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STARING AT all of us in the preamble of the Library Association's Royal Charter is the statement that one of the objects of the association is ‘to unite all persons engaged or interested in library work for the purpose of promoting the best administration of libraries’. Now, whatever else we may have achieved over the last hundred years, we have conspicuously failed in this particular objective. How many experienced librarians with long years of library service behind them are there up and down the country, in government departments, universities and industrial firms, who seem to take a perverse sort of pride in not being members of the association, instead of being safely tucked up with the rest of us? Their number must be legion, and that in itself is an indication of our failure. And how often do they admit, a little shamefacedly, that they really see no relevance in what the Library Association is doing, in relation to their own individual circumstances? And then comes their clincher: besides, they will tell you slightly aggressively, ‘if I joined it would cost me £x’.

This paper provides empirical support for the introduction of cash flow disclosure regulation issued by Australasian accounting bodies, AASB and NZICA (formerly NZSA), between 1987 and 1992.

The empirical analysis uses a long window event study format on a panel of 5,368 firm‐year observations between 1996 and 2005.

The cash flow disclosures required in the regulation are associated with significant abnormal return responses. These effects are robust to the inclusion of other factors linked to abnormal returns such as movements in profitability, size and leverage. We also find support for the proposition that the cash flow effects are conditioned on the quality of the firm, as proxied by q. The market is better and more easily informed with the information required under the revised reporting regime.

The analysis would have been improved with better access to pre‐reform period data.

There is no other study on Australasian markets which looks at the value impacts of cash flow information in relation to this regulatory change. Such a study has also never been done on New Zealand companies.

In the academic field of business management, several potential theories were established during the last decades to explain companies' decisions, organizational behavior, consumer patterns, and internationalization, among others. As a result, businesses and scholars were able to analyze and decide based on theoretical approaches to explain the current conditions of the market. Secondary research was conducted to collect more than 36 management theories. This chapter aims to develop the most famous theories related to business applied in the international field. The novelty of this chapter relies on the compilation of recognized previous research studies from the academic literature and evidence in international business.

Did the expansion of democratic institutions play a role in determining central government spending behavior in the 19th and 20th centuries? The link between democracy and increased central government spending is well established for the post-Second World War period, but has never been explored during the first “wave of democracy” and its subsequent reversal, that is 1870–1938. The main contribution of this paper is the compilation of a dataset covering 24 countries over this period to begin to address this question. Utilizing various descriptive techniques, including panel data regressions, we explore correlations between central government spending and the institutional characteristics of regimes. We find that the data are consistent with the hypothesis that democracies have a broader need for legitimization than autocracies as various measures of democracy are associated with higher central government spending. Our results indicate that the extension of franchise had a slight positive impact on central government spending levels, as did a few of the other democracy variables. We also find that early liberal democracies spent less and monarchies more than other regimes; debt increases spending; and participation in the Gold Standard reduced government spending substantially.

P.J.A. Group. Chairman of the newly‐reorganised Pinchin Johnson group is Sir Alan H. Wilson, chairman‐elect of Courtaulds. A former maths lecturer and researcher into metals and semiconductors, he switched during the war to radio communications and nuclear physics, and in 1945 joined the board of Courtaulds Ltd., who took over the P.J.A. group in 1960.

There is an absence of research examining job embeddedness in SMEs. Results of job embeddedness studies may not apply to SMEs, because the process of managing a SME differs from that of the large firm. The purpose of this paper is to examine relationships between on-the-job embeddedness, as well as each of its sub-dimensions, and turnover intentions; and group cohesion, on-the-job embeddedness and turnover intentions.

Data were collected from 147 employees in SMEs located in Perth, Western Australia and 350 employees from SMEs operating in four business centres in South Africa. After invariance testing, data from the two countries were combined to increase statistical power of the analysis.

On-the-job embeddedness and each sub-dimension were negatively related to turnover intentions. Group cohesion was positively related to composite on-the-job embeddedness. Findings suggest that while group cohesion on its own does not reduce turnover intentions, it does contribute to development of on-the-job embeddedness that, in turn, reduces turnover intentions.

Future research should control for the effects of external influences on turnover intentions. Findings imply that managerial actions related to antecedents of group cohesion could foster the on-the-job embeddedness of employees.

This study is perhaps the first that tests the operation of on-the-job embeddedness in SMEs located in two countries. The conceptual arguments for links between each of the sub-dimensions of on-the-job embeddedness and turnover intentions are based on distinctive characteristics of SMEs and can serve as a theoretical foundation for future research on embeddedness in SMEs.

The purpose of this paper is to explore relationships between organisation embeddedness and life satisfaction, and community embeddedness and life satisfaction. The study also examined relationships between each sub-dimension of organisation embeddedness and community embeddedness and life satisfaction. These sub-dimensions are “links”, “fit” and “sacrifice”.

Data were collected from 549 employees in organisations located in four major business centres in South Africa. The data were analysed using structural equation modelling.

Both organisation embeddedness and community embeddedness were positively related to life satisfaction. Regarding the sub-dimensions of organisation embeddedness, only organisation fit and sacrifice were positively related to life satisfaction. As regards the sub-dimensions of community embeddedness, only community fit was positively related to life satisfaction.

Adopting practices which embed employees in the organisation and communities where they live is potentially beneficial for both organisations and employee well-being.

The bulk of research on job embeddedness (JE) and work-related outcomes has focussed on benefits for the organisation. The effects of embeddedness on employee well-being have been largely overlooked. The current study is an attempt to redress this imbalance in JE research.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).