Risk analysis techniques (RATs) greatly support managers in obtaining a more comprehensive view of the threats and opportunities of strategic investment proposals. Our study investigates what strategic factors influence the use of RATs, an area largely overlooked by the prior literature. Specifically, we address the frequency of use of the most common RATs, such as sensitivity, scenario, simulation and CAPM analyses. We investigate firms’ strategic factors, such as corporate strategy, business strategy, and financial strategy. We test our hypotheses using multiple linear regression and data based on 105 structured interviews from among the 150 largest Finnish manufacturing companies. We contribute to the scarce and inconclusive prior literature by showing that strategic planning style tends to mitigate the relationship between prospector orientation and the use of RATs. We also provide clear evidence that difficulties in the availability of funding encourage companies to use RATs more frequently.

This paper introduces a revised Sustainability Performance Management System (SPMS) framework that integrates Generative AI to address the limitations of existing models and align more effectively with Sustainable Development Goal 12 (SDG 12). Traditional SPMS models often suffer from a fragmented approach, focusing on environmental, social, and economic dimensions in isolation and failing to address the unique needs of individual organizations (Moldavska & Welo, 2019). Additionally, these models typically emphasize risk mitigation rather than capitalizing on opportunities for positive impact (Bastini et al., 2022).

The proposed framework incorporates Generative AI to create a holistic and context-specific SPMS. The revised model integrates environmental, social, and economic dimensions into a unified framework, allowing for comprehensive performance evaluation and continuous improvement. Generative AI enhances this integration by providing tailored solutions that cater to the specific sustainability challenges and opportunities of individual organizations, thus moving beyond the one-size-fits-all approach of traditional frameworks (Porter & Kramer, 2011).

Furthermore, the AI-enhanced SPMS shifts from a purely risk-oriented focus to an opportunity-oriented perspective. This model identifies and develops Creating Shared Value (CSV) actions that generate both environmental and economic benefits, driving innovation and growth (Kaplan & Norton, 1992; Porter & Kramer, 2011). This approach is in line with SDG 12, which promotes sustainable consumption and production practices by encouraging more effective and integrated performance management (Searcy, 2016).

The paper also reviews key SPMS methods and indicators, including Life Cycle Assessment (LCA), Balanced Scorecard (BSC), and Creating Shared Value (CSV). While LCA is effective for assessing environmental impacts, it lacks integration of social and economic dimensions (Mahmud et al., 2021; Ren et al., 2015). The SDG 12 Model addresses this by using AI to develop more comprehensive sustainability measures. Similarly, BSC, although valuable for strategic planning, often prioritizes financial metrics over sustainability (Chai, 2009). The SDG 12 Model integrates sustainability indicators into BSC metrics to ensure a balanced evaluation of all performance dimensions. CSV focuses on aligning economic value with societal needs, and the SDG 12 Model leverages this approach to tackle specific sustainability challenges (Epstein & Widener, 2010).

In conclusion, the integration of Generative AI into the SPMS framework provides a novel solution to the limitations of current models. It offers a more effective and aligned approach to managing sustainability performance, supporting the achievement of SDG 12 by promoting a dynamic, context-specific, and opportunity-oriented framework.

Abstract

This study investigates how the sustainability disclosure practices of Saudi Arabian companies have evolved and how they are influenced by Saudi Vision 2030, international pressures and local regulatory frameworks. This study is built upon the stakeholder theory to gain an in-depth understanding of the impact of different stakeholder requirements on sustainability disclosure. It investigates the extent to which this reporting is transparent and accountable.

The study adopts a qualitative methodology focusing on sustainability and annual reports from 18 Saudi Arabian companies in 9 sectors, including energy, finance, healthcare, and telecommunications. The selected companies were chosen based on their market value and the availability of relevant sustainability disclosures for the years 2022 and 2023.

The key findings indicate that significant progress has been made in advancing sustainability disclosures in Saudi Arabia. This is through the incorporation of sustainability practices into corporate strategies with a primary focus on Vision 2030 objectives, Tadawul's regulations and growing international pressures. While certain sectors, particularly energy, utilities, materials, and finance, show significant progress in their approach, healthcare and insurance lag in ESG integration and international standards, highlighting a need for improved governance frameworks and more consistent regulatory oversight. As a new and interesting finding, the study underscores the importance of Vision 2030 and Tadawul Disclosure Guidelines as catalysts for change and calls for enhanced capacity-building and regulatory support to ensure that Saudi companies can meet national and international sustainability expectations.

