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Investments in power generation in Great Britain c1960-2010 - The role of accounting and the financialisation of investment decisions

Investments in power generation in Great Britain c1960-2010 - The role of accounting and the financialisation of investment decisions

Warren, Elizabeth ORCID: 0000-0002-1441-9369, Quinn, Martin and Kristandl, Gerhard ORCID: 0000-0002-8461-0935 (2017) Investments in power generation in Great Britain c1960-2010 - The role of accounting and the financialisation of investment decisions. Qualitative Research In Accounting and Management. ISSN 1176-6093 (doi:https://doi.org/10.1108/QRAM-01-2016-0002)

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Abstract

This paper explores the increasing role of financialisation on investment decisions in the power generation industry in Great Britain (GB). Such decisions affect society, and the relative role of financialisation in these macro-levels decisions has not been explored from a historical perspective.

The paper draws on historical material and interview data. Specifically, we use an approach inspired by institutional sociology drawing on elements of Scott’s (2014) pillars of institutions. Applying concepts stemming from regulative and normative pressures, we explore changes in investments over the analysis period to determine forces which institutionalised practices - such as accounting - into investment in power generation.

Investments in electricity generation have different levels of public and private participation. However, the common logics that underpin such investment practices provide an important understanding of the political-economics and institutional change in the UK. Thus, the heightened use of accounting in investment has been, to some extent, a contributory factor to the power supply problems now faced by the British public.

This paper contributes to prior literature on the effects of financialisation on society, adding power generation/energy supply to the many societal level issues already explored. It also provides brief but unique insights into the changing nature of the role of accounting in an industry sector over an extended timeframe.

Item Type: Article
Uncontrolled Keywords: Investment, Electricity generation, Society, Financialisation, Institutional sociology
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
H Social Sciences > HG Finance
Faculty / Department / Research Group: Faculty of Business
Faculty of Business > Department of Accounting & Finance
Related URLs:
Last Modified: 11 Jun 2019 10:00
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: GREAT b
Selected for GREAT 2019: GREAT 3
URI: http://gala.gre.ac.uk/id/eprint/17559

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