How Do Pharmaceutical Companies Overcome a Corporate Productivity Crisis? Business Diversification into Medical Devices for Growth Potential

The purpose of this study was to analyze the performance of pharmaceutical companies’ business diversification into medical devices in terms of their technical efficiency (TE) as compared to that of traditional pharmaceutical companies. For a total of 174 externally audited pharmaceutical companies engaged in the drug product business between 2008 and 2019, pharmaceutical companies were classified into two groups according to medical device business diversification. The TE of pharmaceutical companies that diversify the medical device business was lower than that of traditional pharmaceutical companies. However, in terms of the meta-technology ratio (MTR) calculated using meta-frontier analysis, pharmaceutical companies diversified into medical devices showed higher MTR than the traditional pharmaceutical company group. The results imply that the corporate performance growth potential of traditional pharmaceutical companies is lower than that of pharmaceutical companies that have diversified into the medical device business.

The Development of A Universal Transformer Housing of the Unit Transformer Substation 6-10 / 0.4 KV

The company group of the PJSC “ROSSETI” pays great attention to reducing occupational hazard at the facilities of the power grid complex. The analysis of the accidents in the branch of PJSC “IGDC of the Center”– “Orelenergo” revealed that transformer housings installed at the mast-type transformer substations 6-10 / 0.4 kV can’t fully provide the required safety level as they can be slightly raised even without using a special tool, and therefore one can stick his hands or some objects to the current-carrying parts of the transformer substation. According to the statistics of the damages at the mast-type transformer substations 6-10 / 0.4 kV various small animals and birds can enter the electrical installation through small slits between the housing and the transformer, which will lead to different emergency situations. To prevent the aforementioned negative consequences, a universal transformer housing was developed for a mast-type unit transformer substation (UTS) 6-10 / 0.4 kV. The offered design of the housing is universal, since it can be used for the transformers of various capacities; for its manufacture tools and materials with different characteristics can be used. At the same time, the installation of the developed housing will allow power grid companies to reduce occupational hazard, reduce the undersupply of electricity and increase the reliability of power supply to the agricultural consumers. The technical solution presented in the article can be applied for the mast-type UTS 6-10 / 0.4 kV in the post-Soviet countries.

Classification of Japanese Electrical Equipment Manufacturing Industry Recovery Patterns after Disasters: Case Study of August 2019

In the paper, we analyze the recovery pattern of Japanese electrical equipment manufacturing companies after the President Trump remark in August 2019. The President’s remark made the companies’ stock prices decreased severely. The research consists of two parts. In the first part, we conducted Random Matrix Theory to extract representative decline/recovery patterns. Then we tagged A/B/C/D to the companies’ recovery types. The class A means a strong recover power. Then as the second part, we conducted machine learning tree-based classification using the tags A/B/C. The predictors are eight variables like ROA, ROE, and VAR. The resultant Decision Tree model provided us with the two different approaches to the class A group. The recovery and repulsion power will be higher in the company with high ROA and in the company that manufactured the product with high VAR. In addition, another class A company group is made and the feature is the high inventory turnover ratio.

Approach to placing reclousers in distribution networks

Today, the electricity supplier is not able to declare the possible level of reliability of electricity supply, and the consumer simply does not have the opportunity to buy such “reliable” electricity. In such conditions, a differentiated approach to tariff formation is inevitable, which has been implemented in practice today, albeit in its infancy. Further improvement of the tariff-forming mechanism is impossible without creating a "flexible" dependence of the tariff on the indicators of the consumer's power supply reliability. Reliability indicators, in turn, are based, on the one hand, on the methods and approaches for their determination, and on the other, on statistically reliable data on the reliability of the elements that make up the equipment in the "generation-consumer" chain. Localization by automatic sectioning points at the design stage in the context of RAB tariff setting (incentive tariff setting) ensures the target nature of reducing SAIDI (index of average duration of outages in the system) and, as a result, assessing the possibility of achieving the target ENS (estimated volume of non-supplied electrical energy) significantly reduces the cost of network design and reconfiguration. In this regard, it is necessary to revise the state and topology of problem networks, including the operated partitioning hardware; to define support services in the energy company; be trained in software (for example, TELARM) as a design tool; to create the standards of the company (group of companies), taking into account the experience of colleagues from Moldova, the Security Council, the Baltic States, far abroad. As part of a scientific search, an approach was proposed, which is the basis for calculations to determine the optimal installation locations for automatic sectioning points for an average air line, as well as a parallel-serial air line with "targeted" automatic reserve input, corresponding to the optimal SAIDI value. The results obtained are presented in the framework of a joint technical meeting of leading specialists of operating enterprises, the customer and the staff of the Department of Power Supply named after A. V.M. Sinkova NULES of Ukraine.

