Governing through numbers: a theoretical framework for understanding how accounting information influences megaproject governance

Abstract

Purpose This paper aims to explore how accounting information shapes the governance of megaprojects by integrating insights from institutional theory and governmentality perspectives into a unified theoretical framework. Design/methodology/approach The framework highlights the interplay between external and internal institutions, multiple rationalities and analytics of governmentality in shaping accounting information. The institutional lens explains how accounting practices become institutionalized and influenced by both industry norms and organizational history, while the governmentality perspective reveals how accounting operates as a technology of governance through visibility, technical practices, knowledge systems and identity formation. The framework is illustrated through an analysis of the Gordie Howe International Bridge Project. Findings The proposed framework shows how accounting information creates visibilities, structures decisions, privileges certain expertise and shapes accountability relationships in megaprojects. Originality/value The paper provides a conceptual contribution by specifying precisely how accounting information constitutes governance across megaproject phases; and an empirical contribution consisting of a detailed reconstruction of the Gordie Howe International Bridge’s financial and governance architecture from its establishment in 2012 through its transition to operations in 2025, demonstrating how accounting choices simultaneously enacted fields of visibility, calculative techniques, authorized knowledge systems and accountability identities across a decade of project governance.