Big Four and the Development of the Accounting Profession in China

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Big Four and the Development of the Accountin ...
Paul Gillis, Paul Gillis
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August 23, 2020 | History

Big Four and the Development of the Accounting Profession in China

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This study is a historical critical analysis of the role of the transnational professional services firms known as the Big Four in the development of the accounting profession in China. China emerged in the early 1980s after decades of seclusion and began an economic transformation that would make it the world?s second largest economy by 2010. China did not have an accounting profession after the founding of the People's Republic of China in 1949 until the accounting profession restarted in 1980 as the country opened up to foreign investment. The Big Four, as members of the globalizing transnational capital class came to dominate the accounting profession in China with the support of other members of the transnational capital class including investment bankers, international lawyers, and transnational institutions such as the World Trade Organization. Grounded in Marxist theories of class struggle, particularly in Gramsci's theory of hegemony, this study explores how ideology, expressed as normative roles for independent accountants, enabled the Big Four to dominate the market. Using mixed research methods with archival and interview data, this study finds that the Big Four achieved its dominant position through three hegemonic projects: foreign direct investment, the reform of State-owned enterprises through international capital markets, and the enabling of private enterprise to access international capital markets. This study also explains how indigenous accounting firms followed Dutschke's counter-hegemonic strategy of a long march through the institutions that reformed the domestic accounting profession and gave it access to the coercive power to the state to challenge the hegemony of the Big Four. This study finds that the globalization of accounting markets leads to regulatory holes, gaps in the transnational regulation of accounting firms. This study provides recommendations to the Big Four, indigenous firms, and local and transnational regulators.

Publish Date
Language
English
Pages
368

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Edition Availability
Cover of: Big Four and the Development of the Accounting Profession in China
Big Four and the Development of the Accounting Profession in China
2014, Emerald Publishing Limited
in English
Cover of: Big Four and the Development of the Accounting Profession in China
Big Four and the Development of the Accounting Profession in China
2014, Emerald Publishing Limited
in English
Cover of: The Big Four And The Development Of The Accounting Profession In China
The Big Four And The Development Of The Accounting Profession In China
2013, Emerald Group Publishing Limited
in English

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Book Details


Classifications

Library of Congress
HF5601-5689

Edition Identifiers

Open Library
OL29221839M
ISBN 13
9781783504862

Work Identifiers

Work ID
OL17451061W

Source records

Better World Books record

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August 23, 2020 Created by ImportBot Imported from Better World Books record