How Audited Financial Statements Facilitated Shareholder Activism for the Colonization of Western Canada

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2019-08-01 DOI:10.2308/AAHJ-52527

Gary P. Spraakman, A. Kemper, Ken Ogata

引用次数: 1

Abstract

In 1863, ownership of the Hudson's Bay Company (HBC) was transferred from a small group of patient shareholders to a much larger group of rent-seeking investors. These new shareholders obliged the HBC to introduce audited financial statements beginning in 1866. These shareholders assumed that audited financial statements were credible artifacts for sharing in the HBC's wealth (by facilitating the sale of the HBC's Charter to the Canadian Government, thereby enabling the creation of Western Canada). This paper contributes to the literature by showing how audited financial statements enable shareholders to become more knowledgeable about a company's prospects through emancipatory accounting, and thereby to be more demanding of management for performance. The underlying conjecture that financial statement knowledge leads to shareholder activism was not disproved.

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审计财务报表如何促进加拿大西部殖民化的股东激进主义

1863年，哈德逊湾公司(HBC)的所有权从一小群耐心的股东转移到一个更大的寻租投资者群体。这些新股东迫使HBC从1866年开始引入经审计的财务报表。这些股东认为，经过审计的财务报表是分享HBC财富的可靠工具(通过促进将HBC的宪章出售给加拿大政府，从而使加拿大西部的创建成为可能)。本文通过展示经审计的财务报表如何使股东通过解放会计更了解公司的前景，从而对管理层的绩效提出更高的要求，从而为文献做出了贡献。财务报表知识导致股东激进主义的基本猜想并未被推翻。

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

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.