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The integration substitute : the role of controls in managing human asset specificity

Sridharan, Vg and Akroyd, Chris 2011, The integration substitute : the role of controls in managing human asset specificity, Accounting and finance, vol. 51, no. 4, pp. 1055-1086.

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Title The integration substitute : the role of controls in managing human asset specificity
Author(s) Sridharan, Vg
Akroyd, Chris
Journal name Accounting and finance
Volume number 51
Issue number 4
Start page 1055
End page 1086
Publisher Milton, Qld.
Place of publication Wiley-Blackwell Publishing Asia
Publication date 2011-12
ISSN 1467-629X
0810-5391
Keyword(s) human asset specificity
management control
performance evaluation
decision rights
incentives
Summary As the integration solution to the problem of specific assets cannot be replicated on human asset specificity because slavery is illegal, economic theory states that control systems substitute for integration through a balanced structure to help align diverse interests. To understand the intricate design features of the balance, we examine a case-study firm. For low human asset specificity, the restriction and segregation of usable decision rights link with standards. However, incentives are traced to individuals only to the extent task deviations do not create relevant future costs that are difficult to be self-corrected. For high specificity, incentives are related to outputs rather than outcomes, because outcome variations reduce the attractiveness of maintaining the balance. Subjective assessment is used as an efficient alternate ‘balancing’ solution and decision control is shared when available subjective data are inadequate.
Language eng
Field of Research 150399 Business and Management not elsewhere classified
Socio Economic Objective 910499 Management and Productivity not elsewhere classified
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2011, The Authors
Persistent URL http://hdl.handle.net/10536/DRO/DU:30040199

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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Created: Thu, 17 Nov 2011, 14:03:51 EST by Leanne Swaneveld