{"title":"The Role of Offshore Financial Centres in Globalization","authors":"P. Sikka","doi":"10.1046/J.1467-6303.2003.T01-2-00111.X","DOIUrl":"https://doi.org/10.1046/J.1467-6303.2003.T01-2-00111.X","url":null,"abstract":"Capitalism is inherently crisis-ridden, but shows little sign of exhausting itself. It continues to develop new ways of reinvigorating itself and generating economic returns for capital. Globalization is considered to be the most advanced phase of capitalism. The Offshore Financial Centres (OFCs; also known as tax havens) are an integral part of globalization. They facilitate growing mobility of finance by providing no/low tax, no/low regulation, secrecy and anonymity to enable footloose capital to roam the world. Their policies play a key role in tax avoidance/evasion, money laundering, flight of capital, degradation of regulation, instability and economic underdevelopment, and have serious consequences for people everywhere. Professional intermediaries, such as accountants and lawyers, play a key role in the development and expansion of OFCs. Despite the veneer of liberal democracy, some OFCs are captured by the finance industry and advance the interests of financial capital. Many OFCs are nurtured and protected by leading Western hegemons with developed capital and financial markets. This paper encourages scholars to study the operations, functions, policies and politics of OFCs by drawing attention to their significance and impact on societies.","PeriodicalId":138227,"journal":{"name":"Blackwell: Accounting Forum (Archive)","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114769510","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Enhancing Organizational Global Hegemony with Narrative Accounting Disclosures: An Early Example","authors":"Jeffrey Unerman","doi":"10.1046/J.1467-6303.2003.T01-1-00113.X","DOIUrl":"https://doi.org/10.1046/J.1467-6303.2003.T01-1-00113.X","url":null,"abstract":"Transnational corporations (TNCs) have been an important element in the development of globalisation practices. This paper explores politically related narrative accounting disclosures made by an early TNC (Shell), and analyses how these disclosures might have been used as part of a strategy aimed at protecting and enhancing the political and economic hegemony of Shell (and other oil industry TNCs) in relation to the power of nation states, at a time when Shell was transforming into a TNC. Using a theoretical framework drawn from classical political economy of accounting, it identifies patterns of disclosure consistent with a corporate strategy of protecting and advancing the power and wealth of capital in a global corporation with little regard to the impact this might have had on individual states.","PeriodicalId":138227,"journal":{"name":"Blackwell: Accounting Forum (Archive)","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130392731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Accounting for Public Private Partnerships","authors":"Darrin Grimsey, M. Lewis","doi":"10.1111/1467-6303.00089","DOIUrl":"https://doi.org/10.1111/1467-6303.00089","url":null,"abstract":"A public-private partnership (PPP) can be defined as a cooperative arrangement between the public and private sectors for the sharing of the risks and responsibilities for the provision of asset-based (infrastructure) services. The long-term contractual nature of the business relationship leads to difficult financial issues, related to taxation, cash flow budgeting and disclosure rules. In addition, the number of entities with an interest in the outcome puts a premium on accountability in the broad sense. Neither traditional models of public sector accountability nor those developed for private sector entities are adequate. A new paradigm is required which takes into account the complexity of the risk-sharing mechanisms and identifies clearly the rights and responsibilities of the various partners.","PeriodicalId":138227,"journal":{"name":"Blackwell: Accounting Forum (Archive)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126494702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}