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This issue is a selected bibliography covering the subject of leadership.

Graduate students of the University of New England (U.N.E.) during the period 1970–1984 wrote one hundred dissertations on morale in a wide variety of educational institutions. The Staff Morale Questionnaire (S.M.Q.) developed and progressively refined at U.N.E. was extensively used in these and other studies in Australia. The project's greatest value lay in the way it enabled external (i.e. off‐campus) students to develop their academic critical abilities in a guided research effort, and in the ripple effect which has enabled numerous administrators in Australian schools to gain some sensitisation to and understanding of the importance of organisational morale.

THE article which we publish from the pen of Mr. L. Stanley Jast is the first of many which we hope will come from his pen, now that he has release from regular library duties. Anything that Mr. Jast has to say is said with originality even if the subject is not original; his quality has always been to give an independent and novel twist to almost everything he touches. We think our readers will find this to be so when he touches the important question of “The Library and Leisure.”

The body of literature in the field now commonly known as the “quality of working life” (QWL) has grown steadily over a period in which the industrialised nations have increasingly come to question the role and status of human beings in the modern technological environment. In recent years concern with the nature of work, its impact upon people, and their attitudes towards it, seem to have sharpened. Investigation of, and experimentation with, the qualitative aspects of working life—its ability to confer self‐fulfilment directly, for example, as opposed to being a means of acquiring goods—has gained momentum under the influence of a unique set of economic, social, political and technological factors. The outpouring of books, reports and articles from a wide variety of sources has, not surprisingly, grown apace.

Current issues of Publishers' Weekly are reporting serious shortages of paper, binders board, cloth, and other essential book manufacturing materials. Let us assure you these shortages are very real and quite severe.

OWING to the comparatively early date in the year of the Library Association Conference, this number of THE LIBRARY WORLD is published so that it may be in the hands of our readers before it begins. The official programme is not in the hands of members at the time we write, but the circumstances are such this year that delay has been inevitable. We have dwelt already on the good fortune we enjoy in going to the beautiful West‐Country Spa. At this time of year it is at its best, and, if the weather is more genial than this weather‐chequered year gives us reason to expect, the Conference should be memorable on that account alone. The Conference has always been the focus of library friendships, and this idea, now that the Association is so large, should be developed. To be a member is to be one of a freemasonry of librarians, pledged to help and forward the work of one another. It is not in the conference rooms alone, where we listen, not always completely awake, to papers not always eloquent or cleverly read, that we gain most, although no one would discount these; it is in the hotels and boarding houses and restaurants, over dinner tables and in the easy chairs of the lounges, that we draw out really useful business information. In short, shop is the subject‐matter of conference conversation, and only misanthropic curmudgeons think otherwise.

An attempt is made to relate a morale model developed by Stogdill to the three factors identified in 1972 by Smith, Bonnett and Smith and recently confirmed by Williams and Lane. Morale is perceived as being at least a three‐dimensional group output which, like productivity, contributes to individual inputs, expectations, interactions and performance. It is suggested that the intervening variables of leadership, purpose, task, and role perceptions may cause changes in output without any change in individual inputs at a given time. Morale surveys are pertinent to a specific place and specific time: they do not readily lend themselves to prediction.

This paper reports on the construct validity of an instrument initially developed to measure five dimensions of morale among Australian teachers. Using factor analysis, the authors confirm earlier findings that this instrument (the Staff Morale Questionnaire) taps only three dimensions—cohesive pride, leadership synergy, and personal challenge. The dimensional structure appears also to be stable across different samples of teachers.

HARROGATE will be notable as the venue of the Conference in one or two ways that distinctive. The Association Year is now to begin on January 1st and not in September as heretofore; and, in consequence, there will be no election of president or of new council until the end of the year. The Association's annual election is to take place in November, and the advantages of this arrangement must be apparent to everyone who considers the matter. Until now the nominations have been sent out at a time when members have been scattered to all parts of the country on holiday, and committees of the Council have been elected often without the full consideration that could be given in the more suitable winter time. In the circumstances, at Harrogate the Chair will still be occupied by Sir Henry Miers, who has won from all librarians and those interested in libraries a fuller measure of admiration, if that were possible, than he possessed before he undertook the presidency. There will be no presidential address in the ordinary sense, although Sir Henry Miers will make a speech in the nature of an address from the Chair at one of the meetings. What is usually understood by the presidential address will be an inaugural address which it is hoped will be given by Lord Irwin. The new arrangement must bring about a new state of affairs in regard to the inaugural addresses. We take it that in future there will be what will be called a presidential address at the Annual Meeting nine months after the President takes office. He will certainly then be in the position to review the facts of his year with some knowledge of events; he may chronicle as well as prophesy.

Evidence reported by Geczy, Minton and Schrand (1997) showed that foreign exchange risk had a significant influence on the use of currency derivatives but that interest cover and financial leverage did not. In this study, we suggest that the reason why foreign exchange risk was significant but interest cover and financial leverage were not significant in the evidence was because currency derivatives were used to measure the dependent variable. We verify the validity of this suggestion by testing the influence of interest cover and financial leverage on the use of interest rate derivatives. Our sample comprises 140 firms in the UK, 48 of which use interest rate derivatives. Evidence observed shows that interest cover and financial leverage have a significant influence on the use of interest rate derivatives and that foreign exchange risk does not. We also compare the previous evidence referred to above with our results to determine whether there is a difference between the factors that motivate firms to use currency derivatives or interest rate derivatives. The result of the comparison indicates that dependence on overseas product and capital markets, tax, institutional shareholding and economies of scale are the factors that motivate firms to use currency derivatives. The result also indicates that high interest cover (i.e. interest/profit before interest and tax)or total debt ratio, economies of scale and directors’ shareholding are the factors that motivate firms to use interest rate derivatives.