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Futures—and Still More Complexity

In: Development Models, Globalization and Economies

Author

Listed:
  • John B. Kidd
  • Frank-Jürgen Richter

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.

Suggested Citation

  • John B. Kidd & Frank-Jürgen Richter, 2006. "Futures—and Still More Complexity," Palgrave Macmillan Books, in: John B. Kidd & Frank-Jürgen Richter (ed.), Development Models, Globalization and Economies, chapter 13, pages 219-229, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52355-5_13
    DOI: 10.1057/9780230523555_13
    as

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