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Article
Publication date: 29 June 2020

Henrik Nielsen and Thomas Borup Kristensen

This paper aims to study the relations between lean operations, lean principles in finance functions and the roles of finance functions.

Abstract

Purpose

This paper aims to study the relations between lean operations, lean principles in finance functions and the roles of finance functions.

Design/methodology/approach

The paper uses structural equation modeling to analyze data from 408 different firms in the Danish production and services sectors. A dyadic approach is applied, as a sub-sample of 107 chief operating officers in the responding firms is used to investigate the construct validity, reliability and average deviation index of the instrument measuring the roles of finance functions.

Findings

The paper finds that lean-operation firms emphasize four different yet interdependent roles of finance functions. The paper also finds that lean operation leads to firms’ finance functions adopting lean principles.

Research limitations/implications

This paper characterizes lean-operation firms as contextually ambidextrous to predict relations between lean operation and roles of finance functions. The paper expands prior case study findings on the roles of finance functions in lean-operation firms, and the findings of the paper underline that finance functions continue to play an important role in these firms.

Practical implications

Decision-makers in lean-operation firms should not be hesitant with respect to integrating finance function workers into the lean operation. Furthermore, decision-makers should understand that a balanced emphasis of the roles of finance functions is necessary to avoid overemphasizing exploitation at the expense of exploration, or vice versa.

Originality/value

To the best of the authors’ knowledge, this is the first paper to provide large-scale evidence of the roles of finance functions in lean-operation firms and to show that lean principles diffuse to finance functions. Furthermore, the paper introduces a new instrument for measuring finance function roles, based on the competing values framework.

Details

European Business Review, vol. 32 no. 4
Type: Research Article
ISSN: 0955-534X

Keywords

Content available
Article
Publication date: 15 July 2019

André de Waal, Eelco Bilstra and Peter De Roeck

The concept of the high-performance organization (HPO) receives much attention nowadays. To create and sustain an HPO, all parts of the organization must contribute…

Abstract

Purpose

The concept of the high-performance organization (HPO) receives much attention nowadays. To create and sustain an HPO, all parts of the organization must contribute, especially the finance function, whose relations with every part of the organization mean that it can be regarded as the spider in the organizational web. The paper aims to discuss this issue.

Design/methodology/approach

This study develops the high-performance finance function (HPFF) framework based on the HPO framework, a scientifically developed and validated approach to transforming organizations into HPOs. Based on an extensive literature review, potential characteristics of an HPFF were identified and subsequently linked to factors in the HPO framework. Subsequently, using a questionnaire and statistical analysis, these potential characteristics were clustered into five HPFF factors that showed a significant positive relation with the finance function’s performance.

Findings

The five HPFF factors are: Finance Function Improvement, IT Focus, People Development (of financial professionals working in the function), Role Clarity (for each of the various types of role in the function) and Strategic Role (of the finance function in the organization, especially in supporting management).

Originality/value

The HPFF framework is a practical improvement framework based on a solid scientific foundation. It also fills the current gap in the academic literature on how to develop HPFFs, thus giving the frameworks described in practitioner literature a robust scientific grounding.

Details

Journal of Advances in Management Research, vol. 16 no. 3
Type: Research Article
ISSN: 0972-7981

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Book part
Publication date: 13 January 2021

Simon Horsman

At the end of this chapter, learners should be able to:

  • Identify and describe the main functions that fall within the activities labelled ‘accounting’ and ‘finance’ and…

Abstract

Learning Objectives

At the end of this chapter, learners should be able to:

  • Identify and describe the main functions that fall within the activities labelled ‘accounting’ and ‘finance’ and relate these functions to one another.

  • Locate these functions within the structures typical of small and large organisations and relate these functions:

    • (a)

      to organisational success and failure and

    • (b)

      to other business functions.

  • For each of the main class of decision made by human resource practitioners identify the information required and the ways in which this information is, in part, generated by the accounting and finance function.

Identify and describe the main functions that fall within the activities labelled ‘accounting’ and ‘finance’ and relate these functions to one another.

Locate these functions within the structures typical of small and large organisations and relate these functions:

  • (a)

    to organisational success and failure and

  • (b)

    to other business functions.

to organisational success and failure and

to other business functions.

For each of the main class of decision made by human resource practitioners identify the information required and the ways in which this information is, in part, generated by the accounting and finance function.

