bluuebunny/crossref_metadata_2025_split huggingface dataset:
M&A: The process of planning to achieve deal synergies
Authors: Sirower Mark L. , Gilbert Chris E. , Weirens Jeffery M. , VandeVanter Jacob A. 
Published: September 2023

Purpose
M&A success and synergies are regularly discussed in the practical literature, but synergies are typically treated as a static concept (how do you get them?) with little discussion of financial bet acquirers create in paying an up-front premium. We describe the importance of investor reactions, the nature of the challenge, and discuss synergies as a process with five rules of the road covering M&A strategy, diligence, culture, leakage, and validation and reporting. Potential acquirers must be better prepared before they commit these major capital investments, involving multiple stakeholders throughout the process of creating the value they are promising with M&A.

Design/methodology/approach
We report the important results of our 24-year study on acquirer performance, the persistence of investor reactions, and the role of the acquisition premium to support our position that synergies must be trackable and defendable before and after deal announcement. From our collective author experience of advising on many hundreds of synergy programs over the years, we distilled our experience based on the common lack of understanding of what is required by executives, and when, and what we have seen greatly improve the odds of success in achieving sufficient M&A synergies.

Findings
Major findings include: 1. Initial market reactions are good predictors of the future, most deals persist, positive or negative, and there is a big spread of returns between winners and losers with losers paying the highest premiums; 2. Premiums additions to target’s growth value and may require larger performance increases than acquirers expect; 3. Synergies are a dynamic process involving multiple stakeholders from becoming a prepared acquirer in M&A strategy, building an early synergy roadmap during diligence, understanding that culture and change issues launch at announcement and preparation must begin long before, anticipating leakage, and validating and reporting post-close.

Originality/value
Our study is original covering three waves of mergers over 24 years; we formalize the synergy challenge created by paying a premium with respect to the already existing growth expectations for the target; we make clear that ultimately validating synergies begins with M&A strategy and diligence through to the workings of an Integration Management Office, anticipating synergy leakage, and preparing employees for change.
Breeding under pressure: Corticosterone is associated with reproductive investment under fluctuating predation risk in a long‐lived sea duck
Authors: Mohring Bertille , Öst Markus , Jaatinen Kim , Parenteau Charline , Grimaud Emmanuelle , Angelier Frédéric 
Published: September 2023

Abstract

Phenotypic plasticity may enable individuals to cope with predictable and unpredictable environments during their life‐cycle. In that context, studying glucocorticoids—corticosterone (CORT) in birds—is relevant because of their primary role in allostasis. Higher baseline CORT levels are classically associated with environmental constraints and lower fitness (the CORT‐fitness hypothesis). However, in some environments, higher baseline CORT levels can promote reproduction, therefore being associated with higher fitness (the CORT‐adaptation hypothesis). These two hypotheses have been tested in multiple systems but rarely in a context of fluctuating predation threat.

We used a long‐term individual‐based monitoring of baseline CORT levels in female common eiders Somateria mollissima (nCORT = 1537; nindividual = 790; 2009–2022) to disentangle the context‐dependent links between environmental conditions, CORT and fitness. Importantly, the study population has been facing a drastic increase in predation pressure over the past decades, linked to the recovery of the white‐tailed eagle Haliaeetus albicilla. Additionally, eiders breed on open or forested islands, further affecting adult and nest predation risk. This system allowed us to disentangle the relative contributions of within‐ and among‐individual variation in baseline CORT levels under predation.

Supporting the CORT‐adaptation hypothesis, baseline CORT levels were positively associated with reproductive investment (clutch size), age and hatching success. By partitioning within‐ and among‐individual effects, we showed that at the individual level, CORT flexibly increased with clutch size and age. Females displaying higher CORT levels were more successful, suggesting a link between CORT and individual quality.

At both the population and individual levels, baseline CORT levels decreased over the study period. This decrease was correlated with an increase in predation risk. Females had reduced baseline CORT when nesting under high eagle abundance or adult predation risk (within‐individual effect). Interestingly, apparent plasticity towards adult predation risk was only observed on open islands, likely reflecting habitat‐dependent strategies.

