An exploratory study of an early stage R&D-intensive firm under financialization
Pauline Gleadle and
Colin Haslam
Accounting Forum, 2010, vol. 34, issue 1, 54-65
Abstract:
The financialization literature considers the impact of financial markets on corporate strategy, governance, financial performance and the distribution of resources between various stakeholder groups. Capital market demands modify strategic priorities, governance and managerial narratives about performance because this helps justify value creation and value absorption in an era of shareholder value. The literature on financialization suggests that managers have a tendency to exaggerate performance to boost valuations especially when their interests align with those of the firm’s shareholders. In this exploratory study of an R&D-intensive firm “Medco” we consider the extent to which managerial narratives and corporate governance of this R&D-intensive firm reflect a process of financialization.
Date: 2010
References: View complete reference list from CitEc
Citations: View citations in EconPapers (5)
Downloads: (external link)
http://hdl.handle.net/10.1016/j.accfor.2009.10.002 (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:taf:accfor:v:34:y:2010:i:1:p:54-65
Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/racc20
DOI: 10.1016/j.accfor.2009.10.002
Access Statistics for this article
Accounting Forum is currently edited by Carol Tilt
More articles in Accounting Forum from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().