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Do Asian Companies Bid Higher in Cross-Border M&A? A Moderating Effect Analysis
(2026-04-12) García-Gómez, Conrado Diego; Farinha, Jorge Bento; Demir, Ender; Díez-Esteban, José María; Department of Business and Economics
This study examines whether Asian companies pay higher premiums in cross-border mergers and acquisitions (M&A) and identifies the institutional factors driving this behavior. Grounded in the concept of Asian institutional logic—characterized by state coordination, relational governance, and long-term strategic orientation—we argue that these features shape distinctive acquisition patterns compared to Western market logics. Using a large sample of cross-border M&A during the period 2003–2021, we first uniquely compare whether the geographical origin of the acquirer firm is a relevant determinant of the premium paid, namely for cross-border operations targeting Asia, Europe, and the United States. We find that Asian acquirers pay significantly higher premiums compared to their European and U.S. counterparts. Employing a moderating effect approach, we find that this relationship is amplified by four mechanisms aligned with the Asian institutional logic. Specifically, we analyze the role of Chinese state-owned enterprises (SOEs) and find that they contribute significantly to the higher premiums paid. Our results are robust across different model specifications and subsample analyses, shedding light on the distinct dynamics of cross-border M&A involving Asian firms.
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Distributed Energy Resource Management System (DERMS) Cybersecurity Scenarios, Trends, and Potential Technologies : A Review
(2025-01-30) Sugunaraj, Niroop; Ram Abayankar Balaji, Shree; Subash Chandar, Barathwaja; Rajagopalan, Prashanth; Kose, Utku; Charles Loper, David; Mahfuz, Tanzim; Chakraborty, Prabuddha; Ahmad, Seerin; Kim, Taesic; Apruzzese, Giovanni; Dubey, Anamika; Strezoski, Luka V.; Blakely, Benjamin; Ghosh, Subhojit; Jaya Bharata Reddy, Maddikara; Vardhan Padullaparti, Harsha; Ranganathan, Prakash; Department of Computer Science
Critical infrastructures like the power grid face increasing cyber threats due to the widespread integration of interconnected distributed energy resources (DERs). Compromised DER endpoints can trigger cascading outages, intentional device failures, and communication losses. To address these challenges, this paper reviews cybersecurity vulnerabilities in DER management systems (DERMS), including state-of-the-art attacks on data communication protocols, access control mechanisms, and identity management policies. Key threats such as false data injection, malware, denial of service, and network vulnerabilities are discussed. Additionally, realistic threat scenarios are outlined, followed by discussions on advanced security strategies such as the zero trust framework. The paper also introduces new architectural patterns aligned with the IEEE 1547.3 standard, offering a multi-level hierarchical framework for securing DERMS data and assets. Furthermore, it examines cybersecurity threats compromising confidentiality, integrity, availability, and accountability (CIAA) at various levels. This review uniquely consolidates existing research on DER cybersecurity and highlights necessary advancements, particularly intrusion diagnostic units (IDUs), to enhance future DERMS technologies. By ensuring compliance with IEEE 1547.3 standard requirements, this study contributes to improving DER cybersecurity resilience.
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Digital health interventions for women in frontline public service roles : A systematic review of effectiveness in reducing substance use
(2026-01) Williamson, Grace; Khatun, Toslima; King, Kate; Simms, Amos; Dymond, Simon; Goodwin, Laura; Carr, Ewan; Fear, Nicola T.; Murphy, Dominic; Leightley, Daniel; Department of Psychology
Frontline occupations, including military, healthcare, and first responders, often include frequent exposure to traumatic events, increasing the risk of substance use disorders (SUDs). Research has shown that those in high-intensity occupations are at higher risk of developing SUDs compared to the general population. Women face unique experiences related to substance use, including greater functional impairment and barriers to treatment access. Yet, understanding of the effectiveness of digital health technologies in addressing substance use among women in frontline occupations is limited. This systematic review evaluates the effectiveness of digital health interventions in reducing substance use among women in frontline roles. Four databases (PsycINFO, Ovid MEDLINE, Embase, PsycArticles) were searched for English language full-text articles (2007–2024) that (1) evaluated a digital intervention designed to reduce substance use, (2) reported changes in substance use outcomes such as frequency, intensity or duration, using validated tools (3) included current or former frontline public service workers, and (4) included women as the primary target population or as a subgroup within the sample. 13 papers met inclusion criteria, focusing on eight distinct web and mobile-based interventions for alcohol, tobacco and illicit substances. Most studies (n=11) reported substantial post-intervention reductions in alcohol and tobacco use, although results for PTSD symptoms, illicit drug use, and quality of life were mixed. This review highlights the potential of digital health interventions for reducing substance use but underscores significant gaps in research. The scarcity of studies focused on women, small and heterogeneous samples, and focus on veterans limits the generalisability to women in frontline roles. These gaps present a pressing challenge in understanding gender-specific digital intervention efficacy. Future research should prioritise larger, representative samples of women across diverse frontline occupations to drive the development of digital technologies tailored to the unique challenges faced by women in these roles.