Details

Financial and Managerial Aspects in Human Resource Management: A Practical Guide
Type: Book
ISBN: 978-1-83909-612-9

Keywords

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Book part
Publication date: 22 December 2005

Forrest Briscoe, James Maxwell and Peter Temin

The past two decades have witnessed a transformation in the corporate human resource (HR) function – moving away from a role of balancing multiple interests toward a…

Abstract

The past two decades have witnessed a transformation in the corporate human resource (HR) function – moving away from a role of balancing multiple interests toward a narrower focus on business objectives – yet we know little about how this change occurred. This study finds that the functional backgrounds of senior HR managers played an important role in determining the changing health benefits of large corporations. Managers with finance backgrounds controlled costs more than those with traditional HR backgrounds and contracted with fewer health plans – yet surprisingly without measured differences in health care quality management. These results suggest that more attention should be paid to the backgrounds of managers in the wider evolution of HR.

Details

Advances in Industrial & Labor Relations
Type: Book
ISBN: 978-0-76231-265-8

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Article
Publication date: 23 November 2012

Sartini Wardiwiyono

This paper aims to contribute to literature on managing Islamic micro financing by formulating and evaluating the implementation of internal control system for Islamic…

Abstract

Purpose

This paper aims to contribute to literature on managing Islamic micro financing by formulating and evaluating the implementation of internal control system for Islamic micro financing. It also aims to investigate the implementation of an internal control system for financing activities practiced by Baitul Maal wat Tamwil (BMT), a special micro finance organization, in Indonesia.

Design/methodology/approach

First, the paper introduces the concept of internal control system. Second, an internal control system for Islamic financing is formulated. Primary data that relate to the implementation of an internal control system for financing activities are obtained through a direct survey using questionnaires. The data are then analyzed using descriptive statistic and qualitative analysis to find the implementations of the internal control system.

Findings

BMTs in Indonesia have implemented an internal control system for their financing activities. The rank of the implementation is: information and communication; monitoring; control environment; risk assessment; and control activities. This study also indicates that the implementation of authorization and consultation to the Shariah Supervisory Board was low.

Research limitations/implications

The respondents of this study are small in number. However, the findings are valid and reliable.

Originality/value

To the author's knowledge, there is a lack of scholars' attention on the implementation of internal control especially for Islamic micro financing. Therefore, this study will provide insight to the literature on how to manage Islamic micro financing efficiently and effectively.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 5 no. 4
Type: Research Article
ISSN: 1753-8394

Keywords

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Article
Publication date: 4 January 2011

Yair Holtzman

This paper aims to demonstrate that operations management techniques and operations strategy can be successfully implemented to create more efficient and effective tax…

Abstract

Purpose

This paper aims to demonstrate that operations management techniques and operations strategy can be successfully implemented to create more efficient and effective tax department functionality. The paper seeks to bridge two areas that can have a significant impact on the competitive success of any type of enterprise – not just in the short term, but on an enduring basis.

Design/methodology/approach

The driver for this article came from client engagements and discussions with CEOs/CFOs, vice presidents of tax, and directors of tax and operations that the author has served on engagements over recent years.

Findings

The tax department should benefit from effective implementation of management consulting and operational strategy consulting. There is an opportunity to have a huge impact on the tax function, allowing tax to play a more central role within the overall finance function.

Practical implications

Firms have found that implementation of some or all of these ideas into their tax function and tax processes has afforded them a way to more effectively and efficiently manage their operations and set themselves apart from other functions within an enterprise.

Originality/value

The paper is very creative in demonstrating a valuable connection between operations strategy, operations management, and the tax function. The author shows how tools and process improvements can be effectively applied to tax just as they are to other functions of an enterprise.

Details

Journal of Management Development, vol. 30 no. 1
Type: Research Article
ISSN: 0262-1711

Keywords

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Article
Publication date: 14 September 2012

Catherine Equey Balzli and Bernard Morard

The purpose of this paper is to study the impact of an Integrated Financial System implementation on accountant profiles in a Swiss public administration. The authors…

Abstract

Purpose

The purpose of this paper is to study the impact of an Integrated Financial System implementation on accountant profiles in a Swiss public administration. The authors observe the following variables: accountants' skills, accountants' functions, and accountants' educational backgrounds. Each variable was studied before and after the implementation.

Design/methodology/approach

This study is an empirical research based on a case study using interviews. The authors designed a questionnaire that they discussed with participants in order to determine how they perceive accountants' job profiles.

