Journal of Legal, Ethical and Regulatory Issues (Print ISSN: 1544-0036; Online ISSN: 1544-0044)


A Theoretical Explanation of Habitus Shifting in Hospitals Using Language and Symbolic Power of Accounting

Author(s): Sri Pujiningsih, Sawitri Dwi Prastiti, Dian Syariati, Sharifah Norzehan Syed Yusuf

This study aims to uncover the language and symbolic power of accounting in the habitus, field and capital of the hospital industry. This study undertakes a qualitative research approach from the critical paradigm perspective. The data used in this study are gathered from annual reports published in the year 2018 from five hospitals that trade in the Indonesia Stock Exchange (ISE). The data analysis technique used is content analysis. The results indicate that accounting symbolic power lies in the concepts of habitus, field, and capital. For the concept of habitus in hospitals for profit, the adoption of the Financial Accounting Standards (FAS) is internalized into their practices and become a medium of communication between hospital issuers and their stakeholders. The concept of field accounting is a fundamental performance construction tool on the Indonesia Stock Exchange, where the issuers compete for financial performance. In the concept of capital, financial capital is the primary language in the report of financial position, especially equity. Capital from this accounting language can finally be converted into political capital in hospital expansion and acquisition by hospital issuers. The concept of capital is also converted into social capital in corporate social responsibility (CSR) activities performed by the hospital issuers to gain legitimacy for their sustainability. The symbolic power of accounting is found to be natural, structured and dominant. Accounting seems to belong to practices that are taken for granted in the hospital industry. The Hospital issuers' compliance and trust towards all regulations in the ISE are symbolized as Doxa and Illusion. Accounting as a medium of dominance in the hospital industry.

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