TRANSFORMATIONAL LEADERSHIP IN THE SERVICE OF ORGANIZATIONAL CHANGES

The complex and dynamic environment in which modern companies operate requires frequent organizational changes that are used as a mechanism for adapting the company's business to market requirements, in order to improve or maintain a competitive advantage. Mergers and acquisitions, as a complex form of organizational change of companies, represent a relevant problem area of ​​research. Since the success of organizational change depends on two important factors, leaders and employees, the aim of this research is to identify the interdependence of transformational leadership, job satisfaction and commitment to organizational change by employees in the post-acquisition period. The research results show that there is interdependence between transformational leadership, job satisfaction and commitment to organizational change in the post-acquisition period. The empirical research was conducted in 2021, using a survey method. Data were analyzed using Pearson’s correlation and single as well as multiple regression method. A sample of 129 respondents was taken into accounts, who are employed in companies in the Republic of Serbia that have gone through the acquisition process in the last five years.

The Underperformance of Acquiring Mutual Funds: A Re-Examination of a Puzzle

This paper studies the performance of Canadian acquiring mutual funds in the post-acquisition period by using 339 acquisitions during the period of 2008-2015. Contrary to the facts reported in studies in the U.S., we find that, for within-family mergers, the performance and the size of acquiring funds increase after the merger. Overall, our results suggest that the within-family merger of Canadian mutual funds is a win-win scenario for participating funds, as acquiring and target funds’ performance increases after the merger. Our results are consistent with a model where board of directors of merging funds are able to select value-enhancing acquisition opportunities, as they hold, due to the management structure of Canadian mutual funds, superior information about within-family target funds.

Transmission Effectivity of Rice Yellow Stunt Disease by Imidacloprid-Resistant and Susceptible Brown Plant Hopper

The brown plant hopper (BPH) is a major pest of rice and as a vector of Rice ragged stunt virus (RRSV) and Rice grassy stunt virus (RGSV). Curently, numerous rice yellow stunt disease symptoms are found in the field that caused by the single and simultaneous infection of these two viruses. Brown plant hopper population correlate with the incidence and severity of the disease. Misuse of insecticides, would cause of BPH resistances to imidacloprid. This study aimed to investigate the ability of BPH imidacloprid-resistant and susceptible to transmit of rice yellow stunt disease on rice plants. The variables tested were the acquisition period, inoculation period, number of infesting BPH, and lifespans of the viruliferous BPH that used in this research. Experiments were set as separated Completely Randomized Design with 10 replications for each treatment within an experiment. The results showed that both resistant and susceptible BPH to imidacloprid was able to transmit the virus to healthy plants. The acquisition and inoculation period test showed the BPH could transmit the virus with the shortest acquisition time for 30 minutes followed 24 hours of inoculation, as well as the acquisition time of 10 days with the shortest inoculation time for 30 minutes. Based on the incubation time, symptoms variation, and disease severity, susceptible BPH were more effective in transmitting rice yellow stunt disease than imidacloprid-resistant BPH. Single imidacloprid-resistant or susceptible BPH was proven able to transmit rice yellow stunt disease to healthy plants during its lifespan. Lifespans BPH viruliferous of imidacloprid-resistant were shorter than susceptible, which was 16 days for resistant BPH and 21 days for susceptible BPH.

Transformational leadership in the service of organizational changes

The complex and dynamic environment in which modern companies operate requires frequent organizational changes that are used as a mechanism for adapting the company's business to market requirements, in order to improve or maintain a competitive advantage. Mergers and acquisitions, as a complex form of organizational change of companies, represent a relevant problem area of research. Since the success of organizational change depends on two important factors, leaders and employees, the aim of this research is to identify the interdependence of transformational leadership, job satisfaction and commitment to organizational change by employees in the post-acquisition period. The research results show that there is interdependence between transformational leadership, job satisfaction and commitment to organizational change in the post-acquisition period. The empirical research was conducted in 2021, using a survey method. Data were analyzed using Pearson's correlation and single as well as multiple regression method. A sample of 129 respondents was taken into accounts, who are employed in companies in the Republic of Serbia that have gone through the acquisition process in the last five years.

Merger and Acquisition and Perfomance of Deposit Money Banks in Nigeria: Pre and Post Analysis

Low capital base, insolvency, poor corporate governance and incessant banks distress among other factors have contributed to the recent failure of banks in Nigeria. To curb such challenges, banks all over the world now adopt mergers and acquisitions as a strategy to improve their performances. Therefore, this study examined the impact of mergers and acquisition on the performance of deposit money banks in Nigeria. The study considered capital structure, asset profile, total deposit and profit after tax of the selected bank as the measurement for the performance and effect of merger and acquisition of the bank in both pre and post merger and acquisition period. Data were collected from the published financial statements of the bank namely former Intercontinental Bank Plc and Access Bank (now Access Bank Plc) from 2005 to 2017 and the model was formulated using ordinary least square method. It was revealed that for both the pre-merger and post-merger periods, it was revealed that the access bank performed better. In the post – merger and acquisition period as asset profile and total deposit has no significant effect on the profit after tax of access bank in Nigeria, while capital structure has a significant effect on profit after tax of access bank plc. While in the pre-merger and acquisition capital structure, asset profile and total deposit have no significant impact on profit after tax of access bank plc. The study concludes that mergers and acquisitions have a significant impact on the performance of deposit money bank in Nigeria. Therefore, the study recommended that banks can merge or acquire one and other. This has proved to be an effective strategy for rescuing ailing or weak banks. This would provide financial muscles and managerial competence that would enhance financial performance.

How does the language acquisition period affect simultaneous interpreters’ language processing?

