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Accounting & Financial Management

We explore how money flows through organisations, the economy, and society. Our approach embraces a wide range of perspectives, including sociology, economics, political science, and economic geography.

Our work fits into four broad themes:

Accounting and corporate governance

Our current research in this area looks at the links between executive pay, board composition and firm performance. We also explore the dynamics of pension accounting from the perspective of both the organisation and the employees. Another key area is the role of institutional investors in corporate governance.

Commensurability and accountability

We challenge how realistic it is for accounting to remain objective. For example, we look at how people try to account for things like the construction and dissolution of nations, access to medicine, or the preservation of public spaces.

Part of our work involves exploring the various meanings of 'audit quality'. We also explore how organisations mediate relationships with stakeholders, through financial reporting or other types of accounting, like Corporate Social Responsibility.

Financial management and investments

In this area of our research, we look at:

  • the relationship between dividend policies and the cost of capital
  • mergers and acquisitions
  • real options theory
  • optimal decision making
  • default risk and bankruptcy
  • the functioning of derivatives markets

We explore corporate finance from both an economic and social science angle. For example, from a social science perspective, we investigate how financial actors (from equity analysts to fund managers) behave in different empirical settings. Our research looks at how investment decisions are made – and how they’re increasingly mediated by technology.

Valuation and financial reporting

We’ve been charting the ways financial reporting helps capital markets to function. This involves research into equity valuation, accounting standards, and the production and use of fundamental analysis. We assess the quality of financial reports and how users react to them.


The Accounting & Financial Management group regularly holds research seminars


Professor Paul Guest 

Head of Accounting and Financial Management Group


Academic members

PhD students

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