The paper explores the monitoring by 'external Names' (the principals) of 'working Names' (their agents) in the Lloyd's insurance market of the 1970s and early 1980s. The market was relying heavily on external Names to finance its rapid growth; and these principals were dependent upon their...

This paper explores the properties of pooling of interests (merger) accounting and purchase (acquisition) accounting as currently practised. It also compares these methods with variants of them that involve a greater use of fair values, the extent of valuation on a fair value basis and the...