Management control systems and governance from its institutional context

Presentation

Arian, Adam G. and Sands, John. 2022. "Management control systems and governance from its institutional context ." 2022 ICVG Conference: Governance in its institutional context. Melbourne, Australia 15 - 16 Dec 2022 Australia.
Paper/Presentation Title

Management control systems and governance from its institutional context

Presentation TypePresentation
AuthorsArian, Adam G. and Sands, John
Number of Pages34
Year2022
Place of PublicationAustralia
Web Address (URL) of Paperhttps://www.monash.edu/__data/assets/pdf_file/0003/3118890/Adam-Arian.pdf
Web Address (URL) of Conference Proceedingshttps://www.monash.edu/business/events/past-events/accounting/icvg/2022/2022-icvg-conference-governance-in-its-institutional-context
Conference/Event2022 ICVG Conference: Governance in its institutional context
Event Details
2022 ICVG Conference: Governance in its institutional context
Event Date
15 to end of 16 Dec 2022
Event Location
Melbourne, Australia
Event Venue
Monash University
Abstract

This study aims to evaluate the institutional role of intangible mechanisms such as organisational values, beliefs, norms and common practices and their interaction with management control systems (MCSs) in improving corporate governance. We use the belief systems lever from Simon's levers of controls framework and more informal mechanisms to evaluate the impact of organisational initiatives on governance in response to the increasing concerns from key stakeholders. Our longitudinal study draws on data reported between 2007 and 2021 and collected from a sample of multinational listed firms across 55 countries using the triangulated approach. Based on the stakeholder approach inspired by the Global Reporting Initiative (GRI), our study recommends an innovative social management control systems (SMCS) model that supports the positive impact of promoting internal intangible control mechanisms to strengthen governance performance. Therefore, it supports the argument that other institutional elements of MCSs, beyond the traditional monitoring mechanisms, are also crucial to achieving organisational goals. Our study provides evidence of how organisations seek to achieve their objectives by creating a trusted relationship with different stakeholder groups that promote behaviour aligned with those objectives.

KeywordsManagement control systems; Levers of control; Corporate governance
Contains Sensitive ContentDoes not contain sensitive content
ANZSRC Field of Research 2020350105. Management accounting
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Byline AffiliationsSchool of Business
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