Privatization and management accounting systems change : the case of the 19th century Spanish tobacco monopoly
AbstractThis paper examines changes to the accounting system of the Spanish tobacco monopoly in 1887, following the decision by the state to lease the publicly owned and state-run monopoly to a privatesector company. The switch to private-sector management generated a fundamental change in the demands made of the accounting system. As a result, double-entry bookkeeping and a new method of calculating costs were implemented. The paper discusses the motives behind the design of the new accounting system and its consequences using the framework provided by agency theory. It highlights the need to consider the role of the capital structure of the firm and the state as explanatory factors for both the parameters and uses of cost accounting information.
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Bibliographic InfoPaper provided by Universidad Carlos III de Madrid in its series Open Access publications from Universidad Carlos III de Madrid with number info:hdl:10016/12655.
Length: 59 p.
Date of creation: Dec 2002
Date of revision:
Publication status: Published in Accounting Historians Journal (2002-12) v.v. 29, p.31-57
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Web page: http://www.uc3m.es
Privatización; Monopolio; Tabaco; España; S. XIX;
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- Lepore, Amedeo, 2005. "Sulle origini, sull'evoluzione e sullo stato dell'arte della Storia della Contabilità in Spagna. (Origin, evolution and state of the art of Accounting History in Spain)," De Computis "Revista Española de Historia de la Contabilidad". De Computis "Spanish Journal of Accounting History"., Asociación Española de Contabilidad y Administración de Empresas (AECA). Spanish Accounting and Business Administration Association., issue 3, pages 33-71, December.
- Salvador Carmona, 2003. "Outsourcing as Compassion? The Case of the Manufacture of Cigarettes by Poor Catholic Nuns 1817-1819," Working Papers Economia wp03-09, Instituto de Empresa, Area of Economic Environment.
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