دانلود رایگان مقاله انگلیسی فرایند بودجه بندی سرمایه و Trilemma انرژی - الزویر 2018

ABSTRACT

This paper examines capital budgeting and its role in the ‘energy trilemma’. The key focus is on the role of knowledgeable agency in the analysis of strategic conduct. In particular, this study demonstrates how accounting tools can be used by executive managers, who, whilst dominant in their own organisations, are themselves subordinate to government in the United Kingdom and at the European level. The strategic conduct of actors is examined in a narrative, theorised case study setting spanning an 11-year period from 2006 to 2017. The principal contribution to knowledge from this study is the extent to which strategic investment accounting has played a role in changing regulatory and government policy in a privatised industry. Government and regulators were forced to take the generators' concerns seriously, because the generators (based on knowledge derived from capital budgets) restricted their capital expenditure rather than mobilising their resources. The generators highlighted that not only was this a problem of environmental sustainability and price for consumers, but also one of long-term supply. They argued that the government had to address all aspects of the trilemma when creating policy.

Conclusions

This case study has demonstrated how the strategic conduct of the generators included using accounting to produce change in the structure, knowledgeability and processes of the market. The case study also shows that the concept of a dialectic of control allowed generators within the electricity generation industry to demand reconstruction and revision of the market structure relative to investment. The paper also demonstrates how the Government and regulators were forced to take the concerns of the generators seriously due to an investment hiatus. Rather than mobilising their resources, the generators held their capital back. The need for resources to tackle emissions provided the industry with sufficient evidence to force the Government to consider the problem of energy as not just one of the price paid by consumers, but also of long-term supply and environmental sustainability, demanding further investment. The knowledgeability of the generators also played an essential role in effecting change in the rules and structures of the markets within which they operate - rules and resources that impact investment directly. However, recent changes in the energy markets arising from the falling prices of oil, and pressure for renewable resources, means the value and use of capital budgeting by managers and the Government should be kept under observation by researchers to enable the structuration processes in accounting practice to be understood more fully, particularly in industrial contexts.