The study provides theoretical and managerial implications for the broader discourse on corporate transparency and sustainable development, offering invaluable insights into academic communities, managers, and policymakers in Saudi Arabia.

The increasing integration of Sustainable Development Goals (SDGs) into political and social agendas (Bexell & Jönsson, 2022) and the rise of legislative reforms promoting sustainable practices underscore the pivotal role of agriculture, particularly agribusinesses (Lynch et al., 2021). Within this context, the UK wine industry, a growing and dynamic sector, faces unique challenges and opportunities related to environmental sustainability. Despite its rising prominence, limited research has been conducted on the environmental impacts of the UK wine industry and the adoption of sustainable practices by winemakers.

This paper utilizes Latour's (1987) Actor-Network Theory (ANT) to investigate the key actors influencing British winemakers' efforts to adopt sustainability measures. Through ANT lenses, we analyze how human and non-human actors—including individuals, organizations, technology, and regulations—interact within networks, acting as either enablers or barriers to sustainability adoption. Employing an interpretivist research approach, the study analyzes interviews with British winemakers to understand their perceptions of the concept of sustainability and the identification of the various actors within their networks.

By focusing on winemakers affiliated with WineGB, both those certified and non-certified in environmental sustainability, this research identifies the key human and non-human actors shaping sustainability strategies in the UK wine industry. The findings contribute to understanding the complex interactions that influence winemakers’ efforts to balance environmental objectives with business operations. This study offers valuable insights into the actor-networks driving or hindering the transition to sustainable practices in the UK wine industry.

Since the inception of control systems in the early 1950s shifts in the workforce composition challenges bureaucratic control systems in their (in)ability to accommodate the diverse intergenerational characteristics now present in organizations. While much attention has been given to understanding how individuals within organizations are affected by and interact with Management Control Systems (MCS), there is relatively less emphasis on studying the behavioral characteristics and influences of those who design these systems on MCSs. Thus, this research stems from a gap in the management control literature regarding the relationship between behavioral science and MCS design, from the perspective of the designers of these systems. In this theoretical paper we advocate for a paradigm shift in the approach to MCS development, emphasizing the importance of integrating personality structure and character traits derived from Jean Bergeret's psychodynamic structural model into MCS frameworks to enhance intentionality and improve organizational performance measurement systems and subsequent management. By embracing this perspective, organizations may find new directions for innovation and optimization in MCS design.

This study explores the extent to which accounting and management control practices employed by various types of organisations contribute to resilience in the context of a polycrisis. Through a systematic review of qualitative studies, analysed from a resilience perspective, preliminary findings indicate that these practices can foster resilience by influencing different sub-dimensions, depending on the nature of the crisis (whether economic, environmental, or social). The study provides valuable insights by connecting the fields of accounting and resilience, offering support for organisational responses in uncertain environments.

Social housing in the UK is a “pillar of the society” (CIH, 2018) with one in five of the UK population living in social housing. The social housing sector has significantly changed in recent years in response to societal financial and infrastructural changes (Cooper, Graham, & Himick, 2016; Smyth, 2019; Smyth, Cole, & Fields, 2020). Housing associations (HAs) major providers of social housing operate within this evolving, challenging, fast-moving and highly pressurised environment. Faced with housing shortages, funding needs, various stakeholders and new regulation (Smyth, 2019), it has become increasingly challenging for HAs to discharge accountability (Collier, 2005, 2008; Manochin, Brignall, Lowe, & Howell, 2011; Smyth, 2017) in this complex environment. Despite this complexity, the sector handles huge sums of money.

For example, in 2021 sector revenues in England were £22.1 billion with an operating surplus of £4.9 billion (Regulator of Social Housing, 2021). Sector revenues consist mainly of rental income and service charges income. In 2021 service charges income were £1.4 billion with a ratio of service charge income to associated costs of 79% (Regulator of Social Housing, 2021). Although service charges are a significant revenue earner to HAs and an important cost to tenants, there is a lacuna of scholarship on service charges practices. This study seeks to fill this gap. Employing qualitative methodology, we seek to provide increased understanding on the pricing and accountability practices of HAs in relation to service charge costs. We also seek to provide increased insights of how service costs impact the tenants’ wellbeing, and what part accountability plays in facilitating such charges. Specifically, it provides empirical evidence on the operational and pricing practices of Housing Associations from the tenants’ perspectives and how these pricing strategies impact their financial and mental wellbeing. The study answers the following research questions:

• What are the service cost pricing practices employed by HAs?

• How do these practices impact the wellbeing of tenants?

