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The purpose of this multi-voiced paper is to propose a prosocial paradigm for the field of performance management and management control systems. This new paradigm suggests cultivating prosocial behaviour and prosocial groups in organizations to simultaneously achieve the objectives of economic performance and sustainability.

The authors share a common concern about the future of humanity and nature. They challenge the influential assumption of economic man from neoclassical economic theory and build on evolutionary science and the core design principles of prosocial groups to develop a prosocial paradigm.

Findings are based on the premise of the prosocial paradigm that self-interested behaviour may outperform prosocial behaviour within a group but that prosocial groups outperform groups dominated by self-interest. The authors explore various dimensions of performance management from the prosocial perspective in the private and public sectors.

The authors call for theoretical, conceptual and empirical research that explores the prosocial paradigm. They invite any approach, including positivist, interpretive and critical research, as well as those using qualitative, quantitative and interventionist methods.

This paper offers implications from the prosocial paradigm for practitioners, particularly for executives and managers, policymakers and educators.

Adoption of the prosocial paradigm in research and practice shapes what the authors call the prosocial market economy. This is an aspired cultural evolution that functions with market competition yet systematically strengthens prosociality as a cultural norm in organizations, markets and society at large.

This paper explores the role of institutional objects in the constitution of institutional logics. Institutional objects depend for their objectivity on the goods produced through those objects, such as economic models, passports, or sacred texts. The authors theorize institutional logics as grammars of valuation that institutionalize goods through institutional objects. The authors identify four value moments through which goods are objectified: institution, the instituting of a good, a belief and an imagination of its objective goodness; production, how the good is produced, what practices are productive of the good; evaluation, how good is the good, the practices and objects through which worth in terms of that good is determined, and territorialization, the domain of reference of the good, to what objects and practices a good can and does refer in its instantiations. The authors assess the adequacy of our model through an institutional object based on the good of “market value” – i.e., an options pricing model. The authors discuss the implications of these findings for institutional logical theory and the sociology of valuation.

Although markets are intensely social, stock markets are peculiar in that they are normatively anonymous spaces. Anonymity is a difficult-to-achieve social accomplishment in which material identity information is successfully stripped from participants. The academic literature is conflicted regarding the degree to which equity markets are anonymous and how this influences traders’ behavior.

Based on focused, tape-recorded ethnographic interviews, this chapter investigates the work practices of professional investors and brokers to describe the conditions under which brokers veil or reveal investors’ identities to their competitors, and thereby shed light on how anonymity is socially produced (or eroded) in global stock markets.

The social structure of brokered financial markets places brokers in the awkward situation of sitting in an information-poor structural location for so-called “fundamental information” while being paid to share information with professional investors who sit in an information-rich structural location. A resolution to this material and social dilemma is that brokers can erode the market’s anonymity by gifting identity information (“order flow”) – the previous, prospective, or pending trades of their clients’ competitors – thereby providing traders a competitive advantage. They share identity information in three types of performances: transparent relationships, masked relationships, and the transformation of illicit material identity information into licit and sharable “fundamental” information. Each performance partly erodes transaction-level and market-level anonymity while simultaneously partially supporting anonymity.

Laws and regulations requiring brokers’ confidentiality of their clients’ trades are easily and systematically eluded. Policy makers and regulators may opt to respond by increasing surveillance and mechanization of brokers’ work so as to promote a normatively anonymous market. Alternatively, they may opt to question the value of promoting and policing anonymity in financial markets by revising insider trading regulations.

Even well-regulated markets are semi-anonymous spaces due to the systematic exposure of investors’ identities to competitors by their shared brokers on a daily basis. This finding provides an additional explanation for how professional investors can imitate one another (“herd”) as well as why subpopulations of investors often trade so similarly to one another.

The authors analyse the development and implementation of the standard for the Legal Entity Identifier as a case of creating information-based assets through the establishment of an infrastructure that certifies the accuracy and validity of identity data. The authors term this process capitalization by certification. The findings describe a process whereby an identification infrastructure – including a non-replicable methodology for assessing data quality – is established that contributes to making the developer and controller of that methodology, an irreplaceable intermediary for users of the infrastructure; this in spite of the need for an associated reference data infrastructure to be open and widely accessible to all participants for the infrastructure to be successful. The findings indicate that in the process, assets are created on the basis of openly accessible data through certifying of a desired set of qualities to be achieved by adopters and the infrastructure. This, in turn, provides a starting point toward better understanding and theorizing of wider processes of data capitalization, encountered throughout the digital economy but which are also crucial to establishing information infrastructures that support cognitive action.

The purpose of this paper is to highlight the potentials offered by New Product Committees for the development of responsible innovation in the financial services industry; and to provide grounds for policy recommendations.

The paper takes the form of collective, interdisciplinary reflection and experience within the industry.

New Product Committees can serve a practical approach to responsible innovation in finance.

The paper fills a gap in the empirical consideration of New Product Committees in the financial services industry and proposes original directions for policy orientations within organizations and at a regulatory level.

The purpose of this paper is to contribute to the discussion on the non-essence of accounting by focusing on financial accounting’s distinct technology: financial statements. Complementing the genealogical perspective on accounting’s changing socio-historical settings, it proposes a semiotic perspective on the accounting statement.

The paper takes an interdisciplinary approach in the theoretical framing of IFRS recognition and measurement principles that underlie the statement of financial position. It mobilises Saussure and Barthes’ sign theory – semiology, as it provides a meaningful delineation of financial accounting, bringing out its distinct numerical-linguistic knowledge-construction operation.

In addition to the justification of employing semiology as a parent discipline for accounting, it is shown how IASB’s recognition and measurement procedures manifest the interrelated non-essentialist semiological principles of reciprocal articulation and value constellation. Accounting entries (“expression”) are not representations of pre-existing economic resources (“content”), but rather both are mutually constituted by delimiting the resource/asset from its broader category. Such judgment-based articulation results with value constellations, where asset value is merely a relational product of other values.

To the long-established critique that accounting has no essence, the paper adds a formulation of a non-essentialist semiotic logic: the financial statement’s semio-logic. It further sheds light on the role of such logic as an epistemological presupposition to the accounting – society reciprocity, where accounting is a malleable product of, and is used to exert power over, its social surroundings.