Espeland & Hirsch propose that accounting has helped legitimize the conglomerate form of incorporation and has played a dysfunctional role in markets of corporate control. This paper suggests that evidence compelling acceptance of the first proposition may be insufficient for demonstrating the validity of the second one; and that substantial contrary evidence exists. The challenge ahead is to reconcile these evidences and to sort out the several theories that potentially explain them.
All Science Journal Classification (ASJC) codes
- Sociology and Political Science
- Organizational Behavior and Human Resource Management
- Information Systems and Management