STEVE EASTON is Professor of Finance at the University of Newcastle where he has served as Head of the Department of Accounting and Finance and Dean of the Faculty of Economics and Commerce. He has undertaken research into the impact of accounting data on security market behaviour and on the market for corporate control. His recent research activity has included studies of the pricing of derivative securities. His work has been accepted for publication in a wide range of journals including The Journal of Futures Markets, Economica and The Journal of Banking and Finance. He has taught at the University of Adelaide, Lancaster University and Monash University. He has also provided short courses for a range of private and public sector organisations, including Australia Post, Macquarie Generation, State Forests of New South Wales and the Tasmanian Chamber of Commerce and Industry.