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Article

Mathieu Dunes and Bernard Pras

This paper aims to analyze the impact of brand management system (BMS) practices on subjective and objective performance in both service- and product-oriented sectors.

Abstract

Purpose

This paper aims to analyze the impact of brand management system (BMS) practices on subjective and objective performance in both service- and product-oriented sectors.

Design/methodology/approach

Based on a “grounded-in-practice” approach to BMS, a comprehensive formative BMS scale is developed and its validity is assessed. The impact of BMS on subjective brand performance (i.e. predictive validity) and on objective financial performance is assessed. Data are collected from a sample of 298 brand managers and marketing directors in five business sectors (cosmetics, convenience goods, industry, bank/insurance and media) and from a financial database. Path analysis and multigroup analysis are performed to test mediating and moderating effects.

Findings

The results reveal that subjective brand performance (perceived brand performance) mediates the relationship between the BMS and objective financial performance of the firm and on each of the three BMS dimensions; and product-oriented (vs service-oriented) sector positively moderates the relationship between the BMS and subjective brand performance.

Research limitations/implications

The paper offers insights into adapting brand management practices along all BMS dimensions to achieve better business performance and improve objective financial performance in product-oriented activities. It highlights the role of brand management implementation, as well as the role of brand management in hierarchical relationships, in improving performance in service activities.

Practical implications

The formative BMS scale offers a tool which can be used to improve strategic decisions and give practical guidance on product vs service sector specificities. The indirect impact of a BMS on financial objective performance reinforces the legitimacy of brand managers and marketing managers.

Originality/value

This paper shows the impact of the BMS on objective financial performance by using a “grounded-in-practice” BMS scale. It also affords explanation on sectoral effects of brand management practices and their consequences on subjective and objective performance.

Details

Journal of Product & Brand Management, vol. 26 no. 3
Type: Research Article
ISSN: 1061-0421

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Article

Kimberly K Merriman, Sagnika Sen, Andrew J Felo and Barrie E Litzky

Organizational sustainability has become a priority on many corporate agendas. How to integrate sustainability efforts throughout the organization, however, remains a…

Abstract

Purpose

Organizational sustainability has become a priority on many corporate agendas. How to integrate sustainability efforts throughout the organization, however, remains a challenge. The purpose of this paper is to examine two factors that potentially enhance incentive effects on employee engagement in environmental objectives: explicit organizational values for sustainability and the performance objective’s complementarity with incented financial objectives.

Design/methodology/approach

The authors employed a quasi-experimental design in which participants were randomly assigned to one of four conditions, including a status quo condition against which the treatments were contrasted. Participants (n=400) were comprised of a cross-section of US employees from a wide range of occupations and industries. A post hoc qualitative analysis provided additional insights.

Findings

Incentive effects were enhanced (i.e. preference for the environmental objective was significantly higher) when the environmental project offered complementary benefits for financial objectives, but not when organization values emphasized sustainability. An entrenched status quo bias for financial performance was discerned among a subset of the sample.

Research limitations/implications

Management scholars must pay close attention to the role of implicit norms for financial performance when investigating employee engagement in organizational sustainability efforts. From an applied perspective, framing sustainability objectives to emphasize financial benefits consistent with a financial mission may maximize employee engagement.

Originality/value

This study contributes to understanding of organizational sustainability efforts at the individual employee level of analysis, a conspicuously small part of the organizational research surrounding this topic.

Details

Journal of Managerial Psychology, vol. 31 no. 4
Type: Research Article
ISSN: 0268-3946

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Article

Sandeep Vij and Harpreet Singh Bedi

The purpose of this paper is to operationalize the subjective measures of business performance and assessing their justification for use in place of objective measures of…

Abstract

Purpose

The purpose of this paper is to operationalize the subjective measures of business performance and assessing their justification for use in place of objective measures of business performance.

Design/methodology/approach

The study is based on a sample survey of 171 companies listed on Bombay Stock Exchange, India. A cross-sectional descriptive research design has been used. Exploratory factor analysis was used to assess the factor structure and dimensionality of objective and subjective measures of business performance. The psychometric properties of these measures and their interrelationship have been assessed through confirmatory factor analysis.

Findings

The study finds a strong positive correlation between subjective business performance and objective business performance. The study finds it justified to use the subjective measures of business performance.

