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In this second installment, the author addresses some of the problems associated with empirically validating contingent‐claim models for valuing risky debt. The article uses a simple contingent claims risky debt valuation model to fit term structures of credit spreads derived from data for U.S. corporate bonds. An essential component to fitting this model is the use of expected default frequency; the estimate of the firms' expected default probability over a specific time horizon. The author discusses the statistical and econometric procedures used in fitting the term structure of credit spreads and estimating model parameters. These include iteratively reweighted non‐linear least squares are used to dampen the impact of outliers and ensure convergence in each cross‐sectional estimation from 1992 to 1999.

This article surveys available research on the contingent‐claims approach to risky debt valuation. The author describes both the structural and reduced form versions of contingent claims models and summarizes both the theoretical and empirical research in this area. Relative to the progress made in the theory of risky debt valuation, empirical validation of these models lags far behind. This survey highlights the increasing gap between the theoretical valuation and the empirical understanding of risky debt.

Organizational researchers studying well-being – as well as organizations themselves – often place much of the burden on employees to manage and preserve their own well-being. Missing from this discussion is how – from a human resources management (HRM) perspective – organizations and managers can directly and positively shape the well-being of their employees. The authors use this review to paint a picture of what organizations could be like if they valued people holistically and embraced the full experience of employees’ lives to promote well-being at work. In so doing, the authors tackle five challenges that managers may have to help their employees navigate, but to date have received more limited empirical and theoretical attention from an HRM perspective: (1) recovery at work; (2) women’s health; (3) concealable stigmas; (4) caregiving; and (5) coping with socio-environmental jolts. In each section, the authors highlight how past research has treated managerial or organizational support on these topics, and pave the way for where research needs to advance from an HRM perspective. The authors conclude with ideas for tackling these issues methodologically and analytically, highlighting ways to recruit and support more vulnerable samples that are encapsulated within these topics, as well as analytic approaches to study employee experiences more holistically. In sum, this review represents a call for organizations to now – more than ever – build thriving organizations.

This study using a prison sample to explore Social Dominance Orientation (SDO), socially dominant inmate behaviour, index offence, age and length of time served in secure environments. A sample of 397 adult male prisoners completed the Direct and Indirect Prisoner Behaviour Checklist‐ Scaled (prisoner behaviour towards other inmates and staff) and the Social Dominance Orientation (SDO) Scale. It was predicted that prisoners would report higher SDO than non‐incarcerated populations and that among inmates those with approach orientated index offences would be higher in SDO than those whose offenses were more remote. It was also predicted that SDO would be related to younger age, higher lifetime rates of incarceration, more negative behaviour towards other inmates and staff, and more resource focused behaviour. The results broadly supported predictions, and possible implications for practice and directions for future research are discussed.

IT is fitting that a new series of this magazine should be introduced by some reflections on the whole question of book selection, both for the general public and libraries.

The Slender Man, an online monster born to the internet in 2009, loves to live in the boundaries, specifically the boundary between the digital and the non-digital worlds. This chapter seeks to explore the full engagement of the community with the myth, analysing it structurally to understand the way, in which the narrative’s construction reflects the relationship of monster to society and society to itself. The sincerity in which the narratives are told, at first appearing intense, is actually a form of play, revealing a boundary blurring between play and non-play as well. While fully engaging in play, the community’s structured narrative is more than this: pulling them into a trapped world in which they play with death in the digital. The triadic structure of the Slender Man narratives reveals an anxiety to the community and their place within broader non-digital worlds.

THE monumental History of Criticism by Professor Saintsbury, and Mr. Hall Caine's lighter series of studies would be sufficient to put anyone on their guard against accepting as final many of the critical decisions of the important literary reviews. Mr. Caine's book particularly is a revelation of error and spite such as makes one wonder that anonymous literary criticism should be received with toleration by bookmen.

In transitioning to the 21st Century, the proces of planetisation is leading to the development of a world culture. With the landing of humans on the Moon in 1969, astronauts provided us with stunning pictures of our Earth as seen from outer space. The view challenges us to revise our images of our species — who are we as a human family? Space communication satellites and remote sensing technologies help us to appreciate our planet's resources, as well as its environmental and ecological problems. All this contributes, along with advances in telecommunications and mass transportation, to the breaking down of national borders and cultures and to the emergence of a global, information‐oriented culture. While this happens at the macro level, counterforces are at work that are evident in global tribalism and regression locally to “ethnic cleansing” of people who are different. Despite the latter negative trends, humanity's main‐stream is beginning to appreciate that our common survival and satisfaction of our universal needs and concerns are linked to other species and systems, so we should, as far as feasible protect our world and all its inhabitants. In contemplating the evolution and future of humans, the scientist/philosopher, Tielard de Chardin, described planetisation as a convergence of phenomenon such as, increased consciousness and homogenisation — people are beginning to realise their interdependence on each other, as well as upon all life in our universe.

The purpose of this paper is to identify a set of specific activities and a set of competencies associated with above‐average firm performance.

Quantitative survey of 748 respondents.

It was found that four key competencies differentiate high performing from low performing companies: organizational confidence; pricing capabilities; organizational change capacity; and championing behaviors by top management. The research also identifies a set of specific activities that are linked with superior firm performance: activities directed at the improvement of pricing effectiveness (e.g. trainings, pricing tools; pricing performance reviews); improvements in product differentiation and product quality (e.g. through innovation and research aimed at identifying and creating customer value); increased sense of organizational confidence (e.g. optimism, resilience, “can do”‐attitude); improved support of top management; improved ability to stick to list prices and minimization of discounting behaviors; and finally, enhanced cultural adaptability to respond to changing market conditions.

Through a quantitative research design, the authors document the link between pricing capabilities, organizational confidence and superior firm performance.

The authors identify both specific activities, as well as higher order competencies, practising managers need to develop in order to increase firm performance via pricing. Taking a hypothetical company as example, the authors' data show that, on average, a one point improvement on a seven‐point scale in organizational confidence leads to a 4 per cent improvement in return on sales.

Our research highlights which organizational competencies drive firm performance. Specifically this research is the first quantitative survey which documents a positive relationships between organizational confidence and firm performance.