{"title":"Capitalism and the return on capital employed. Some further evidence","authors":"","doi":"10.1016/j.bar.2024.101320","DOIUrl":null,"url":null,"abstract":"<div><div>Return on capital employed is recognised both as a symbol of capitalism and as a calculation designed to help achieve the more effective deployment of available resources. Dating the emergence of this ‘accounting signature’ has been the subject of vigorous debate. Rob Bryer believes that calculation of the return on capital employed played a meaningful role in business life from the eighteenth century onwards whereas Steven Toms (2006, p. 206) finds scant evidence of the existence of this emblem of a capitalist mentality until ‘much later’. This paper seeks to contribute to this debate based on the contents of the Spencer Stanhope archive, Eighteenth Century Collections Online and UK Parliamentary Papers.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":null,"pages":null},"PeriodicalIF":5.5000,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"British Accounting Review","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0890838924000209","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
Return on capital employed is recognised both as a symbol of capitalism and as a calculation designed to help achieve the more effective deployment of available resources. Dating the emergence of this ‘accounting signature’ has been the subject of vigorous debate. Rob Bryer believes that calculation of the return on capital employed played a meaningful role in business life from the eighteenth century onwards whereas Steven Toms (2006, p. 206) finds scant evidence of the existence of this emblem of a capitalist mentality until ‘much later’. This paper seeks to contribute to this debate based on the contents of the Spencer Stanhope archive, Eighteenth Century Collections Online and UK Parliamentary Papers.
期刊介绍：
The British Accounting Review*is pleased to publish original scholarly papers across the whole spectrum of accounting and finance. The journal is eclectic and pluralistic and contributions are welcomed across a wide range of research methodologies (e.g. analytical, archival, experimental, survey and qualitative case methods) and topics (e.g. financial accounting, management accounting, finance and financial management, auditing, public sector accounting, social and environmental accounting; accounting education and accounting history), evidence from UK and non-UK sources are equally acceptable.
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