Gordon Boyce and Lachlan McDonald-Kerr
This paper investigates how contemporary public policy for public-private partnerships (PPPs) deals with non-financial values and thereby shapes the way social, cultural and…
Abstract
Purpose
This paper investigates how contemporary public policy for public-private partnerships (PPPs) deals with non-financial values and thereby shapes the way social, cultural and environmental issues are accounted for.
Design/methodology/approach
A case study critically analyses PPP policy in Victoria, Australia, an acknowledged leader in the area. The investigation of the policy’s approach to non-financial value focusses on the treatment of social and environmental issues, particularly in relation to indigenous cultural heritage values.
Findings
It is found that important non-financial issues are characterised as risks to be quantified and monetised in PPP project assessment. A critical analysis shows that this approach obscures many significant dimensions of social, environmental and Indigenous cultural heritage value. The resultant relegation of non-financial values in public discourse and decision-making is seen to entrench unsustainable practices.
Social implications
The paper shows how public policy may shape actions and outcomes that impact directly on social, environmental and indigenous cultural heritage values.
Originality/value
This study provides insights into contemporary social and environmental accounting and accountability for PPPs. It adds to the understanding of the implications of public policy framings of non-financial values.
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Lachlan McDonald-Kerr and Gordon Boyce
The purpose of this paper is to investigate public disclosures and accountability for government decision-making in the case of a major prison project delivered through a…
Abstract
Purpose
The purpose of this paper is to investigate public disclosures and accountability for government decision-making in the case of a major prison project delivered through a Public–Private Partnership (PPP) in the State of Victoria (Australia).
Design/methodology/approach
The study explores a unique case to provide insights into public disclosures for PPPs in a jurisdiction that is a recognised leader in PPP policy and practice. The analysis is theoretically framed by an understanding of neoliberalism and New Public Management, and draws on data from case-specific reporting, media reporting and public policy, to examine interconnections between accounting, public discourse and accountability.
Findings
The analysis shows how publicly available information relating to key government decisions routinely lacked supporting evidence or explanation, even though areas of subjectivity were recognised in public policy. Accounting was deployed numerically and discursively to present potentially contestable decisions as being based on common-sense “facts”. The implied “truth” status of government reporting is problematised by media disclosure of key issues absent from government disclosures.
Social implications
Under neoliberalism, accountingisation can help depoliticise the public sphere and limit discourse by constructing ostensible “facts” in an inherently contestable arena. By contrast, democratic accountability requires public disclosures that infuse a critical dialogical public sphere.
Originality/value
The paper shows how neoliberalism can be embedded in public policies and institutional practices, and buttressed by the use of accounting. The analysis illuminates the persistence and “failing forward” character of neoliberalism, whereby crises are addressed through further neoliberalisation.
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Venkateshwaran Narayanan and Gordon Boyce
The purpose of this paper is to examine the role of management control systems (MCS) in organisational change towards sustainability. In particular, it examines the extent to…
Abstract
Purpose
The purpose of this paper is to examine the role of management control systems (MCS) in organisational change towards sustainability. In particular, it examines the extent to which MCS may be instrumental in transformative organisational change in this sphere.
Design/methodology/approach
Through an in-depth case study of an Australian multinational corporation in the property sector, this paper explores the possibilities for MCS to influence organisational change towards a multi-bottom-line, balanced approach to social and environmental challenges facing corporations. MCS are conceptualised using Simons’ (1995) Levers of Control framework. On the question of sustainability, the approach adopted in this paper contrasts with much of the prior literature that largely takes a predominantly pragmatist approach and equates sustainability performance with financial performance. The prior literature generally reports a positive role for MCS in organisational change efforts. By contrast, drawing on the typology developed by Hopwood et al. (2005), this paper views sustainability as requiring a balancing of economic, social and environmental concerns.
Findings
The findings indicate that although MCS are not irrelevant, they do not play a transformative role in enabling deep-seated organisational change towards sustainability. The critical literature on the nature of MCS is drawn upon to explore the reasons for the observed non-role.
Originality/value
The analysis sheds light on factors that may influence the effectiveness of conventional notions of MCS in organisational change. The findings contribute to the debate regarding the suitability of continued efforts at using conventional notions of management accounting and MCS in enabling organisational change towards greater social and environmental sustainability. The paper also highlights the value of a critical examination of the usefulness of management accounting and control practices in the context of organisational change towards sustainability.
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Mohammad Imtiaz Ferdous, Carol A. Adams and Gordon Boyce
The purpose of this paper is to examine the influences on the adoption of environmental management accounting (EMA) in corporatised water supply organisations, from an…
Abstract
Purpose
The purpose of this paper is to examine the influences on the adoption of environmental management accounting (EMA) in corporatised water supply organisations, from an institutional theory perspective, drawing on the concepts of reflexive isomorphism and institutional logics.
