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This study aims to examine the moderating effect of audit firm tenure on the association between corporate social responsibility (CSR) and firm value. Prior studies provide mixed results on this association, which may be due to differing theoretical expectations related to CSR and firm value. It is also possible that external stakeholders are unable to differentiate between positive and negative CSR investments, as CSR reports are generally not assured by independent third parties. Thus, the authors propose that audit firm tenure may be used by external stakeholders to evaluate CSR performance.

The authors use an ordinary least squares regression to examine the moderating effect of audit firm tenure on the relation between CSR and firm value after controlling for other determinants of firm value and various internal and external governance mechanisms documented in the literature. The sample consists of 15,707 firm-year observations from US firms during the sample period of 2000 to 2012. The authors measure CSR quality using rating scores from MSCI ESG STATS (formerly the KLD database), audit firm tenure as the number of years the incumbent auditor has served the client and firm value using Tobin’s Q.

The results indicate that CSR is positively associated with firm value when audit firm tenure is long but not when tenure is short. The results are robust to alternative measures of firm value, CSR performance scores, and individual CSR dimensions. The evidence supports the argument against mandatory audit firm rotation in the USA.

Future studies could examine a similar issue in alternative settings and/or look at cross-sectional variations among firms on the association between CSR and firm value by other auditor traits such as auditor industry specialization and big-name reputation. Additionally, as auditor alone is unable to ensure the quality of management disclosures and their accountability, future studies could examine the moderating effect of internal and other external governance mechanisms on the association between CSR and firm value, exploring when the signaling effect of auditor tenure on CSR reporting quality and its effect on firm value is most salient.

The findings are important to regulators and investors. The authors provide evidence that longer audit tenure serves as a signaling device for external investors with regard to the quality of a firm’s CSR performance. Hence, the study facilitates regulators’ cost-benefit analysis related to mandating audit firm rotation. The evidence suggests that mandating a term limit on auditor tenure may have the unintended consequence of eliminating a signaling effect of auditor tenure on the quality of CSR disclosures under information asymmetry. This supports the Public Company Oversight Board’s decision to forgo the requirement of mandatory audit firm rotation in the USA.

Prior literature presents mixed findings on the association between CSR performance and firm value based on a variety of underlying theories (economic, stakeholder and contingency theory). Literature on mandatory auditor rotation has concentrated on the auditor tenure effect on perceived and actual audit quality as reflected in earnings quality. Relying on agency theory, this study posits that auditor tenure serves as a signal for the quality of CSR activities in the absence of CSR assurance reporting as CSR quality can be difficult to evaluate. The authors provide evidence that audit tenure moderates the association between CSR activities and firm value and longer audit tenure makes it more likely that the CSR activities are associated with increased firm value.

Investigates the problems and pressures facing lone mothers in management and professional occupations. Qualitative data were gained from semi‐structured interviews with 20 lone mothers, and the sample also completed the Pressure Management Indicator questionnaire. The interviews revealed that the lone mothers experienced some of the problems and pressures previously reported by women in dual career couples, including difficulties with childcare, work overload and role conflict, but to a much greater degree. Finds also that the death of a partner, separation or divorce affects the career aspirations and career development of the women in the sample and that the lone mothers were less able to take advantage of job‐sharing and part‐time working because of greater financial pressures. The lone mothers reported higher levels of pressure from workload and the home/work balance than comparative normative groups. However, as stress moderating strategies they employed better use of problem‐focussed coping than other women and made more use of social support than other managers.

This study aims to explore how transformational leaders enhance public service employees’ growth satisfaction in the job and mitigate job stress and burnout, incorporating follower interpersonal communication satisfaction with the leader (IPCSL) as a mediator.

On the basis of the survey data collected from the Indian public service employees, regression analysis, bootstrapping and SOBEL test are used to test the proposed research model.

The findings highlighted a partial mediation of follower interpersonal communication satisfaction with leader between transformational leadership (TL) and public service employees’ growth satisfaction in the job. Although there was no significant direct effect of TL on job stress and burnout, the results underlined a significant indirect effect of follower IPCSL.

By examining the important role of follower IPCSL, this study unravels the precise intervening mechanism between TL and follower affective outcomes like growth satisfaction in job, job stress and burnout among public service employees.

THE PRAYERFUL UTTERANCE, ‘May we never want a friend in need, nor a bottle to give him,’ has been widely publicized on a poster celebrating a rare Scotch whisky. The man who originated that delectable expression, however, was Captain Edward Cuttle, the delightful old mariner in Dombey and Son, who spoke in riddles and made a practice of winnowing moral precepts from the good Book for the guidance and edification of his young friend and protege, Walter Gay.

Three examples are given of the work of Queen Alexandra College for the Blind in Birmingham. A Commercial Studies course which helps visually handicapped students to cope in a workplace environment is described. The students learn to use office machines and all students have three weeks′ work experience.

I RECEIVED a most unusual publication through the post the other day which may not strictly come within the scope of this column, since it won't answer any particular problem except that of where to go for your holidays. It's called The North: a feminist local history and holiday guide by Susan Evasdaughter and is one of a series of similar booklets that includes London, Home Counties, West Country, Wales, and Central England. The books are not intended to be comprehensive holiday guides listing the best places to stay, the most interesting walks etc, but rather set out by area some of the most important things of specific interest to women. Information ranges from ‘pre‐historic matriarchal times’ to present day feminist activities. There is information on women castle builders, famous lesbians, local women heroes, artists, queens and witches, suffragettes, politicians, discoverers etc. Where possible information is given about places for women to stay although there aren't many specifically for women. The quality of printing is fairly basic; I expect the booklets were produced on a shoestring, so don't expect tourist board glossies. However, a lot of work has obviously gone into them, each has a name index, and they would be useful additions not only for local studies collections but also for any libraries who have a community information section on women's studies. The booklets cost £1.00 from 47 Ladysmith Avenue, Newbury Park, Ilford, Essex.

The following reviews are intended to help take some of the mystery and terror out of selecting guides to edible fungi for the amateur. The books chosen for review are all in print; several have been available for seventy years. Mushrooming has been of interest to humans since the beginning of time. Lately, however, this interest has increased as more people become interested in all types of foraging. This increased interest is part of our national interest in the out‐of‐doors.