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Financialisation of the professional services firm: strategy, governance and the lived experience of partners

Research output: ThesisDoctoral Thesis

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Financialisation of the professional services firm : strategy, governance and the lived experience of partners. / Allan, Scott.

Lancaster University, 2016. 302 p.

Research output: ThesisDoctoral Thesis

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@phdthesis{506a2e6751524c879cd4346adc665ea5,
title = "Financialisation of the professional services firm: strategy, governance and the lived experience of partners",
abstract = "This thesis aims to understand the effects of “financialisation” on the strategy and governance of the contemporary UK professional services firm (PSF) and the lived experience of its partners. The study is placed in the context of change, externally in the regulation and competitive environment of PSFs, and internally in terms of the commercialisation of the PSF and the adoption of financial logics. In an ethnographic case study undertaken within a cultural economy perspective this thesis reveals firstly how PSF strategy has been financialised. Secondly, it identifies how an ecology of strategic and tactical measures are put to use in support of the firm{\textquoteright}s strategy, exemplifying the role of accounting as the agent of financialisation and as the enabler of financial governance. Thirdly, complementing accounting, HRM technologies are shown to be employed to make partners and potential partners known, calculable, comparable and governable. Working together, accounting and HRM technologies create an ecology of power which offers partners a subjectivity privileging and supporting the financialised strategy of the PSF, and rendering each partner a tool of strategy implementation and thereby financialisation. Fourthly, this thesis investigates the lived experience of partners in the financialised PSF revealing fears, anxieties, tensions and contradictions.",
keywords = "Financialization, professional services firms, Professions, Strategy, Governance, lived experience, Power, Control, Subjectivity, HRM, Identity",
author = "Scott Allan",
year = "2016",
language = "English",
publisher = "Lancaster University",
school = "Lancaster University",

}

RIS

TY - THES

T1 - Financialisation of the professional services firm

T2 - strategy, governance and the lived experience of partners

AU - Allan, Scott

PY - 2016

Y1 - 2016

N2 - This thesis aims to understand the effects of “financialisation” on the strategy and governance of the contemporary UK professional services firm (PSF) and the lived experience of its partners. The study is placed in the context of change, externally in the regulation and competitive environment of PSFs, and internally in terms of the commercialisation of the PSF and the adoption of financial logics. In an ethnographic case study undertaken within a cultural economy perspective this thesis reveals firstly how PSF strategy has been financialised. Secondly, it identifies how an ecology of strategic and tactical measures are put to use in support of the firm’s strategy, exemplifying the role of accounting as the agent of financialisation and as the enabler of financial governance. Thirdly, complementing accounting, HRM technologies are shown to be employed to make partners and potential partners known, calculable, comparable and governable. Working together, accounting and HRM technologies create an ecology of power which offers partners a subjectivity privileging and supporting the financialised strategy of the PSF, and rendering each partner a tool of strategy implementation and thereby financialisation. Fourthly, this thesis investigates the lived experience of partners in the financialised PSF revealing fears, anxieties, tensions and contradictions.

AB - This thesis aims to understand the effects of “financialisation” on the strategy and governance of the contemporary UK professional services firm (PSF) and the lived experience of its partners. The study is placed in the context of change, externally in the regulation and competitive environment of PSFs, and internally in terms of the commercialisation of the PSF and the adoption of financial logics. In an ethnographic case study undertaken within a cultural economy perspective this thesis reveals firstly how PSF strategy has been financialised. Secondly, it identifies how an ecology of strategic and tactical measures are put to use in support of the firm’s strategy, exemplifying the role of accounting as the agent of financialisation and as the enabler of financial governance. Thirdly, complementing accounting, HRM technologies are shown to be employed to make partners and potential partners known, calculable, comparable and governable. Working together, accounting and HRM technologies create an ecology of power which offers partners a subjectivity privileging and supporting the financialised strategy of the PSF, and rendering each partner a tool of strategy implementation and thereby financialisation. Fourthly, this thesis investigates the lived experience of partners in the financialised PSF revealing fears, anxieties, tensions and contradictions.

KW - Financialization

KW - professional services firms

KW - Professions

KW - Strategy

KW - Governance

KW - lived experience

KW - Power

KW - Control

KW - Subjectivity

KW - HRM

KW - Identity

M3 - Doctoral Thesis

PB - Lancaster University

ER -