Ownership structure and accountability: the case of the privatization of the Spanish tobacco monopoly, 1887-96

Marta Macias ()

Accounting History Review, 2002, vol. 12, issue 2, 317-345

Abstract: This paper analyses the case of the privatization of the Spanish tobacco monopoly, focusing on the period between 1887 and 1896, which corresponds to the first leasing contract between the state and the Spanish Tobacco Company and it is concerned with two different issues. First, it deals with the effects of privatization on accountability.The main question examined is whether public and private ownership entail different approaches to the way in which managers are accountable to owners, and the impact this issue had on corporate reporting. Second, it is concerned with exploring the determinants of accounting disclosure. Here, the basic issue is to understand the factors shaping changes in corporate reporting during the period of study.

Keywords: Accounting History; Corporate Reporting; Privatization; Tobacco Monopoly; Spain (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1080/09585200210134965

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