WOMEN AS MANAGERS AND PARTNERS - CONTEXT-SPECIFIC PREDICTORS OF TURNOVER IN INTERNATIONAL PUBLIC ACCOUNTING FIRMS

Despite the controversy regarding ''glass ceiling'' effects for women and the specific concern expressed by large CPA firms about their inab ility to retain women in senior positions, there is little empirical e vidence regarding why women partners and managers leave public account ing. In this study we examine factors potentially associated with the actual turnover decisions for a large sample of auditors who were mana gers or partners in large CPA firms. Public accounting-specific latent variables are developed to capture four critical aspects that affect turnover in public accounting: (1) competitive environment, (2) work/n on-work obligations, (3) internal/external control and supervision, an d (4) litigation risk. Women differ fundamentally on the work/non-work obligations dimension. Women who leave the employ of an auditing firm are significantly less likely to be re-employed in public accounting compared to their male counterparts. Additionally, women who do remain in public accounting, post-separation, are more likely to work for sm aller firms.