2.
What sensemaking and sensegiving processes occur between top managers and other involved stakeholders following the listing on the stock exchange and what is the role of accounting metrics in these processes?
To date, accounting research on shareholder value and capital market pressure has largely neglected the processes by which the capital market logic is transmitted into listed companies (for an exception, see Roberts et al., 2006). This paper contributes to an understanding of these processes. The next section presents the theoretical underpinnings of the research concerning sensemaking and sensegiving, and it discusses the role of accounting metrics in these processes. Thereafter, the methodology of the study is described. This is followed by a case analysis of the IPO processes in the companies investigated. The paper ends with conclusions and suggestions for future research.