Test of the rationale for conglomerate merger: agency costs or pecking order?

Article Abstract:

The agency perspective regarding motivation for a conglomerate merger proposes that managers pursue such mergers to diversify employment risk or to reduce reliance on external financing by acquiring a profitable enterprise. On the other hand, the pecking order viewpoint suggests that such mergers happen when managers decide that related mergers are unattractive and that they can be more effective in unrelated endeavors. Significant variables in both schools of thought are jointly tested through an empirical analysis. The pecking order framework was shown to be statistically significant.

Evaluation, Conglomerate corporations, Acquisitions and mergers

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Ad Agency Automates

Article Abstract:

The Xerox 820-II microcomputer, with Z80A processor and 64K RAM, has been installed in the office of the creative director of USP Needham advertising agency. The micro is used as a dedicated word processor for keying in and storing advertising copy which requires numerous revisions. A Xerox 610C Memorywriter electronic typewriter serves as a printer or for typing short one- of-a-kind items. The system with software costs $7,620 (Australia).

Office automation, Computer Systems, Microcomputer, Applications, Advertising (Industry), USP Needham, Xerox 820-II

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Management of scientific institutions NPL 1995-98: The transition from agency to government-owned contractor operated

Article Abstract:

The management of the UK's National Physical Laboratory between 1995 and 1998 since the transition from agency to government-owned contractor operated business, is examined.

Management, Scientific societies, Science organizations

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