Consistent with the CORT‐adaptation hypothesis, we show that changes in predation regime not only correlate with changes in reproductive investment, but also with rapid plastic adjustment of glucocorticoid levels and therefore individual strategies to cope with predation risk. Given the correlative nature of our study, we encourage further experimental studies testing for a causal relationship between predation and corticosterone levels.

Read the free Plain Language Summary for this article on the Journal blog.
Reciprocal nutritional provisioning between leafcutter ants and their fungal cultivar mediates performance of symbiotic farming systems
Authors: Bolander Mille , Andersen Julie Elmegaard , Conlon Benjamin H. , Arnan Xavier , Michelsen Anders , Shik Jonathan Zvi 
Published: September 2023

Abstract

Optimized food acquisition is challenging because foraged diet items are chemically complex and often nutritionally imbalanced. These challenges are likely magnified when foraged foods are used to provision others (e.g. offspring, nestmates, symbionts) with different nutritional requirements.

We used a theoretical framework of nutritional niches to study these provisioning challenges in leafcutter ants that cultivate a fungal symbiont with nutrients derived from freshly foraged plant fragments. While the leaf‐cutting behaviours of free‐ranging foragers are well studied, little is known about how colonies use these plant fragments to produce their fungal crop within underground nest chambers.

For instance, gardener ants are known to convert vegetation into a nutritional mulch that they plant on the fungus garden. However, it remains poorly understood how the ants use this mulch to target the specific nutritional needs of their fungal crop, and whether the cultivar signals if provisioned mulch meets its nutritional needs. Towards answers, we performed three experiments to assess the precision and specificity of nutritional regulation in farming systems of the Panamanian leafcutter ant Acromyrmex echinatior.

A laboratory feeding experiment with nutritionally defined diets showed that ant farmers collect a specific intake target for protein and carbohydrates and then linked strict protein regulation by foragers to the cultivar's fundamental niche for protein.

An in vitro experiment with the fungal cultivar in isolation did not detect a signal of protein stress that could be used by the ants to regulate their provisioning behaviour, but it did identify an elevated fatty acid that may reinforce optimal nutritional provisioning if detected by gardening ants.

A feeding experiment with isotopically labelled diets then revealed nutrient‐specific and caste‐specific allocation timelines, with nitrogen being assimilated into the cultivar's nutritional rewards before being exclusively consumed by developing brood. In turn, these combined results help resolve the integrated behaviours that give rise to resilient leafcutter farming productivity.

We further show how nutritional niches can help disentangle reciprocal provisioning dynamics between symbionts as well as the nutritional transactions that more generally mediate symbiotic stability (e.g. sanctioning, screening, policing).

Read the free Plain Language Summary for this article on the Journal blog.
Severity of haemolytic disease of the fetus and newborn in patients with a history of intrauterine transfusions in a previous pregnancy: A nationwide retrospective cohort study
Authors: van’t Oever Renske M. , Zwiers Carolien , de Haas Masja , le Cessie Saskia , Lopriore Enrico , Oepkes Dick , Verweij E. J. T. (Joanne) 
Published: September 2023

AbstractObjectivePregnant women who received at least one intrauterine transfusion (IUT) for haemolytic disease of the fetus and newborn (HDFN) in the preceding pregnancy are presumed to have a high likelihood of requiring IUTs again, often starting at an earlier gestational age. Our aim was to quantify these risks in a large national cohort.DesignRetrospective cohort study of a nationwide Dutch database.SettingThe Netherlands.PopulationAll women treated in The Netherlands with IUTs for Rhesus D (RhD)‐ or Kell‐mediated HDFN between 1999 and 2017 and their follow‐up pregnancies were included. Pregnancies with an antigen‐negative fetus were excluded.MethodsElectronic patient files were searched for the number and gestational age of each IUT, and analysed using descriptive statistics and linear regression.Main outcome measuresPercentage of women requiring one or more IUTs again in the subsequent pregnancy, and gestational age at first IUT in both pregnancies.ResultsOf the 321 women in our study population, 21% (69) had a subsequent ongoing pregnancy at risk. IUTs were administered in 86% (59/69) of cases. In subsequent pregnancies, the median gestational age at first IUT was 3 weeks earlier (interquartile range −6.8 to 0.4) than in the preceding pregnancy.ConclusionsOur study shows that pregnant women with a history of IUTs in the previous pregnancy are highly likely to require IUTs again, and on average 3 weeks earlier. Clinicians need to be aware of these risks and ensure timely referral, and close surveillance from early pregnancy onwards. Additionally, for women with a history of IUT and their caregivers, this information is essential to enable adequate preconception counselling.
Does scientific research change minds? Linking criminology and public perceptions of policing
Authors: Boehme Hunter M. , Adams Ian T. , Metcalfe Christi , Leasure Peter , Nolan Melissa S. 
Published: September 2023

