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The purpose of this paper is to investigate the effect that a regime of mandatory audit firm rotation would have on audit quality.

Using two measures of audit quality, being the propensity to issue a going‐concern report and the level of discretionary accruals, the paper examines the switching patterns of clients in their current voluntary switching capacity, and the levels of audit quality.

The main finding is that audit quality increases with audit firm tenure, when proxied by the propensity to issue a going‐concern opinion, and is unaffected when proxied by the level of discretionary expenses. Given the additional costs associated with switching auditors, it is concluded that there are minimal, if any, benefits of mandatory audit firm rotation.

A limitation of this study is that only actual audit quality is examined. While the results suggest that actual audit quality is associated with the length of audit tenure, the perception of audit quality is not addressed, which may increase with audit firm rotation.

The results go against the move towards mandatory audit firm rotation, and suggest that other initiatives may need to be considered to address concerns about auditor independence and audit quality.

THE occasional moving of stock in open‐shelf libraries creates a sense of novelty in the reader. We experienced this recently in entering a library familiar to us where we found the Literature section had been moved and reduced in order to make space for the increase in the Applied Arts class. Further the librarian declared that there was no excessive demand for much of modern poetry, but although the library has the poems of T. S. Eliot in several copies, none was on the shelves or at the moment available. One wonders if poetry that is “modern” has been read by the majority in the past half‐century; it is an art form, often lacking substance and therefore caviare to the ordinary reader. The poets of today with such exceptions as Walter de la Mare and Alfred Noyes, neither of whom is young, have not increased their chances by their deliberate or unconscious obscurity. Even the said‐to‐be most influential of the modern, T. S. Eliot, in such a work as Ash Wednesday, topical this month of course, is completely unintelligible, in spite of the almost divine music of some of its lines, to many quite intelligent and habitual readers. Our librarian declared that readers remain for Coleridge, Keats, Shelley, Tennyson, Browning and even for Longfellow, in short for the real classics. This conclusion is borne out by the examination of a day's borrowings a year ago at Manchester. “Modern poetry,” its Report tells us, “seems to be departing from the range of the general reader into some esoteric mystery of its own,” and while the older classics, Browning, Chaucer, Donne and Tennyson were borrowed to the extent of four copies each, other poets were less in demand. Altogether 21 works of individual poets and 16 anthologies went out that day. A small array but, if continued through the year, it meant 11,100 works which are not a negligible number.

Based on the proceedings of a conference organised by the National Bureau of Economic Research, Chicago, 1999. The Editors demonstrate, through contributions from business historians and economists, that “advanced research” has superceded the neo‐classical theory of the firm.

Looks at the development of mail order trading in the UK and the USA, showing that there are substantial differences. Uses tables to give emphasis to the growth of UK mail order and follows this up with a similar study of the USA. Confirms that it is difficult to forecast the future of total sales through the medium of mail order, that it is unlikely that it will not pick up relative share, but that its growth rate will probably slow down. Sums up that there is certainly room for expansion in this market.

In a recent reference to changes brought about by the local government reorganisation of 1974, we criticised some of the names given to the new areas. Some of these name changes have made difficulties for those who follow from afar the doings of local authorities, as well as raising the ire of local people. Local names, however, are not the only casualty. The creation of new and larger governmental organisations rarely, if ever, results in economy and as anticipated, it was not long before the new local authorities were being directed to embrace financial stringency and all that it incurs. One such other casualty has been the loss of so many of the annual reports of local authority departments, very few now arriving at BFJ offices. In every case, the reason has been the same—severe restrictions on spending. Not that this was not necessary in many fields, but in respect of annual reports, we are convinced it was false economy. For so many of the reports, it was our pleasure to review them in the pages of BFJ. A prominent Labour politician was once heard to refer to them as “hard and dry reports for hard and dry officials”. It all depends probably on what you are looking for in them. Statistics there must be but most enforcement officers and public analysts, endeavour to keep these to the minimum, the general impression being that these are “dry”. If you are looking for trends, for comparison of the year under review with preceding years and then for comparing the results reported in one part of the country with another, where the population, eating habits, consumer reactions may be different, the tables of statistics are highly important.

