Financial crises and scandals have focused attention on received systems of corporate governance and disclosure in a way many may never have imagined and few welcomed. Not only do reforms deems to be necessary to protect stakeholders, including shareholders, but also a different understanding of...

In the last three decades, corporate governance and reporting have been confronted to a drift toward shareholders' primacy and value, and the revival of old-fashioned proprietary views against entity views on the business firm. This paper develops an accounting perspective of the relationship...