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The purpose of this paper is to alert the European high-yield market to several regulatory developments relating to the adoption of markets in financial instruments directive (MiFID) II.

Reviews regulatory developments in connection with the MiFID II adoption and implementation, identifies several practical implications for the high-yield market professionals and suggests certain modifications in the banks’ internal protocols and practices that may be required as a result.

When the provisions of MiFID II are applied on January 3, 2018, they may have a dramatic impact on global financial markets, including a number of practical implications for the high-yield bond market. The burden of implementing MiFID II will be primarily on banks and brokers with minimal impact on the high-yield issuers.

Practical guidance from experienced high yield, securities and financial services lawyers.

This paper is about advanced library information systems in Russia. The urgent need is obvious in Russia for library systems based on open standards and Internet technology, and for integrating library systems in common library information space. The Regional University and Science Library Advanced Network in the north‐west of Russia (RUSLANet) Project is an initiative of St Petersburg State Technical University, aimed at joining the collections of university libraries and providing access to them via the Internet. The paper discusses briefly the concept of the RUSLANet Project, ways of implementing it, its position today, and plans for the near future.

The article covers the five‐year history of the implementation of Z39.50‐type products in Russia. All existing projects are mentioned in the order of their development. Since the authors are from RUSLANet, that project is described in greater detail. The architecture of a distributed library system, as well as its basic components, are presented, and the place and role of Z39.50 facilities in Russian libraries are highlighted. The obstacles the Russian library community faces in moving to a networked environment are covered. The need to develop uniquely Russian Z39.50 databases grew from specific document‐ processing features within the libraries. Some prospects for future development and use of Z39.50 environment in Russian libraries are also given.

The purpose of this paper is to demonstrate the current situation and history of cooperation and resource sharing in Russian libraries. The resources and services provided cooperatively are described.

A narrative combining description, surveys, analysis and evaluation.

Fundamental changes have occurred in Russian libraries as a result of the development of consortia services development, particularly in resource sharing.

Digital libraries and databases subscriptions were not within the scope of this study.

The paper demonstrates the efforts of many libraries cooperatively producing services at a national level.

One of the few articles to describe the current state of resource sharing and consortia development in Russia.

The aim of this paper is to propose extended intellectual capital (IC) indicators. The study shows that the essence of IC in the context of value is residual income, its growth rate and growth rate of equity taken together. It allows creating IC measures (modified residual income and economic value added of equity) that contain these components. The study investigates the relationship between IC and market value for Russian public firms.

The authors propose modified residual income and modified economic value added of equity as IC metrics. This study tests a relationship between market value and IC to investigate suggested metrics. Static and dynamic panel data models are used. 25 companies from the MOEX Russia Index were included in the study. The study covers the period from 2014 to 2018.

The findings show a strong positive relationship between market value and IC. The results confirm that extended IC measures have a stronger connection to market value.

Firstly, these results benefit managers. They can use proposed extended IC measures as targets for the company when planning business strategy and generating business environment. Secondly, suggested IC measures can help shareholders and investors achieve their long-term goal – wealth maximization.

The value of this article is the development of IC theory and valuation. The proposed measures differ in the way that they consider the growth rates – the main determinants of value along with efficiency.