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Theories on industrial buying behavior differ fundamentally with regard to motivation and direction of industrial purchasing decisions. This becomes extremely in the case of new institutional economics, highlighting administrative aspects, and market process theory, focusing on entrepreneurial aspects of buying decisions. This paper aims to challenge these approaches by setting up an experimental design. Decisions of sales and purchasing managers were investigated with respect to their motivation of self‐protection or opportunity seeking.

The contribution is based on an experimental design. The design is based on a prospect theory scenario. Prospect theory states that successful economic agents show a stronger tendency towards self‐protection, whereas under‐performing economic agents are willing to bear greater risks in search for opportunities.

The results suggest that indeed out‐performers show a tendency to risk avoidance and under‐performers are willing to bear more risks. The most important implication is that new institutional economics‐based approaches to buying behavior are not universally valid. However, they apply to specific situations. In that respect the contribution shows a direction for the proper application of transaction cost‐based concepts.

Managers are advised to take the economic performance of their customer companies into account. Outperforming companies are more responsive to measures for self‐protection. Under‐performing customers may be more tolerant towards risk if it is compensated with the expectation of better opportunities.

The empirical research is new in so far as it is the first to apply a prospect theory framework to a business market environment. The results show clearly that the methodology, as originally applied in prospect theory, needs refinement when transferred to a business market context.

The various authorities concerned with food safety and the arrangements for detection and withdrawal of food which is hazardous to health are discussed. Suspect food can be removed from sale and from catering establishments rapidly thanks to the warning system organised by the Department of Health.

The purpose of this paper is to examine the relationship among firm characteristics, innovation, financial resilience and survival of financial institutions in Uganda.

This paper employs a cross-sectional research design, and responses from 143 officers of 40 financial institutions are analyzed using Statistical Package for the Social Sciences. The authors used ordinary least squares regression in testing the hypotheses.

The authors find that firm characteristics of size, age, innovation and financial resilience have a predictive force on survival of public interest firms such as financial institutions.

The implication drawn here is that a combination of firm characteristics, firm innovation and financial resilience explains a significant contribution in the survival chances of financial institutions. However, as much as firm characteristics and financial resilience are significant, innovation explains more of the variances in financial institutions’ going concern appropriateness.

This paper adds to the limited financial institutions literature and provides the first empirical evidence of the efficacy of innovation and financial resilience on financial institutions survival. The auditing profession could consider more seriously the innovation activities and financial resilience of financial institutions in their test for the going concern assumption of such firms.

WE look before and after at the beginning of 1951. The three cardinal dates in the history of the public library movement—which is only the larger part of the national library service—were 1850 which saw the legal origin of the movement; 1919 when it was set free from the enforced poverty of sixty‐nine years, and 1950 when it reached what until today was its veritable apotheosis. General recognition, such as authority from the Crown to the humblest journal gave to public libraries, was something undreamed of not more than thirty years ago. Perhaps, now that some of the splendour of the commemoration has taken more sober colours, it is well to consider what was gained by it. First, the recognition is there and can scarcely be belittled by anyone hereafter; we stand on a somewhat different platform now. We have the extremely valued recognition of our colleagues from libraries overseas. From these advantages all libraries and not only public libraries will in their own way profit.