The study contributes to the accountability literature in social housing (Smyth 2012) by extending the literature on the accountability practices and pricing strategies of HAs, and how these impact the tenants’ financial and mental wellbeing. The study has policy implications for the social housing sector as it will act as a reference guide to housing practitioners as well as raise awareness in the sector on housing associations’ pricing strategies in relation to service charges. Preliminary findings suggest that service charges within housing associations is a rather complex phenomenon and there is limited accountability of tenants.

This study examines how integrating emergent technologies (ET) into Management Control Systems (MCS) enhances organizational performance, examining the variables through which ET influences MCS, and identify drivers for successful ET implementation. Employing a qualitative approach with multiple case studies, semi-structured interviews were conducted across ten companies spanning various sectors. Data analysis utilized factsheets and an abductive approach to derive theoretical insights from empirical observations. Findings show that integrating ET into MCS enhances analytical capabilities, facilitates the implementation of versatile management control systems, and enhances reporting structures. This integration enables firms to reduce risks, ensure timely access to information, deploy flexible mechanisms, and extend information dissemination. However, challenges arise from resistance to change stemming from personal, technical, and environmental factors, hindering effective ET implementation. This research advances understanding of MCS application in practice and underscores ET's role in enhancing MCS effectiveness, bridging theoretical insights with empirical evidence. The main limitation of this study is related to the use of case studies. Future research should employ quantitative methods and increase the sample size to relate deeper the existing dimensions. Managers are encouraged to strategically integrate ET into MCS to optimize operational efficiency and decision-making. Understanding factors influencing successful ET adoption in MCS can assist managers in navigating change effectively and maximizing ET benefits.

Experiential learning in a financial or managerial accounting course involves engaging students in hands-on, real-world experiences that allow them to apply accounting concepts in practical settings. This approach helps students bridge the gap between theory and practice, making abstract concepts more tangible and easier to understand.

The applied research aims to evaluate the benefits of the prototyping approach to designing and implementing learning solutions that create experiential learning experiences to teach managerial accounting. A learning prototype is built and supported by a digital learning platform that combines learning LMS embedded tools, VR immersive learning tools, and AI-driven tools. The learning prototype, which fosters a collaborative learning environment, reveals a valuable tool for design thinking, collaborative learning, and cost optimization to help cope with the complexity of the learning solution's design and implementation. Educators are part of a supportive community, working together to enhance the learning experience.

An instructional design roadmap is proposed to assist educators in designing and implementing a virtual simulated environment that is not just a classroom exercise but a real-world scenario in which students create accounting statements for a small business. In the prototype used for the research study, this environment, based on integrated study materials, allows students to handle bookkeeping, financial reporting, and decision-making based on economic data just as they would in a professional setting. The accounting skills they learn here are not just theoretical, but directly applicable to their future careers, making the learning process more engaging and motivating. Students use paper-based accounting to complete the different production steps of the accounting data.

Achieving sustainable development has become the core focus of today’s world (Martínez León & Calvo- Amodio, 2017; Kantabutra, 2019). Sustainable development encompasses a broad range of strategies aimed at promoting economic growth, social inclusion, and environmental protection. There is an increasing demand from regulatory bodies, general public and other stakeholders for business corporations to incorporate social and environmental aspects into their strategy (Gunarathne et al., 2021). Drawing on institutional theory and resource-based view, this study explores why companies incorporate sustainability into strategy (DiMaggio & Powell, 1983; Hart, 1995; Oliver, 1997; Wijethilake & Ekanayake, 2018; Abobakr et al., 2022). Extant studies suggest that integrating sustainability strategies in manufacturing and operations enhances corporate sustainability (Martínez León & Calvo-Amodio, 2017; Henao et al., 2019). Corporate sustainability strategies enable effectively utilisation of limited resources and help remove waste which are the basic idea of lean manufacturing strategy (Bertagnolli et al., 2021). Consequently, production companies use lean manufacturing as a sustainable manufacturing practice to proactively react to sustainability pressures (Cherrafi et al., 2017; Caldera et al., 2019; Dey et al., 2019; Kumar & Rodrigues, 2020; Bhatt et al., 2020; Abobakr et al., 2022). Lean manufacturing practices enhance the sustainability performance by minimising the use of energy, emission levels, water usage, and pollution. In turn, lean manufacturing enhances worker well-being and boost financial and operational outcomes (Dieste et al., 2019; Dey et al., 2019; Dieste et al., 2020; Bertagnolli et al., 2021; Abobakr et al., 2022). However, to design and implement lean manufacturing strategies effectively, it is imperative to have an accounting system which support lean manufacturing strategies (Kennedy & Widener, 2008; Fullerton et al., 2014; Alves et al., 2022). Traditional accounting systems are designed to support mass production, and they are less likely to support lean manufacturing strategy (Maskell & Kennedy, 2007; Kennedy & Widener, 2008; Fullerton et al., 2013; Alves et al., 2022). Therefore, studies suggest lean accounting which is an accounting method that has been developed to support lean manufacturing strategies, providing more accurate information to improve decision-making process in a lean environment (Kennedy & Widener, 2008; Fullerton et al., 2013, 2014; Collatto et al., 2016; Alves et al., 2022). This research explores lean accounting practices and whether lean accounting practices enable proactive strategic responses to sustainability pressures. Data were collected through conducting a case study at a multinational energy company in Egypt. A total of 39 interviews were conducted, representing the entire organisational structure at the company. Findings reveals that lean accounting practices such as visual management tools, simplified financial reporting, value stream mapping and employee empowerment enable lean companies to proactively respond to sustainability pressures including customer requirements, international and local standards, and competition. Findings also suggest that top management support and organisational culture have important roles in contributing to strategic responses to sustainability pressures. This study contributes to the existing body of literature by providing empirical evidence through a real-world case study, exploring how lean accounting practices can support strategic responses to sustainability pressures in a multinational company in Egypt.

