliste Cataphygiotès s'en sert. Nous avons reconstruit la doctrine de la contemplation, implicite au texte de Calliste et nous avons tenté une reconstruction globale de la centurie qui permettra au lecteur d'apprécier les qualités spéculatives et l'esprit synthétique de ce mystique byzantin presque inconnu. / The present study is an analysis and an interpretative reconstruction of Callistus Cataphygiotes's syllogistic chapters, entitled The union with God and the contemplative life. Our approach to this multidisciplinary text is primarily philosophical. In order to emphasize the philosophical aspect of the text we focused our analysis on issues related to the concept of infinity, its role in contemplation, the relation of the intellect with the One, as well as the dialectical method used by Callistus Cataphygiotes. We rebuilt the doctrine of contemplation, implied in the text of Callistus and we tried to do a complete reconstruction of the text that will allow the reader to appreciate the speculative and the synthetic spirit of this almost unknown Byzantine mystic.

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No. of bitstreams: 1 mota_acr_me_svic.pdf: 2255639 bytes, checksum: 7309d22b13dde72f7ce71c534d028c64 (MD5) Previous issue date: 2018-02-19 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES) / Acidificação oceânica, processo resultante das emissões de gás carbônico (CO2) na atmosfera pelas atividades de natureza antrópica, vem causando nas últimas décadas uma modificação no equilíbrio químico do sistema bicarbonato/carbonato e consequentemente uma diminuição do pH dos oceanos. Estimativas apontam que esta diminuição pode ser de 0,7 unidades até ano de 2300, o que pode afetar o crescimento, reprodução e até mesmo a sobrevivência das espécies. Nesse sentido, são necessários estudos que avaliem o impacto da acidificação oceânica ao nível fisiológico e molecular nas diferentes espécies marinhas. O siri Callinectes danae é um importante recurso ecológico e econômico da Região da Baixada Santista e habitante de diferentes faixas de salinidade. O presente estudo avaliou os efeitos da acidificação oceânica no siri C. danae sobre um conjunto de parâmetros fisiológicos (consumo de oxigênio, excreção de amônia, razão O:N, índice hepatossomático e capacidade osmo-e ionorregulatória da hemolinfa), e a expressão gênica da Na+/K+- ATPase, enzima importante no processo de osmorregulação e equilíbrio ácido base. Os animais foram mantidos em diferentes salinidades (20, 25, 30, 35 e 40) e nos pHs 8,0 (controle) e 7,3 (acidificado) por um período de três e trinta dias. Foi observado aumento no consumo de oxigênio nas salinidades 25 (3 dias), 20 e 40 (30 dias) provavelmente devido a uma maior necessidade energética para a manutenção de sistemas relacionado a regulação ácido-base. Também foi observada depressão metabólica na salinidade de 30 (30dias). A excreção de amônia sofreu redução nas salinidades 30 (3 dias), 25, 30 e 35 (30 dias) possivelmente devido a competição entre os transportadores Na+/H+ e Na+/NH+4. O índice hepatossomático teve aumento nas salinidades de 30 (3 dias) e 40 (30 dias) devido a uma possível necessidade acumulo de reservas em situações estressantes. O substrato energético e o padrão osmorregulatório permaneceram inalterados em todos os tratamentos. Já a concentração de Cl- e Na+ foram reduzidas nas salinidades de 25 e 35 (30dias), provavelmente devido a alguma alteração nos seus transportadores. Molecularmente, foi observada uma regulação da expressão da Na+/K+ ATPase, com diminuição nas salinidades de 35 e 40 (3 dias), e posterior aumento no período de 30 dias. O trabalho foi o primeiro a avaliar os parâmetros fisiológicos e moleculares de C.danae em diferentes salinidades. Os animais que permaneceram por mais tempo sobre a exposição de alta pCO2 são mais afetados negativamente do que os animais que foram expostos em 3 dias. As alterações observadas podem indicar que apesar de C. danae ser um animal eurialino e habitar diferentes ambientes, a acidificação oceânica pode alterar seus padrões fisiológicos e moleculares, tirando os organismos de sua homeostase, tendo consequências no crescimento, no desenvolvimento e na distribuição da espécie. / Oceanic acidification, a process resulting from the emission of carbon dioxide (CO2) in the atmosphere by activities of anthropic nature, has been causing in recent decades a change in the chemical balance of the bicarbonate / carbonate system and consequently a decrease in the pH of the oceans. Estimates indicate that this decrease can be 0.7 units per year of 2300, which can affect the growth, reproduction and even survival of the species. In this sense, studies are needed to evaluate the impact of oceanic acidification on physiological and molecular levels in different marine species. The Callinectes danae crab is an important ecological and economic resource of the Region of the Baixada Santista and inhabitant of different ranges of salinity. The present study evaluated the effects of ocean acidification on C. danae crab on a set of physiological parameters (oxygen consumption, ammonia excretion, O: N ratio, hepatosomatic index and osmo-and ionoregulatory capacity of hemolymph), and gene expression of Na + / K + - ATPase, an important enzyme in the process of osmoregulation and acid base balance. The animals were kept at different salinities (20, 25, 30, 35 and 40) and at pHs 8.0 (control) and 7.3 (acidified) for a period of three and thirty days. It was observed an increase in the oxygen consumption in salinities 25 (3 days), 20 and 40 (30 days) probably due to a greater energy requirement for the maintenance of systems related to acid-base regulation. Metabolic depression was also observed at the salinity of 30 (30 days). Ammonia excretion decreased in salinities 30 (3 days), 25, 30 and 35 (30 days) possibly due to competition between Na + / H + and Na + / NH + 4 transporters. The hepatosomatic index had an increase in salinities of 30 (3 days) and 40 (30 days) due to a possible accumulation of reserves in stressful situations. The energy substrate and the osmoregulatory pattern remained unchanged in all treatments. However, the Cl- and Na + concentrations were reduced at the salinity of 25 and 35 (30 days), probably due to some changes in their transporters. Molecularly, a regulation of Na + / K + ATPase expression was observed, with a decrease in salinities of 35 and 40 (3 days), and a subsequent increase in the period of 30 days. The work was the first to evaluate the physiological and molecular parameters of C.danae in different salinities. Animals that remained longer on exposure to high pCO2 are more negatively affected than animals that were exposed in 3 days. The observed changes may indicate that although C. danae is an eurialan animal and inhabits different environments, ocean acidification can alter its physiological and molecular patterns, taking organisms out of their homeostasis, having consequences on the growth, development and distribution of the species .