Research limitations/implications

Response bias may have crept in because of self-reported measure used for the study. Future researchers may cross-verify the subjective perception of respondents with data available from the records of the firms. Second, the study focuses only on financial and operational indicators of performance. The future studies may widen the scope of business performance by incorporating the interests of other stakeholders like suppliers, government, environment and society in general.

Practical implications

The strategy researchers confronting the challenge of adopting appropriate measures of business performance can use either or both of subjective and objective performance measures, as suggested in this study. The study has suggestions for strategic decision makers regarding measurement of business performance in terms of financial as well as operational indicators.

Originality/value

The study operationalizes and validates two measures of performance, namely, subjective business performance and objective business performance. The study contributes to the strategic management literature by providing evidence for association between objective and subjective measures of performance.

Details

International Journal of Productivity and Performance Management, vol. 65 no. 5
Type: Research Article
ISSN: 1741-0401

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Article

Fernando Muñoz, María Vargas and Ruth Vicente

This study aims to examine style-deviation practices in the socially responsible mutual funds (SMRF) industry i.e. how mutual funds game their stated financial objectives

Abstract

Purpose

This study aims to examine style-deviation practices in the socially responsible mutual funds (SMRF) industry i.e. how mutual funds game their stated financial objectives to earn a higher relative performance ranking. In addition, the consequences of such practices on sustainable scores and money flows are studied.

Design/methodology/approach

A sample of 454 US equity SRMFs is studied. This paper uses panel regressions controlling for time and style fixed-effects.

Findings

This study finds that 17.60% of SRMF managers in the sample are engaged in style deviation practices. These practices positively impact the sustainable performance of SRMFs and negatively impact their financial performance. One effect offsets the other and they consequently do not affect money flows. Another finding is that only investors with lower portfolio sustainability scores do show return-chaser behaviour.

Practical implications

This paper reveals that SRMF managers deviating from their stated financial style face a dilemma that is non-existent for their conventional peers that is style deviation practices affect financial and sustainable performance in opposing ways, whereas SRMF investor utility depends positively on both dimensions. The findings are not conclusive about the effectiveness of style deviation practices in attracting SRMF money flows.

Social implications

SRMF industry has experienced tremendous growth in the past decade. The increased competition in this industry has led managers to strive to attract investors, sometimes by relying on irregular practices that enhance their portfolio results. Regulators should consider how to avoid such perverse behaviour with a view to improving mutual funds transparency.

Originality/value

This is the first research that analyses style deviation practices and their consequences for the SRMF industry.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

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Article

Belinda Luke, Jo Barraket and Robyn Eversole

The purpose of this paper is to review the growing emphasis on quantifiable performance measures such as social return on investment (SROI) in third sector organisations …

Abstract

Purpose

The purpose of this paper is to review the growing emphasis on quantifiable performance measures such as social return on investment (SROI) in third sector organisations – specifically, social enterprise – through a legitimacy theory lens. It then examines what social enterprises value (i.e. consider important) in terms of performance evaluation, using a case study approach.

Design/methodology/approach

Case studies involving interviews, documentary analysis, and observation, of three social enterprises at different life-cycle stages with different funding structures, were constructed to consider “what measures matter” from a practitioner's perspective.

Findings

Findings highlight a priority on quality outcomes and impacts in primarily qualitative terms to evaluate performance. Further, there is a noticeable lack of emphasis on financial measures other than basic access to financial resources to continue pursuing social goals.

Social implications

The practical challenges faced by social enterprises – many of which are small to medium sized – in evaluating performance and by implication organisational legitimacy are contrasted with measures such as SROI which are resource intensive and have inherent methodological limitations. Hence, findings suggest the limited and valuable resources of social enterprises would be better allocated towards documenting the actual outcomes and impacts as a first step, in order to evaluate social and financial performance in terms appropriate to each objective, in order to demonstrate organisational legitimacy.

Originality/value

Findings distinguish between processes which may hold symbolic legitimacy for select stakeholder groups, and processes which hold substantive, cognitive legitimacy for stakeholders more broadly, in the under-researched context of social enterprise.

