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This study examines the effect of inflation on stock returns in the context of the policy reaction function theory. This theory contends that the nature and extent of the government’s policy reaction to inflation will depend upon the current level of economic activity. A contractionary policy, which will depress stock returns, is more likely when the economy is a ta business cycle peak than at a trough. Therefore, the effect of inflation on stock returns varies with the stage of the business cycle. In order to test this theory, monthly consumer price indices, capacity utilization indices, and stock returns were examined. The results of using the returns of both a market index and a sample of individual companies between 1962 and 1988 support the theory.

Using various proxies for the firms' return on equity (ROE) and retention ratios (b) the authors calculate 36 sustainable growth rates, on a rolling basis, for a comprehensive set of firms over a 52-year period. The authors then assess the ability of these different sustainable growth rates to predict the actual, out-of-sample, five-year growth rates of the firms' earnings.

The authors compare the forecast to determine which method of estimating ROE and b produce the lowest mean-squared-errors and then determine the estimation method that works best for firms with different characteristics and for firms in different industries.

Overall, using the median ROE of all firms in the market and the 5-year average of the specific firm's retention ratio produces the lowest, statistically significant, forecast errors. Variations are documented based on firm characteristics, including dividend payout, level of ROE and industry.

The findings can guide practitioners in using the best earnings forecasting method.

Financial textbooks seem universally to suggest that one method of estimating the growth rate of a firm's earnings is to calculate the “sustainable growth rate” by multiplying the firm's ROE by the firm's b. At the same time, multiple methods of proxying for both ROE and b have been suggested; therefore, it is an interesting and useful empirical question, which, heretofore, has not been addressed in the literature, as to which estimation of the sustainable growth rate best approximates the actual future growth of the firm's earnings. The findings can guide practitioners in using the best earnings forecasting method.

President Bill Clinton has had many opponents and enemies, most of whom come from the political right wing. Clinton supporters contend that these opponents, throughout the Clinton presidency, systematically have sought to undermine this president with the goal of bringing down his presidency and running him out of office; and that they have sought non‐electoral means to remove him from office, including Travelgate, the death of Deputy White House Counsel Vincent Foster, the Filegate controversy, and the Monica Lewinsky matter. This bibliography identifies these and other means by presenting citations about these individuals and organizations that have opposed Clinton. The bibliography is divided into five sections: General; “The conspiracy stream of conspiracy commerce”, a White House‐produced “report” presenting its view of a right‐wing conspiracy against the Clinton presidency; Funding; Conservative organizations; and Publishing/media. Many of the annotations note the links among these key players.

The purpose of this paper is to investigate if Bowman’s Paradox (negative association between risk and return) is caused by managerial myopia. It also attempts to disentangle whether results are more consistent with one or more potential explanations.

The paper uses univariate statistics and OLS regressions. Empirically examines the relationship between four risk and return proxies, across a wide ranging time period and utilizing a number of model specifications. Results hold after using three-way clustered errors and using a more robust rolling five year, fixed regression methodology measure.

Confirms the existence of the Paradox. Also documents that the association between risk and return is positive in “winner” firms and negative in “loser” firms. Upon further analysis, the earlier negative risk-return relationship is found to entirely be due to the volatility of the (short term) income statement component of the performance terms. Results imply that executives of winner (loser) firms are less (more) likely to manage earnings or engage in other value destroying activities.

The study is confined by the typical archival study limitations; including potential endogeneity, selection biases and generalizability of the results.

Anecdotal evidence indicates that the business community makes extensive use of these performance measures. These performance measures are also pervasive in academic research. Given the importance of controlling for both managerial and firm performance, a good performance proxy is quintessential.

Although over 30 years have passed since Bowman (1980) first observed the negative correlation, to date, no consensus explanation exists. Findings suggest that Bowman’s Paradox, is potentially a manifestation of managerial myopia. Thus, this result contributes to several existing research streams.

Although leadership education typically is not explicitly incorporated into student affairs preparatory programs, student affairs practitioners are expected to facilitate the leadership development of their students. Thus, through two simultaneous Delphi panels, Group A: Student Affairs Practitioners (n=17) and Group B: Student Affairs Preparatory Program Faculty (n=20), this study explored the places or experiences where student affairs practitioners should learn and practice the professional competencies needed to be a student affairs leadership educator. Both expert panels agreed the graduate assistantship was the most important place to learn and practice how to be a leadership educator. Yet these findings demonstrate a gap between research and practice within student affairs preparatory programs. Four recommendations are provided to strengthen the professional preparation of student affairs practitioners as leadership educators.

This paper examines coverage of America’s death penalty in “mainstream” and “radical” newspapers in the 1970s. That decade was a crucial period for capital punishment, and newspapers during that time helped set the trajectory of the public’s awareness and understanding for the remainder of the twentieth century. While scholars have recognized the role played by newspaper framing of capital punishment, most have limited their consideration to the mainstream press. We broaden the consideration to the radical press and note similarities in the treatment of the moral status of the death penalty across newspapers of different types. We find that the radical press was more likely to portray it as an instrument of racial and class oppression. In addition, long before mainstream papers attended to questions about the reliability of the death penalty system, radical papers were calling attention to the number of innocent people who were erroneously sentenced to death. Like dissenting opinions in judicial decisions, the radical press highlighted issues not emphasized in mainstream papers and foresaw concerns that would become important in the death penalty debate a decade or two later.

Currently, more students receive leadership education from student affairs offerings than academic leadership courses. Using two simultaneous Delphi panels, Group A – 17 student affairs managers and Group B – 20 student affairs preparatory program faculty members, this study sought to identify the characteristics of a student affairs leadership educator. While there was agreement (93.8%, n = 32) that student affairs practitioners are leadership educators, there was a disconnect between the two panels in how leadership education should be demonstrated within the context of student affairs. These findings support previous research that student affairs practitioners and preparatory program faculty disagree on the characteristics needed to be a successful student affairs practitioner and expands the impact of these findings into the area of leadership education.

The long‐term goal for integrated information management at the Johns Hopkins Medical Institutions is the creation of a knowledge management environment—a network of databases that an individual would tap as one would one's own memory. An important library component in this emerging environment is WELMED, a general purpose bibliographic database management system that permits the library to distribute its databases and related services to its users through common, customizable interfaces. The characteristics and components of the WELMED system are detailed.

Cost growth in Department of Defense (DoD) weapon systems continues to be a scrutinized area of concern. One way to minimize unexpected cost growth is to derive better and more realistic cost estimates. In this vein, cost estimators have many analytical tools to ply. Previous research has demonstrated the use of a two-step logistic and multiple regression methodology to aid in this endeavor. We investigate and expand this methodology to cost growth in procurement dollar accounts for the Engineering and Manufacturing Development phase of DoD acquisition. We develop and present two salient statistical models for cost estimators to at least consider if not use in mitigating cost growth for existing and future government acquisition programs.

Recent research has shown that student affairs practitioners are characterized as leadership educators by experts in their field, but leadership education traditionally is not part of a student affairs preparatory program, nor is leadership education a commonly discussed professional competency. Using two simultaneous Delphi panels, Group A: Student Affairs Practitioners/Managers (n=17) and Group B: Student Affairs Preparatory Program Faculty/Directors (n=20), this study sought to ascertain the competencies required of entry-level student affairs leadership educators. Between the two panels, 128 unique competencies were identified. Four recommendations are provided to strengthen the professional development of student affairs leadership educators.