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Article
Publication date: 30 August 2013

Winifred D. Scott and Willie E. Gist

The purpose of this study is to explore the effect of industry specialization on the absorption and competitive pricing (or lack thereof) of audits of large Andersen clients (S&P…

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Abstract

Purpose

The purpose of this study is to explore the effect of industry specialization on the absorption and competitive pricing (or lack thereof) of audits of large Andersen clients (S&P 1500 companies) who switched to the remaining Big 4 international accounting firms in 2002 due to the demise of Arthur Andersen LLP (Andersen). Did the audit clients pay a premium or discount in audit fees to their new auditor who specialized in their industry?

Design/methodology/approach

Ordinary least squares regression is used to test hypothesis of a positive association between industry specialization and audit fees charged to former Andersen's audit clients in 2002 following Andersen's demise. This study provides more control over size effects by design. Test variables are constructed based on national market share of audit fees within an industry. Logistic regression is used to examine the likelihood of choosing new auditor that is an industry specialist.

Findings

Results support hypothesis, consistent with auditor differentiation explanation. Proportion of clients that had engaged an industry specialist in 2001 increased from 38 percent (84 clients) to 48 percent (105 clients) in 2002. No evidence of price‐gouging in 2002 although clients who aligned with industry specialist paid a 23.2 percent premium in audit fees. Large clients lost bargaining power to negotiate lower fees. Findings are robust to the inclusion of additional alternative measures of company size.

Research limitations/implications

Results of logistic regression analysis imply that large audit clients with former auditor of tarnished reputation, long auditor tenure and high leverage are more likely to switch to an industry specialist to possibly signal audit/financial reporting quality. Large sample companies may limit the ability to generalize findings to smaller companies.

Practical implications

Mandatory audit firm rotation (currently being debated in the profession) will have costly effect on the pricing of Big 4 audits for companies wanting to signal audit and financial reporting quality to affect market perception, and large companies would likely lose their ability to bargain for lower audit fees.

Originality/value

The paper focus on the alignment of Andersen clients and impact on audit fees with Big 4 industry specialists resulting from the sudden increase in audit market concentration. Prior to Andersen's collapse, evidence on the association of audit fees premium and industry specialists was mixed, and little attention has been given to the influence of auditor industry specialization on both audit fees and alignment of former Andersen clients with a Big 4 specialist. This paper fills that void.

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Article
Publication date: 1 February 1974

Frances Neel Cheney

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are…

411

Abstract

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

Details

Reference Services Review, vol. 2 no. 2
Type: Research Article
ISSN: 0090-7324

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Article
Publication date: 1 January 1954

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

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Abstract

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

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Aslib Proceedings, vol. 6 no. 1
Type: Research Article
ISSN: 0001-253X

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Article
Publication date: 1 February 1909

THE following abstract in tabular form has been prepared by some junior members of the Islington Public Libraries staff for the use of candidates in Section V. of the Library…

42

Abstract

THE following abstract in tabular form has been prepared by some junior members of the Islington Public Libraries staff for the use of candidates in Section V. of the Library Association Examination. It does not pretend to do more than set out the chief provisions of the various Public Libraries Acts in a clear manner, as an aid to the memorization of the principal powers and duties conferred upon library authorities. The whole of the Acts can be purchased through any bookseller for 1s. 4½d., and every student of librarianship is advised to procure them.

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New Library World, vol. 11 no. 8
Type: Research Article
ISSN: 0307-4803

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Article
Publication date: 1 August 1927

HIS holidays over, before the individual and strenuous winter work of his library begins, the wise librarian concentrates for a few weeks on the Annual Meeting of the Library…

53

Abstract

HIS holidays over, before the individual and strenuous winter work of his library begins, the wise librarian concentrates for a few weeks on the Annual Meeting of the Library Association. This year the event is of unusual character and of great interest. Fifty years of public service on the part of devoted workers are to be commemorated, and there could be no more fitting place for the commemoration than Edinburgh. It is a special meeting, too, in that for the first time for many years the Library Association gathering will take a really international complexion. If some too exacting critics are forward to say that we have invited a very large number of foreign guests to come to hear themselves talk, we may reply that we want to hear them. There is a higher significance in the occasion than may appear on the surface—for an effort is to be made in the direction of international co‐operation. In spite of the excellent work of the various international schools, we are still insular. Now that the seas are open and a trip to America costs little more than one to (say) Italy, we hope that the way grows clearer to an almost universal co‐working amongst libraries. It is overdue. May our overseas guests find a real atmosphere of welcome, hospitality and friendship amongst us this memorable September!

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New Library World, vol. 30 no. 2
Type: Research Article
ISSN: 0307-4803

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Article
Publication date: 1 July 1925

We issue a double Souvenir number of The Library World in connection with the Library Association Conference at Birmingham, in which we have pleasure in including a special…

47

Abstract

We issue a double Souvenir number of The Library World in connection with the Library Association Conference at Birmingham, in which we have pleasure in including a special article, “Libraries in Birmingham,” by Mr. Walter Powell, Chief Librarian of Birmingham Public Libraries. He has endeavoured to combine in it the subject of Special Library collections, and libraries other than the Municipal Libraries in the City. Another article entitled “Some Memories of Birmingham” is by Mr. Richard W. Mould, Chief Librarian and Curator of Southwark Public Libraries and Cuming Museum. We understand that a very full programme has been arranged for the Conference, and we have already published such details as are now available in our July number.