Intra-Group Lethal Gang Aggression in Domestic Pigs (Sus scrofa domesticus)

Intraspecific coalitional aggression is rare among all species, especially within stable social groups. We report here numerous cases of intraspecific lethal gang aggression within stable groups of domestic pigs. The objective was to describe this extreme aggression and to identify potential causes. Management data were collected from farms with (n = 23) and without (n = 19) gang aggression. From one farm, 91 victims were assessed for skin injuries and body condition score. Lethal gang aggression was significantly associated with deep straw bedding, which may be related to various other factors. Gang aggression tended to occur more in winter, and was unrelated to genetic line, breeding company, group size or feed type. It occurred equally in female-only and mixed sex groups (male-only groups were not represented), from around eight weeks of age. Injuries typically covered the whole body and were more severe on the front of the body. Victims who survived had a lower body condition score and fewer injuries than victims found dead. There are still many unknowns as to why this abnormal social behaviour occurs and it deserves further research attention, both for its applied relevance to animal welfare as for the evolutionary background of lethal gang aggression.

Tanggung Jawab Atas Kebijakan Yang Diterapkan Oleh Perusahaan Induk Kepada Perusahaan Anak Yang Berakibat Pada Timbulnya Suatu Kerugian

Liability to the parent company for policies implemented by subsidiaries that result in losses with third parties is a major problem in the practice of group. This problem This problem is due to absence of legislation that specifically regulate of the company group, the regulatory framework of the realationship the parent and it’s subsidiaries in the group companies is use Corporate Law. The incorporation of the company’s subsidiary in the group does not abolish the legal status of a subsidiary. Parent companies in the group company contractions have immunity over the implementation of the principle of limited liability. the purpose of writing this journal is to know, how is the assignment legal liability to the parent company for the policies applied to the subsidiary companies resulting in a loss to a third party and how to anticipate control without legal liability the parent company for its policies that impact the economic insecurity of the subsidiary in the construction of group companies. The research that the author uses is normative legal research. From this research, assigning legal liability to the parent company through the implementation of policies implemented by the subsidiary is certainly seen from the fault that cause losses. One effort that can be done to anticipate control without legal liabilty of the parent companies it’s Make Charter Corporate Relations and Between Subsidiaries or make agreement control between the parent company and subsidiary.

Vélemények a home office-ról – előnyök, hátrányok

A home office, amely a távmunka otthonról végzett verziója, és egyre elterjedtebb nem csak a multinacionális, de a kisebb cégeknél is, mint foglalkoztatási forma. Alkalmazását az informatika fejlődése teszi lehetővé, népszerűségét az egyén oldaláról az otthoni munkavégzés kényelmi elemei, a munkába járás idejének megtakarítása indokolja. A munkáltatóknak költségmegtakarítást tesz lehetővé, és meghatározott tevékenységi körökben előnyös lehet a munkaerőhiány kezelésében, a tehetségekért folytatott konkurenciaharcban. Elvileg egyik eszköze lehet a foglalkoztatottság további növelésének is Ugyanakkor pozitívumok mellett negatív tulajdonságokkal, hatásokkal is jellemezhető mind a munkavállalók, mind a munkáltatók oldaláról. A preferenciák, illetve a home office alkalmazás körülményeinek feltárására cikk szerzője kérdőíves kutatást végzett az ország vezető távközlési vállalatcsoportjának munkatársai körében. A felmérés alapján kialakult kép akár már a közeljövő hazai tendenciáit is tükrözheti. Opinions about home office – advantages and disadvantagesHome office is a version of remote work done at home, and it is a form of employment more and more widely used not only by multinational companies but smaller ones, as well. Its application is enabled by the development of informatics, and its popularity is rooted in the comfort elements of doing work at home and sparing the time of travelling to and from work. It allows the employers to save costs and in certain activity fields, it can be useful in managing labour shortage and in the competition for talented people. In principle, it can be a tool of increasing employment, as well. At the same time, besides the positive factors, it has negative features and impacts, too, on both the employees’ and the employers’ side. In order to explore the preferences and the circumstances of applying home office, the author implemented a query-based survey involving the employees of Hungary’s leading telecommunications company group. The picture gained from the survey might even reflect the domestic trends of the near future.

