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The Library of the University of Leeds, at the invitation of the Nuffield Foundation, carried out a survey of the borrowing use made of it by the staff, research students, and undergraduates of the university during the calendar year 1957, and a report on this survey was published in the Journal of Documentation in March 1959. The results were of value in showing in great detail what demands were made upon the library's stock by different groups of borrowers; it did not show how much use was made of the library for reading on the premises, or how much users of the University Library were able to draw upon external or private resources. The statistics for borrowing showed that undergraduate students ranged fairly widely in their borrowing, and that, for example, many of them made good use of the periodicals in their fields of studies, but it also showed that many of them borrowed from the university libraries only once or twice in a year, or not at all. What other resources had these students? How much did they read and work in the library without borrowing, and how much did they depend upon outside libraries, upon private borrowing, and upon their own book buying? Evidently a more comprehensive account of students' use of the library was needed to show the relative importance of the various means at the student's disposal in his need for books.

In the context of statistical research into the economic value of public library services, a model was developed to demonstrate the economic benefit when books are borrowed rather than bought. The model is based on the number of book reads rather than on book purchases or library issue counts. Different assumptions applied to the model cover the hardback:paperback distinction and different levels of library costs. The most significant variable, however, is shown to lie between books that are “read through” and those “frequently consulted” for information and educational benefit. Maximising book loans through the public library is shown to be not only in the interest of individual users, but also to be economically in the public interest.

Sees the objective of teaching financial management to be to help managers and potential managers to make sensible investment and financing decisions. Acknowledges that financial theory teaches that investment and financing decisions should be based on cash flow and risk. Provides information on payback period; return on capital employed, earnings per share effect, working capital, profit planning, standard costing, financial statement planning and ratio analysis. Seeks to combine the practical rules of thumb of the traditionalists with the ideas of the financial theorists to form a balanced approach to practical financial management for MBA students, financial managers and undergraduates.

It is apparent from the empirical studies in the UK and USA that incorrect approaches are frequently used to evaluate finance leases. Sykes (1975), Hull and Hubbard (1979) and Drury and Braund (1989) in the UK and Ferrara et. al., (1980) in the USA have expressed concern regarding the methods which companies use to evaluate finance leases. For example Sykes (1975) found that only 19% of UK companies used DCF methods to evaluate leases. Hull and Hubbard (1979) observed that many companies used the implied rate of interest quoted from the lessor's leasing tables and compared this with the borrowing rate. However, these tables did not include tax cash flows and were therefore only applicable to a permanent non‐taxpaying organisation. In the most recent study Drury and Braund (1989) found that 41% of the 300 firms responding to a questionnaire used the wrong discount rate to evaluate finance leases and a further 14% used non‐discounting methods. The objective of this article is to explain how the lease or purchase decision should be evaluated. It will be shown that leasing should be compared with borrowing and three different methods of correctly evaluating the lease or borrow decision will be presented and reconciled.

The purpose of this paper is to survey the lease vs buy coverage in leading managerial finance textbooks and to clarify the impact of tax rates and borrowing rates.

The survey uses “plain vanilla” lease vs buy scenarios to critique and clarify particular issues in the textbook presentations.

The survey finds: a lone text shows that there can be a gain from leasing if the lessee’s tax rate is higher than the lessor’s, which challenges the “conventional wisdom” maintained in all the other texts; some textbook examples attribute an overall benefit to leasing to the tax rate difference, but the benefit is actually due to a borrowing rate difference, and borrowing rate differences may be a more important source of leasing benefits than tax rate differences.

The survey provides insights that are not well known and should be useful to instructors and practitioners.

Accounting, Finance, Human Resource Management and Marketing.

BBA, MBA, MS, PHD.

Leasing or borrowing and buy decisions are very crucial in the industrial era. Every company does not possess sufficient resources to meet their investing needs. The leasing options have provided a decent way to congregate fixed assets requirements in manufacturing industry. This case mainly focuses on the dynamics of business survival.

To be able to evaluate the different financial and marketing options available with the company. Understand the relevance of the theory of diversification as applied to financial and production aspects; be able to evaluate the leasing, borrowing and buying options that are available in financing of fixed assets; understand the disclosure requirements in the financial statements according to International Accounting Standards (17); be able to evaluate marketing strategies including pricing options, product diversification, reaction to competition and innovation; and consider human resource policy decisions at times of change including cost-cutting measures.

Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

This paper aims to present a case study of Cisco's corporate development approach which shows how the company built a powerful new business capability: the discipline of selecting the best pathways – build, borrow or buy – to follow when pursuing growth opportunities.

In order for companies to achieve viable growth, business leaders must evaluate all three alternative pathways, which this paper looks into.

The paper revelas that Cisco provides an excellent example of a company that has, over the years, learned how to develop the capability to use the full range of development modes.

This case is based on research for Build, Borrow or Buy: Solving the Growth Dilemma by Laurence Capron and Will Mitchell.

In the way it blends all of the growth modes, Cisco demonstrates the value of top‐level leadership for what should be seen as an enterprise discipline: strategically coordinated building, borrowing and buying.

The case illustrates how Cisco has learned to blend these development initiatives into a balanced and very effective resource portfolio.

Possible reasons for the decline in annual adult book issues from UK public libraries are reviewed. Annual book issues have been decreasing since 1980, due mainly to a decrease in issues of adult fiction and, to a lesser extent, adult non‐fiction. Possible intrinsic causes include cuts in book funds in real terms and reduced accessibility of libraries through library closures and reduced opening hours. One likely extrinsic cause is increased real households' disposable income since the late 1970s, which has expanded people's leisure opportunities and made it easy for them to buy books. The widespread use of home computers and the Internet in recent years is also likely to be a factor, but there is little evidence for a major role of increased television watching. There are some data to suggest that the average person in the UK now spends less time reading books and this, combined with the increase in consumer book purchasing, is probably the underlying cause of the decline in public library book lending.

The purpose of this paper is to share opinions about where the future of Interlibrary Loan could go by discussing new methods of providing service to users. These methods include the expansion of arenas in which requests are searched, and several purchase‐on‐demand options.

The authors describe a framework in which resource sharing transactions are placed within four domains: free, buy, borrow, and rent. New methods of filling requests are discussed within this framework.

In this climate of constant change there are risks involved with libraries integrating a new company or service into a workflow. Factors such as reliability and stability, user expectations, cost, and license terms and provisions are important to consider. Also, the time it takes for staff to learn new tasks must also be evaluated. Staff should be encouraged to evaluate these factors, balancing them in a cost‐benefit framework and strategy, with a focus on ensuring library user satisfaction. Exploring how alternative sources can adapt to a request system, including billing infrastructure is fundamental to the future of resource sharing.

This article is useful for interlibrary loan staff who want to expand their current services or revise their borrowing/lending workflows.

A recent research project examined partnerships between booksellers, publishers, library suppliers and librarians that were being used to promote books and reading. The full project report, Partnership in Promotion, contains an extensive literature review, referring to over 70 items – journal articles, books, conference proceedings, manuals and news items – as well as a range of organizations and resources in the field of reading promotion. In this article, the seminal texts of the last ten years (1992‐2001) are reviewed in order to highlight the rise of reader development and the growing partnership working among sectors of the book industry. The purpose of the article is to draw together the principal texts in this largely uncharted area in order to provide practitioners with a concise and reliable guide to developments of the last decade.