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With the dramatic transformation of China’s industrial landscape, since the late 1990s, adaptive reuse of industrial heritage for cultural purposes has become a widely occurring phenomenon in major Chinese cities. The existing literature mainly focusses on specific cases, yet sees heritage conservation similarly at both national and regional scale and rarely identifies the main factors behind the production of China’s industrial-heritage reuse. The purpose of this paper is to examine the differences in heritage reuse outcomes among three Chinese mega-cities and explore the driving factors influencing the differences.

This paper compares selected industrial-heritage cultural precincts in Beijing, Shanghai and Chongqing, and explores the local intervening factors influencing differences in their reuse patterns, including the history of industrial development, the availability of the nineteenth and/or twentieth century industrial buildings, the existence of cultural capital and the prevalence of supportive regional government policy.

The industrial-heritage reuse in the three cities is highly regional. In Beijing, the adaptation of industrial heritage has resulted from the activities of large-scale artist communities and the local government’s promotion of the city’s cultural influence; while in Shanghai, successful and more commercially oriented “sea culture” artists, private developers in creative industries and the “creative industry cluster” policy make important contributions. Chongqing in contrast, is still at the early stage of heritage conservation, as demonstrated by its adaptive reuse outcomes. Considering its less-developed local cultural economy, Chongqing needs to adopt a broader range of development strategies.

The paper contributes to knowledge by revealing that the production of industrial-heritage cultural precincts in Chinese mega-cities is influenced by regional level factors, including the types of industrial heritage, the spontaneous participation of artist communities and the encouragement of cultural policy.

Urban renewal through the regeneration and redevelopment of public housing estates has become a major policy initiative in most Australian state housing authorities since the mid-1990s. These policies have involved a mix of both physical renewal and community development in response to the problems that have emerged in the public housing sector over the past two decades. While the origins of these problems are well established and reflect the changes experienced by public housing sectors in other comparable countries (Hayward, 1996; Peel, 1995), the impact of policies to address these problems in the Australian context has attracted less attention in the academic literature (Arthurson, 1998; Randolph & Judd, 2000). While there is an emerging body of evaluation and research that has attempted to assess the outcomes of renewal programmes and policies, it can be argued that there is still a relatively poor level of general understanding of what aspects of renewal are effective or what outcomes have actually been achieved. At the same time, there has been little effective development of an exchange between researchers or evaluators on the effectiveness of the various evaluation methodologies – qualitative and quantitative – that have been used to assess renewal policies. This is particularly evident at the national level (Spiller Gibbin Swan, 2000).

This paper aims to illustrates the use of the modern Graham and Dodd valuation methodology as a corporate M&A tool by way of case study.

The paper presents a case study of the 1995 Berkshire Hathaway acquisition of GEICO and draws on previously published Graham and Dodd methodological materials as well as GEICO's publicly available financial information. The valuation presented in the case is the sole work of the authors.

The paper finds that, while Graham and Dodd‐based valuation is a popular investment methodology it has thus far received scant attention as a corporate M&A tool. The results of the GEICO case suggest that Graham and Dodd valuation could be applied successfully to corporate M&A.

The paper explains modern Graham and Dodd valuation in the context of Berkshire Hathaway's 1995 GEICO acquisition. It demonstrates how that acquisition contained a reasonable margin‐of safety, or price discount to estimated intrinsic value, even though it was taken private at a 25.6 percent premium over the $55.75/share market price at the time. The case demonstrates the practical utility of Graham and Dodd‐based valuation in corporate M&A, and provides recommendations for its use in that context.

While Graham and Dodd valuation has been well covered from an investment perspective this is the first work, as far as the authors are aware, that seeks to apply it to corporate M&A.

This chapter adopts a reflective approach exploring and setting out the contrasting factors that led to the establishment of the subdiscipline in both countries. The factors included the role of key individuals and their respective academic backgrounds and specialisations within each country’s higher education system. Furthermore, attention is given to the particular circumstances in a case analysis comparison of the oldest programs in Aotearoa/New Zealand and Australia. This sheds light upon the factors linked to the disproportionate success profile for the sociology of sport in Aotearoa/New Zealand. An analysis of scholars and programs within each country reveals important differences aligned with the politics of funding and the variety and extent of systematic structures. Additionally, scholars’ specialisations and preferences reveal a broad offering but are primarily linked to globalisation, gender relations, indigeneity and race relations, social policy, and media studies. This work has been undertaken variously via the critical tradition including Birmingham School cultural studies, ethnographic and qualitative approaches and, more recently by some, a postmodern poststructuralist trend. Lastly, along with a brief discussion of current issues, future challenges are set out.

Purpose – We share experiences from the research process that expose the shortcomings and flaws of the different research production review mechanisms. Our aim is to highlight the resistance and paternalistic misunderstandings that characterise some processes when considering indigenous ‘subjects’.

