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This paper examines the pricing of Initial Public Offerings (IPOs) in the secondary market on the first day of aftermarket trading. The focus of this study is on shifts in average returns over time, and does not necessarily address the cross‐sectional implications of a risk/return relation. The focus of the study is to examine the reasonableness of first day trading prices of IPOs. Initial returns of IPOs, issued during the period, January 1, 1999 to June 30, 2000, reached as much as 800 per cent, and the average initial return for the study sample was of 76 per cent. An important question is whether the high initial returns, observed during this time period, are appropriate for the level of risk associated with these new issues. Related to this question is the pricing of these securities by investment bankers (i.e. the offer price) and the pricing of the securities in aftermarket trading (i.e the secondary market). The results of this study indicate the presence of speculative excesses in the initial pricing of IPOs in aftermarket trading during 1999 and part of 2000. Further there is no indication that IPOs are excessively underpriced by investment bankers during the study period, January 1, 1997 through June 30, 2000. The results of this study may be useful to investors in making decisions about purchasing new public securities in the secondary market.

TO MARK what in their new celebration brochure is colourfully and correctly described as ‘a century of progress’, Millers Oils promoted a series of open day hospitality events over the period 20–22 May, with twice‐daily sessions at the Brighouse, West Yorkshire plant.

Collection development literature has burgeoned over the past decade, yet the complaint is still heard that college libraries are not engaged in meaningful collection development activities. College librarians often consider methods described in published research as too time‐consuming, technologically dependent, or statistically complex to apply to their own situations. How relevant is the literature to the practical needs of the collection developer? In addressing this question, a theoretical overview of collection development is presented, and recent publications reviewed, in terms of their relevance to collection planning, implementation, and evaluation in the small college library.

Mr. Robert F. Ashby's article in the Autumn number on the provision of fiction in libraries encourages us, as consumers who are not librarians, to make a suggestion about the criteria used in selecting from one kind of popular fiction, crime stories. The element of something more than a puzzle and a story has always intrigued us in these books, and our interest in them is now almost exclusively in their discussion of this other factor. So we read crime fiction at random, from the local library; and recently we took the first six thrillers which neither of us had read from the Latest Additions shelf so as deliberately to consider them from this point of view.

This study investigates the profound impact of artificial intelligence (AI) capabilities on decision-making processes and organizational performance, addressing a crucial gap in the literature by exploring the mediating role of decision-making speed and quality.

Drawing upon resource-based theory and prior research, this study constructs a comprehensive model and hypotheses to illuminate the influence of AI capabilities within organizations on decision-making speed, decision quality, and, ultimately, organizational performance. A dataset comprising 230 responses from diverse organizations forms the basis of the analysis, with the study employing a partial least squares structural equation model (PLS-SEM) for robust data examination.

The results demonstrate the pivotal role of AI capabilities in shaping organizational decision-making processes and performance. AI capability significantly and positively affects decision-making speed, decision quality, and overall organizational performance. Notably, decision-making speed is a critical factor contributing significantly to enhanced organizational performance. The study further uncovered partial mediation effects, suggesting that decision-making processes partially mediate the relationship between AI capabilities and organizational performance through decision-making speed.

This study contributes to the existing body of literature by providing empirical evidence of the multifaceted impact of AI capabilities on organizational decision-making and performance. Elucidating the mediating role of decision-making processes advances our understanding of the complex mechanisms through which AI capabilities drive organizational success.

This paper reports the results of a field study that examined the expectations of users as they relate to the quality of service offered by the information systems (IS) function within organizations. While the results indicate that users have consistently high expectations across organizations, the results also indicate that expectations can differ due to age and gender. The paper discusses the implications of these results, along with ways that management can use this information to better influence user expectations.

Donna L. Van Raaphorst provides a detailed statistical analysis of a large sample of Alcatraz Prison inmates using the Social Science Statistical Package. The data, drawn directly from the inmate files, is compared whenever possible with similar data provided by the Bureau of Prisons in order to determine if Alcatraz, often regarded as America's Devil's Island, really incarcerated the so-called “Worst of the Worst” in its time. The results would seem to indicate that Alcatraz inmates were, in fact, not remarkably different from those in any other Federal prison in the system.

This research provides accounting-ethics authors and administrators with a benchmark for accounting-ethics research. While Bernardi and Bean (2010) considered publications in business-ethics and accounting’s top-40 journals this study considers research in eight accounting-ethics and public-interest journals, as well as, 34 business-ethics journals. We analyzed the contents of our 42 journals for the 25-year period between 1991 through 2015. This research documents the continued growth (Bernardi & Bean, 2007) of accounting-ethics research in both accounting-ethics and business-ethics journals. We provide data on the top-10 ethics authors in each doctoral year group, the top-50 ethics authors over the most recent 10, 20, and 25 years, and a distribution among ethics scholars for these periods. For the 25-year timeframe, our data indicate that only 665 (274) of the 5,125 accounting PhDs/DBAs (13.0% and 5.4% respectively) in Canada and the United States had authored or co-authored one (more than one) ethics article.