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In this paper we compare three types of forecasts of the volatility of equity returns series. The first is an historical estimate based on a simple sample standard deviation. A second is an estimate found by implying the volatility using the Black‐ Scholes formula. Finally, the third is an estimate obtained by forecasting with an estimated generalized autoregressive conditional heteroscedasticity (GARCH) model.

Acquisitions of bankrupt firms can be beneficial because the bankrupt targets may be more receptive to acquisition offers for the purpose of survival, courts can override any resistance that may occur, information on the target is disclosed within the formal reorganization plan, acquirers can accrue tax benefits, and acquirers may assume favorable debt contracts. However, two disadvantages of acquiring a bankrupt firm are higher costs of completing the conversion and the high degree of uncertainty about the target's future cash flows. Results of our analysis suggest that firms announcing acquisitions of bankrupt targets experience favorable wealth effects. Thus, the market appears to anticipate that the present value of future cash flows derived from the target will exceed the cost of the acquisition. Our analysis also found that acquisitions of bankrupt firms yield more favorable wealth effects than acquisitions of healthy firms. The acquisitions of bankrupt firms were especially well received by the market when the acquirer was the sole bidder and when the target's business was closely related to that of the acquirer.

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

This paper aims to discuss the ways to strengthen the contribution of scholarship to gender equity in practice for entrepreneurs and entrepreneurship. Research that spotlights gender construction and enactment, including its origins and its discriminatory effects on people, is inherently social action to the degree that it motivates institutional change. For this 10th year recognition of the founding of the International Journal of Gender and Entrepreneurship, the four waves of feminism framework is used to consider our conceptual domain and select practitioners in the gender × entrepreneurship field are interviewed for input on-field needs. Findings are that academics can boost equity in practice by doing original research and promoting research that is more representative, sharing specialized scholarship skills in activist arenas, making the results of academic research available to practitioners and policymakers, and reviewing and validating (or discrediting) information circulating in public spheres.

This reflective essay is designed to consider the relevance of scholarship in gender and entrepreneurship to practitioners who participate in the entrepreneurship ecosystem. The concept of the temporal waves of feminism, plus interviews with international practitioners, are used to inform the issues.

Findings are that academics can boost equity in practice by doing original research and promoting research that is more representative, sharing specialized scholarship skills in activist arenas, making the results of academic research available to practitioners and policymakers, and reviewing and validating (or discrediting) information circulating in public spheres.

Scholars of gender and entrepreneurship can look for and create access and meaning for their work with and for practitioners. Bridges to scholarship on gender (e.g. in psychology, anthropology, gender studies, social psychology) can be built to stay current and effective.

Using Cointegration Tests, Granger‐Causality Tests, and OLS, this study empirically investigates the determinants of the rate of return on savings and loan assets over the 1965–1991 period. It is found that it is determined by the mortgage rate, the capital/asset ratio, the price of imported crude oil, the cost of deposits, and the ceiling on federal deposit insurance.

An appreciation of the legal environment becomes more important with each passing year for anyone involved in corporate finance. A casual glance at the morning newspaper will usually provide a quick reminder of just how much the two areas are interrelated. The current debate in the United States concerning health care legislation may well result in a package that has a tremendous impact on many companies and industries. Tax issues have been in the news recently as well. There have been a number of significant changes in tax regulations during the past decade, including the legislation just passed by the U. S. Congress in 1993. Smoking continues to generate considerable controversy, and one result has been courtroom battles between tobacco companies and local governments over antismoking ordinances. During the last year, the DuPont Corporation has been defending itself in court over charges that one of its products caused substantial damage to farm crops. Guilty or not, the risk and expense from product liability is an enormous problem confronting almost all companies today. Texaco settled a lawsuit with Pennzoil in 1988 for $3 billion in damages stemming from a battle for the control of Getty Oil. Texaco won that battle, but suffered a very serious setback in the courtroom.

Grounded in Yijing, the wellspring of Chinese philosophies, this research aims to propose a novel interpretation of the indigenous Yin-Yang harmony cognitive framework, and to elaborate on how to use it as a meta-theorising tool to characterise the conflicting yet complementary dynamics of strategy, commonly seen as the prominent feature of Chinese strategic thinking.

Using the Yin-Yang harmony approach (i.e. Yin as the endogenous factors and Yang the exogenous factors), the authors first put forward eight paradoxical situations facing Chinese organisations as per the changing paradigm of Yijing. Then the authors use the thick description model as a roadmap to identify three evolving trajectories in Chinese higher education (HE) system. Finally, they raise four strategic propositions regarding how competing HE institutes handle the conflicting yet complementary dynamics in China.

Results show that the main strategic choices used by two different types of higher education institutes to cope with the current high-level uncertainty and competition could be described in terms of the two “Qian” and “Li” strategic situations, respectively. More details are discussed in the four propositions.

This research brings potentially valuable implications for global regulators, policymakers, providers and other stakeholders through better understanding of HE-related issues, as well as certain distinct conceptual complexities in terms of developing strategies in China. It implies potentially significant differences in cognition between East and West, and illustrates what may be their workings.

This indigenous eight-dimensional paradigm demonstrates the conflicting yet complementary dynamic gestalt of organisational strategic choices that may only be realised in Chinese terms, and that cannot be elucidated by theories purely derived from Western experience. It thus can foster the transfer of understanding between the East and West and open a new chapter for future research.