Published online by Cambridge University Press: 11 January 2016
We present results on the Watanabe–Yoshida conjecture for the Hilbert–Kunz multiplicity of a local ring of positive characteristic. By improving on a “volume estimate” giving a lower bound for Hilbert–Kunz multiplicity, we obtain the conjecture when the ring has either Hilbert–Samuel multiplicity less than or equal to 5 or dimension less than or equal to 6. For nonregular rings with fixed dimension, a new lower bound for the Hilbert–Kunz multiplicity is obtained.