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New Library World, vol. 28 no. 2
Type: Research Article
ISSN: 0307-4803

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Article
Publication date: 1 April 1949

It has often been said that a great part of the strength of Aslib lies in the fact that it brings together those whose experience has been gained in many widely differing fields…

259

Abstract

It has often been said that a great part of the strength of Aslib lies in the fact that it brings together those whose experience has been gained in many widely differing fields but who have a common interest in the means by which information may be collected and disseminated to the greatest advantage. Lists of its members have, therefore, a more than ordinary value since they present, in miniature, a cross‐section of institutions and individuals who share this special interest.

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Aslib Proceedings, vol. 1 no. 4
Type: Research Article
ISSN: 0001-253X

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Article
Publication date: 1 July 1903

IT is evident from the numerous press cuttings which are reaching us, that we are once more afflicted with one of those periodical visitations of antagonism to Public Libraries…

86

Abstract

IT is evident from the numerous press cuttings which are reaching us, that we are once more afflicted with one of those periodical visitations of antagonism to Public Libraries, which occasionally assume epidemic form as the result of a succession of library opening ceremonies, or a rush of Carnegie gifts. Let a new library building be opened, or an old one celebrate its jubilee, or let Lord Avebury regale us with his statistics of crime‐diminution and Public Libraries, and immediately we have the same old, never‐ending flood of articles, papers and speeches to prove that Public Libraries are not what their original promoters intended, and that they simply exist for the purpose of circulating American “Penny Bloods.” We have had this same chorus, with variations, at regular intervals during the past twenty years, and it is amazing to find old‐established newspapers, and gentlemen of wide reading and knowledge, treating the theme as a novelty. One of the latest gladiators to enter the arena against Public Libraries, is Mr. J. Churton Collins, who contributes a forcible and able article, on “Free Libraries, their Functions and Opportunities,” to the Nineteenth Century for June, 1903. Were we not assured by its benevolent tone that Mr. Collins seeks only the betterment of Public Libraries, we should be very much disposed to resent some of the conclusions at which he has arrived, by accepting erroneous and misleading information. As a matter of fact, we heartily endorse most of Mr. Collins' ideas, though on very different grounds, and feel delighted to find in him an able exponent of what we have striven for five years to establish, namely, that Public Libraries will never be improved till they are better financed and better staffed.

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New Library World, vol. 6 no. 1
Type: Research Article
ISSN: 0307-4803

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Publication date: 26 September 2024

Michael Matthews, Thomas Kelemen, M. Ronald Buckley and Marshall Pattie

Patriotism is often described as the “love of country” that individuals display in the acclamation of their national community. Despite the prominence of this sentiment in various…

Abstract

Patriotism is often described as the “love of country” that individuals display in the acclamation of their national community. Despite the prominence of this sentiment in various societies around the world, organizational research on patriotism is largely absent. This omission is surprising because entrepreneurs, human resource (HR) divisions, and firms frequently embrace both patriotism and patriotic organizational practices. These procedures include (among other interventions) national symbol embracing, HR practices targeted toward military members and first responders, the adulation of patriots and celebration of patriotic events, and patriotic-oriented corporate social responsibility (CSR). Here, the authors argue that research on HR management and organization studies will likely be further enhanced with a deeper understanding of the national obligation that can spur employee productivity and loyalty. In an attempt to jumpstart the collective understanding of this phenomenon, the authors explore the antecedents of patriotic organizational practices, namely, the effects of founder orientation, employee dispersion, and firm strategy. It is suggested that HR practices such as these lead to a patriotic organizational image, which in turn impacts investor, customer, and employee responses. Notably, the effect of a patriotic organizational image on firm-related outcomes is largely contingent on how it fits with the patriotic views of other stakeholders, such as investors, customers, and employees. After outlining this model, the authors then present a thought experiment of how this model may appear in action. The authors then discuss ways the field can move forward in studying patriotism in HR management and organizational contexts by outlining several future directions that span multiple levels (i.e., micro and macro). Taken together, in this chapter, the authors introduce a conversation of something quite prevalent and largely unheeded – the patriotic organization.

Details

Research in Personnel and Human Resources Management
Type: Book
ISBN: 978-1-83797-889-2

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Article
Publication date: 1 August 1909

THIS scheme of exact classification has now been long enough upon trial to justify the publication of a few explanatory notes, adjustments, and revisions which may be useful to…

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Abstract

THIS scheme of exact classification has now been long enough upon trial to justify the publication of a few explanatory notes, adjustments, and revisions which may be useful to present and future users of the system. For an entirely new scheme, which to some extent broke fresh ground, its reception has been extremely kind and flattering, and although it has not escaped criticism, nothing has appeared which has been anything but reasonable and helpful. A surprising circumstance has been that, notwithstanding the very controversial nature of much of the subject, so few points of difference have appeared. These are all more or less directed against the mere placing of certain topics and do not to any extent reflect upon the theory or structure of the system as a whole. One mistake has been made, however, of a more important nature, but this must have arisen either through misapprehension or carelessness. It has been assumed that the Subject Classification claims to be thoroughly scientific, and that each class is arranged in a logical and evolutionary order, so as to modulate or merge naturally into its successor. Any modest claim which may have been made to an attempted logical order is invariably qualified by a statement in the “Introduction” to the effect that such perfect order is only to be expected to a very limited extent. On page eight it is stated that—“The departments of human knowledge are so numerous, their intersections so great, their changes so frequent, and their variety so confusing, that it is impossible to show that they proceed from one source or germ, or that they can be arranged so that each enquirer will find the complete literature of his special subject at one fixed place.” All through the tables and the introduction the same kind of limitation is insisted upon, and it can only be due to misunderstanding to say that I have made such a preposterous claim to sequential perfection. No librarian who has attempted to compile a system of exact classification would ever dream of claiming that he did more than get as near as possible to an ideal arrangement in accordance with his basal plan.

Details

New Library World, vol. 12 no. 2
Type: Research Article
ISSN: 0307-4803

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