ABSTRACT
This chapter assesses the ways in which the behaviour and expectations of stewards were influenced by the accounting practices. It considers the attitude of stewards in the context of agency theory, which would predict an expectation of reward linked to the quality of the accounts they produced, and considers the efficacy of Marxism and Foucauldianism as alternative explanations. There is less evidence in the White-Ridley and Cotesworth papers on the interactions taking place between stewards. The main feature to emerge in respect of the White-Ridleys is a recognition of the importance of accounting in promoting the interests of particular parties. William Cotesworth had a clear expection that his agents would engage in self-satisfying behaviour unless they were constantly watched. In this respect, his own experience as an employee gave him a unique insight compared to the other families. The degree to which social factors are extraneous to economic theory is in fact disputed.