Securing the managerial and executive talent that organizations need is a hot topic in the contemporary business community, but it is also an old challenge with a long and varied history. Contemporary observers are typically surprised to discover first how much the practices from the 1920s look like those that are dominate in the more innovative industries a century later and second how much more sophisticated the plans and systems for managing talent in corporations were in the 1950s than now. The research community interested in human resources often sees the 1950s practices as something like a dominant paradigm; they have in fact already been in sharp decline for almost a generation. For researchers and instructors interested in the practices of “talent management” at the managerial and executive level considered broadly – including subtopics like management development, career planning, succession planning, etc. – it is important to see the roots of contemporary practices and how they have and are changing over time as doing so reinforces the basic notion from contingency theory: practices respond to changes in context. The important aspects of context that drove changes in the design and execution of managerial careers over time has to do with the structure of corporations and how they responded to their competitive environment. The fact that changing business needs led to different corporate structures, business models, and, in turn, different approaches for managing the leaders of corporations also gives us perhaps the best guidance as to where practices in these areas will be in the future. For researchers, starting with this historical perspective is also the best way to develop a macro perspective on the more micro practices and outcomes associated with these talent management questions.

Purpose – This chapter traces the creation of a market for strategy by management consulting firms during the second half of the twentieth century in order to demonstrate their impact in shaping debates in the subject and demand for their services by corporate executives.

Design/methodology/approach – Using historical analysis, the chapter draws on institutional theory, including institutional isomorphism. It uses both primary and secondary data from the leading consulting firms to describe how consultants shifted from offering advice on organizational structure to corporate strategy and eventually to corporate legitimacy as a result of the changing economic and regulatory environment of the time.

Findings/originality/value – This study provides a historical context for the emergence of corporate and competitive strategy as an institutional practice in both the United States and around the world, and provides insights into how important this history can be in understanding the debates among consultants and academics during strategy's emergence as an academic subject and practical application.

Historically black colleges and universities (HBCUs) are among the least empirically examined institutional cohorts in American higher education. The purpose of this paper is to synthesize extant research on the historical, public, and social realities related to HBCU institutional strength and survival. Attention is given to the manifestation of race-neutral ideology in public sector in the aftermath of the election of the nation’s first African American president – Barack Obama.

A bricolage of policy case study, meta-analysis, and critical race theory.

Highlight current perceptions on the disparate impact of federal policy on institutional sustainability and the issue of representation in presidential cabinet appointments incident to HBCUs.

This paper provides a useful resource for educators, policymakers, and researchers.

Although the topic of span of control (SOC) has been discussed in detail in management literature and education, less focus has been placed on the decline research since the 1970s and, thus, the future relevance of the concept. By providing a historical overview of the literature on SOC through the work of key management scholars, this paper aims to explain why the literatures’ coverage of the topic has been significantly diminished in recent decades and offers suggestions as to why further research on the topic is needed.

The authors provide a historical literature review and analysis on the decline of SOC as a construct of interest.

The findings of the paper include a brief analysis of SOC. The concept was a very strong concept that declined as management became more scientific, rejecting classical management theory. This rejection occurred because SOC was impacted by multiple factors making it impossible to effectively study, making it imprecise. Likewise, SOC is too applied and lacked theoretical relevance. However, SOC still has value, especially when paired with a theory such as leader-member-exchange (LMX).

The authors argue that SOC is still relevant today and management scholars should align its study with its practice in modern organizational structures. However, its focus needs to change and be added to other theories such as LMX.

Three major US corporations have joined forces to establish a new videotex venture. The companies involved are CBS, IBM and retailers Sears Roebuck. The partners have not yet outlined the type of service they will be offering, but have said that it will be aimed at households with home and personal computers. It will be available to a variety of advertisers, retailers, publishers and Financial services providers.