Precarious Investments and Blame Gaming – Adverse Effects and the Inherent Danger of Simplification

Financial Accountability and Management

Volumn 32, Issue 3, 2016, Pages 281-308

  Gårseth Nesbakk, Levi ^a   Kjærland, Frode ^a  

^a NONE

Author keywords

actor network theory; blame game; financial crisis; municipalities; punctualization

Indexed keywords

EID: 84978967778     PISSN: 02674424     EISSN: 14680408     Source Type: Journal    
DOI: 10.1111/faam.12097     Document Type: Article

References (84)

1. Aalbers, M. (2009), ‘Geographies of the Financial Crisis’, Area, Vol. 41, No. 1, pp. 34–42.
2. Aftenbladet (2007), ‘One for All, All for One' (in Norwegian), Aftenbladet.no (27 September).
3. Alcouffe, S., N. Berland and Y. Levant (2008), ‘Actor-Networks and the Diffusion of Management Accounting Innovations: A Comparative Study’, Management Accounting Research, Vol. 19, pp. 1–17.
4. Bjørndal, B. (2007a), ‘Could Have Prevented the Bankruptcy’ (in Norwegian), DN.no (19 December).
5. Bjørndal, B. (2007b), ‘Could Have Saved the Pieces’ (in Norwegian), DN.no (30 November).
6. Bjørndal, B. (2007c), ‘Terra Left Us No Choice’ (in Norwegian), Multimedia.dn.no (3 December).
7. Bjørndal, B. (2007d), ‘Narvik Regrets Nothing’ (in Norwegian), DN.no (30 November).
8. Blinder, A. S. (2013), After the Music Stopped: The Financial Crisis, the Response and the Work Ahead (The Penguin Press, New York).
9. Byberg, Ø. (2007a), ‘The Municipalities Have a Responsibility on Their Own’ (in Norwegian), Hegnar.no (23 November).
10. Byberg, Ø. (2007b), ‘Sissener: Attacking a Broker is to Stretch the Rubber Band Extremely Far’ (in Norwegian), HegnarOnline (12 December).
11. Claessens, S., G. Dell'Ariccia, D. Igan and L. Laeven (2010), ‘Lessons and Policy Implications from the Global Financial Crisis’, IMF Working Paper.
12. Cooper, R. (1992), ‘Systems and Organizations: Distal and Proximal Thinking’, Systems Practice, Vol. 5, pp. 373–77.
13. Daníelsson, J. (2008), ‘Blame the Models’, Journal of Financial Stability, Vol. 4, pp. 321–28.
14. Deal, K., J. Kamnikar and E. Kamnikar (2009), ‘A Descriptive Case Study of the Green County, Alabama Bankruptcy’, Journal of Public Budgeting, Accounting & Financial Management, Vol. 21, No. 3, pp. 337–65.
15. DN.no (2007), ‘Halvorsen Enters the Stage in the Terra-scandal’, (in Norwegian), DN.no (21 November).
16. DN.no (2012), ‘Considerable Cost Overruns in the Terra-Case’ (in Norwegian), DN.no (1 February).
17. DN.no (2013), ‘The Lawyer Meter Runs for the Terra Municipalities’ (in Norwegian), DN.no (19 February).
18. DN.no (2014), ‘Last Chance for Terra Lawsuit’ (in Norwegian), DN.no (31 January).
19. DN (2014), ‘Demands [NOK] 100M’ (in Norwegian), Dagens Næringsliv (24 January), p. 20.
20. Douglas, M. (1992), Risk and Blame – Essays in Cultural Theory (Routledge, Oxford).
21. Dugstad, L. and A. Flæte (2015), ‘The Lawyer Feast’ (in Norwegian), DN.no (20 March).
22. Fischbacher-Smith, D. and M. Fischbacher-Smith (2014), ‘What Lies Beneath? The Role of Informal and Hidden Networks in the Management of Crisis’, Financial Accountability & Management, Vol. 30, No. 3, pp. 259–78.
23. Fox, J. (2008), ‘The Financial Crisis Blame Game’, Time.com (31 December).
24. Fremover (2007), ‘We Will Contribute if We Have to’ (in Norwegian), Fremover.no (26 November).
25. Fremover (2009), ‘The Municipalities Bluffed About Their Terra Victory’ (in Norwegian), Fremover (7 September).
26. Gulseth, H.L. and S.H. Sæbø (2007), ‘Terra Returns [NOK] 150M’ (in Norwegian), Dagbladet.no (26 November).
27. Hagen, G.A. (2008), ‘The Terra Brokers Keep Their Houses and Cabins’ (in Norwegian), DN.no (4 January).
28. Hansen, H.C., A. Forbord and R. Marthinsen (2007), ‘Lost [NOK] 245 Terra-Millions’ (in Norwegian), RanaBlad.no (10 December).
