Institution: | The author is a lecturer in the Department of Accounting and Finance at Lancaster University. Thanks are due to Ken Peasnell, Peter Pope, Janette Rutterford, Martin Walker, seminar participants at Lancaster, the 1994 British Accounting Association Northern Accounting Group conference at Hull, and the 1995 ACCA/ICAEW/JBFA Capital Markets Conference at Grasmere for useful comments and suggestions. |