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Editorial note
EDITORIAL N O T E W i t h effect f r o m 1 J a n u a r y 1992 t h e e d i t o r i a l b o a r d of BAR has b e e n r e s t r u c t u r e d . A n essential aspect o f BAR is t h a t it s h o u l d reflect t h e w i d e d i v e r s i t y o f interests o f t h e B r i t i s h A c c o u n t m g A s s o c i a t i o n a n d n o t b e seen to b e r e f l e c t i n g a p a r t i s a n approach to publication. The appointment of Associate Editors for particular subject areas will b r i n g a w i d e r r a n g e o f v i e w s , c o n t a c t s , referees a n d a t t i t u d e s i n t o t h e BAR r e f e r e e i n g process a n d m a i n t a i n BAR's a b i l i t y to reflect a n d r e s p o n d to t h e w i d e n i n g a n d b u o y a n t interests o f t h e B A A . W h i l e all p a p e r s will still b e sent i n t h e first i n s t a n c e to t h e E d i t o r , Associate E d i t o r s will o v e r s e e t h e r e f e r e e i n g process in t h e i r s u b j e c t areas a n d m a k e t h e e d i t o r i a l d e c i s i o n as to w h e t h e r o r n o t to p u b l i s h a p a p e r . T h e E d i t o r will, i n e x c e p t i o n a l c i r c u m s t a n c e s , act as a r b i t r a t o r o n decisions.
The range of Associate Editors does not reflect the full range of papers published by and the existence or otherwise of an Associate Editor should not be taken as suggesting emphasis of Editorial Policy. P a p e r s n o t c o v e r e d b y A s s o c i a t e E d i t o r s will BAR
b e h a n d l e d b y t h e E d i t o r in t h e usual w a y . ROB GRAY J a n u a r y 1992
Copyright © 1992 Academic Press Limited The appearance of the code at the bottom of the first page of a paper m this journal indicates the copyright owner's consent that copies of the paper may be made for personal or internal use, or for the personal or internal use of specific chents m the USA. This consent Is g~ven on the conchtton, w,thin the USA, that the copmr pay the stated per-copy fee through the Copyright Clearance Center, Inc., 27 Congress Street, Salem, MA 01970, for copying beyond that permitted by Section 107 or 108 of the US Copyright Law. This consent does not extend to other kinds of copymg, such as copymg for general dlsmbutmn, for advemsmg or promotional purposes, for creating new collective works, for resale or for copying or thstrthutmg copies outside the USA. THE BRITISH ACCOUNTING REVIEW (ISSN 0890-8389) is pubhshed quarterly by Academic Press Ltd., 24-28 Oval Road, London NW1 7DX, England. Annual subscription price m U.S.A. and Canada $134.00 mchidmg air speed dehvery Volume 24, 1992 Inland £80.00 incl. postage; abroad $145 incl postage Subscription orders should be sent to Academic Press Limited, High Street, Foots Cray, Sidcup, Kent DA14 5HP (Tel 081-300 3322) Send notices of change of address to the office of the Publishers at least 6-8 weeks m advance. Please include both old and new addresses. Buyers m Canada should add GST at the current rate of 7%. Second class postage paid at Jamaica, N Y. 11431. U.S A. Postmasters.Send address changes to THE BRITISH ACCOUNTING REVIEW, Pubhcatlon Expethting, Inc, 200 Meacham Ave., Elmont, N.Y. 11003. Air frelght and marling m the U S.A by Pubhcataons Expedmng, Inc., 200 Meacham Ave., Elmont, N.Y. 11003. ISSN 0890-8389
The range of Associate Editors does not reflect the full range of papers published by and the existence or otherwise of an Associate Editor should not be taken as suggesting emphasis of Editorial Policy. P a p e r s n o t c o v e r e d b y A s s o c i a t e E d i t o r s will BAR
b e h a n d l e d b y t h e E d i t o r in t h e usual w a y . ROB GRAY J a n u a r y 1992
Copyright © 1992 Academic Press Limited The appearance of the code at the bottom of the first page of a paper m this journal indicates the copyright owner's consent that copies of the paper may be made for personal or internal use, or for the personal or internal use of specific chents m the USA. This consent Is g~ven on the conchtton, w,thin the USA, that the copmr pay the stated per-copy fee through the Copyright Clearance Center, Inc., 27 Congress Street, Salem, MA 01970, for copying beyond that permitted by Section 107 or 108 of the US Copyright Law. This consent does not extend to other kinds of copymg, such as copymg for general dlsmbutmn, for advemsmg or promotional purposes, for creating new collective works, for resale or for copying or thstrthutmg copies outside the USA. THE BRITISH ACCOUNTING REVIEW (ISSN 0890-8389) is pubhshed quarterly by Academic Press Ltd., 24-28 Oval Road, London NW1 7DX, England. Annual subscription price m U.S.A. and Canada $134.00 mchidmg air speed dehvery Volume 24, 1992 Inland £80.00 incl. postage; abroad $145 incl postage Subscription orders should be sent to Academic Press Limited, High Street, Foots Cray, Sidcup, Kent DA14 5HP (Tel 081-300 3322) Send notices of change of address to the office of the Publishers at least 6-8 weeks m advance. Please include both old and new addresses. Buyers m Canada should add GST at the current rate of 7%. Second class postage paid at Jamaica, N Y. 11431. U.S A. Postmasters.Send address changes to THE BRITISH ACCOUNTING REVIEW, Pubhcatlon Expethting, Inc, 200 Meacham Ave., Elmont, N.Y. 11003. Air frelght and marling m the U S.A by Pubhcataons Expedmng, Inc., 200 Meacham Ave., Elmont, N.Y. 11003. ISSN 0890-8389