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In his article “Diversifying Mergers and Risk: Some Empirical Tests”, Thompson (1983) modelled the change in the systematic risk of the acquiring firm before and after merger. We propose a modification to this method which considers the difference between the systematic risk of the merged firm and that predicted by capital market theory on the basis of the constituent firms' betas. Furthermore merger will probably lead to a change in the structure of the acquiring firm, both intrinsically and financially. Thus in order to remove any complications caused by debt restructuring of the combined firm after merger, we suggest that the analysis is carried out using ungeared or intrinsic betas. An empirical study which follows that of Thompson but implements the above modifications is performed, and conclusions are drawn which have implications for studies that have considered the benefits of merger to the acquiring and target firms.

In both the United States and Europe there has been a spectacular growth in the number and importance of management buy‐outs since the late 1970s. The typical characteristics of these deals differ somewhat on either side of the Atlantic in ways which are outlined below. However, in each environment the term “buy‐out” refers essentially to the transfer of ownership of the assets of an existing firm — which may itself be an independent entity or a wholly‐owned subsidiary or division — to a new and especially established group of equity holders which intends to keep at least some of those assets in their former use. In the US buy‐outs have often involved very large asset transfers, indeed multi‐billion dollar deals have been quite frequent. The transaction is typically financed by a limited subscription of equity from specialist venture capitalists and perhaps from the firm's management, together with a very large input of debt capital. The latter has often been in the form of high coupon (so called “junk”) bonds. The characteristically high ratio of debt to equity in buy‐out finance has given rise to their American description as leveraged buy‐outs.

It is now curious to recall that ten years ago management buy‐outs were infrequent and largely ignored by those not directly involved, (Arnfield et.al., 1981). During the subsequent decade a previously unrecognised oddity has become not merely commonplace but a major force in restructuring the private sector and in privatising public services. In 1989 there were over 500 recorded management buy‐outs (MBO's) and associated deals to a total value of £7.5 billion. In the same year these transactions accounted for 22% of all mergers and acquisitions by value and almost one third by volume. Furthermore, in the latter half of the 1980s the MBO spread to Europe and now appears poised to become a major instrument in dismantling the state industries of Eastern Europe.

ALL the auguries for the Bournemouth Conference appear to be good. Our local secretary, Mr. Charles Riddle, seems to have spared neither energy nor ability to render our second visit to the town, whose libraries he initiated and has controlled for thirty‐seven years, useful and enjoyable. There will not be quite so many social events as usual, but that is appropriate in the national circumstances. There will be enough of all sorts of meetings to supply what the President of the A.L.A. describes as “the calling which collects and organizes books and other printed matter for the use and benefit of mankind and which brings together the reader and the printed word in a vital relationship.” We hope the discussions will be thorough, but without those long auto‐biographical speeches which are meant for home newspapers, that readers will make time for seeing the exhibitions, and that Bournemouth will be a source of health and pleasure to all our readers who can be there.

Since the first Volume of this Bibliography there has been an explosion of literature in all the main areas of business. The researcher and librarian have to be able to uncover specific articles devoted to certain topics. This Bibliography is designed to help. Volume III, in addition to the annotated list of articles as the two previous volumes, contains further features to help the reader. Each entry within has been indexed according to the Fifth Edition of the SCIMP/SCAMP Thesaurus and thus provides a full subject index to facilitate rapid information retrieval. Each article has its own unique number and this is used in both the subject and author index. The first Volume of the Bibliography covered seven journals published by MCB University Press. This Volume now indexes 25 journals, indicating the greater depth, coverage and expansion of the subject areas concerned.

Since the seminal contributions of Chandler and Williamson, a substantial body of research in industrial organization has examined the performance benefits of the organizational innovation of divisionalization. While existing empirical work has, for the most part, utilized a static framework to analyse the performance effects of divisionalization, adopts a dynamic approach, thereby allowing the intertemporal nature of any such performance benefits to be examined. Presents results from the UK manufacturing industry; the model estimated uses a spline function to incorporate differing organizational regimes over time. The results obtained are less supportive of the benefits of divisionalization than certain of the earlier empirical studies; thus the evidence presented lends no support to the view that organizational change provides unambiguous performance benefits for the firm.