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Development, validation and test-retest reliability of a load cell-based device for assessment of isometric forearm rotation torque
(2025-08-29) Köykkä, Miika; Laatikainen-Raussi, Iida; Vierola, Sami; Cronin, Neil J.; Waller, Benjamin; Vänttinen, Tomi
Objectives. This study aimed to develop and validate a load cell-based device for measuring isometric forearm rotation torque and to determine its test-retest reliability. Approach. The custom-built device was calibrated using known weights and validated against a high-precision torque transducer. For reliability assessment, 35 physically active participants (20 males, 15 females; age 30 ± 7 years) were tested for isometric forearm pronation and supination strength 5-7 d apart. Main results. The custom device demonstrated excellent validity (intraclass correlation coefficient (ICC), absolute agreement = 1.00; r2 = 1.00, p < 0.001; mean difference = −1.26-1.44%, p < 0.001). Test-retest reliability was excellent for absolute pronation and supination torque (ICC = 0.88-0.97; coefficient of variation percentage (CV%) = 4.1-5.6; minimal detectable change (MDC) at 90% confidence level = 13.1-19.9%), good to excellent for supination:pronation ratios (ICC = 0.60-0.88; CV% = 7.0-8.6; MDC = 0.10-0.13), and fair to good for dominant:non-dominant ratios (ICC = 0.42-0.66; CV% = 6.1-7.6; MDC = 0.07-0.10). Sex significantly influenced absolute torque values, with males demonstrating consistently higher torque, although reliability metrics were similar for both sexes. Significance. The device is valid, and the test is reliable. It is suitable for clinical assessments, rehabilitation monitoring, and performance evaluation, facilitating an improved understanding of factors affecting elbow overloading and injuries. Limb ratio metrics should be interpreted with caution due to their lower reliability.
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Development and Mechanical Testing of Synthetic 3D-Printed Models of Healthy and Metastatic Vertebrae
(2025-11) Bruno, Daniela; Forni, Riccardo; Palanca, Marco; Cristofolini, Luca; Gargiulo, Paolo; Department of Engineering
Experimental characterisation of ex vivo specimens is limited by specimen availability and high costs, whereas 3D printing provides a cost-effective alternative for producing multiple replicas. This study aimed to develop a methodology for evaluating the individual and combined effects of material composition and geometry on the biomechanical performance of 3D-printed vertebrae. CT scans of healthy human vertebrae and with lytic metastases were segmented to fabricate synthetic models through Digital Anatomy Printing. Three types of 3D-printed models were produced: Healthy vertebrae, Metastatic vertebrae, and Healed vertebrae (metastatic geometry filled with healthy material). All models were tested under axial compression to measure the strength, stiffness, and strain. Repeatability across replicas was assessed as well as comparison of mechanical properties among the different vertebral types. Results showed excellent repeatability, with coefficients of variation below 5% for strength and stiffness-related parameters. The Metastatic models exhibited significant reductions in strength compared to Healthy ones, while stiffness remained similar, consistent with ex vivo data trends. Healed models highlighted the role of material composition in driving mechanical behaviour, independently of geometry. This work provides the first quantitative assessment of 3D-printed vertebrae with metastatic lesions, supporting their future potential as standardised alternatives to cadaveric testing.

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