Design/methodology/approach – This chapter draws upon examples from primary source material as the basis for analysis and discussion. These examples are drawn from academic reports, correspondence to authors and media accounts. The critical approach is influenced by the theoretical works that address the influence and infiltration of ‘commonsense’ understandings, and the resistance to alternative academic inquiry and interpretation of indigenous sports participation issues in Australia.

Findings – The structure, resources and mechanisms available to the dominant alliance of dominant groups serve to curtail and suppress alternative research efforts.

Research limitations/implications – The available examples are not drawn from the broad field. Indeed, they are limited to those available via research circles of colleagues. Any conclusions should be considered within the notion of context specific rather than any broad generalisation.

The purpose of this paper is to assess the value and risks of Disney's 2009 $4 billion acquisition of the Marvel Entertainment Group (Marvel) in a case study utilizing the modern Graham and Dodd valuation approach.

The paper presents a detailed valuation of Marvel in 2009 drawing on previously published Graham and Dodd methodological materials and Marvel's publicly available financial reports.

Disney's $4 billion acquisition price for Marvel contained considerable risks based on certain valuation assumptions, which were identified in the context of our analysis.

This acquisition is a useful one for executives to study because it involves a situation many of them could face: evaluating the purchase of a great company that is seemingly a strategic fit and offered at what appears to be a reasonable price. Assessing such opportunities utilizing the modern Graham and Dodd valuation approach facilitates greater levels of insight into key assumptions, value drivers, and risks.

This is a methodology that has proved useful to successful value investors over time.

Lessons executives in many industries can learn from a Graham and Dodd‐based valuation of the 2009 Disney acquisition of Marvel include: better risk assessment, valuation of entertainment property assets and franchise assessment.

This paper introduces the base‐case‐valuation pattern, which is derived from the modern Graham and Dodd valuation methodology, and it demonstrates how that pattern could be utilized in M&A by way of a case study.

The paper presents a case study of the 2004 acquisition of Sears by hedge‐fund manager Eddie Lampert. It draws on previously published Graham and Dodd methodological materials as well as Sears' publicly available financial information. The valuation calculations presented in the case is the sole work of the author.

The results of the case suggest that base‐case valuation could be practically utilized in M&A. Significantly, it could also be utilized in the formulation of an M&A‐negotiating strategy, shareholder‐communication plan, and performance‐improvement plan.

The paper demonstrates how that acquisition contained a reasonable margin‐of safety, or price discount to estimated value, even though it occurred at a multiple of 1.8x Sears' book value at the time.

This case demonstrates the practical utility of base‐case value in M&A by way of the 2004 Sears acquisition.

This work introduces the base‐case‐valuation pattern, and it is the first work, as far as we are aware, that applies the Graham and Dodd methodology to the Sears acquisition even though Eddie Lampert is a noted Graham and Dodd‐based practitioner.

This paper seeks to propose a definition of strategic mergers and acquisitions (M&A) that is illustrated by way of case study. It also aims to introduce the strategic concept of “nascent franchise.”

The proposed definition is based on existing strategic theory, which was extended to the field of M&A. The supporting case analysis is based on the Berkshire Hathaway‐led acquisition of MidAmerican Energy Holdings Company (“MidAmerican”) in 1999, and was prepared from publicly available financial information.

Defining strategic M&A in the manner proposed in this paper proved useful in explaining the dynamics of, and post‐acquisition performance of, the MidAmerican acquisition. It also helped to frame the analysis leading to the concept of nascent franchise.

The paper's definition of strategic M&A could help reframe deal deliberations for practitioners, and spur research by strategy scholars. Additionally, the concept of “nascent franchise” could be developed in future research conducted by either practitioners or academicians.

Strategic M&A is defined in a manner consistent with the literature, but extended and illustrated in a unique manner. The valuation presented in this paper, and the concept of nascent franchise derived from the valuation, are based solely on the author's work.

This paper aims to illustrate the viability of distressed mergers and acquisitions (M&A) by way of case study utilizing the modern Graham and Dodd valuation approach.

The paper presents a distressed acquisition case study of the 1996 Marvel Entertainment Group (Marvel) bankruptcy. It draws on previously published Graham and Dodd methodological materials as well as a financial case study of Marvel that was prepared at the time. The valuation presented in this paper is the sole work of the author.

The case study supports the view that distressed M&A can be a viable corporate strategy alternative. It also demonstrates how a multi‐layered valuation approach such as Graham and Dodd can be ideal for identifying value that may be hidden in the confusion and distress of bankruptcy.

The case study illustrates the valuation insights that the modern Graham and Dodd approach can produce in a distressed setting.

The case study illustrates the viability of distressed M&A as a corporate strategy alternative.

This is the first paper that we are aware that applies Graham and Dodd‐based distressed M&A valuation to corporate strategy.