Findings

The main finding concerned accountants' educational backgrounds. In the public administration that was studied, accountants tended overall to lack the specialized knowledge necessary to work with the complex tools in an Integrated Financial System. The paper also confirmed other authors' findings, that the necessary skill sets change when an Integrated Financial System is implemented. Actually, it was found that job descriptions did not change after the implementation as much as it was expected that they would.

Research limitations/implications

These findings are based only on participants' perceptions, because documentation was difficult to obtain. The small sample size also did not allow for generalizable results.

Practical implications

Public administrations must carefully determine the skills necessary for the accounting staff to work within an Integrated Financial System. Job descriptions must be adapted and prospective new hires should have higher qualifications as well as better accounting and ERP knowledge.

Originality/value

This research was conducted using an ethnographic approach that compared and analysed perceptions from a diverse sample of government employees. The sample population was chosen from among different departments and functions.

Details

Journal of Accounting & Organizational Change, vol. 8 no. 3
Type: Research Article
ISSN: 1832-5912

Keywords

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Article
Publication date: 23 May 2019

Sophie Boutillier

The purpose of this paper is to study the nature of the relationship between the entrepreneur and the banker, which is central to any analysis of business creation and…

Abstract

Purpose

The purpose of this paper is to study the nature of the relationship between the entrepreneur and the banker, which is central to any analysis of business creation and innovation management. The author’s main purpose is to understand how this relationship has been studied by the pioneer economists of the entrepreneur and to highlight their contribution to the understanding of today’s reality.

Design/methodology/approach

To do so, the author proposes a sketch of an entrepreneur and banker economics based on the study of six economists (Cantillon, Smith, Bentham, Say, Schumpeter and Baumol) known for their works on entrepreneur theory. In their works, they explained how the (often difficult) relationship between the entrepreneur and the banker is built in a context of multi-uncertainty. They define the entrepreneur in different ways (a risk-taker, a prudent man, a projector, etc.), and put forward different behaviors facing uncertainty through social relations. The relationship between the entrepreneur and the banker can be read according to the grid of analysis of strong or weak ties (Granovetter, 1973).

Findings

This analysis demonstrates the importance of trust between the two protagonists. This contribution remains fundamental to study the behavior of financers and entrepreneurs today in the context of business eco-systems, clusters, science parks ‒ in other words, the main places of emergence of innovation.

Research limitations/implications

This research leads to the proposal of the main basis of an economics of the entrepreneur and the banker; it can be further developed with the addition of other contributions of historical economists.

Practical implications

This research shows the importance of thinking about the ways to build trust within the relation between entrepreneurs and their funders (bankers, venture capital, crowdfunding).

Social implications

The analysis of social ties (weak or strong) plays a major role in this relation.

Originality/value

The originality of the article is to come back to the works of pioneer economists and to show their contributions to the understanding of today’s reality.

Details

European Journal of Innovation Management, vol. 23 no. 2
Type: Research Article
ISSN: 1460-1060

Keywords

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Article
Publication date: 1 October 1997

William B. Locander and Daniel J. Goebel

During the past decade, corporations have experienced a number of environmental “shocks” which have forced CEOs to examine the nature of their enterprises. Today, more so…

Abstract

During the past decade, corporations have experienced a number of environmental “shocks” which have forced CEOs to examine the nature of their enterprises. Today, more so than ever before, executives are having to react to the concerns of various internal and external stakeholders. Among the key concerns of CEOs are: increased competition, especially at the global level, environmental issues (e.g. “green marketing”), and the demands of various stakeholder groups. The result of this new competitive environment is heightened pressure for businesses to perform.

Details

Managerial Finance, vol. 23 no. 10
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 March 2013

John M. Trussel and Patricia A. Patrick

This paper uses survival analysis to investigate fiscal distress in special district governments. We hypothesize that fiscal distress is positively correlated with revenue…

Abstract

This paper uses survival analysis to investigate fiscal distress in special district governments. We hypothesize that fiscal distress is positively correlated with revenue concentration and debt usage, and negatively correlated with organizational slack and entity resources. Our model addresses differences in district functions, financing and legislation. Our regression model predicts the likelihood of fiscal distress and correctly classifies 93.4 percent of the districts as fiscally distressed or not. The results show that the most important indicator of fiscal distress is a low level of capital expenditures relative to total revenues and bond proceeds. The information needed to predict fiscal distress is publicly available, making our model useful in the prevention, detection, and mitigation of fiscal distress in U.S. districts.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 25 no. 4
Type: Research Article
ISSN: 1096-3367

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