You are here

Home » Content

SERMAYE VE GELİRİN FİNANSALLAŞMASI: 2008 FİNANSAL KRİZİNİN MUHASEBESİ

FINANCIALIZATION CAPITAL AND INCOME: ACCOUNTING OF 2008 FINANCIAL CRISIS

Journal Name:

  • Kahramanmaraş Sütçü İmam Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

Publication Year:

  • 2012

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
Financialization is recognised as a key feature of the 2008 financial crisis. We argue that a lesson is the need for an accounting framework which focuses upon financialization allowing it to be monitored and controlled by stakeholders. We argue that financialization has been permitted through the failure of accounting to distinguish distributable income from capital gains/transfers and to distinguish productive from speculative capital. We introduce an accounting presentation (4S accounting) which effectively makes these distinctions. We use a stylized example to illustrate how it should be applied to the financial reporting of banks.
Bookmark/Search this post with
Abstract (Original Language): 
Finansallaşma 2008 krizinin ana özelliği olarak tanımlanmaktadır. Muhasebe çatısı/taslağı için finansallaşma üzerinde hissedarlar tarafından kontrole ve izlenmeye müsaade eden bir ders gereksinimi değerlendirmekteyiz. Muhasebenin sermaye kazançları/transferlerinden gelen dağıtılabilir geliri ayırt etmede ve spekülatif sermayeden gelen üretkenliği ayırt etmedeki başarısızlığının finansallaşmaya yer hazırladığını tartışmaktayız. Bu ayrımları etkin olarak yapan bir muhasebe sunumunu (4S muhasebesi) takdim etmekteyiz. Bunun bankaların finansal raporlamalarında nasıl tatbik edileceğini uyarlanmış örnekle ortaya koymaktayız.
FULL TEXT (PDF): 
PDF icon arastirmax-sermaye-gelirin-finansallasmasi-2008-finansal-krizinin-muhasebesi.pdf
  • 1
177-190
  • Turkish

REFERENCES

References: 

Andersson, T., Haslam, C., Lee, E., Katechos, G., & Tsitsianis, N. (2010). Corporate strategy
financialized: Conjuncture, arbitrage and earnings capacity in the S&P 500. Accounting Forum,
34(3–4), 211–221.
Andersson, T., Haslam, C., Lee, E., & Tsitsianis, N. (2008). Financialization directing strategy.
Accounting Forum, 32(4), 261–275.
Barth, M. E., & Landsman, W. R. (2010). How did financial reporting contribute to the financial
crisis? European Accounting Review, 19(3), 399–423.
Bromwich, M., MacVe, R., & Sunder, S. (2010). Hicksian income in the conceptual framework.
Abacus, 46(3), 348–376.
Cairns, D. (2010). Accountancy, 145(1399, March), 67.
Elliott, L., & Atkinson, D. (2008). The gods that failed: How blind faith in markets cost us our future.
London: The Bodley Head.
Epstein, G. A. (2005). Financialization and the world economy. Northampton MA: Edward Elgar.
Hatherly, D. (2011). Accounting for distributed cognition. Working paper – available from the
author.
Hatherly, D., Leung, D., & MacKenzie, D. (2008). The finitist accountant. In Swedberg, & Pinch (Eds.),
Living in a material world (pp. 131–160). Boston: MIT Press.
Heilpern, E., Haslam, C., & Andersson, T. (2009). When it comes to the crunch: What are the drivers
of the current banking crisis? Accounting Forum, 33(2), 99–113.
Hicks, J. R. (1946). Value and capital: An inquiry into some fundamental principles of economic
theory. Oxford: Clarendon.
Kay, J. (2004). Ignore the wisdom of accounting at your own risk. Financial Times, (September 7),
21.
Krippner, G. R. (2005). The financialization of the American economy. Socio-Economic Review, 3(2),
173–208.
MacKenzie, D. (2011). The credit crisis as a problem in the sociology of knowledge. American
Journal of Sociology, 116(6), 1778–1841.
Richardson, A. J. (1987). Accounting as a legitimating institution. Accounting, Organizations and
Society, 12(4), 341–355.
Turner, L. A. (Chair) (2009). The Turner review: A regulatory response to the global banking crisis.
London: Financial Services Authority.
UBS (2007). Financial reporting for investors. In UBS investment research: Valuation and
accounting briefing (Stephen Cooper, Analyst). London: UBS (April 16).

Thank you for copying data from http://www.arastirmax.com