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Russia is potentially the largest and most intriguing of the emerging markets but will it ever fulfil its promise? There is little point in describing the detailed regulations at this stage; but this paper begins by explaining the back‐ground to the August 1998 collapse. It goes on to examine the prospects for the re‐establishment of a sound currency, and the development of sound banking and financial markets. These will require action on tax, regulation and corporate governance and a combination of the West being willing to help and the Russians to accept such help. The paper ends on a note of guarded optimism.

The theme of this issue of Managerial Finance is managing corporate tax. Accompanying contributions address capital budgeting, financing, dividends, and financial reporting.

A call for long term incomes policy which will provide managers and professional staffs with rewards comparable to those paid to their counterparts in Europe is made in a statement rejecting the Government's five per cent guide line by APST — the union for managers in science based industries.

CHRISTMAS is coming, and the year is nearly done. On the whole, a good year, I think—at any rate for realism. No doubt we shall have our (by now) customary industrial fun and games during the winter, with lights going out, rubbish piling up in the streets, and the car‐workers continuing to perform their slow‐motion, ritual suicide. But it is becoming appreciated that inflationary, pay increases simply spawn unemployment.

Guidance has recently been issued to police officers on how to respond to people with learning disabilities and mental illnesses. We review this Guidance and comment on some of the advice, in the context of current issues and concerns. This article contains a brief summary of the Guidance, but for more detailed coverage, we recommend that the Guidance itself be consulted.

The purpose of this paper is to identify, operationalise, and test a knowledge management model in the context of electroacoustic and mixed music preservation. This operationalisation intends to provide an interdisciplinary framework for the specification of meaningful usability for idiosyncratic technological artefacts build up during the creative process of these works.

The design of the questionnaire was based on semi‐structured interviews with seven composers. The resulting questionnaire was used for an online survey targeting composers registered at electroacoustic and mixed music online associations. Data were collected from 33 composers.

This article demonstrates the relevance of Boisot's knowledge management model in order to categorize the knowledge involved during the creative process of electroacoustic and mixed music with spatialisation.

In terms of Boisot's model operationalisation, the authors identified limitations with regards to composers' ability to discriminate between different levels of abstraction and diffusion. Since multiple agents, both human and non‐human, are involved in the creative process of electroacoustic and mixed music, further studies should address their interaction throughout the creative process.

Based on the findings of the survey, the authors propose the concept of significant knowledge as an extension of significant properties in order to provide a meaningful usability of digital objects. Since similar technologies are used in theatre, dance, and fine arts, the authors expect this research to benefit the artistic community at large in terms of preservation.

There is a wide variety of actions which management may take in order to cope with the effects of possible movements in exchange rates. The choice of which action to take must be considered in the context of tax planning, both from the point of comparing costs and benefits on an “after‐tax” basis, and also as to the timing of the relevant payments. As with most decisions in the international finance arena, the problem resolves itself to one of maximising the after‐tax return to the parent company, though many sub‐objectives may also be identified. In this article we shall firstly examine the tax implications of individual foreign exchange management actions for a UK‐based company; and secondly, we shall briefly examine some of the differences which exist in other national tax environments.

After a few years away from the countryside, a brief visit to some farms in the heart of England reveals a changed scene. Farming is obviously prosperous and there are now many more young men farming; because of better conditions, older men have been able to retire and hand over to the younger man who has often attended an agricultural college and shows it in the methods he employs, especially in milk production Nowadays there seems to be a surfeit of machines, a greater use of machine‐milking, sometimes with pipe‐systems to cooler and direct to churns, without manual effort from start to finish. The rural water supply schemes and electrification between the two wars have revolutionised farming and taken the drudgery out of milk production. The farm kitchen is a revelation and the farmer's wife, young, strong, efficient, attractive and fashionable, surrounded with every electrical domestic appliance devised by the ingenuity of man, is as much changed as the farmer himself.

While “academic entitlement” focuses on student entitlement and its consequences, there is a need to be aware of the consequences of teachers' entitled feelings arising from their subjective perceptions on student learning. This micro-ethnographically oriented study uses the case of an eleven-year-old fifth-grade student's low academic performance at a Spanish primary school to unravel the notion of excessive teacher entitlement embodied in the social organization of schooling. A qualitative analysis of teachers' perceptions of this student's low performance showed that most of their opinions were subjective, based on their deep-rooted deficit view of students. These beliefs seemed to make teachers feel entitled to blame the student and her background instead of arousing self-reflection leading to self-realization and change in practice. The study points to teacher entitled feelings as a symptom of the wider sociocultural mores that make teachers assume the power to arbitrate without considering students' situated needs. This study draws attention to the need to help teachers become conscious of and analyze self-entitlement to enable them to base their decisions on reason rather than prejudice.

The purpose of this paper is to support the development of effective strategies that enhance community water supply systems. The study examined service constraints and willingness to pay for better services in community-managed water supply services using empirical evidence from beneficiaries of a small-town water supply system in Ghana.

A survey design of both descriptive and exploratory research is adopted, the descriptive survey handles the quantitative aspect, while the exploratory survey handles the qualitative aspect. The authors collected data using a structured survey questionnaire from 387 beneficiaries who were public standpipe and domestic users. Descriptive statistics, Kendall's coefficient of concordance and Cragg's two-step model were the methods of analysis employed.

The respondents ranked lack of capacity (managerial) as the topmost constraint of the community-managed water system. The findings indicate that 57% of the beneficiaries were not willing to pay, whiles 43% were willing to pay. Also, results from Cragg's two-step regression model indicate that different sets of factors affect willingness-to-pay and amount-to-pay decisions. The study revealed that while a willingness-to-pay decision is influenced by income, education, marital status and customer service, the estimated-amount-to-pay decision is more influenced by income and education.

Building on the empirical evidence, the findings indicated that the water and sanitation management team can increase the current fee of GH¢ 5.00/1 m³ (≈US$ 0.87) by increasing beneficiaries charge for a bucket of water from GH¢ 0.10p (≈US$ 0.017) to GH¢ 0.21p (≈US$ 0.036) for better services within the community. Importantly, the additional charge should take into consideration income and education which were noted to significantly influence the beneficiary's amount-to-pay decision for better services in the community-managed water supply system.