Factors affecting the application of strategic management accounting techniques and performance in Vietnamese enterprises
Date Published:
25/03/2025
Online Published:
25/03/2025
Section:
Business Administration, Marketing, Commerce, and Tourism
Main Article Content
Abstract
Purpose – The objectives of the study are to determine factors affecting the applications of strategic management accounting (SMA) techniques and the operational performance of Vietnamese enterprises.
Design/methodology/approach - Using a mixed research method (qualitative research combined with quantitative research), with survey data from 262 medium and large non-financial enterprises in Vietnam. Data analysis and processing were performed using Smart-PLS software.
Findings - Research results show that the factors including the competitive level of the environment, unstable level of the environment, ownership structure, business strategy, market orientation, organizational structure, and information technology have a positive on the application of SMA techniques, to the performance of Vietnamese enterprises.
Originality/value - The application of SMA techniques has a positive impact on performance in Vietnamese enterprises. From the findings, the management policies are proposed to promote the application of strategic management accounting to increase sustainable performance in Vietnamese enterprises in the current period.
Keywords
Performance of Viet Nam enterprises; Medium and large non-financial enterprises; Strategic management accounting; Strategic management accounting techniques
Article Details
Field of Economic (JEL Codes)
M10 - General - Business Administration, M40 - General - M41 - Accounting - M49 - Other - Accounting and Auditing
References
Afonso, P., Nunes, M., Paisana, A., & Braga, A. (2008). The influence of time-to-market and target costing in the new. International Journal of Production Economics, 115(2008), 559-568. doi:10.1016/j.ijpe.2008.07.003
Alamri, A. (2018). Association between strategic management accounting facets and organizational performance. Baltic Journal of Management, 14(2), 212-234. doi:10.1108/BJM-12-2017-0411
AlMaryani, M. A. H., & Sadik, H. H. (2012). Strategic management accounting techniques in Romanian companies: Some survey evidence. Procedia Economics and Finance, 3, 387-396. https://doi.org/10.1016/S2212-5671(12)00169-4
Alnawayseh, M. (2013). The extent of applying strategic management accounting tools in Jordanian banks. International Journal of Business and Management, 8(19), 32-44. doi:10.5539/ijbm.v8n19p32
Botten, N., & Sims, A. (2005). Management Accounting - Business Strategy (2006 ed.). CIMA Publishing.
Bui Thi Truc Quy (2020). Các nhân tố ảnh hưởng đến việc áp dụng kế toán quản trị chiến lược và sự tác động đến thành quả hoạt động tại các doanh nghiệp sản xuất – nghiên cứu ở khu vực Đông Nam Bộ -Việt Nam [Factors affecting the application of strategic management accounting and the impact on performance at manufacturing and research enterprises in the Southeast region – Vietnam]. [Doctoral dissertation, University of Economics Ho Chi Minh City]. Ho Chi Minh City.
Cadez, S., & Guilding, C. (2008). An exploratory investigation of an integrated contingency model of strategic management accounting. Accounting, Organizations and Society, 33(7-8), 806-863. https://doi.org/10.1016/j.aos.2008.01.003
Cescon, F., Costantini, A., & Grassetti, L. (2019). Strategic choices and strategic management accounting in large manufacturing firms. Journal of Management and Governance, 23, 605-636. doi:10.1007/s10997-018-9431-y
Cinquini, L., & Tenucci, A. (2010). Strategic management accounting and business strategy: a loose coupleing? Journal of Accounting & Organizatonal Change, 6(2), 228-259. doi:10.1108/18325911011048772
Cravens, K., & Guilding, C. (1999). Strategic brand valuation: a cross-functional perspective. Business Horizons, 42(4), 53-54. doi:10.1016/S0007-6813(99)80064
Dmitrović-Šaponja, L., & Suljović, E. (2017). Strategic management accounting in the Republic of Serbia. Economic research-Ekonomska istraživanja. 30(1), 1829-1839. http://doi.org/10.1080/1331677X.2017.1392884
Doan Ngoc Phi Anh (2012). Nghiên cứu nhân tố ảnh hưởng đến việc vận dụng kế toán quản trị chiến lược [Researching factors affecting the application of strategic management accounting]. Journal of Asian Business and Economic Studies, 264, pp 9-15.