This study explores how environmental activities within U.S. companies affect their Contribution Per Dollar Sale (CPDS) and Operational Cost Efficiency (OP_COST_EFF). We analyzed a comprehensive dataset of 17,735 firm-year observations from 2008 to 2023. Our findings reveal that companies do not pass the costs of environmental investments on to consumers through higher sales prices, resulting in reduced CPDS. To mitigate the impact on CPDS and profitability, firms improve their OP_COST_EFF while engaging in environmental initiatives. We address potential endogeneity concerns using two-stage least squares (2SLS) and difference-in-differences (DID) methods. Our results consistently show that the observed CPDS and OP_COST_EFF dynamics persist regardless of regulatory pressures. Further analysis reveals that firms strategically adjust marketing expenditures to manage costs and maintain their competitive position. Our study emphasizes the importance of regulatory frameworks in promoting sustainable business practices that benefit society. We provide valuable insights for businesses, policymakers, and standard setters working to advance sustainable initiatives and optimize the financial outcomes of environmental activities.

The agri-food sector recognises the importance of using emerging technologies to address the challenges of feeding a growing population and ensuring sustainability. Artificial intelligence (AI) and machine learning (ML) are considered crucial for analysing information sources to promote resource efficiency, waste reduction, and product traceability. These objectives have been pursued in the sector since the early 1990s. Companies involved in the food chain are now integrating AI, blockchain, and ML into their strategies through performance evaluation systems, data collection and analysis, and identifying scenarios for greater efficiency and sustainability in resource use. However, the use of these technologies also presents challenges, as they require the interpretation of complex algorithms. Frances and Garnsey (1996) highlighted the importance of control in organisational configurations facilitated by information and communication technology. The question now is whether AI and blockchain enable or inhibit control system integration across organisational boundaries. Discuss how emerging technologies are shaping the fresh produce sector, where two models of relationships coexist: one based on price and quality range, and another based on trust and long-term commitment. Investment in emerging technologies must be justified by its integration into supply chain relationship management systems. Based on a case study, this research aims to understand how these emerging technologies are integrated and can affect performance management systems in the manner to information sharing, coordination, and collaboration within the food supply chain.

This study investigates the intricate dynamics between CEO power and Environmental, Social, and Governance (ESG) disclosure, with a focus on the moderating role of board diversity within non-financial firms listed on the UK FTSE All Share index from 2012 to 2021. Utilizing a robust quantitative research design, the investigation employs multiple regression methodologies, including Ordinary Least Squares (OLS) and Generalized Method of Moments (GMM), to unravel how CEO power impacts ESG disclosure and how board diversity moderates this relationship. The findings reveal a significant inverse relationship between CEO power and ESG disclosure, aligning with Resource Dependence Theory, which posits that powerful CEOs may prioritize personal interests over stakeholder concerns, thereby reducing transparency in ESG reporting. Furthermore, the study identifies board diversity as a potent moderator that enhances this relationship, resonating with Stakeholder Theory, which emphasizes the need for governance structures that reflect a broad range of stakeholder interests. These insights contribute to the theoretical discourse on corporate governance and sustainability while offering practical implications for firms seeking to balance executive authority with diverse board structures to foster comprehensive ESG reporting. The robustness of these findings is validated through various econometric techniques, underscoring the critical role of board diversity in augmenting ESG disclosure amidst varying levels of CEO power.