Design/methodology/approach
The primary research involves case analysis of three companies in the Australian water supply industry, drawing on interviews, internal documents and publicly available documents, including annual reports.
Findings
Two key drivers for the adoption and emergence of EMA are: the emergence of a government regulator in the form of the Essential Services Commission (ESC) and community expectations with regard to environmental performance and disclosure. The water organisations were found to be reflexively isomorphic, while seeking to align their commercial logic to “sustainability” and “ensuring community expectations” logics to the legitimate adoption of EMA.
Originality/value
The paper contributes to the literature by providing case study evidence of the intentions and motivations of management in adopting EMA, and the nature of that adoption process over an extended period. Further, it provides empirical evidence of the applicability of reflexive isomorphism in the context of EMA and institutional logics.
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Purpose – Responsible investor (RI) engagement seeks to change corporate strategic priorities while balancing the financial imperative. This chapter uses an…
Abstract
Purpose – Responsible investor (RI) engagement seeks to change corporate strategic priorities while balancing the financial imperative. This chapter uses an institutional theory framework to explore the tension between financial performance and environmental, social, and governance (ESG) issues in RI engagement.
Methodology – Discourse of the proponent, supporters and opponents of Australia’s first climate change shareholder resolution – a minority proposal, will be analyzed using framing analysis.
Findings – Framing indicated that the discourse emphasized the dominant financial performance logic while often omitting the ESG logic. One possible explanation is that the process of shareholder proposal nomination and the financial imperative of investment organizations effectively co-opted the engagement.
Research limitations – A case of responsible investment engagement is used to illustrate multiple logics in the investment field. Although there are significant limitations to drawing inferences from a single example, the discussion is relevant to RI support for engagement initiatives such as the UN Principles of Responsible Investment clearinghouse and Carbon Disclosure Project Carbon Action. This chapter argues that attempts to change corporate strategic actions on climate change by RI through engagement will be less effective while the financial performance logic provides relatively more legitimacy to investors.
Practical implications – Integrating the ESG logic with the financial logic is vulnerable to co-optation due to incommensurability. Operationalizing both logics requires establishing a boundary between ESG and financial logics to develop legitimacy.
Social implications – RI engagement on climate change has the potential to be an important part of the social response to the sustainability agenda.
Originality – In applying institutional theory to RI climate change activism this chapter presents original insights into the potential of engagement to effect change.
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Gordon Boyce, is a senior lecturer in the Macquarie University Department of Accounting and Finance, where he is a member of the Social and Critical Research in Accounting and…
Abstract
Gordon Boyce, is a senior lecturer in the Macquarie University Department of Accounting and Finance, where he is a member of the Social and Critical Research in Accounting and Accountability Group. His interdisciplinary research encompasses social, critical and interpretive perspectives on accounting. Previous publications include research on environmental and social accounting; public administration, ethics and accountability; interactions between globalisation and accounting; and accounting education. Gordon presently teaches subjects in accounting information systems, accounting and society, social and critical perspectives on accounting and contemporary developments in accounting research.
Gordon Boyce, Wanna Prayukvong and Apichai Puntasen
Social and environmental accounting research manifests varying levels of awareness of critical global problems and the need to develop alternative approaches to dealing with…
Abstract
Social and environmental accounting research manifests varying levels of awareness of critical global problems and the need to develop alternative approaches to dealing with economy and society. This paper explores Buddhist thought and, specifically, Buddhist economics as a means to informing this debate. We draw on and expand Schumacher's ideas about ‘Buddhist economics’, first articulated in the 1960s. Our analysis centres on Buddhism's Four Noble Truths, the Noble Eightfold Path and associated Buddhist teachings. The examination includes assumptions, means and ends of Buddhist approaches to economics; these are compared and contrasted with conventional economics.To consider how thought and practice may be bridged, we examine a practical application of Buddhism's Middle Way, in the form of Thailand's current work with ‘Sufficiency Economy’.Throughout the paper, we explore the implications for the development of social accounting, looking for mutual interactions between Buddhism and social accounting thought and practice.
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Economic “development” involves processes that often jointly produce both goods and “bads” – economic, environmental and social. The bads, however, are often technologically…
Abstract
Economic “development” involves processes that often jointly produce both goods and “bads” – economic, environmental and social. The bads, however, are often technologically invisible; not least in terms of the way decisions are informed and accounted for. This paper takes as its case study a major development proposal that had the potential to produce economic, environmental, and social goods and bads. The paper involves an exploration of official independent reports leading to the proposal, considering the various factors taken into the decision, how the processes were reported on and accounted for. In particular, the treatment of financial/economic factors is examined and compared and contrasted with the treatment of social/environmental factors. From this, the paper considers possibilities for financial, social and environmental accounting in public discourse and decision making. In particular, the use of accounting to create environmental and social visibilities, and to facilitate discourse and debate, is examined.