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The purpose of this paper is to investigate if the volatility of stock prices in the days surrounding the Chapter 11 bankruptcy process predicts a firm’s likelihood to successfully restructure and emerge from bankruptcy.

The authors use a sample of Chapter 11 cases between 1980 and 2016 that have available stock price data surrounding the bankruptcy filing dates. Following Goyal and Wang (2013), the KMV–Merton model is utilized to estimate the probability that a firm successfully emerges from its restructuring process. In order to interpret the market’s assessment about a firm, the authors use the analogy of a European call option to derive the assessment of the firm’s prospects as the probability that it will emerge from bankruptcy. This estimated probability of emergence is compared to actual outcomes of bankruptcy cases and tested for significance using various regression techniques.

This study exploits the information found in stock prices surrounding the bankruptcy process and finds that volatility after, but not before, filing for bankruptcy significantly predicts a firm’s likelihood to emerge. In addition, the market-based probability of emergence has better predictive power on the recovery rates of unsecured creditors than measures based on financial statements.

Predictors of bankruptcy have been extensively studied by scholars over the decades, with early studies focusing on accounting-based measures and recent studies incorporating market-driven variables. However, in recent years, studies have begun to assess bankrupt firms’ ability to reorganize and successfully emerge from bankruptcy. This study contributes to the recent literature investigating market-based predictors of successful emergence.

Studies the introduction of individualised employment relations at the Bengalla Open Cut mining operation in the Hunter Valley coalfields of New South Wales, Australia. Describes and explains the “greenfield” strategy of the managing owner of the mine, the US multinational, the Peabody Group, and the reaction and counter‐strategy of the miners’ union, the Construction, Forestry, Mining and Energy Union (CFMEU). Argues that management’s greenfield strategy has provided some immediate benefits to the employer and rendered the CFMEU almost powerless to develop a delegate structure at the mine and bargain collectively with management. Yet the peculiar type of individualism, its justification and the CFMEU’s efforts to maintain a presence at the mine indicate that individualised employment relations may only be a transient phenomenon at the Bengalla mine.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

People with a history of homelessness often have complex needs and vulnerabilities which may affect their ability to manage future tenancies. If not given adequate support, there is a risk that their tenancies may break down causing a ‘revolving door’ of repeat homelessness. Having better information available at the point of re‐housing allows the receiving landlord to arrange appropriate housing‐related support from the start of the tenancy, reducing this risk. Local Authorities can assist by improving the way they gather, assess and share information about housing clients prior to their move on to permanent accommodation. One way of doing this is by using the Housing Corporation's Information Sharing Protocol. This article explains how the ISP was implemented in the City of Westminster.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

Chester Barnard's insistence that authority rests on the consent of the subordinate is difficult to reconcile with the opposing reality that superiors do have the last word. Resolution of this dilemma is unlikely to bo found by prolonging discussions of the legitimation of authority, which may have reached a point of diminishing returns. Co‐existence of coercion and consent may be more satisfactorily explained in terms of Simon's concept of the subordinate's zone of acceptance of authority and the resulting distinction between two different sets of decisional premises, one at the boundary of this zone and the other inside the zone. An addition to Simon's theory of the concept and analysis of compliance proposed by Etzioni gives further insight into the interdependency of superior and subordinate in the authority situation.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

Peabody supply advanced blade coater to West Germany. The Peabody Division of Sale Tilney Technology PLC have been awarded a contract by aluminium producers Alunorf, of Neuss, West Germany to supply an electrostatic oiling machine for their new No.6 slitting line. The machine, a blade coater, will apply an inhibiting/presslube oil on to aluminium strip.

In both elementary schools and elementary teacher education programs, social studies is marginalized while standards require increasingly more ambitious reasoning, reading, and writing in social studies than has historically been documented in American elementary schools. The purpose of this paper is to explain the challenges that elementary social studies teacher educators face in preparing elementary school teachers to facilitate the kind of ambitious social studies envisioned in the NCSS’s C3 Framework and advocate an approach to successfully address these challenges.

This paper articulates a targeted and ambitious approach to elementary social studies teacher education. The authors describe five recommendations from the teacher education literature for supporting preservice teachers in learning disciplinary-oriented social studies teaching, recommendations that guided the redesign of the social studies methods course. The authors then highlight key aspects of the redesigned methods course and demonstrate how the authors engaged the challenges inherent in the work of elementary social studies teacher education.

Although this paper is not arranged in such a way as to substantiate empirical findings, the purpose of the paper is to demonstrate an approach to elementary social studies education aligned with extant literature on preparing teachers to engage in reform teaching practices, specifically those disciplinary oriented practices suggested in NCSS’s C3 Framework. As such, the paper should be read as a perspective on practice.

The type of disciplinary-oriented approach described here is increasingly under investigation in secondary teacher education research and similar approaches are under investigation in elementary math and science education research. To the authors’ knowledge, the approach is novel in elementary social studies education. Furthermore, the authors believe it offers a direction for researchers interested in gaps in the literature related to practice based teacher education and disciplinary-oriented social studies teacher education.

The approach described here offers specific guidance and resources for teacher educators who are struggling with the challenges of the contemporary social studies education landscape and/or who wish to focus methods courses in disciplinary ways.

Research in social studied education has demonstrated that when students are exposed to disciplinary practices in social studies, their literacy skills improve and they learn analytical skills that support their development as citizens (consumption of media, participation in public discourse, ability to discern arguments).

As noted above, the approach described here is novel in elementary social studies education. Combining a disciplinary approach with a practice-based frame in elementary social studies represents an opportunity for empirical research and offers new approaches to the practice of teacher education and early career professional development.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.