Forthcoming articles

 


International Journal of Critical Accounting

 

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International Journal of Critical Accounting (10 papers in press)

 

Regular Issues

 

  • A Competition of Crooked Deeds   Order a copy of this article
    by Rita Koyame-Marsh 
    Abstract: The poem focuses on fraud and corruption in the global market of sports. It shows the pervasive state of payment of bribes, money laundering, and accounting fraud. All parties involved seem to be motivated by greed and lack of business ethics. The global nature of the criminal activities is unsettling. A reform of the internal management process is necessary in addition to the institution of an external third party monitoring system.
    Keywords: Corruption; Accounting Fraud; bribes; sport management; international sport.

  • Conventional accounting in determining an enterprises wealth: Sign or referent a theoretical discourse for augmentation   Order a copy of this article
    by Sudhir Lodh 
    Abstract: This paper is an attempt to assess the duality check of wealth determination through contemporary corporate reporting. In enhancing such a theory of interest, it is argued that there is a necessity to use methodical discretions; which ultimately can inform and reflect the implicit epistemology and metaphysics (Ravenscroft and Williams 2009) of our discipline of accounting. From extant accounting literature using two metaphors - sign and referent (Baudrillard 1983, 1994a, 1994b); in a dynamic environment, it is argued that prevalent accounting standards such as IFRS (or otherwise) are considered to be signs and have epistemic objectivity. That is, the determination of wealth (in accounting) based on the current signs is objective. At the referent level, it is argued that the determination of wealth for an enterprise is considered to be subjective; which, as always, requires augmentation.
    Keywords: The Accounting Equation; Augmented Accounting Framework; Confidence Accounting; Fair Value; Corporate Reporting; Integrated Reporting.

  • Fair Value in the Professional Valuation: Concept and Models   Order a copy of this article
    by Andrey Artemenkov, Suman Lodh, Monomita Nandy 
    Abstract: In this paper we consider semantic and methodological features of equitable value as the basis of valuation in the Professional valuation. Fair value is the logically necessary basis for estimating values-in-exchange for illiquid assets traded on the markets where the operations of the law of one price is very weak. Such logical relevance is demonstrated with the aid of a tool based on Venn-diagrammatic approach. This VDA is also helpful in explaining in detail interrelationships between other valuation bases used in Professional Valuation. In particular, the article analyzes fair value estimating formulas based on the V. Galasyuk's approach and the Transactional Asset Pricing Approach . At the same time, the unavoidable economic and ethical nature of fair value is emphasized, which becomes even more pronounced with the renaming of this valuation basis from Fair to Equitable Value in the International Valuation Standards 2017 edition. The contribution of the Paper is in analyzing the main aspects of fair value estimation theories that exist today in terms of where they fall in the normativist/positivist continuum of economic analysis and drawing into relief their distinguishing elements, while the proposed VDA tool can also find an application as a helpful tool for valuation analysis.
    Keywords: Equitable (Fair) value; Venn –diagrammatic approach to valuation bases; the International Valuation Standards; Professional Valuation; Transactional Asset pricing Approach (TAPA);Galasyuk Fair Value theory.

  • The relevance of valuation principles in a financial crisis: Senior bank managers evaluations of other banks on the interbank market   Order a copy of this article
    by Roy Liff, Gunnar Wahlström 
    Abstract: This article examines senior bank managers evaluations of other banks in the interbank market during times of financial crisis. We conclude that the fair value principle demands greater awareness of the need for reputational monitoring, evaluation by thick trust and scepticism towards numbers. Monitoring during crisis includes neither historical cost nor fair value numbers, because numbers are distrusted. Consequently, valuation principles may not explain contagion effects during crisis.rnrn rn
    Keywords: Keywords: bank; financial crisis; contagion effects; interbank market; senior bank managers; trust; financial accounting; fair value; historical cost; valuation principle.

  • ACCOUNTING AS A TOOL FOR MAINTENANCE OF BUREAUCRATIC DOMINATION   Order a copy of this article
    by Juliana Araujo, Francisco José Sobreira De Matos, João Gabriel Nascimento De Araujo 
    Abstract: This study was based on bibliographical research, based on Webers framework, aiming to discuss the existing relationship between accounting Science and bureaucratic domination perpetuated by the model of rational companies. Weber's contributions in the literature on domination and power, as well as the analysis of its forms, are presented, not departing from the foundation of the origin of modern capitalism. In addition, the concepts derived from the accounting and its relations with the bureaucratic aspects of Weber are presented, given the strategy adopted of this study the literary revision. The discussion of this study evidences the intrinsic participation of legal, impersonal and rational aspects to the accounting. In addition, the study brings contributions to add such aspects in proposed organizational models, such as that presented by Alves (2003).
    Keywords: Bureaucracy; Accounting; Domination.

