Futures—and Still More Complexity

John B. Kidd and Frank-Jürgen Richter

Chapter 13 in Development Models, Globalization and Economies, 2006, pp 219-229 from Palgrave Macmillan

Abstract: Abstract At the sharp end of business under the Anglo-American rules, and others, there is an annual need to file accounts to show to the public that the firm is correctly managed and its resources correctly assessed. Of course ‘correct’ is determined by rules which vary over time as international legislation determines how firms have had to be more open and transparent. One part of this is that multi-national firms have had to devise internal methods to be able to compare the performance of their subsidiaries operating in various countries; and another part is determined by the stakeholders wishing to see that their investments are being managed well, notwithstanding where in the world the firms are operating. As we have seen in earlier chapters, the big economic models vary quite considerably, and there is not a universal acceptance of the Anglo-American way. Understandably, accounting standards have not been applied fairly, or evenly across nations — there is considerable disagreement upon the principles to be applied. This has allowed variety to hide corruption.

Keywords: Business School; International Financial Reporting Standard; Multinational Firm; Power Distance Index; Uncertainty Avoidance Index (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52355-5_13

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DOI: 10.1057/9780230523555_13

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