Corporate Turnaround and Management Accounting in Pakistan: A Business Ecosystem Perspective

Abstract

This article develops an integrative review of corporate turnaround and management accounting by situating accounting practices within a business ecosystem perspective. Using Pakistan as a revelatory developing-economy context, the study synthesizes literature from management accounting, strategic management, and organizational change to theorize how accounting systems facilitate trust reconstruction, coordination, and learning during periods of corporate distress. The review highlights that management accounting operates as a boundary-spanning mechanism linking firms, financial institutions, and professional intermediaries. The article contributes to International Journal of Management Reviews debates by extending turnaround theory beyond firm-centric explanations and proposing a future research agenda for accounting-enabled recovery in emerging economies.