List of contributors. Conditional measures of performance and persistence for pension funds (J.A. Christopherson, W.E. Ferson and D.A. Glassman). Creating and destroying value: spin-offs of prior acquisitions (J.W. Allen et al.). Solving an empirical puzzle in the capital asset pricing model (J. Leusner, J.D. Akhavien and P.A.V.B. Swamy). Finite horizons and the consumption capital asset pricing model (P. Evans, I. Hasan). Mutual funds and asset pricing models in a finite economy (J.S. Ang, Tsong-Yue Lai). Macroforecasting accuracy and gains from stock market timing (Kie Ann Wong, Chi-Keung Woo and Richard Yan-Ki Ho). The effect of seasoned equity offerings on stock prices: a case of diversification versus growth opportunities (S. Nassiripouret al.). Tax uncertainty and equity risk: some empirical evidence (R.G. Stoutm R.A.K. Cox). Beta changes around stock distributions: an extension (T.W. Foster III, E. Scribner). Common stochastic trends in the term structure of interest rate swaps (S.V. Jayanti, S. Tuluca and A.K. Reichert). An empirical analysis of gap management and net interest margin for the U.S. commercial banks (Van Son Lai, M. Kabir Hassan). The interdependency of firms' financing choices and investment decisions: some Canadian evidence (B.B. Francis).