This study uses a recently developed theory and technique to examine post-acquisition evidence as to the motives for mergers and acquisitions(M&As), and decomposed the M/B ratio into three components: firm-specific error, time-series sector error, and long-run value-to-book. We make a multidimensional grouping according to the frequency of M&As , payment method, proportion of shares acquired, M/B ratio before the merger and total assets of the acquirers before the merge. The results confirm that M&As involve multiple motives, such as market timing, industry and economic shocks, agency and hubris. Using a sample of 2,035 M&As in China, we find that 59% are related to market timing, 68% are related to agency and hubris, 21% are related to industry and economic shocks, 51% are related to multiple motives. Our empirical research finds that the main motives for M&As of listed companies in China are value-decreasing, which have negative impact on the acquirers‘ sustainable development.

In this study, cement is used as the component that provides the stabilizing effect in order to evaluate the hardness and stability of loess soil. To assess the strength characteristics of loess soil reinforced with cement, samples were created with four different cement contents and three different curing times. The materials were put through a series of tests to determine their flexural strength, direct shear strength, indirect tensile strength, and unconfined compressive strength. An appropriate cement dosage was found, in addition to a durability index that could be used to quantify the effect of water absorption investigations on cement-stabilized loess. Both of these discoveries were made simultaneously. Analyses of investigations such as scanning electron microscopy (SEM) and energy dispersive X-ray fluorescence spectrometry (XRF) examinations were carried out so that the fundamental mechanics of the materials could be comprehended. According to the findings, the cohesion of cement-stabilized loess is significantly more sensitive to structure than the friction angle of the material, and the cohesion is responsible for the increase in shear strength after remolding. To get the desired level of strength, it is necessary to adjust the cement's proportions. In addition, as the curing period progresses, we see an increase in the cement-stabilized loess's resistance and stiffness. This is because of the interactions that take place between the structure and the mineral composition. It is believed that this event was caused by the cementation that occurs naturally. As a consequence of this reaction, the production of new cementitious materials takes place. The cation exchange that causes the hydration and pozzolanic reaction that leads to the creation of aggregates and interparticle flocculation is responsible for their production. These findings suggest that cement may be utilized as a simple and effective method of loess stabilization, which will ultimately result in improved performance of the loess.

The disease COVID-19 is highly infectious, and infectious in asymptomatic incubation period. The national epidemic development has been effectively controlled and continues improving, especially in areas outside Hubei province. Such periodical results were achieved by the joint efforts of the whole society, including not only the hard work and dedication of the front-line medical workers but also the active cooperation of the general public. The strict epidemic prevention and control measurements have brought remarkable control results. In the present study, the basic infection number of the coronavirus R0 (basic replication number of the infection) before and after prevention and control measurements was simulated to elaborate the measurements of the Chinese government on epidemic prevention and control, providing reference for the people around the world.