29. HegnarOnline (2007), ‘The Banks are the Key to the Terra-Solution’ (in Norwegian), Hegnaronline.no (23.11.07).
30. Henriksen, Ø. (2007), ‘The Best Quotes of the Year’ (in Norwegian), E24.no (24 December).
31. Hofstad, M. (2007), ‘Municipalities Gambled With Their Family Silver and Got: A Shocking Bill of €12.5M’, Finansavisen (31 October).
32. Hofstad, M. (2008a), The Adventure Circumstancing Terra and the Eight Small Municipalities That Went to Wall Street to Get Rich (in Norwegian) (Hegnar Media AS, Oslo).
33. Hofstad, M. (2008b), ‘Method Report’ (in Norwegian), (Oslo) (21 January).
34. Hood, C. (2007), ‘What Happens When Transparency Meets Blame-Avoidance?’, Public Management Review, Vol. No. 2, pp. 191–210.
35. Hood, C. (2011), Blame Game: Spin, Bureaucracy, and Self-Preservation in Government (Princeton University Press, Princeton).
36. Hull, J.C. (2011), Options, Futures, and Other Derivatives (8th ed., Prentice Hall, Boston).
37. Hunstadnes, H. (2014), ‘[NOK] 40M Have Been Cashed in on the Terra-Scandal — and it is Not Over Yet’ (in Norwegian), Dagbladet.no (6 March).
38. Jacobsen, F. (2007), ‘What Matters Now is Being Stupid’ (in Norwegian), VG.no (22 November).
39. Klassekampen (2007), ‘Did Not Understand What We Were Doing’ (in Norwegian), Klassekampen (21 November).
40. Knobloch-Westerwick, S. and L.D. Taylor (2008), ‘The Blame Game: Elements of Causal Attribution and its Impact on Sliding with Agents in the News’, Communication Research, Vol. 35, No. 6, pp. 723–44.
41. Kommunal rapport (2007a), ‘The Municipalities Place Their Faith in the Local Banks’ (in Norwegian), Kommunal rapport.no (28 November).
42. Kommunal rapport (2007b), ‘Much Sympathy, But no Money to the Municipalities’ (in Norwegian), Kommunal-rapport.no (30 November).
43. Kommunal rapport (2007c), ‘The Municipalities were Prepared for Terra's Collapse’ (in Norwegian), Kommunal-rapport.no (28 November).
44. Kommunal rapport (2007d), ‘The Municipalities from Nordland will Hardly Make Additional Payments’ (in Norwegian), Kommunal-rapport.no (28 November).
45. Latour, B. (1999), ‘On Recalling ANT,’ in J. Law and J. Hassard (eds.), Actor Network Theory: And After (Blackwell Publishing, Oxford), pp. 15–25.
46. Latour, B. (2005), Reassembling the Social — an Introduction to Actor-Network-Theory (Oxford University Press Inc., New York).
47. Law, J. (1992), ‘Notes on the Theory of the Actor-Network: Ordering, Strategy, and Heterogeneity’, Systems Practice, Vol. 5, pp. 379–93.
48. Law, J. (1999), ‘After ANT: Complexity, Naming and Topology,’ in J. Law and J. Hassard (eds.), Actor Network Theory: And After (Blackwell Publishing, Oxford), pp. 1–14.
49. Law, J. (2009), ‘Actor Network Theory and Material Semiotics,’ in B.S. Turner (ed.), The New Blackwell Companion to Social Theory (John Wiley & Sons Ltd., Chichester), pp. 141–58.
50. Lindeberg, A. (2007), ‘Terra Villains Do Not Admit to any Wrongdoing’ (in Norwegian), DN.no (29 November).
51. Lorentsen, N.I. (2007), ‘Will Probably Say No to the Terra-Offer’ (in Norwegian), Helgelendingen (helg.no) (27 November).
52. Lydersen, T. (2007), ‘Not Good Enough for Us’ (in Norwegian), E24.no (27 November).
53. Lyngmoe, H. (2009), ‘Were Not Duped by the Banks’ (in Norwegian), Nrk.no/Nordland (2 October).
54. Lysvold, S. (2008), ‘Lost Against the Terra-Brokers’ (in Norwegian), Nrk.no (4 January).
55. Mathiassen, H. (2007), ‘The Investments Represent No Losses’ (in Norwegian), Ranablad.no (31 October).
56. Mortreuil, L. (2010), ‘The Current Crisis: Who is to Blame?’, Journal of Management Development, Vol. 29, Nos. 7/8, pp. 646–51.
57. Nettavisen (2009), ‘A Grand Lawyer-Bill after the Terra-Incident’ (in Norwegian), Nettavisen.no, na24 (9 September).
