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Summarizes the regulatory environment and practices for providing a property company with a public listing. Furthermore, reports evidence of the direct and implied costs of undertaking a property initial public offering. The results indicate that choice of issue method and timing are key decisions to be made by property company financial managers.

This paper uses a multifactor logit model to analyze the aftermarket performance of randomly chosen IPO's in hot and cold markets. The theories of risk aversion and utility maximization, in conjunction with the paper's empirical results, suggest that cold market investors are more risk averse than are hot market investors.

Market-based value style equity portfolios do not systematically outperform market-based growth style equity portfolios, despite considerable academic research that suggests that they should. This is an unresolved puzzle in the long lineage of work on this topic. The purpose of this paper is to question whether portfolio constituency rules employed by active growth and value equity investment managers might explain this puzzle.

The authors use the traditional research design and methodology of Fama and French (1993) to ensure comparability of results to prior research. Further, the authors adapt the return decomposition method of Keim (1999) to specifically answer the question in the research.

The authors find that restrictive constituency rules that omit the smallest, most illiquid stocks improve the performance of both value and growth stock portfolios. However, the authors find the impact of constituency rule restrictions on portfolio returns to be asymmetric with respect to value and growth in the small-cap investment space. Growth portfolios benefit from these changes more than value portfolios. Consistent with prior research, the authors find that value and growth style portfolios constructed from more liquid equities to be void of a statistically significant value-minus-growth return premium. The authors suggest these results might go a long way in explaining why market-based growth fund returns generally equal those of their value fund counterparts over time.

The research question central to the research, the value equity premium, has been investigated by researchers around the world over the last 20 years. The 20 year lineage of global published research on the value equity premium does, however, contain several unresolved questions. The paper specifically asks why the premium, long observed in global equity market returns, does not appear in market-based passive or active equity portfolios. This puzzle exists at the heart of the origins of the return premium itself and has serious implications for investment practitioners. If the matter cannot be reconciled, then market participants might rightly view the entire 20 year lineage of published research as irrelevant. The paper is one of few that has now extended the long lineage of research to its application in real markets.

Examines the history of branded characters in children’s marketing; these go back to the Michelin Man in 1898, and include the Robinson Golly and the Jolly Green Giant. Shows how reliance on these characters diminished with television advertising, which allowed animated stories to carry the brand, rather than mere static poster and press characters; some of the characters have now been pensioned off. Outlines three stages of child development related to brand characters, followed by the different form of commercial character usage: licensed product (the character is the brand), brand spokespeople like Tony the Tiger, characters associated with the brand over time (like the Dulux dog), borrowed equity using entertainment characters, and pack design with character visuals. Warns that increased sophistication of children with respect to brands and advertising means that character brands can alienate older children if they are perceived as too childlike.

Current issues of Publishers' Weekly are reporting serious shortages of paper, binders board, cloth, and other essential book manufacturing materials. Let us assure you these shortages are very real and quite severe.

Avant‐propos sous les auspices de l'Institut international de Coopération intellectuelle, paraissait en 1934 le t. I, consacré à l'Europe, du Guide international des Archives. Le questionnaire envoyé à tous les États européens comportait sous les points 4 et 6 les questions suivantes: ‘Existe‐t‐il un guide général pour les diverses catégories d'Archives ou des guides particuliers pour l'une ou l'autre d'entre elles?’ et ‘Existe‐t‐il des catalogues imprimés, des publications tant officielles que privées, susceptibles de constituer un instrument complet de référence pour tout ou partie importante des fonds d'archives?’ Les réponses des divers pays à ces questions, malgré leur caractère très inégal, ont fait du Guide international un bon instrument d'information générale sur les Archives. Malheureusement les circonstances ont empêché la publication du volume consacré aux États non européens, tandis que le temps qui s'écoulait tendait à rendre périmés les renseignements fournis sur les Archives européennes.