In an impassioned plea for accounting scholarship to advance professional knowledge and practice, Robert Kaplan called on “accounting scholars to devote more resources to obtaining a fundamental understanding of contemporary and future practice and how analytic tools and contemporary advances in accounting and related disciplines can be deployed to improve the professional practice of accounting” (Kaplan, 2011, p. 367). In the domain of risk management, the debate about the role of increasingly sophisticated analytical tools, or what we refer to as risk artefacts, has intensified in tandem and response to increasingly complex and novel risks, associated with everything from AI-enhanced cyber attacks to environmental, social, and governance (ESG) risks. Unfortunately, this debate has focused predominately on the technical aspects of introducing risk artefacts into the organisational setting, and less so on the social and cognitive aspects. All three aspects and the dynamics between them, are fundamental to the understanding of how risk management actually works in practice, especially considering that under conditions of increasing volatility, uncertainty, complexity, and ambiguity (VUCA), risk artefacts are found to be increasingly limited in supporting the investigative and cognitive endeavours of risk enquiry (Jabbour and Crawford, forthcoming).

As mentioned, new technologies present new risks that will have to be integrated into existing risk management frameworks. COSO, for example, has already issued practitioner guidance on how organisations should implement AI-specific risk governance, management, and oversight strategies. This is just one such example where external drivers for increased control of advanced digital technologies are emerging. However, rather than merely focussing on the control of advanced digital technologies, some organisations are beginning to explore the potential of these technologies to enhance management control practices, including how risks are managed.

In this project, we take a closer look at why and how organisations implement risk artefacts, focusing specifically on the strategies, challenges, and anticipated outcomes of risk artefact implementation as part of ERM adoption. The insights presented are based on interviews with risk experts from organisations presenting a variety of industries, both in the Sweden and the UK. We find that the organisations implemented risk artefacts for a variety of reasons, and the type of risk artefacts implemented fall into one of more of the following categories: risk governance tools, visualisation and representation tools, calculative tools, and uncertainty envisionment tools. Interestingly, we find that organisational interest in leveraging AI tools in risk management is increasing, and we provide several illustrative examples of how practitioners are engaging with these tools to open up possibilities to incorporate advanced analytics into risk-based decision-making.

Calculative practices resembling conventional accounting and sometimes termed ‘audit culture’ have materialised in higher education to account for learning and related activities. These practices are posited as curricular accounting. I have observed the development and ubiquitous expansion of this accounting function from within several universities in Britain and Aotearoa New Zealand (ANZ), particularly the University of Canterbury. Treating curricular accounting as a form of accounting, I define and configure its aspects and explain its functioning. Framing the study historically and critically, I examine how today’s practices in ANZ reflect the founders of tertiary educational institutions and their successors striving for equivalence with first British and then international standards, while concerned about their country’s political, economic and social development. Three influences have arisen since the mid-20th century. Demand has increased for university-educated labour and wider access to universities has become a social policy imperative, resulting in dramatic student growth. Knowledge has also grown markedly, and so the higher education curriculum has expanded. Accounting in universities has extended following neoliberalism and managerialism taking hold in government, public policy and higher education. Critical questions are: Has curricular accounting served to emancipate society? Or has it enabled the business of higher education to fabricate products which consumers find compelling, resulting in exploitation of students and constraint of academics?

This study investigates the relationship between the management control system of the International Financial Reporting Standards (IFRS) development process and the reluctance of emerging economies to engage in this process through feedback mechanisms such as comment letters. Despite the universal adoption of IFRS by 168 countries, emerging economies are significantly underrepresented in the standard-setting process. This research draws on contingency theory, suggesting that the effectiveness of management control systems depends on the organisational context. It highlights how the decentralised approach to collecting comment letters within the IFRS Foundation’s control system contributes to underrepresentation. Through a case study of an emerging economy, the study identifies barriers such as language difficulties, lack of resources, and unclear responsibility for feedback submission. The findings indicate that the IFRS Foundation’s failure to directly request feedback from national standard setters exacerbates these issues, potentially leading to the development of standards that do not adequately reflect the needs of all users. By incorporating contingency theory, this study contributes to the literature on administrative controls in not-for-profit organisations and provides practical recommendations for enhancing emerging economies' participation in the IFRS standard-setting process, ultimately improving the consistency and effectiveness of these global standards.