The adoption of an accounting innovation in France: The case of consolidated financial statements at Pechiney (1956–1971)
Bensadon, Didier (2015), The adoption of an accounting innovation in France: The case of consolidated financial statements at Pechiney (1956–1971), Accounting History, 20, 3, p. 288-309. 10.1177/1032373215585821
TypeArticle accepté pour publication ou publié
Journal nameAccounting History
MetadataShow full item record
Dauphine Recherches en Management [DRM]
Abstract (EN)Academic publications on the adoption of accounting innovations, such as consolidated accounts, have primarily focused on countries that use accounting methods developed in the USA, Australia and the UK. This article examines why Pechiney, a French company of international standing, adopted consolidated accounts in France during the 1960s. The findings indicate that Pechiney, aware that the production of consolidated financial statements was one of the criteria for acceptance, opted for consolidation in a bid to ensure that the company would be listed on the New York Stock Exchange. But this was not the only motivation. Firstly, Pechiney’s board of directors wanted to strengthen the parent company’s control over its subsidiaries by imposing consolidation procedures. Secondly, by acquiring expertise in the domain, the board hoped to exert substantial influence over the Conseil national de la comptabilité (French accounting standards authority) as and when this body was ready to introduce financial consolidation regulations.
Subjects / KeywordsAccounting innovation; Adoption; Consolidated financial statements; Group accounts; Pechiney; France
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Organisational Analysis and Management Tool at Pechiney Ugine Kuhlmann: the Audit and Consolidated Accounts Department's "Grey Brochure", 1971-1982 (1971-1982) Bensadon, Didier (2010) Article accepté pour publication ou publié