Author of over 90 technical papers, he is coeditor of the book open problems in communication and computation. The cost and benefit analysis of the mergers and acquisitions affect the decision by the managers and the shareholders of whether to take up a specific merger and acquisition. They can be horizontal deals, in which competitors are combined. Aug 12, 1991 when i was in graduate school, we were required to take a course in information theory, with cover and thomas book as the required text. But getting there can be an incredibly complex process. Though the efficiency theory of mergers has dominated the field of research on merger motives for many years, its empirical validity is still very limited. In 1972 he received the outstanding paper award in information theory for his paper broadcast channels, and he was selected in 1990 as the shannon lecturer, regarded as the highest honor in information theory. Please contact the doida law group and let us help you with every aspect of your merger.
Elements of information theory 2nd edition wiley series in. Elements of information theory 2nd edition wiley series in telecommunications and signal processing 9780471241959 by cover, thomas m thomas, joy a. What theory explains the relationship between mergers and corporate debt financing. Cover is a past president of the ieee information theory society, a fellow of the ieee and the institute of mathematical statistics, and a member of the national academy of engineering and the american academy of arts and science. Broadly, the studies find and the theory puts forth that there is a higher consequence arising from preexisting structural characteristics, over those that are cultural. So, i searched for books on information theory in places other than reddit, and in my search i found this list of books for anyone else who is also interested in learning information theory. Elements of information theory 2nd edition wiley series in telecommunications and signal processing. Basis for horizontal merger it may be social gain as well as private gain. In light of the trend towards mergers and the reported high rate of failure, it seems that organizational leadership during the merger experience is an important consideration. Merger is corporate combination of two or more independent business corporations into a single enterprise, usually the absorption of one or more firms by a dominant one. Buy elements of information theory wiley series in telecommunications and signal processing 99th ed. Unfortunately, despite the large number of event studies of mergers that have been. At the time, the course was so challenging for me that i came away with a sour view of information theory altogether. Data compression can be achieved by assigning short descriptions to the most frequent outcomes of the data source and necessarily longer descriptions to the.
Your recommendation appears on that list, so ill be sure to check my local library. Results also support the common expectation that organizational complexity is a. To date, academic researchers have not yet proposed a complete theory that completely and perfectly integrates the synergy, private benefits and hubris hypotheses to explain why the three hypotheses can all be supported. What theory explains the relationship between mergers and. Elements of information theory 2nd edition wiley series. A bibliometric study of top strategy journals conference paper pdf available january 2011 with 3,553 reads. He devoted almost his entire career to developing the relationship between information theory and statistics. Operating synergy types and their impact on postmerger. This is a graduatelevel introduction to the fundamental ideas and results of information theory. This high failure rate was on the minds of keybank chairman and ceo beth mooney, president chris gorman, who was charged with leading the overall merger integration process, the entire executive team, and the board of directors of key from the moment they contemplated its merger acquisition of first niagara financial group in 2015. The chief argument is that the presence of a lockup.
Readers are provided once again with an instructive mix of mathematics, physics, statistics, and information theory. All the essential topics in information theory are covered in detail, including entropy, data compression, channel capacity, rate distortion, network information theory, and hypothesis testing. Information theory 1 introduction 2 statistical signal modelling random variables and probability distribution joint probability conditional probability and bayes rule statistical independence of wto random variables correlation coe cient 3 amount of information 4 discrete source 5 discrete channel 6 shannons theorem 7 summary 10. Key elements of leadership integration in a mergeracquisition. Efficiency theories differential efficiency operating synergy finance essay. Information theory and statistics university of belgrade. Given the increasing amount of merger activity, any insights that promote a greater understanding. Our pdf merger allows you to quickly combine multiple pdf files into one single pdf document, in just a few clicks. The theory of reasonable action fishbein and ajzen, 1975 ajzen 1991 developed theory of planned behavior which is about one factor that determines behavioural intention of the persons attitudes toward that behaviour as shown in figure 4. Thus, this study attempts to propose an integration theory.
New material on source coding, portfolio theory, and feedback capacity. Elements of information theory 2nd ed wiley 2006 thomas m. Use features like bookmarks, note taking and highlighting while reading elements of information theory. The course moves quickly but does not assume prior study in information theory. We would appreciate any comments, suggestions and corrections to this solutions manual. Updated references now current and enhanced, the second edition of elements of information theory remains the ideal textbook for upperlevel undergraduate and graduate courses in electrical engineering, statistics, and telecommunications. Information theory and statistics we now explore the relationship between information theory and statis tics. The use of economics in competition law 2005, jan 27, brussels the views expressed herein are not purported to reflect those of the federal trade commission, nor any of its commissioners. Elements of information theory 2nd edition wiley series in telecommunications and signal processing cover, thomas m. It is intended for graduate students from mathematics, engineering or related areas wanting a good background in fundamental and applicable information theory. Cover is a past president of the ieee information theory society, a fellow of the ieee and the institute of mathematical statistics, and a member of the national academy of engineering and the american academy of arts and. In recent times, researchers have been motivated to study the impact of mergers on corporate financing. Shmuel leshem empirical evidence shows that termination fees lockups in merger agreements of public companies discourage competition for the target company but do not necessarily harm target shareholders. Elements of information theory kindle edition by cover, thomas m.
The efficiency theory of mergers, which views mergers as effective tools to reap benefits of synergy, is still the basis of many merger studies. A theory of mergers and firm size we propose a theory of mergers that combines managerial merger motives with an industrylevel regime shift that may lead to valueincreasing merger opportunities. There are two points to be made about the simplicities inherent in information theory. Tom cover joy thomas durand 121, information systems lab stratify. Pdf the influence of resource based view in the mergers. Elements of information theory fundamentals of computational. Please note that the solutions manual for elements of information theory is ed and any sale or distribution without the permission of the authors is not permitted. Theory and evidence on mergers and acquisitions by small and. Elements of information theory ftp directory listing. Pdf zusammenfugen pdfdateien online kostenlos zu kombinieren. Cover, phd, is professor in the departments of electrical engineering and statistics, stanford university. Sep 10, 2015 when properly planned and executed, a strong merger and acquisition can take the involved companies to heights they never dreamed of. Elements of information theory second edition solutions to. Efficiency theories differential efficiency operating synergy.
Differential entropy we now introduce the concept of differential entropy, which is the entropy of a continuous random variable. Data compression we now put content in the definition of entropy by establishing the fundamental limit for the compression of information. A reference point theory of mergers and acquisitions. We begin by describing the method of types, which is a powerful technique in large deviation theory. While it is clear that no single theory will never be able to address the full range of merger phenomena, reference points fill in some of the blanks. We use the method of types to calculate the probability of rare events and to show the existence of. An empirical examination of efficiency theory of mergers in. Apr 02, 2009 in our forthcoming journal of finance article eat or be eaten. This article presents a signaling theory consistent with this evidence and considers the theorys normative implications. The first two factors are the same as theory of reasonable action fishbein and ajzen, 1975. Apr 07, 2005 a recipient of the 1991 ieee claude e.
Jul 08, 2016 according to this theory if the management of firm a is more efficient than the management of firm b and after firm a acquires firm b the efficiency of firm b is brought upto the level of efficiency of firm a. Differential entropy is also related to the shortest description length, and is similar in many ways to the entropy of a discrete random variable. Operating synergy types and their impact on post merger performance lennart horst michael junge anr 791051 master of science finance supervisor. This free online tool allows to combine multiple pdf or image files into a single pdf document.
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