All rights reserved. Except for the quotation of short passages for the purposes of criticism and review, no part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher. | - - J - n r r jm W1 A v h w Jt- . .J- jsrg - u k _ -. . Y w çj . r f bi ackwiíll ENCYCLOPEDIC DICTIONARY . v . r jt N OF HNANCE r v H k N - . . I . J 1 - DEAN PAXSON and DOUGLAS WOOD Z n1 tílarkurtí Lnq rfoprtiin of Management editur kn LSSûr Àry l_ iooprr and riTifissitr Ji its .-Vivirk THE BLACKWELL ENCYCLOPEDIA OF MANAGEMENT EDITED BY CARY L. COOPER AND CHRIS ARGYRIS Blackwell Encyclopedic Dictionary of Accounting Edited by A. Rashad Abdel-khalik Blackwell Encyclopedic Dictionary of Strategic Management Edited by Derek F. Channon Blackwell Encyclopedic Dictionary of Management Information Systems Edited by Gordon B. Davis Blackwell Encyclopedic Dictionary of Marketing Edited by Barbara R. Lewis and Dale Littler Blackwell Encyclopedic Dictionary of Managerial Economics Edited by Robert McAuliffe Blackwell Encyclopedic Dictionary of Organizational Behavior Edited by Nigel Nicholson Blackwell Encyclopedic Dictionary of International Management Edited by John J. O Connell Blackwell Encyclopedic Dictionary of Finance Edited by Dean Paxson and Douglas Wood Blackwell Encyclopedic Dictionary of Human Resource Management Edited by Lawrence H. Peters Charles R. Greer and Stuart A. Youngblood Blackwell Encyclopedic Dictionary of Operations Management Edited by Nigel Slack Blackwell Encyclopedic Dictionary of Business Ethics Edited by Patricia H. Werhane and R. Edward Freeman 2 The Blackwell Encyclopedic Dictionary of Finance Edited by Dean Paxson and Douglas Wood Manchester Business School