Accounting and corporate governance practices: Facilitators of the rise of the corporate financial perspective in Colombia
DOI:
https://doi.org/10.17533/udea.rc.328435Keywords:
corporate governance, accounting practices, institutional isomorphism, organizational changeAbstract
Changes in accounting regulations and Corporate Governance experienced by Colombia over the past two decades have contributed to the consolidation of a corporate vision, according to which financial practices act as a guiding principle of organizational decisions. In this sense, the present discussion paper aims to present elements of analysis about the active role that interpret accounting and Corporate Governance modernizations in redefining the dominant view of a business. To do this, we describe the process of economic liberalization as a turning point. Then in the discussion is introduced the institutional isomorphism as an explanatory element of organizational change and some processes associated with the standardization of accounting practices and Corporate Governance in the light of the characteristics of coercive, mimetic and normative isomorphism are described. Finally, it is proposed that changes in the accounting and Corporate Governance regulation, introduced in Colombia, have acted as vehicles seeking to close the gap between organizational reality and the institutional demands.
Downloads
References
Aglietta, M., & Rebérioux, A. (2009). El debate contable. En M. Aglietta, El capitalismo financiero a la deriva (traducción) (pp. 151-182). Bogotá: Universidad Externado.
Araújo, P. (2003). Nuevo institucionalismo, teoría de la estructuración y cambio en los sistemas y prácticas de contabilidad de gestión: teorías y métodos de investigación. Revista Española de Financiación y Contabilidad, 32(118), 693-724.
Carrera, J. (2010). El G20, la crisis y el rediseño de la Arquitectura Financiera Internacional. Central Bank of Argentina (BCRA).
Davis, L., & North, D. (1971). Institutional Change and American Economic Growth. Cambridge, UK: Cambridge University Press.
Dimaggio, P., & Powell, W. (1983). Retorno a la jaula de hierro: El isomorfismo institucional y la racionalidad colectiva en los campos organizacionales. En P. Dimaggio, & W. Powell, El nuevo institucionalismo en el análisis organizacional (pp. 147-160). Fondo de Cultura Económica.
Fennell, M. (1980). The effects of environmental characteristics on the structure of hospital clusters. Administrative Science Quarterly, 485-510.
Frieden, J. (2006). Capitalismo Global. El trasfondo económico de la historia del siglo XX. Barcelona: Crítica.
Giraldo, C. (2007). ¿Protección o desprotección social? Bogotá: Desde abajo.
Guttman, R. (2009). Una introducción al capitalismo introducido poir las finanzas. Ola financiera, 20-59.
Hall, P. (2001). Varieties of capitalism: the institutional foundations of comparative advantage. Oxford: Oxford University Press.
Harvey, D. (2004). El nuevo imperialismo: acumulación por desposesión. 1-26.
López Pineda, L. (2010). Transformación productiva de la industria en Colombia y sus regiones despúes de la apertura. Cuadernos de Economía, 239 - 284.
Mahoney, J., & Thelen, K. (2010). A theory of gradual institutional change. Explaining institutional change: Ambiguity, agency, and power. Cambridge: Cambridge University Press.
Martínez, R., & Reyes, E. (2012). El consenso se Washigton: la instauración de las políticas neoliberales en América Latina. Política y Cultura (37), 35-34.
Meyer, J. (1979). The impact of the centralization of educational funding and control on state and local organizational governance. Program Report No. 79-B20. Stanford University,.
Meyer, J., & Rowan, B. (1999). Organizaciones institucionalizadas: la estructura formal como mito y ceremonia. En W. Powell, & P. DiMaggio, El nuevo institucionalismo en el análisis organizacional. México: Fondo de Cultura Económica, Colegio Nacional de Ciencias Políticas y Administración.
Nölke, A., & Perry, J. (2007). The Power of Transnational Private Governance: Financialization and the IASB. Business and Politics, 9(3), 1-25.
Oxley, J. (1998). Institutional environment and the mechanisms of governance: the impact of intellectual property protection on the structure of inter-firm alliances. Journal of Economic Behavior & Organization, 38, 283-309.
Pacheco-Vega, R., & Basurto, F. (2008). Instituciones en el saneamiento de aguas residuales: reglas formales e informales en el Consejo de Cuenca Lerma-Chapala. Revista mexicana de sociología, 70(1), 87-109.
Pardo, S. (2015). Prácticas de valoración y gobierno corporativo: medios para la resignificación del control en las organizaciones colombianas. Cuadernos de Contabilidad, 16(40).
Pina-Cabral, J. (2011). Afterword: What is an institution? Social Anthropology, 477-494.
Serle, J. (2010). Making the social world: the structure of human civilization. New York: Oxford University Press.
Shleifer, A., & Vishny, R. (1997). A Survey of Corporate Governance. The Journal of Finance, 737-783.
Siepel, J., & Nightingale, P. (2014). Anglo-Saxon governance: Similarities, difference and outcomes in a Financialised world. Critical Perspectives on Accounting, 25, 27-35.
Soin, K., & Collier, P. (2013). Risk and risk management in management accounting and control. Management Accounting Research, 24(2), 82-87.
Sunder, S. (2005). Introducción a la Teoría de la Contabilidad y el Control. En S. Sunder, Teoría de la contabilidad y el control (págs. 23-35). Bogotá: Universidad Nacional de Colombia.
Udy, S. (1970). Work in Traditional and Modern Society. Englewood Cliffs, N.J.: Prentice Hall.
Williamson, J. (1990). What Washington Means by Policy Reform. Institute for International Economics.
Williamson, O. (1991). Comparative Economic Organization: The Analysis of Discrete Structural Alternatives. Administrative Science Quarterly, 36(2), 269-296.
Zeff, S. (2003). How the U.S accounting profession get where it is today. Accounting Horizons, 17(4), 267-286.
Zhang, Y., & Andrew, J. (2014). Financialisation and the Conceptual Framework. Critical Perspectives on Accounting, 25, 19.
Downloads
Published
How to Cite
Issue
Section
License
Author’s copyright of the articles is transferred to the University of Antioquia to have abstracts and full texts available in databases that disseminate each issue’s contents. However, the authors may disseminate their work published in the Journal through their personal pages and institutional repositories.