Consolidation of Specific Items of Financial Statements of Company Group: Principles, Conditions and Features

The impact of the adequacy of the application of the basic principles, conditions and order of consolidation by a company group, to ensure the reliability of the most specific items of financial statements, is considered as a subject matter of internal and external auditors. The components of the consolidated financial statements, its structural elements, specific items and a set of necessary disclosures in the notes are distinguished on the basis of comparative analysis. The conditions for the parent company’s control as an investor over the activities of its subsidiaries as an investee for the purpose of applying the consolidation procedure are systematized. The prerequisites for ensuring the reliability of the consolidated reporting information are generalized. The characteristics of these prerequisites are given in view of the parent company’s ownership of a certain share of the net assets of the subsidiaries at the reporting date and its investments in the subsidiaries during the reporting year with their inclusion in the book value. The necessary emphasis is placed on the proper disclosure of information about all subsidiaries in accordance with the principles of financial reporting. The subject area of internal and external audit is analyzed with focus on the most specific items of the consolidated financial statements: uncontrolled interest, goodwill and intra-group transactions. The factors for minimizing the risk of distortion at the level of individual articles and the consolidated financial statements of a company group as a whole are identified. The instruments of ensuring the proper degree of completeness and reliability of disclosure in the consolidated statements of a company group in accordance with the requirements of international financial reporting standards are considered. In particular, the specificity of the disclosure of the influence of related parties on the profit, loss and financial position of the group is discussed. The pragmatic value of disclosures is determined in view of providing users with consolidated financial statements that are transparent and relevant to economic decision making.

A nuclear owner/operator perspective on ways and means for joint programming on predisposal activities

Nuclear decommissioning is a worldwide competitive market. It is also the main source of radioactive waste from the nuclear energy field. In order to reduce the waste volume it is necessary to sort the actual radioactive waste to be disposed of and to separate them from other materials that could be recycled. Since 2015, Electricité de France (EDF) has gathered the waste management and dismantling (WM&D) projects, the related competences and human resources in the WM&D field, in a dedicated directorate (DP2D) and a company group called Cyclife (including waste treatment facilities). Taking into account the experience gained by carrying out its own WM&D projects as well as contributing to international cooperation, EDF considers that integrating collaborative research and development (R&D) on pre-disposal and waste management could be carried out following four main objectives: (1) alignment of the application of regulatory frameworks through appropriate definition of criteria and rules for radioactive waste to enable sensible worldwide comparison of technics; (2) improvement of technical and organisational aspects of nuclear reactors decommissioning using a demonstrator facility to be in operation, at first for graphite reactors, by 2022; (3) development of new techniques to decontaminate/homogenize metallic materials through a dedicated recycling route. These technics will be implemented in a new treatment facility foreseen to be available by 2030; and (4) increased training of decommissioning operators with the help of new technologies. All these improvements are aiming, beyond technical and experimental aspects, at reducing environmental impacts of nuclear activities as well as preserving the radioactive disposal volumes, as they are considered by EDF as rare resources.

Kinerja Perusahaan Berdasarkan Pertumbuhan Investasi dan Potensi Kebangkrutan Sub Sektor Perkebunan di Bursa Efek Indonesia Periode 2014 – 2017

This research aims to prove the stock sub group of the plantation sector has a positive value of the company (investment growth) if measured using model Tobin's q, and potential bankruptcy if measured using models Altman's Z-score first, Altman's Z-score and the Z-Altman's revision of the score as well as modifications to get the stocks that had the best performance based on the model. The sample in this study using census methods, namely the entire company group issuers shares sub plantation sector during the four-year period, starting from the observation of the year 2014-2017 recorded as many as 16 corporate issuers in Indonesia stock exchange, This form of research is research eksplanatoris. The results showed that the company's performance based on investment growth with model Tobin's q on sub plantation sector was by 20% by the year 2014, by the year 2015 amounting to 13.33% and in the year 2016 amounting to 13.33% and the year 2017 of 26.67%. Group company shares sub plantation sector which has the best performance based on the model of the Altman Z-score First for potential bankruptcy was able to note that in 2014, based on code by issuers SSMS, LSIP and AALI. In the year 2015, 2016 and 2017 which had the most improved performance is SSMS and LSIP. Group company shares sub plantation sector which has the best performance based on the model of the Altman Z-score for potential Revision of bankruptcy, it can be noted that in the year 2014, with code ANJT, LSIP issuers and SSMS. In the year 2015, 2016 and 2017 which had the most improved performance is LSIP. Group company shares sub plantation sector which has the best performance based on the model of the Altman Z-score for potential bankruptcy Modification is the year 2014, with code issuers LSIP, SSMS, ANJT, AALI, SGRO and GOLL. In the year 2015, the stocks that have the most excellent performance namely LSIP, ANJT, AALI and SSMS. In the year 2016, the stocks that have the most excellent performance namely LSIP, AALI, ANJT, PALM, SSMS, SMAR and SIMP and the year 2017 which had the most improved performance is LSIP, AALI, ANJT, SSMS and SMAR.