The paper will refer to GB when discussing investment problems because Ireland has a separate energy system, which is regulated by its own body. 2 DECC is a department called the 'Department of Energy and Climate Change'. 3 Ofgem-Office for Gas and Electricity Markets. 4 Department that was created after DECC. DEBIS is the 'Department of Energy, Business and Industrial Strategy'.
Although accepting that the Discounted Cash Flow model of investment appraisal has well known technical limitations, researchers have begun to explore its performative properties. This paper demonstrates how the Discounted Cash Flow model frames negotiations between actors around narratives of economization, marketization and financialization in a regulated industry. Reconnecting economics and politics, the theory of Cultural Political Economy is used to interpret and evaluate an empirical study of Great Britain's electricity generating industry. Although alternative imaginaries, based on political and employment goals, have historically influenced investment decision making in the industry, the current narrative of investment appraisal is dominated by Discounted Cash Flow models. These models have allowed industry players to construct imaginaries of an investment hiatus, leading to the possibility of future power cuts and blackouts, and a need for guaranteed prices.
In October 2012, during the early planning stages of this volume, the members of the Management Control Association were saddened to hear of the untimely death of Professor Clive Emmanuel of the University of Glasgow, where he had worked since 1997 until his retirement just a year before his death. Clive had been a long-standing member of the Association and will be particularly remembered for the contributions he made to running the doctoral programmes which now take place immediately before the triennial conferences. His enthusiasm, collegial attitude and friendly disposition will be remembered by us all.A full obituary was published in Management Accounting Research in March 2013 and is reprinted here. In addition, a special issue in Management Accounting Research published in June 2013 was also dedicated to Clive's memory. Finally, the second chapter consists of a review of his contribution to the literature on transfer pricing by Martine Cools who had worked extensively with him in recent years.This volume is dedicated to his memory.
Much is being written on the management accountant's role as a business partner, yet most of the literature to date is a-critical. This article aims to make a modest contribution towards a more rounded and circumspect view of the phenomenon. Is it actually organisations that promote such change? And could changing the roles endanger organisational performance?
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