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Abstract

This article argues that actors legitimize the benefits associated with professional status through practices congruent with social values. Such congruence is ‘thin’ when activities correspond with the values of industry actors and ‘thick’ when practices relate to broader social principles. The category of ‘semi-professionals’ is extended to actors whose legitimization of professional privileges remains precarious as their ‘thin’ congruence with narrow principles impedes broader correspondence with wider social values. The ‘thin’ congruence with narrow notions of sustainability by leading British and American accounting firms, banks and credit-rating agencies since the outbreak of the most recent financial crisis is illustrated as contributing to their persistent ‘semi-professionalism’. It is maintained that only through ‘thick’ congruence with wider notions of sustainability may these and other market actors more broadly legitimize the privileges associated with professional status.

Keywords

Accounting firms banks credit-rating agencies crisis professionalism sustainability

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Sustainability and the renewed semi-professionalism of leading Anglo-American financial services firms

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