58. Norvald, H. (2007), ‘Terra Boss is Puzzled by the Municipalities’ Disclaimer’ (in Norwegian), Nrk.no (14 December).
59. NRK.no (2008), ‘Does Not Get Money from the Terra-Group’ (in Norwegian), Nrk.no (23 September).
60. Oslo Stock Exchange (2015), ‘Settlement Between DNB and Municipalities’, NewsWeb (5 June), (accessed 31 July, 2015: http://www.newsweb.no/newsweb/search.do?messageId=379729).
61. Pani, E. and N. Holman (2014), ‘A Fetish and Fiction of Finance: Unraveling the Subprime Crisis’, Economic Geography, Vol. 90, No. 2, pp. 213–35.
62. Pedersen, C. (2007), ‘Terra Securities has Filed for Bankruptcy’ (in Norwegian), Nordlys.no (28 November).
63. Peters, B.G., J. Pierre and T. Randma-Liiv (2011), ‘Global Financial Crisis, Public Administration and Governance: Do New Problems Require New Solutions?’, Public Organization Review, Vol. 11, No. 1, pp. 13–27.
64. PricewaterhouseCoopers [PwC] (2008), ‘Scrutiny Report: the ‘Terra-case’ in Rana Municipality’ (in Norwegian), PricewaterhouseCoopers AS, Gransking (10 June), Oslo.
65. Ringodd, H.I. and K.E. Øren, (2007), ‘Preaches Transparency — Practices Secrecy’(in Norwegian), Haugesunds Avis (h-avis.no) (1 December).
66. Rørstad, O.M. (2015), ‘The Definite Loss for the Terra-Municipalities’ (in Norwegian), Nrk.no (5 June).
67. Saunders, M., P. Lewis and A. Thornhill (2000), Research Methods for Business Students (2nd ed., Pearson Education Limited, Harlow).
68. Schiller, R.J. (2008), The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do About It (Princeton University Press, Princeton).
69. Schwartz, A. (2012), ‘How Publics Use Social Media to Respond to Blame Games in Crisis Communication: The Love Parade Tragedy in Duisburg 2010’, Public Relations Review, Vol. 38, No. 3, pp. 430–37.
70. Siem, B. and E.E. Vengen (2010), ‘Terra-Lawyers Earned a Lot of Money’ (in Norwegian), Nrk.no (23 November).
71. Sivertsen, M. (2008), ‘We Will Make DnB NOR the Terra-Loser’ (in Norwegian), Na24.no (8 September).
72. Skærbæk, P. and M. Christensen (2015), ‘Auditing and the Purification of Blame’, Contemporary Accounting Research (online), Vol. 32, No. 3, pp. 1263–84.
73. Smaalenene (2007), ‘Only Losers in the Aftermath of the Terra Bankruptcy’ (in Norwegian), Smaalenene.no (28 November).
74. Solend, P.E., H. Hustadnes and U.A. Andersén (2007), ‘Inflated Terra's Debt before the Bankruptcy’ (in Norwegian), Dagbladet.no (30 November).
75. Sparre, M.R. (2007), ‘Sit Still in the Boat!’ (in Norwegian), DN.no (16 October).
76. Statistics Norway (2014), (retrieved 15 November, from: https://www.ssb.no/statistikkbanken/selectvarval/Define.asp?subjectcode=&ProductId=&MainTable=Rd1222Kv&nvl=&PLanguage=1&nyTmpVar=true&CMSSubjectArea=befolkning&KortNavnWeb=folkendrkv&StatVariant=&checked=true).
77. Stavrum, G. (2007), ‘Criminally Stupid’ (in Norwegian), Nettavisen.no (Nett på Sak) (26 November).
78. Sættem, J.B. (2008), ‘The Terra Debt Grows with the Speed of a Rocket’ (in Norwegian), Nrk.no (11 November).
79. Takla, E. (2007), ‘Increased Likelihood of a Lawsuit’ (in Norwegian), DN.no (26 November).
80. VG.no (2008a), ‘The Terra Municipalities May Recover Fully’ (in Norwegian), VG.no (9 September).
81. VG.no (2008b), ‘Does Not Believe that the Municipalities Get their Money Back’ (in Norwegian), VG.no (15 January).
82. Villalobos, R.I. and M. Oppedal (2011), ‘Haugesund Municipality Has Now Paid the Terra-Bill’ (in Norwegian), Nrk.no (16 March).
83. Weaver, R.K. (1986), ‘The Politics of Blame Avoidance’, Journal of Public Policy, Vol. 6, No. 4, pp. 371–98.
84. Whittle, A. and A. Spicer (2008), ‘Is Actor Network Theory Critique?’, Organization Studies, Vol. 29, No. 4, pp. 611–29.