AbstractResearch summaryThis study investigates the impact of scientific research findings on public views of policing topics. Specifically, we conducted an original survey experiment to determine whether research information treatments influence respondents’ views on the effectiveness of the police in reducing crime, defunding and refunding police budgets, and use of body‐worn cameras. Our results indicated that presenting confirmatory research information had a significant positive impact on perceptions of police effectiveness in reducing crime and use of body‐worn cameras compared to comparison groups. Conversely, presenting “negative” research information had a significant negative effect on these perceptions. Interestingly, neither positive nor negative research information treatments related to defunding versus refunding the police had a statistically significant impact on respondents compared to comparison groups, suggesting that research findings have limited effects on more ideologically complex policing topics.Policy implicationsScientific research can effectively shape public perceptions of police effectiveness in reducing crime and the use of body‐worn cameras, but it has limited effects on politically charged issues, such as defunding and refunding the police. To enhance the impact of evidence‐based policing, we suggest that police administrators collaborate with researchers to evaluate new policies and disseminate these findings widely to the public. Additionally, researchers should strive to make their research more accessible to the general public, beyond academic journals, scientific conferences, and paywalls. We recommend using open‐access platforms, social media, and other media outlets to disseminate unbiased, evidence‐based research on policing that is digestible to the public.
Cyprus: Political Developments and Data in 2022
Authors: FAUSTMANN HUBERT , SÖZEN AHMET 
Published: September 2023

AbstractIn 2022, attempts to overcome the division of the island remained dormant. Domestically, in the Greek Cypriot‐dominated Republic of Cyprus, the year was marked by the electoral campaign for the presidential elections scheduled for February 2023. In the northern part of the island, the de‐facto state Turkish Republic of Northern Cyprus experienced multiple government formations and breakdowns in the wake of increasing interventions in domestic affairs by the Turkish government.
The chronology of Julianos Church, Umm el‐Jimal, Jordan: AMS radiocarbon dates of its synthronon
Authors: Al‐Bashaireh Khaled , Lindauer Susanne 
Published: September 2023

AbstractAn ongoing long debate on the chronology of Julianos Church, Umm el‐Jimal, northeast Jordan, started in the early 20th century. It was claimed to be the earliest dated church (ad 344) by an inscription not found in situ. After five decades, it was proven that the inscription was mistakenly associated to the church, and ‘after the start of the fifth century ad’ was suggested as a new date. It is still argued that this new date is an early one, and the church might have been built in the late fifth to early sixth century ad when compared to the dated churches of sites surrounding Umm el‐Jimal. This research aims to reconstruct the chronology of Julianos Church by AMS radiocarbon dating organic inclusions collected from mortar samples from the pavement, the coats of the tiers of the bench and the steps of the throne of the synthronon. The AMS radiocarbon dates agree with the archaeological data in that Julianos Church was renovated after its good‐quality initial construction. Hence, the last decades of the sixth century ad (565–607) are interpreted to be the most probable date for the renovation of the synthronon, while the fifth century ad, probably the second half (465–507 ad), might be the construction date of the old mosaic floor (i.e., the church).
Effects of Nd: YAG laser on tumour necrosis factor‐alpha, interleukin‐1beta and interferon‐gamma levels in teeth with apical periodontitis: A clinical study
Authors: Baris Sevda Durust , Turkyilmaz Ali , Derici Mehmet Kursat 
Published: September 2023