  • The Conformation of the Primitive Accumulation and Capitalist Spirit The Theory of Corporate Governmentality   Order a copy of this article
    by Eduardo Rivera Vicencio 
    Abstract: The contribution of this work is to describe the conformation of the primitivernaccumulation, taking as a central theme the capitalist spirit. In this way, differentrncharacteristics of the dominant discourse on the capitalist spirit are addressed, as well asrninstitutions to which some authors attribute a fundamental importance in therndevelopment of capitalism. In this process of description, manifestations of powerrnrelations are incorporated, which help to partially break down what Foucault callsrncapitalist governmentality, from a critical economic perspective. In this work, thernconformation of primitive accumulation is treated as part of the conformation ofrncapitalist governmentality.rnThis is how, through the characteristics and institutions of the capitalist spirit and withrnthe support of economic and historical aspects, one finds the real institutionalisedrnelements of the origin of capitalism and primitive accumulation such as dispossession,rnslavery, corruption, speculation and the perpetuation of social differences.
    Keywords: Primitive accumulation; capitalist spirit; transition of feudalism to capitalism; capitalist governmentality; colonialism; plundering; slavery; corruption; speculation and Foucault.

  • A Review of the Characteristics of Corporate and Shariah Governance Mechanisms and Earnings Quality   Order a copy of this article
    by Siti Fariha Muhamad, Zunaidah Sulong 
    Abstract: This paper aims to present a review of past literature on Shariah governances regulatory frameworks, characteristics of mechanisms, and relationship with financial reporting quality. Shariah governance has been the focus of numerous studies on Islamic banking for the past few years. This paper specifically examines cross-country empirical studies. An electronic search was conducted to identify relevant studies using keywords such as Islamic banking and corporate governance or Shariah governance or Islamic banking and earnings quality. The different types of Shariah governance regulatory frameworks in various countries that have Islamic banking, which were established depending on the countrys needs, economic market as well as laws and regulations, were identified in this review. A synthesis of empirical findings demonstrated that characteristics of corporate and Shariah governance in Islamic banking have been examined in relation to performance, efficiency, risk behaviour, and earnings quality. Furthermore, the board of directors (BOD) and Shariah supervisory board (SSB) are the most examined mechanisms in which BODs (size, independence of director, and role duality) and SSBs characteristics (size, expertise of members, and cross-membership) were the focus of the studies. The results were mixed but still limited. Besides, the measurements of earnings have been proxied by discretionary accrual, loan loss provision, and earnings loss avoidance. In short, it is concluded that the Shariah principles embedded in the operation of Islamic banking and the presence of the additional layer of Shariah governance have impacted the managerial behaviour in Islamic banks. This literature review has shed light on past studies by investigating the characteristics of corporate and Shariah governance mechanisms and thus serves as a preliminary study for further examination of this topic in the future.
    Keywords: Shariah Board; Islamic Financial Institution; Financial Reporting Quality; Corporate Governance; Shariah Governance.

  • The Differential Impact of Investor Sentiment on the Value Relevance of Book Value versus Earnings   Order a copy of this article
    by Guannan Wang 
    Abstract: This study investigates the impact of investor sentiment on the allocation of investor attention across different information sources. Specifically, I examine the differential role of investor sentiment on the value relevance of book value versus earnings. I predict and find that the value relevance of book value is higher during low sentiment relative to high sentiment periods, and conversely that the value relevance of earnings is higher during high sentiment relative to low sentiment periods. Additional analyses suggest that this sentiment effect is more pronounced for book value components that are closely related to abandonment value, and for earnings components that have strong indication of future earnings. This study also provides empirical evidence for the limited attention theory suggested by psychology research by showing that investor skepticism leads to their placing greater emphasis on financial statement information.
    Keywords: Investor sentiment; Value relevance; Book value; Earnings; Limited attention.

  • Wells Fargo and Company: Shareholder Derivative Action Should the Case Succeed in Federal Court for the Board of Directors?   Order a copy of this article
    by Murray Bryant, Throstur Olaf Sigurjonsson 
    Abstract: A shareholder derivative suit is an action allowed by the courts available for shareholders who believe that they have been harmed by actions of the board of directors and management. In most instances, particularly in the US state of Delaware, the actions are not allowed to proceed. The rationale being that the business judgment rule applies and as a consequence boards of directors are not held responsible for bad decisions and as a result, the business judgment is held to be supreme. Thus they are presumed to act with diligence, without self-interest and in the best interests of the corporation. In the case of the action against Wells Fargo and Company, Judge Tigar of the Northern District of California, has allowed the action to go ahead, on the basis that the directors had been negligent on multiple actions with respect to several proceedings by Federal Agencies against the bank and furthermore that the directors failed to hold senior management to account when concerns were raised from several sources about malfeasance occurring in the bank. The paper suggests the arguments both for the plaintiffs and the defendants in the case.
    Keywords: Business judgment rule; responsibility of boards of directors; shareholder derivative action; malfeasance; fraud; multiple firings; judicial hearing; strategy and performance measurement systems.

  • A Marxist Analysis of American Gun Culture   Order a copy of this article
    by Kieran James, Jodi McKenzie 
    Abstract: This study was carried out in order to gain insights into the attitudes and opinions of American citizens regarding gun culture in their country. In particular, the research aimed to identify what they perceived to be the main causes and influences upon gun culture; and what they believed were possible solutions to the gun culture. A survey was distributed to American citizens on the gun culture topic and it was completed by 57 respondents. The survey results show a variety of opinions with those of gun owners and non-gun owners contrasting. The gun owners attitudes were in line with the beliefs and political views of the National Rifle Association; whereas the non-gun owners favoured more gun control laws to be passed in the future. The Marxist perspectives of Alienation Theory and Conflict Theory help us to understand better the American gun culture within the context of American capitalist society.
    Keywords: Alienation; Capitalism; Conflict Theory; Gun culture; Marxism; Strain Theory.