Details

Qualitative Research in Accounting & Management, vol. 10 no. 3/4
Type: Research Article
ISSN: 1176-6093

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Article

Mostaque Hussain

To study the nature of management accounting performance measures in the Financial Services Industry (FSI). The nature of Performance Measurement (PM), specially non…

Abstract

Purpose

To study the nature of management accounting performance measures in the Financial Services Industry (FSI). The nature of Performance Measurement (PM), specially non‐financial PM in FSI (service “shop”) has not been explored before.

Design/methodology/approach

This exploratory multiple case study consists of survey, interviews with questionnaire, individuals' (senior management and executives) interviews, collecting primary and secondary sources of information as well as literature surveys.

Findings

The results of this study demonstrate that the actual practices of the recent trends of management accounting in non‐financial PM are negligible in the studied financial institutions, and management of studied banks paying more attention to improve and measure financial performance than that to non‐financial performance for different reasons that affect the function/operation of FSI.

Research limitations/implications

The field study is being conducted without a conceptual/theoretical framework. An explanatory case study with particular theoretical framework/model could make possible to discuss the factors that affect non‐financial PM in this particular industry. Moreover, a comparative study with manufacturing industry would make the research results more robust.

Practical implications

A stable economic condition and competition that would increase the need and importance of non‐financial PM in FSI as well as in other services (and even in manufacturing industries).

Originality/value

This paper explores the nature of management accounting PM particularly in FSI.

Details

European Business Review, vol. 17 no. 6
Type: Research Article
ISSN: 0955-534X

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Article

Beebee Salma Sairally

In order to fulfill the Shari'ah objective of promoting the welfare of society, institutions offering Islamic financial services (IIFS) are expected to consciously align…

Abstract

Purpose

In order to fulfill the Shari'ah objective of promoting the welfare of society, institutions offering Islamic financial services (IIFS) are expected to consciously align their decisions and actions so that they are “socially responsible”. An integral policy approach towards corporate social responsibility (CSR) would constitute assigning explicit social objectives to IIFS over and above their economic, legal, Shari'ah, and ethical responsibilities. Alternatively, the task of undertaking socially‐oriented projects could be argued to be a discretionary responsibility of IIFS, with the objective of CSR being sought merely as a peripheral practice. Recent debates on the evolution of the practice of Islamic finance highlighted the profit and economic efficiency motives of IIFS rather than their concern for socio‐economic equity and welfare. A divergence between the economics literature on Islamic finance and the course taken by the practical field of Islamic banking and finance has been argued to be arising over the years. An assessment of this contention motivates this study. The paper aims to discuss these issues.

Design/methodology/approach

The study seeks to assess the corporate social performance (CSP) of a sample of 46 IIFS, located worldwide, which have responded to a questionnaire survey and whose CSR practices have been further verified by content analysis.

Findings

The findings revealed that the majority of the Islamic financial practitioners believed in attributing an integrated social role to IIFS. However, the practices of the IIFS reflected a more limited approach to CSR. Most of the IIFS were observed to be focused on meeting their legal, economic and Shari'ah responsibilities, that is, were concerned with the goals of profit maximisation and for their transactions to meet Shari'ah compliance. CSR was practised as a peripheral activity by the IIFS as opposed to being an integral, well thought‐out and deliberate policy decision of management.

Practical implications

If the welfare of Muslim communities and general human well‐being are to be promoted by IIFS – in line with the maqasid alShari'ah – this study questions whether the organisational structure of IIFS should be revisited and be re‐orientated to facilitate their efficient performance in terms of contribution towards social development and human well‐being. The question about the most appropriate business model of the Islamic finance practice that will bring about such a socially responsible outcome is yet to be resolved. This could be an important area for future research.

Originality/value

This study rises to the call of some Islamic researchers who voiced out the need to assess the performance of IIFS vis‐à‐vis their social objectives. The study is among the pioneers to quantify CSR practices of IIFS by conducting an empirical analysis on the CSP of the IIFS.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 6 no. 3
Type: Research Article
ISSN: 1753-8394

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Article

Atthaphon Mumi, George Joseph and Shakil Quayes

Microfinance institutions (MFIs) play an important role in economic development, with the dual objectives of social outreach and financial self-sufficiency. The purpose of…

Abstract

Purpose

Microfinance institutions (MFIs) play an important role in economic development, with the dual objectives of social outreach and financial self-sufficiency. The purpose of this study is to examine the influence of organizational structure and variations in legal systems on the MFI dual performance goals.