AbstractThis study aimed to evaluate the levels of tumour necrosis factor‐alpha (TNF‐α), interleukin‐1beta (IL‐1β) and interferon‐gamma (IFN‐γ) with asymptomatic apical periodontitis (AP). A total of 60 participants were randomly divided into two groups: the conventional irrigation (control) and the Nd: YAG laser irradiation. The interstitial fluids were obtained after root canal cleaning (day 0) and 1 week later (day 7). The TNF‐α, IL‐1β and IFN‐γ levels were assayed using the enzyme‐linked immunosorbent assay. The Mann–Whitney U, continuity correction chi‐square, Pearson chi‐square and Fisher exact tests were used. An increased level of cytokines on day 7 in the control group was observed, without statistically significant differences (p > 0.05). All cytokine levels decreased over time in the laser group. Only the IL‐1β level showed a significant difference (p < 0.05). Nd: YAG irradiation has a positive effect on decreasing the proinflammatory cytokine level and may help to control infection in teeth with AP.
Impact investing: Scientometric review and research agenda
Authors: Singhania Monica , Swami Deepika 
Published: September 2023

AbstractInnovations in aligning investment with sustainability led to impact investing, enabling investors to achieve conventional financial returns and measurable social and environmental returns. Since its inception in 2007, it has grown manifolds, with significant efforts being made to create a global ecosystem. However, due to limited academic literature, the theme is yet to garner the scholarly interest it deserves. In this study, we analyse and visualise a knowledge map of the impact investment research field through a comprehensive bibliometric analysis by employing a research corpus of 421 studies sourced from Web of Science and Scopus. We identify the growth trajectory, geographical concentration, productive and influential authors, journals and significant articles and examine the inter‐disciplinarity of the field. The major research themes interlinked with impact investing included; social entrepreneurship, social innovation, social finance, impact investment market, innovative financial instruments, financialisation of essential services and impact reporting. To drive the field forward, future research needs to develop an impact investment ecosystem, address behavioural issues, stakeholder management and institutional context in impact investment theme, develop and diffuse innovative financial instruments, develop a framework for standardised accounting and reporting practices to measure financial and non‐financial dimensions, tackle impact washing by fund managers, address lack of financial access to the third sector and develop the legal and regulatory framework for third sector organisations.
Attentional Strategies and the Transition From Subitizing to Estimation in Numerosity Perception
Authors: Briggs Gordon , Lovett Andrew , Bridewell Will , Bello Paul F. 
Published: September 2023

AbstractThe common view of the transition between subitizing and numerosity estimation regimes is that there is a hard bound on the subitizing range, and beyond this range, people estimate. However, this view does not adequately address the behavioral signatures of enumeration under conditions of attentional load or in the immediate post‐subitizing range. The possibility that there might exist a numerosity range where both processes of subitizing and estimation operate in conjunction has so far been ignored. Here, we investigate this new proposal, that people strategically combine the processes of subitizing and estimation to maximize accuracy and precision, given time or attentional constraints. We present a process‐level account of how subitizing and estimation can be combined through strategic deployment of attention to maximize the precision of perceived numerosity given time constraints. We then describe a computational model of this account and apply it in two experimental simulations to demonstrate how it can explain key findings in prior enumeration research. While recent modeling work has argued that the behavioral signatures of enumeration can best be explained through a single numerosity system with a single form of representation, we argue that our model demonstrates how the traditional two‐systems view of numerical representation accounts for behavioral data through coordination with a unified attentional mechanism, rather than a unified representation.
“Not just for coal miners”: Unionization in U.S. art museums
Authors: Ripley Amanda Tobin 
Published: September 2023

AbstractThis paper examines a collective identity shift among unionizing art museum workers. Pulling data from an action research study of museum union members, I argue that museum workers today are explicitly aligning themselves with working classes in building wall‐to‐wall labor unions and embracing the collective identity, or membership within the group, of “museum worker.” In analyzing this identity label, I draw from Bruce Lincoln's theories on discourse as a mechanism for constructing or dismantling affective social boundaries. The shift from “museum professional” to “museum worker” signifies a redefinition of creative labor and museum work rooted in cross‐class solidarity and bears implications for effective grassroots organizing and coalition‐building for institutional and social change.
Additional staining for lymphovascular invasion is associated with increased estimation of lymph node metastasis in patients with T1 colorectal cancer: Systematic review and meta‐analysis
Authors: Watanabe Jun , Ichimasa Katsuro , Kataoka Yuki , Miki Atsushi , Someko Hidehiro , Honda Munenori , Tahara Makiko , Yamashina Takeshi , Yeoh Khay Guan , Kawai Shigeo , Kotani Kazuhiko , Sata Naohiro 
Published: September 2023

