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The greatest revolution in financial management over the last 20 years must be the growth in the use of derivative securities. We can also consider this area to be part of the much larger concept of financial engineering. Limited in their use for many years, innovative financial institutions have now introduced derivatives of every colour and flavour. Principal driving forces in this growth have been:

The aim of this study was to provide a pilot evaluation of novel, brief formulation development workshops with direct care staff supporting people with intellectual disabilities who display significant psychosocial difficulties. A series of workshops were designed and delivered to a staff team supporting an individual who had been referred to specialist intellectual disabilities health services. The workshops used a psychosocial framework to facilitate development with care staff of a case formulation for the individual they were supporting. Following the workshops, there were decreases in problematic behaviours displayed by the individual and in the staff team's perception of the severity of these behaviours. The staff team felt that the workshops had had a beneficial impact on their practice. The pilot indicated that the workshops were feasible, positively received and associated with changes in the psychosocial difficulties displayed by the individuals staff were supporting.

The case was developed from two 2-h interviews with the Chief Operating Officer of A-Basin, Alan Henceroth; there is no CEO of A-Basin. The second interview was recorded on a Zoom call to provide accuracy of quotations and information. A variety of secondary sources were used in terms of better understanding the current state of the ski industry, as well as its history.

Arapahoe Basin (A-Basin) is a historic, moderately sized, ski area with proximity to metropolitan Denver, Colorado. For over 20 years A-Basin partnered with Vail, allowing skiers to use the Vail Epic Pass, for which A-Basin received some revenue from Vail for each skier visit. The Epic Pass allowed pass holders unlimited days of skiing at A-Basin. More and more skiers were buying the Epic Pass, thus increasing the customer traffic to A-Basin. However, the skier experience was compromised due inadequate parking, long lift lines and crowded restaurants. The renewal of the contract with Vail was coming due, and A-Basin had to consider whether to renew the contract with Vail. The case is framed primarily as a strategic marketing case. The authors use Porter’s five forces model to assess the external environment of A-Basin, and the authors use the resource-based view and the VRIO tool to assess A-Basin’s internal strengths. Both frameworks provide useful analysis in terms of deciding whether to continue A-Basin’s arrangement with Vail or end the contract and pursue a different strategy. In 2019, after consultation with the Canadian parent company Dream, A-Basin made the decision to disassociate itself from the Epic Pass and Vail to restore a quality ski experience for A-Basin’s customers. No other partner had ever left its relationship with Vail. An epilogue details some of A-Basin’s actions, as well as the outcomes for the ski area. Generally A-Basin’s decision produced positive results and solidified its competitive position among competitors. Other ski areas have since adopted a similar strategy as A-Basin. A-Basin’s success is reflected in a pending offer from Alterra, Inc., to purchase the ski area.

The A-Basin case can be used in both undergraduate and graduate strategic (or marketing) management courses. It is probably best considered during the middle of an academic term, as the case requires students to apply many of the theoretical concepts of strategy. One of the best books to enable students to use Porter’s five forces is Understanding Michael Porter by Joan Magretta (Boston: Harvard Business Review Press, 2012). Magretta was a colleague of Porter for many years and was an Editor of the Harvard Business Review. For a discussion of the VRIN/VRIO concept, see Chapter 4 of Essentials of Strategic Management by Gamble, Peteraf and Thompson (New York: McGraw-Hill Education, 2019).

The author feels haunted; troubled by the ethnography that the author conducted some years ago of a new partnership group that was attempting to set up a community learning centre. The author is aware that it doesn’t sound like a particularly alarming research topic, and perhaps that is where some of the issues began. The author did not expect an ethnographic haunting to occur. The partnership recruited the author less than a year into the creation of the project and spent two years as a sort of ‘researcher in residence’. The original idea was that the author would observe the initial development of the project and then, when the community learning centre was established, the author would research the centre’s activities and how they were experienced by village residents. However, fairly soon into the project, problematic dynamics developed within the group, leading to irreconcilable conflict between members. The community learning centre was never established and the author was left to piece together an ethnography of a failed partnership. Researching an increasingly dysfunctional partnership was an emotionally exhausting activity, especially when relationships between members became progressively hostile. Managing data collection and analysis at this time was difficult, but the author was shocked that, a number of months (and now years) later, revisiting the data for publication purposes remained uncomfortable. The author managed to produce the PhD thesis on the back of this study, but the author has not felt able to go back to the data, despite there being findings worthy of publication. This ethnography is in a state of limbo and is at risk of becoming lost forever. In this chapter, the author explores the reasons for this and discusses lessons learned for future projects.

This paper investigates the Jensen's free cash flow (FCF) hypothesis in the context of UK cash acquisitions. Under this hypothesis, financial slack induces mangers to acquire targets for cash if such behaviour generates either pecuniary or non‐pecuniary rewards for them, giving rise to a potential agency problem around cash takeovers. We argue that the stronger position of shareholders, as opposed to firm managers, in the UK should help in constraining such potential agency problems around such mergers. Compared to the USA, position, this should make the FCF hypothesis less relevant in the UK.

This paper uses short‐run announcement period returns and long‐run calendar‐time returns in testing our hypotheses.

This paper shows that low leverage and high FCF may be advantageous provided shareholder monitoring is adequate. By analysing both announcement period and long‐term returns, we show that acquirers with high levels of FCF are superior performers, and that any long‐run under‐performance of cash acquirers appears to be associated with low cash resources and low institutional ownership.

Inevitably, long‐run returns measurement is contentious, although we present results from alternative models to mitigate this. Limitations are necessarily imposed by the sample size, meaning that multi‐way partitioning of the data is not feasible.

The practical implications are that the UK regulatory and institutional ownership regime may actually protect the interests of shareholders and mitigate agency problems.

As far as we are aware, this is the first paper to systematically test FCF, leverage and institutional ownership effects in the context of UK cash acquisitions.

This paper analyses buyer‐supplier relationships from the perspective of small and medium‐sized enterprises (SMEs). Preliminary results show that actors within a supply chain are not homogeneous in terms of their size, resources and business motives, and this brings into question the validity and relevance of the purchasing literature when examining smaller firms. This paper outlines the usefulness and importance of purchasing behaviour in SMEs in relation to the size and nature of the firm. The research draws principally from a series of in‐depth interviews undertaken with owner‐managers within plastic moulding companies in Lancashire, UK.

Provides a comprehensive bibliography of Foster′s work. Includes titles and descriptions of his work and film and TV tie‐ins including Star Trek. Concludes that as a writer he is best known for straight SF but has broken into both fantasy and horror.

Prior studies of academics’ career migration patterns typically focused on middle- and upper-class faculty. The “push/pull” or “hard/soft” factors relevant to faculty from more privileged groups emerged from those analyses. This phenomenological study used qualitative interviews with 12 faculty members from lower social-class backgrounds to discover variables unique to this group. Due to lifelong differences in basic resources and limited access to educational opportunities, as well as adherence to class-based values, faculty from lower social-class backgrounds made career decisions based primarily on financial and family needs rather than the variables found in earlier studies. In order to paint a complete picture of factors that enter into the career-decision-making process, studies examining the mobility of academics must consider inclusion of faculty from lower social-class origins.