A Social Movement Perspective on Finance: How Socially Responsible Investment Mattered


Journal of Business Ethics

avril 2010, vol. 92, pp.57-78

Départements : Comptabilité et Contrôle de Gestion

Mots clés : Framing, France, Institutional change, Organizational field, Social movements, Socially Responsible Investment (SRI)

This study discusses how social movements can influence economic systems. Employing a political'cultural approach to markets, it purports that 'compromise movements' can help change existing institutions by proposing new ones. This study argues in favor of the role of social movements in reforming economic institutions. More precisely, Socially Responsible Investment (SRI) movements can help bring SRI concerns into financial institutions. A study of how the French SRI movement has been able to change entrenched institutional logics of the French asset management sector provides wide-ranging support for these arguments. Empirical findings are drawn from a longitudinal case study (1997'2009), based on participative observation, interviews and documentary evidence. Implications for research on social movements, institutional change and SRI are outlined. Lastly, the study provides practitioners with some theoretical keys to understand the pros and cons of 'SRI labels'.

Accounting and Strategising: A Case Study from New Product Development

B. Jørgensen, M. MESSNER

Accounting Organizations and Society

février 2010, vol. 35, n°2

Départements : Comptabilité et Contrôle de Gestion

Abstract: This paper explores the relationship between accounting and strategy in a context that is characterized by pluralistic demands and high uncertainty about outcomes. By way of an ethnographic field study in an R&D intensive company, we analyze new product development (NPD) projects and the way in which decisions and practices concerning these projects are accounted for. Building upon a practice theory perspective, we find that actors account for the appropriateness of NPD practices not only or primarily on the basis of accounting information, but also by "strategising", i.e. by mobilizing different strategic objectives to which these practices are supposed to contribute. We argue that this has to do with the ambiguous demands on NPD and the limits of calculability inherent in NPD design decisions. At the same time, accounting information is not necessarily irrelevant in such a case; it can enter the picture as a general understanding that guides actors' strategising efforts by reminding them of the ultimate importance of financial numbers. Keywords: management accounting, strategising, new product development, practice theory, accountability

CEO Ability, Pay, and Firm Performance

C. Y. Y. Chang, G. HILARY, S. Dasgupta

Management Science

octobre 2010, vol. 56, n°10, pp.1633-1652

Départements : Comptabilité et Contrôle de Gestion

accepté le 11/05/2010Do chief executive officers (CEOs) really matter? Do cross-sectional differences in firm performance and CEO pay reflect differences in CEO ability? Examining CEO departures over 1992-2002, we first find that the stock price reaction upon departure is negatively related to the firm's prior performance and to the CEO's prior pay. Second, the CEO's subsequent labor market success is greater if the firm's predeparture performance is better, the prior pay is higher, and the stock market's reaction is more negative. Finally, better prior performance, higher prior pay, and a more negative stock market reaction are associated with worse postdeparture firm performance. Collectively, these results reject the view that differences in firm performance stem entirely from non-CEO factors such as the firms' assets, other employees, or "luck," and that CEO pay is unrelated to the CEO's contribution to firm value.*CHIEF executive officers*EXECUTIVE ability (Management)*EXECUTIVES -- Salaries, etc.*BUSINESS enterprises -- Valuation*STOCKS -- Prices*LABOR market*FINANCIAL market reaction

Conglomerate Structure and Capital Market Timing

G. HILARY, X. Chang, C. Mei Shih, L. H.K. Tam

Financial Management

2010, vol. 39, n°4

Départements : Comptabilité et Contrôle de Gestion

Corporate Fraud and Managers' Behavior: Evidence from the Press

J. Cohen, Y. Ding, C. LESAGE, H. STOLOWY

Journal of Business Ethics

2010, vol. 95, pp.271-315

Départements : Comptabilité et Contrôle de Gestion, GREGHEC (CNRS)

Mots clés : corporate fraud, fraud triangle, theory of planned behavior, managerial ethics, personality traits, fraud-related professional standards

Based on evidence from press articles covering 39 corporate fraud cases that went public during the period 1992-2005, the objective of this paper is to examine the role of managers' behavior in the commitment of the fraud. This study integrates the fraud triangle (FT) and the theory of planned behavior (TPB) to gain a better understanding of fraud cases. The results of the analysis suggest that personality traits appear to be a major fraud risk factor. The analysis was further validated through a quantitative analysis of key words which confirmed that key words associated with the attitudes/rationalizations component of the integrated theory were predominately found in fraud firms as opposed to a sample of control firms. The results of the study suggest that auditors should evaluate the ethics of management through the components of the theory of planned behavior: the assessment of attitude, subjective norms, perceived behavioral control and moral obligation. Therefore, it is potentially important that the professional standards that are related to fraud detection strengthen the emphasis on managers' behavior that may be associated with unethical behavior. KEY WORDS: Corporate fraud, fraud triangle, theory of planned behavior, managerial ethics, personality traits, fraud-related professional standards

Lutte contre la pauvreté et innovation organisationnelle. Le cas de l'incubateur de coopératives populaires à Rio de Janeiro


Revue Française de Gestion

2010, vol. 36, n°208-209, pp.83-99

Départements : Comptabilité et Contrôle de Gestion

Pratiques budgétaires, rôles et critiques du budget. Perception des DAF et des contrôleurs de gestion

S. Sponem, C. LAMBERT

Comptabilité Contrôle Audit

avril 2010, vol. 16, n°1, pp.159-194

Départements : Comptabilité et Contrôle de Gestion

L'objectif de cet article est de proposer une typologie des pratiques budgétaires à partir de la perception qu'en ont les directeurs administratifs et financiers (DAF) et les contrôleurs de gestion afin de mieux comprendre les rôles que le budget remplit et les critiques qui peuvent lui être adressées. A partir d'une analyse classificatoire (taxinomie) des pratiques de 269 entreprises françaises et d'une analyse typologique, cinq styles budgétaires sont identifiés : le budget strict, le budget diagnostique, le budget interactif, le budget souple et le budget indicatif. Ces styles se distinguent principalement par le niveau d'implication de la hiérarchie dans le processus budgétaire, par l'utilisation qui est faite du budget pour évaluer la performance et par la possibilité de faire évoluer le budget en cours d'année. Cette recherche propose une approche configurationnelle du budget et montre que les rôles et critiques du budget dépendent largement du type de pratiques budgétaires mises en 'uvre dans les organisations.BUDGET TYPOLOGYCONTROLCRITICSINTERACTIVEROLESBUDGETCONTRÔLEINTERACTIFCRITIQUESRÔLESTYPOLOGIE

Why do you speak English (in your financial statements)


International Journal of Accounting

2010, vol. 45, n°2, pp.200-223

Départements : Comptabilité et Contrôle de Gestion, GREGHEC (CNRS)

The dominance of English as a lingua franca in international business exchanges is so commonly accepted that there has been no investigation into the use of English as an external financial reporting language in non-English speaking countries. In this study we analyze the factors associated with the publication of an English-language annual report in non-English-speaking countries. Using a sample of 3,994 firms from 27 countries in 2003, we find that about 50% of the sample firms issue annual reports in English. Our findings suggest that the decision to publish an English annual report is related to the internationalization process (via foreign sales), language barriers (via language distance and language importance), governance (via ownership structure) and financial concerns (via the need for external financing, capital market size and cross-listing).