Director and shareholder interactions at shareholder meetings: Compromising accountability in the service of colonialism

IF 8.3 2区 管理学 Q1 BUSINESS, FINANCE Critical Perspectives on Accounting Pub Date : 2024-09-10 DOI:10.1016/j.cpa.2024.102763
Niamh M. Brennan , Victoria C. Edgar , Sean Bradley Power
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Abstract

This research explores director and shareholder two-way face-to-face interactions at the shareholder meetings of Cecil Rhodes’s British South Africa Company, as reflected in verbatim minutes of those meetings. Shareholder meetings are traditionally viewed as being for accountability. Alternatively, directors may engage in manipulative game-playing through skillful political maneuvering of shareholders, thereby compromising accountability. The research analyzes unique data, comprising 25 full sets of verbatim meeting minutes of 29 shareholder meetings over the period 1895–1925, using manual close-reading interpretive content analysis. Our unit of analysis is the interactions between directors and supportive/approving and dissenting shareholders. Our research question is how did the directors and shareholders interact at the shareholder meetings. We develop a typology of 16 types of interactions the directors and shareholders used in their exchanges. We complement our analysis with illustrations of types of interactions extracted from our verbatim minutes. We demonstrate how powerful directors mobilized supportive/approving shareholders to quash the dissenting shareholders’ voices. Our findings have implications for how modern-day shareholder meetings are conducted.

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董事与股东在股东大会上的互动:为殖民主义服务的问责制妥协
本研究探讨了塞西尔-罗兹的英属南非公司股东大会上董事和股东面对面的双向互动,这些互动反映在股东大会的逐字记录中。股东大会传统上被视为问责会议。但董事也可能通过巧妙地与股东进行政治博弈,从而损害问责制。本研究采用人工精读解释性内容分析法,对 1895-1925 年间 29 次股东大会的 25 套完整逐字记录进行了独特的数据分析。我们的分析单元是董事与支持/赞成和反对股东之间的互动。我们的研究问题是董事和股东在股东大会上是如何互动的。我们对董事和股东在交流中使用的 16 种互动类型进行了分类。我们通过从逐字记录中提取的互动类型说明来补充我们的分析。我们展示了有权势的董事是如何动员支持/赞成股东压制反对股东的声音的。我们的研究结果对现代股东大会的召开方式具有借鉴意义。
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来源期刊
CiteScore
9.40
自引率
7.80%
发文量
91
期刊介绍: Critical Perspectives on Accounting aims to provide a forum for the growing number of accounting researchers and practitioners who realize that conventional theory and practice is ill-suited to the challenges of the modern environment, and that accounting practices and corporate behavior are inextricably connected with many allocative, distributive, social, and ecological problems of our era. From such concerns, a new literature is emerging that seeks to reformulate corporate, social, and political activity, and the theoretical and practical means by which we apprehend and affect that activity. Research Areas Include: • Studies involving the political economy of accounting, critical accounting, radical accounting, and accounting''s implication in the exercise of power • Financial accounting''s role in the processes of international capital formation, including its impact on stock market stability and international banking activities • Management accounting''s role in organizing the labor process • The relationship between accounting and the state in various social formations • Studies of accounting''s historical role, as a means of "remembering" the subject''s social and conflictual character • The role of accounting in establishing "real" democracy at work and other domains of life • Accounting''s adjudicative function in international exchanges, such as that of the Third World debt • Antagonisms between the social and private character of accounting, such as conflicts of interest in the audit process • The identification of new constituencies for radical and critical accounting information • Accounting''s involvement in gender and class conflicts in the workplace • The interplay between accounting, social conflict, industrialization, bureaucracy, and technocracy • Reappraisals of the role of accounting as a science and technology • Critical reviews of "useful" scientific knowledge about organizations
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