Design/methodology/approach

Using a sample that includes 1,518 MFIs from 105 different countries over a period of 20 years, this study analyzes the data by applying a model that includes six categories of organizational structures and variations of legal systems, including both civil and common law, with accounting performance measures for the dependent variables.

Findings

The analyses provide robust results indicating that MFIs structured as non-governmental organizations (NGOs) have better social outreach than all other types of MFIs and exhibit better financial performance than MFIs registered as commercial banks or credit unions. Legal systems also played a role in MFI effectiveness.

Research limitations/implications

Given the increasing importance of MFIs on economic development globally, this study has relevance on how the impact of MFI structural characteristics and macro-level influences on their dual performance criteria can be translated into management approaches and governance policies that can increase the effectiveness of these dual (i.e. social and financial) goals.

Originality/value

This study is more comprehensive than prior research in addressing the influence of organizational structures of MFIs and legal systems on MFI dual mission, namely, its financial performance and social outreach, thereby increasing our understanding of policy implications in sustaining the MFI’s developmental role.

Details

Journal of Accounting & Organizational Change, vol. 16 no. 3
Type: Research Article
ISSN: 1832-5912

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Book part

Belverd E. Needles, Mark L. Frigo, Marian Powers and Anton Shigaev

Prior research shows that companies that achieve high performance excel at certain financial objectives. This chapter addresses the question: Do companies that excel at…

Abstract

Purpose

Prior research shows that companies that achieve high performance excel at certain financial objectives. This chapter addresses the question: Do companies that excel at these financial performance objectives also excel in integrated reporting and sustainability reporting?

Methodology/approach

We compare a sample of high performance companies (HPC) with a sample of companies that purport to support integrated reporting, and a sample that purport to support sustainability reporting. Our hypotheses are that HPC will equal or exceed the integrated reporting and sustainability reporting practices shown by International Integrated Reporting Committee (IIRC) and Global Reporting Initiative (GRI) companies and US companies will be less at these practices than non-US companies.

Findings

Our findings indicate that IIRC companies and GRI companies generally do not meet the high financial performance measures of the HPC. Based on an integrated reporting and sustainability reporting matrix, we show that HPC exhibit equal performance on the practices of sustainability and integrated reporting compared to GRI companies, but both HPC and GRI are lower on these practices than IIRC companies. Also, US companies disclose less information in sustainability reports and integrated reports as compared to non-US companies. Overall, all three groups fall short of full compliance with standards of integrated reporting and sustainability reporting.

Originality/value

This chapter provides evidence as to the financial performance and the current state of integrated reporting and sustainability reporting among HPC, GRI, and IIRC companies. This chapter highlights the global need for a generally accepted set of standards for sustainability and integrated reporting practices.

Details

Performance Measurement and Management Control: Contemporary Issues
Type: Book
ISBN: 978-1-78560-915-2

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Book part

John P. Koeplin and Pascal Lélé

Integrating interdisciplinary studies with Human Capital Management Accounting (HCMA) refers to the dynamics of organized interdisciplinary action that are transversal or…

Abstract

Integrating interdisciplinary studies with Human Capital Management Accounting (HCMA) refers to the dynamics of organized interdisciplinary action that are transversal or cross-cutting. This approach requires the mastery of a certain number of technical skills and disciplines, as well as the capacity to use them in a process to solve problems of financial performance. This is accomplished through the specific interaction tasks that are performed by each management function and operational unit, which act in real time with others, in the same direction as an organizational team, using a selected risk appetite threshold base.

Putting business fields side by side, (i.e., business disciplines silos, as is normally the case in MBA programs), is not enough to create the transversal interaction dynamic needed for firms to achieve expected financial performance goals. As a result, few graduates today have the cross-cutting or vertical skills required to act, in real time, from their workstation in accordance with the pyramid shape of the organization chart in order to create value.

This chapter presents the results of the interface established by a faculty member in the Accounting Department of the University of San Francisco with a “seasoned leader in the FinTech industry.” It proposes a single portal for employers and HRMs to which the continuing education services of professional training associations, executive education departments of colleges, and MBA schools and universities, can connect to issue the HCMA certificate supplementing their training offerings focused on “Leadership Development”.

Details

Recent Developments in Asian Economics International Symposia in Economic Theory and Econometrics
Type: Book
ISBN: 978-1-83867-359-8

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