The current work builds on the dual process theory of habituation and sensitization to empirically investigate theory-based mechanisms through which social media use habit influences continued social media use intentions in the context of problematic social media use (SMU).

We build on the dual process theory of habituation and sensitization and test our model with structural equation modeling technique applied to survey-based data collected from 337 social media users.

Findings suggest that SMU Habit may increase user's perceived Habituation and directly reduce user's experienced SMU related Exhaustion. Furthermore, Habituation and SMU related Exhaustion are negatively associated in a nonlinear fashion. Also, SMU Habit may promote higher level of SMU Dependency through Sensitization. Increased level of SMU Dependency is associated with increased level of SMU related Exhaustion. Thus, SMU Habit simultaneously shapes two opposing forces driving continued use decisions.

The current work can serve as a basis for developing effective interventions especially given the increase in problematic uses of IS fostered by the development of technology use habits.

Although separate strands of research independently examined the role of “pull” forces such as SMU dependency and the role of “push” forces such as SMU related Exhaustion in influencing users' inclination toward future SMU, a unified theoretical framework considering the triad of SMU Habit, “pull” and “push” forces together is yet to be offered. Deploying Habituation–Sensitization theory will shed new light on dual mechanisms through which habit drives continued use decisions in SMU context. Thus, the current work can serve as a basis for developing effective interventions given the increase in problematic uses of IS.

WE complete in this issue the publication of the scries of articles by MR. JAMES E. THOMPSON of VULTEE AIRCRAFT on “Designing for Machinability”; for permission to republish which from the pages of AERO DIGEST we are greatly indebted to the Author and Editor, MR. GEORGE F. MCLAUGHLIN. We have never read anything so informative and instructive on this subject, the importance of which for rapid production it is impossible to overestimate, and our admiration for it has increased with each re‐perusal of it necessitated by the repeated re‐readings called for in the various stages of proof correcting prior to final publication. We should like to see MR. THOMPSON'S introductory paragraphs, which appeared on page 289 of our October 1941 issue, posted up in large letters in every detail‐design office and we feel that the best service we can do is to reprint them verbatim here.

The purpose of this paper is to re‐map the neglected phenomenon of organisational misbehaviour (misbehaviour) by reflecting the many approaches taken on this emergent field of study, and articulate a revised research agenda.

Both preceding and recent empirical and theoretical research papers are discussed and possible overlap and convergence of findings are examined. The discussions mainly surround studies from industrial sociology and organisational behaviour, yet studies from industrial relations and gender studies are also considered. From the re‐assessment, a revised map and research agenda for misbehaviour is produced.

More research should be directed towards humour and its uses in contemporary organisations, why managers break the rules, the internet as a tool and framework for defiant activities, informal and hidden employee identities as a framework for self‐organised misbehaviour, functional misbehaviour and informal strategies used by employees to survive work. Further work is required to unify the field and suggestions are made on how this may be achieved.

The paper is based on a re‐assessment of the extant literature and the findings reflect the broadly problematic matter of reconciling incongruous paradigms.

The paper puts forward a revised and updated map of organisational misbehaviour. It also offers insights which managers can use to deal with a broad range of misbehaviour conducted within and outwith the workplace.

The paper provides a new map that goes beyond previous articulations of misbehaviour. The revised research agenda attempts to guide future research on the subject of misbehaviour in a more balanced direction.

The fundamental change in accounting rules for equity-based compensation (EBC) instituted by SFAS 123, SFAS 123r, and IFRS 2 has allowed for new insights related to a variety of research questions. This paper discusses the empirical evidence generated in the wake of the new regulation and categorizes it into two broad streams. The first stream encompasses research on the changed use of EBC and the incentives provided. The second stream addresses how firms account for EBC, including the underreporting phenomenon and how it was affected by the mandatory recognition of EBC expenses. I discuss where research delivers unanimous findings versus contradictory results. Using these insights, I make recommendations for further research opportunities in the area of EBC.