This study aims to identify the similarities and differences in cognitive-psychological semantic (Translation Equivalent) mapping employed by early, and late balanced bilinguals at the adult level. The subjects of lexical-semantic recognition tasks were limited to fourth-semester learners at graduate school of interpreting and translation to analyze the effect that the L2 acquisition period (or Age of Acquisition, AOA) and immersive education may have on cross-language processing among highly-proficient bilinguals. The experimental words were composed of non-cognate abstract words with two levels, and in four language directions (L1 > L1, L1 > L2, L2 > L1, L2 > L2) to compare monolingual, and bilingual priming effects. Early, and Late Balanced Bilingual groups (i.e., EBB and LBB) were comparable in many ways. However, mid balanced bilinguals who had exposure of more than six years after the critical period showed distinctive features. With a low lexical difficulty in the L1 to L2 direction, Mid Balanced Bilingual group (MBB) showed a similar tendency with EBB, while it was analogous to LBB when the lexical difficulty was high, and the language direction was from L2 to L1. Such results can be interpreted as evidence against the critical period hypothesis, indicating that language dominance may change due to the L2 acquisition period and immersive education. In contrast to their subjective perception, the mother tongue of all subject groups turned out to be Korean since all subjects, without exception, were faster in deciding words from English to Korean. The parental factor was limited to be all Koreans in order to control biological differences, from which the parental factor is reversely inferred most influential for early balanced bilinguals’ language dominance.

Do frequent acquirers outperform in cross-border acquisitions? A study of Indian companies

Purpose The purpose of this paper is to examine the impact of cross-border acquisitions (CBAs) on the financial and operating performance of acquiring firms from emerging economies in the long-term; the acquiring firms have been segregated into frequent (multiple) and first-time (single) acquirers based on their prior cross-border experience. The intent is to identify if overseas activities bring over and above advantage to multiple acquirers in terms of enhanced financial synergies and reduced costs, motivating them to engage in sequential international transactions. Design/methodology/approach The paper analyses the impact of CBAs announced and completed during 2004–2013 by Indian companies listed on the NIFTY 500 index. The post-acquisition financial and operating performance of Indian cross-border acquirers has been compared with their pre-acquisition performance. The average performance over three-years immediately preceding the acquisition year constitutes the benchmark for the post-acquisition performance. The post-acquisition period includes a year of integration followed by three successive post-integration years. Therefore, in operational terms, the research period extends from 2001–2017. The long-term performance of frequent (multiple) and first-time (single) Indian acquirers has been investigated comprehensively using a set of 16 financial ratios. The performance has been assessed using the secondary data collected from financial statements of acquiring companies; the financial statements and the list of CBAs by Indian companies have been obtained from Thomson Reuter’s EIKON database. Findings The financial and operating performance of frequent as well as first-time acquirers have depicted a similarly deteriorating trend during the post-acquisition period. These findings indicate that the international expansion of Indian companies is not guided by synergy creation potential and may be pushed by the overconfidence or over-optimism and agency conflicts of managers. This, perhaps, indicates that firms are being imprudent in investing free cash flows available with them. Originality/value The study is the first of its kind. No study, to the best of the authors’ knowledge, has analysed the performance of acquiring firms by segregating them into frequent and first-time acquirers using accounting measures of performance. More so, an extensive analysis of the long-term financial and operating performance of acquiring companies is rare to come across in the extant literature.

Normative Forms and Integrated Structure of Japanese in Incubation Period

In this paper, I examine the change mechanism of Japanese sentence-final forms (SFF) maintained by two Korean returnee sisters for over 10 years after the cessation of L2 contact, and focus on the negative formal style of verb sentences and its deviation from the actual use of norms (analysis form) and non-norms (synthetic form). Findings are based on a comparison of two Korean sisters’ Japanese with that of thirteen Korean adults’ colonial Japanese maintained for over 60 years, which is also in the incubation phase. In the sisters’ Japanese sentence-final forms that were incubating as their L2, they rarely used the non-norms, while the norms were stably maintained, and the retention of the synthetic structure of their returnee Japanese correlated with the duration of the language acquisition period and with the elapsed time of contact cessation. That is, the sisters used more of the norms in the Korean colonial Japanese SFF than they did in their Japanese; I attribute this to the sisters’ 10-year incubation period. Specifically, the Korean returnee sisters’ speech included interventions of the explanatory [N] in the past affirmation of -ta desu, heavy use of non-norms in adjective and noun sentences, and connecting sentence-final particles to further grammatical structures. However, there were fixed and conventional Norms in the Korean returnee sisters’ Japanese, and once these are acquired, masu forms are retained for long periods in mirror image, especially on elder A. To summarize, in terms of the format of the returnee Japanese SFF, the two Korean returnee sisters were slower to shift from norms (masu) to non-norms (desu) than were adult Korean speakers of colonial Japanese. The same shift is observed with synthetic structure even after cessation of the language contact.

Language Choice of Balinese and Japanese Mixed Marriage Children

Japanese and Balinese mixed marriage children have become bilingual since the early years of the language acquisition period. They acquired the inheritance of the languages (Indonesian, Japanese, and Balinese) from their parents. This research was conducted to find the language choice of mixed marriage children of Balinese and Japanese in Bali. The language use domain is divided into two: family and social. In each domain, the topic, the background of the situation, and the people involved are determined. The data was gathered using questionnaires employed to 10 mixed married families. The method includes observation and interviews. The result of data analysis showed that in the family domain there are variations of the children's language preferences when communicating. The children choose Indonesian when communicating with the father, and Japanese with the mother. However, there are also other options for using mixed code between Indonesian, Japanese and also English. In the social domain, the language choice is more homogeneous, which is Indonesian. Meanwhile, it was found that there was resistance towards the use of Balinese by Japanese-Balinese Mixed Marriage Family (JBMF) and the factors that affected the children's language choice were also discovered.