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In this paper the capital asset pricing model is extended to include the local property tax, the corporate income tax, and a borrowing rate that increases with the percentage of property value borrowed. The optimal percentage to borrow increases with the risk‐free interest rate and the corporate tax rate, decreases with an exogenous increase in the borrowing rate, and does not depend upon the property tax rate. REITs and limited partnerships have no incentive to borrow in this model, so other motives for borrowing must be posited.

The purpose of this paper is to test empirically the extent to which differences in property taxes are capitalized in the market prices of industrial real estate.

This paper is a multiple regression study of the selling prices of 419 industrial properties near O’Hare airport in metropolitan Chicago that were sold during 2001‐2004. The paper also includes a theoretical analysis of the relationship between the property tax rate on industrial property and the tax revenue that is collected.

The results show that selling price per square foot is a function of property characteristics as expected, and suggest that the property tax differential between Cook County and DuPage County is fully capitalized. The property tax differential was 2.63 per cent of market value, and comparable properties sold for 16.2 per cent less in Cook County than in adjacent DuPage County. The theoretical analysis shows that the revenue‐maximizing property tax rate in the long run depends upon the capitalization rate, the elasticity of demand for industrial real estate, and the elasticity of supply of industrial real estate.

The data pertain only to the area near O’Hare airport for the years 2001‐2004. Additional empirical tests are needed in other places and for other time periods. Also, the impact of public services on the value of industrial property needs to be investigated.

Appraisers of industrial real estate should adjust estimates of market value for differences in property taxes. Buyers and sellers of industrial real estate should also be cognizant of the effect of property taxes on market value. Local public officials should be aware of the possibility that a relatively high tax rate on industrial property can cause tax revenue collected to be less than the maximum amount that is possible.

This is the first empirical study of industrial property values that includes the effect of variations in the property tax.

The assumption of variable asset supply is incorporated into the standard capital asset pricing model because of consistent and strong empirical results showing that equity is issued when share prices are high. The results of the model show that the “beta” of the asset is influenced by both its demand and supply functions. Available empirical evidence suggests that the supply of corporate equity, over a time period of a year, is inelastic and that demand is elastic. More empirical research is needed.

This paper aims to examine the lives of early twentieth century opera star Louise Homer and her composer husband Sidney, and their attempts to manage two successful careers and a family of six children. Almost 100 years ago, the Homers – a rare example of a two‐career family – employed several adaptive strategies that academic researchers later suggested for twenty‐first century dual‐career couples.

Considering the work‐family literature, two modern models of managing and coping with the stresses of dual careers were examined and the Homer family were then considered to determine whether they employed similar strategies. Letters were used from the Homers and their children, other original documents and secondary research in investigating the couple's efforts to handle the challenges of dual‐careers when the concept of a woman pursuing a profession outside the home was a novelty.

Several adaptive strategies recently “discovered” to be used by upper‐income dual‐career couples with children seem just as applicable to 1911 when the Homers' fifth child was born. The findings underscore the idea that challenges perceived as unusual and unique to one generation have been dealt with successfully by past generations.

The paper provides an historical perspective on newly suggested strategies for dual‐career couples in the work‐family literature. Such strategies have been used for at least a century even though the dual‐career concept only became prominent in the last four decades. This paper is one of a few that examines dual‐career couples in an historical context, and indicates how the past can inform those who face contemporary workplace phenomena.

Over 80 companies from throughout Europe and from the USA are already exhibitor‐listed in “Airmec News”, the preview for the biennial International Aircraft Maintenance Engineering Exhibition & Conference, which return to the Zuspa Halls, Zurich, from 10–13 February 1981. This preliminary list alone clearly indicates the comprehensive nature of developments in the facilities, services and support equipment employed in the maintenance of civil and military aircraft. It includes not only the repair, overhaul, maintenance and testing of airframes, engines, avionics and other equipment, but also the refurbishing of interiors, maintenance planning and management techniques and other innovative aids to efficiency and economy.

British Aerospace Aircraft Group announces two appointments in its Civil Division at Hatfield aimed at strengthening the company's marketing and product support interface with the world's airlines.

The purpose of this paper is to apply the (advanced) brand concept maps (BCM) approach to reinvestigate previous findings on feedback effects resulting from brand extension information (BEI) and to explore whether this information affects the structure of a brand’s associative network.

This research builds on the associative network memory model, as well as Keller’s conceptualization of customer-based brand equity, and uses a series of empirical studies with a total of 839 respondents in two different countries.

The findings reveal that BEI has no significant impact on the structure of the parent brand’s associative network at the individual level. Furthermore, key brand image dimensions (i.e. favorability, strength, and uniqueness of brand associations) are not affected.

By applying the (advanced) BCM approach, this paper is able to address shortcomings that are incorporated with the use of Likert scales for measuring a brand’s image and for investigating feedback effects in the field of brand extension. As the results indicate that the identification of feedback effects might be influenced by the approach used to measure a brand’s image, this paper calls for further investigations of feedback effects on a brand’s image.

Data from three empirical studies provide insights into the cognitive processing of BEI and their impact on a brand’s associative network.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.