ObjectivesLymphovascular invasion (LVI) is a critical risk factor for lymph node metastasis (LNM), which requires additional surgery after endoscopic resection of T1 colorectal cancer (CRC). However, the impact of additional staining on estimating LNM is unclear. This systematic review aimed to evaluate the impact of additional staining on determining LNM in T1 CRC.MethodsWe searched five electronic databases. Outcomes were diagnostic odds ratio (DOR), assessed using hierarchical summary receiver operating characteristic curves, and interobserver agreement among pathologists for positive LVI, assessed using Kappa coefficients (κ). We performed a subgroup analysis of studies that simultaneously included a multivariable analysis for other risk factors (deep submucosal invasion, poor differentiation, and tumor budding).ResultsAmong the 64 studies (18,097 patients) identified, hematoxylin–eosin (HE) and additional staining for LVI had pooled sensitivities of 0.45 (95% confidence interval [CI] 0.32–0.58) and 0.68 (95% CI 0.44–0.86), specificities of 0.88 (95% CI 0.78–0.94) and 0.76 (95% CI 0.62–0.86), and DORs of 6.26 (95% CI 3.73–10.53) and 6.47 (95% CI 3.40–12.32) for determining LNM, respectively. In multivariable analysis, the DOR of additional staining for LNM (DOR 5.95; 95% CI 2.87–12.33) was higher than that of HE staining (DOR 1.89; 95% CI 1.13–3.16) (P = 0.01). Pooled κ values were 0.37 (95% CI 0.22–0.52) and 0.62 (95% CI 0.04–0.99) for HE and additional staining for LVI, respectively.ConclusionAdditional staining for LVI may increase the DOR for LNM and interobserver agreement for positive LVI among pathologists.
Comparison of Control‐IQ and open‐source AndroidAPS automated insulin delivery systems in adults with type 1 diabetes: The CODIAC study
Authors: Do Quoc Dat , Hásková Aneta , Radovnická Lucie , Konečná Judita , Horová Eva , Parkin Christopher G. , Grunberger George , Prázný Martin , Šoupal Jan 
Published: September 2023

AbstractAimTo compare open‐source AndroidAPS (AAPS) and commercially available Control‐IQ (CIQ) automated insulin delivery (AID) systems in a prospective, open‐label, single‐arm clinical trial.MethodsAdults with type 1 diabetes who had been using AAPS by their own decision entered the first 3‐month AAPS phase then were switched to CIQ for 3 months. The results of this treatment were compared with those after the 3‐month AAPS phase. The primary endpoint was the change in time in range (% TIR; 70‐80 mg/dL).ResultsTwenty‐five people with diabetes (mean age 34.32 ± 11.07 years; HbA1c 6.4% ± 3%) participated in this study. CIQ was comparable with AAPS in achieving TIR (85.72% ± 7.64% vs. 84.24% ± 8.46%; P = .12). Similarly, there were no differences in percentage time above range (> 180 and > 250 mg/dL), mean sensor glucose (130.3 ± 13.9 vs. 128.3 ± 16.9 mg/dL; P = .21) or HbA1c (6.3% ± 2.1% vs. 6.4% ± 3.1%; P = .59). Percentage time below range (< 70 and < 54 mg/dL) was significantly lower using CIQ than AAPS. Even although participants were mostly satisfied with CIQ (63.6% mostly agreed, 9.1% strongly agreed), they did not plan to switch to CIQ.ConclusionsThe CODIAC study is the first prospective study investigating the switch between open‐source and commercially available AID systems. CIQ and AAPS were comparable in achieving TIR. However, hypoglycaemia was significantly lower with CIQ.