Affect and reason in uncertain accounting settings: The case of capital investment appraisal

IF 3.1 4区管理学 Q2 BUSINESS, FINANCE

Accounting and Finance Pub Date : 2023-11-05 DOI:10.1111/acfi.13185

Paul Andon, Jane Baxter, Wai Fong Chua

引用次数: 0

Abstract

Abstract Affect is generally characterised as distinct from, and detrimental to, reason in investment appraisal. This paper, in contrast, illustrates that affect is integral to reasoning, particularly when uncertainty disturbs investment appraisal. Investment appraisals produce uncertain projections about the future, which generate discomfort. This causes actors to undertake adaptive activities to craft calculations they can become comfortable with, which we characterise as epistemic participation and shaping the politics of expectations . These activities constitute a dualistic fusion of comfort and reason: discomfort initiates and informs reasoning to regain comfort. We further show the effects of the laborious efforts accompanying this accretion of both knowledge and comfort. Our arguments are supported by an analysis of investment appraisal for a 30‐year capital project.

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不确定会计环境的影响与原因:以资本投资评估为例

在投资评估中，情感通常被认为是与理性相区别、相违背的。相反，本文说明了影响是推理的组成部分，特别是当不确定性干扰投资评估时。投资评估对未来产生了不确定的预测，这让人感到不安。这导致参与者进行适应性活动，以精心设计他们可以感到舒适的计算，我们将其描述为认知参与和塑造期望政治。这些活动构成了舒适和理性的二元融合:不适引发并告知理性以重新获得舒适。我们进一步展示了伴随知识和舒适的增加而来的艰苦努力的效果。我们的论点得到了对一个30年资本项目的投资评估分析的支持。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounting and Finance BUSINESS, FINANCE-

CiteScore

5.10

自引率

7.70%

发文量

期刊介绍： Accounting & Finance enjoys an excellent reputation as an academic journal that publishes articles addressing significant research questions from a broad range of perspectives. The journal: • publishes significant contributions to the accounting, finance, business information systems and related disciplines • develops, tests, or advances accounting, finance and information systems theory, research and practice • publishes theoretical, empirical and experimental papers that significantly contribute to the disciplines of accounting and finance • publishes articles using a wide range of research methods including statistical analysis, analytical work, case studies, field research and historical analysis • applies economic, organizational and other theories to accounting and finance phenomena and publishes occasional special issues on themes such as on research methods in management accounting. Accounting & Finance is essential reading for academics, graduate students and all those interested in research in accounting and finance. The journal is also widely read by practitioners in accounting, corporate finance, investments, and merchant and investment banking.