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Market microstructure by Spulber D.F.

By Spulber D.F.

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433) Roberts (1996) suggested that organizational accounting embodies the separation of instrumental and moral consequences, which is questionable. He argued: The mystification of accounting information helps to fix, elevate and then impose upon others its own particular instrumental interests, without regard to the wider social and environmental consequences of the pursuit of such interests. Accounting thus serves as a vehicle whereby others are called to account, while the interests it embodies escape such accountability.

Stone, W. E. (1969). Antecedents of the accounting profession. The Accounting Review, April, 284–91. Vatter, W. J. (1950). Managerial Accounting. New York, NY: Prentice Hall. 2 Accounting and its Relationship to Shareholder Value and Business Structure This chapter develops the two themes that were identified in Chapter 1 as being important to the content of this book: the separation of ownership from control and the divisionalized form of business. The first is implicated in the emergence of capital markets and value-based management, the subject of this chapter, in which several tools for measuring shareholder value are described.

D. J. (1962). Strategy and Structure: Chapters in the History of the American Industrial Enterprise. Cambridge, MA: Harvard University Press. Chandler, A. D. J. (1990). Scale and Scope: The Dynamics of Industrial Capitalism. Cambridge, MA: Harvard University Press. Clark, J. M. (1923). Studies in the Economics of Overhead Costs. Chicago, IL: University of Chicago Press. Hobsbawm, E. (1962). The Age of Revolution: Europe 1789–1848. London: Phoenix Press. Hobsbawm, E. (1975). The Age of Capital: 1848–1875.

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