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Accounting for long-tail asbestos liabilities: Metaphor and meaning

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  • Moerman, Lee
  • van der Laan, Sandra

Abstract

This paper examines the different meanings of the ‘long-tail’ metaphor in the corporate environment. Using the case study of James Hardie Industries, this paper analyses the disclosure of corporate long-tail liabilities arising from asbestos operations under different regulatory frameworks. This analysis demonstrates the long-tail metaphor is redefined and reshaped in accounting discourse to fit with extant reporting frameworks rather than representing any legally enforceable claim or future liability. It also demonstrates that, as well as functioning symbolically to enable understanding of complex phenomena, the long-tail metaphor can be harnessed as a tool to objectify financial risks and justify corporate strategy.

Suggested Citation

  • Moerman, Lee & van der Laan, Sandra, 2011. "Accounting for long-tail asbestos liabilities: Metaphor and meaning," Accounting forum, Elsevier, vol. 35(1), pages 11-18.
    • Handle: RePEc:eee:accfor:v:35:y:2011:i:1:p:11-18
    DOI: 10.1016/j.accfor.2011.01.002
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    References listed on IDEAS

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    1. Sally Gunz & Sandra Laan, 2011. "Actuaries, Conflicts of Interest and Professional Independence: The Case of James Hardie Industries Limited," Journal of Business Ethics, Springer, vol. 98(4), pages 583-596, February.
    2. David L. Owen & Tracey Swift & Karen Hunt, 2001. "Questioning the Role of Stakeholder Engagement in Social and Ethical Accounting, Auditing and Reporting," Accounting Forum, Taylor & Francis Journals, vol. 25(3), pages 264-282, September.
    3. Walters, Melissa & Young, Joni J., 2008. "Metaphors and accounting for stock options," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 19(5), pages 805-833.
    4. Roberts, John, 1991. "The possibilities of accountability," Accounting, Organizations and Society, Elsevier, vol. 16(4), pages 355-368.
    5. Morgan, Gareth, 1988. "Accounting as reality construction: Towards a new epistemology for accounting practice," Accounting, Organizations and Society, Elsevier, vol. 13(5), pages 477-485, August.
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    1. Moerman, Lee C. & van der Laan, Sandra L., 2012. "Risky business: Socializing asbestos risk and the hybridization of accounting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 23(2), pages 107-116.
    2. Moerman, Lee C. & van der Laan, Sandra L., 2015. "Silencing the noise: Asbestos liabilities, accounting and strategic bankruptcy," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 27(C), pages 118-128.

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