Using the Heckscher-Ohlin-Vanek model of trade, it is shown that a country is revealed to be relatively well endowed in capital compared with labor if and only if one of the following three conditions holds, where K"x, K"m, L"x, L"m, K"c, L"c are capital and labor embodied in exports, imports, and consumption: (a) K"x - K"m > 0, L"x - L"m < 0; (b) K"x - K"m > 0, L"x - L"m > 0, (K"x - K"m)/(L"x - L"m) > K"c/L"c; (c) K"x - K"m < 0, L"x - L"m < 0, (K"x - K"m)/(L"x - L"m) < K"c/L"c. Leontief's data for the United States in 1947 satisfy b, and the United States is actually revealed by trade to be capital abundant. The comparison by Leontief of K"x/L"x with K"m/L"m is shown to be theoretically inappropriate.

Reviews the book "Maintenance Planning and Control," by James H. Bullock.

Reviews the book "The Impact of Regulations Upon Accounting Theory," edited by Barbara D. Merino.

Reviews the book "Assessing the Economic Impact of FASB No. 8," by John K. Shank, Jesse F. Dillard and Richard J. Murdock.

I. FINANCIAL THEORY. 1. Introduction to Capital Markets, Consumption and Investment. 2. Investment Decisions: The Certainty Case. 3. Theory of Choice Under Uncertainty: Utility Theory. 4. State-Preference Theory. 5. Objects of Choice. 6. Market Equilibrium: CAPM and APT. 7. Pricing Contingent Claims: Option Price Theory and Evidence. 8. Futures Contracts and Markets - Term Structure - Cox, Ingersoll, Ross. 9. Multiperiod Aspects of Financial Theory - Real Options - Investment. 10. Efficient Capital Markets: Theory. 11. Efficient Capital Market: Evidence. 12. Information Asymmetry: Agency Cost Theory and Signaling. II. CORPORATE POLICY. 13. The Role of the CFO and Performance Measurement. 14. Valuation and Tax Policy. 15. Capital Structure. 16. Dividend Policy. 17. Applied Issues in Corporate Finance. 18. External Investment Decisions. 19. International Finance: Theory and Evidence. 20. Open-Ended Issues for Research.

This study investigates whether the market-determined systematic risk of the companies that used leasing extensively was affected by ASR 147, the FASB's August, 1977, exposure draft on lessee accounting, and SFAS 13. Three samples of companies were used in the study: (1) companies which engaged in a lot of leasing, (2) companies which did very little leasing, and (3) a random sample of companies. The leasing sample and the non-leasing sample were matched by Standard Industrial Classification (SIC) code. There was no significant change in the systematic risk of the sample companies pre- and post-June, 1973. There was no significant change in the systematic risk of the three groups of companies pre- and post-August, 1975. This leads to the conclusion that the SEC's ASR 147 and the FASB's pronouncement had little effect on the market's assessment of systematic risk.