Drexel University

About: Drexel University is a education organization based out in Philadelphia, Pennsylvania, United States. It is known for research contribution in the topics: Population & Poison control. The organization has 26770 authors who have published 51438 publications receiving 1949443 citations. The organization is also known as: Drexel & Drexel Institute.

Agency Theory, Managerial Welfare, and Takeover Bid Resistance

Abstract: Tender offers provide an ideal setting for the analysis of agency relationships since the best interests of the principal (target firm shareholders) and agent (target firm managers) are often in conflict. Moreover, the actions and stated rationale of target managers in resisting or not resisting tender offers are readily observable, and the size of the possible agency costs is great. This research provides direct empirical evidence on the relationship between managerial welfare and takeover bid resistance. Tests on a sample of cash tender offers provide support for the managerial welfare hypothesis. The existence or absence of bid resistance is found to be directly related to the personal wealth changes of the target firm's managers. The relationships between managerial actions and bid premium size, bidder nationality, conglomerate offers, and "ex post settling up" are also examined.

Notched Strength of Composite Laminates: Predictions and Experiments—A Review:

Abstract: A self-contained review of several semiempirical fracture models for predicting notched strength of composite laminates is presented, based on notched strength data on 70 different laminate configurations of graphite/epoxy, boron/aluminum, and graphite/polyimide. Emphasis is placed on experimental results concerning such failure factors as delamination, splitting, and size of damage zone. Moreover, the fracture model parameters are correlated with the notch sensitivity of composite laminates, and the applicability of the correlations in describing the material notch sensitivity is evaluated. The predictions provided by the different models were found to be identical for all practical purposes.