Gordon, L., & Narayanan, V. (1984). Management accounting systems, perceived environmental uncertainty and organization structure: An empirical investigation. Accounting, Organizations and Society, 9(1), 33-47. doi:10.1016/0361-3682(84)90028-x
Guilding, C., & McManus, L. (2002). The incidence, perceived merit and antecedents of customer accounting: an exploratory note. Accounting, Organizations and Society, 27(1-2), 45-59. doi:10.1016/S0361-3682(01)00030-7
Guilding, C., Cravens, K., & Tayles, M. (2000). An international comparison of strategic management accounting practices. Management Accounting Research, 11(1), 113-135. doi:10.1006/mare.1999.0120
Huang, H.-C., Lai, M.-C., Kao, M.-C., & Chen, Y.-C. (2012). Target Costing, Business Model Innovation, and Firm Performance: An Empirical Analysis of Chinese Firms. Canadian Journal of Administrative Sciences, 29(4), 322-335. doi:10.1002/CJAS.1229
Le Hieu Hoc (2016). Chi phí chất lượng - Công cụ nâng cao chất lượng và giảm chi phí hữu ích cho doanh nghiệp [Quality costs - Useful tool for improving quality and reducing costs for businesses]. Review of Finance, 636, pp 66-69. http://www.vjol.info/index.php/TC/article/view/25471
Le Thi My Nuong (2020). Các nhân tố ảnh hưởng đến thực hiện kế toán quản trị chiến lược và sự tác động đến thành quả hoạt động của doanh nghiệp sản xuất Việt Nam [Factors affecting the implementation of strategic management accounting and the impact on performance of Vietnamese manufacturing enterprises]. [Doctoral dissertation, University of Economics Ho Chi Minh City]. Ho Chi Minh City.
Ma, Y. (2007). Investigation and theorization of the adoption of strategic management accounting (SMA) practices in large U.K organizations. [Doctoral Thesis. University of Hull]. England. https://hull-repository.worktribe.com/output/4215169
McManus, L. (2013). Customer accounting and marketing performance measures in the hotel industry: Evidence from Australia. International Journal of Hospitality Management, 33, 140-152. https://doi.org/10.1016/j.ijhm.2012.07.007
National Assembly (2020). Law on Securities No. 54/2019/QH14. dated November 26th, 2019.
Nguyen Thi Ngoc Bich, Thai Thi Hoai Thuong (2022). Nhân tố ảnh hưởng đến vận dụng kế toán quản trị trong doanh nghiệp nhỏ và vừa tại Đồng Nai [Factors affecting the application of management accounting in small and medium enterprises in Dong Nai]. Review of Finance, 1, 86-89.
Ojra, J. (2014). Strategic management accounting practices in Palestinian companies: application of contingency theory perspective. [Doctoral dissertation, University of East Anglia]. United Kingdom. https://ueaeprints.uea.ac.uk/id/eprint/49725
Pavlatos, O. (2015). An empirical investigation of strategic management accounting in hotels. International Journal of Contemporary Hospitality Management, 27(5), 756-767. doi:10.1108/IJCHM-12-2013-0582
Pavlatos, O., & Kostakis, X. (2018). The impact of top management team characteristics and historical financial performance on strategic management accounting. Journal of Accounting & Organizational Change, 14(4), 455-472. https://doi.org/10.1108/JAOC-11-2017-0112
Pham Ngoc Toan, Le Thi My Nuong (2018). Các nhân tố ảnh hưởng đến thực hiện kế toán quản trị chiến lược tại doanh nghiệp sản xuất Việt nam [Factors affecting the implementation of strategic management accounting in Vietnamese manufacturing enterprises]. Vietnam Trade and Industry Review, 11, 473 – 479.
Quon, P. (2020). Strategic management accounting use in Canada: An exploratory study of key techniques and factors. [Doctoral dissertation, Athabasca University]. Canada. http://hdl.handle.net/10791/332
Roslender, R. (1995). Accounting for strategic positioning: Responding to the crisis in management accounting. British Journal of Management. 6(1), 45-57. https://doi.org/10.1111/j.1467-8551.1995.tb00085.x
Sherif, Y., & Kolarik, W. (1981). Life cycle costing: concept and practice. Omega, 9(3), 287-296. doi:10.1016/0305-0483(81)90035-9
Sumkaew, N. (2016). Management Accounting Changes and the Interaction Effect of Management Accounting Practices and Integrated Information Systems on Organisational Performance: Evidence from Thailand. PhD Thesis, Newcastle University Business School. Retrieved from https://theses.ncl.ac.uk/jspui/handle/10443/3269
Teeratansirikool, L., Siengthai, S., Badir, Y; Charoenngam, C. (2013). Competitive strategies and firm performance: The mediating role of performance measurement. International Journal of Productivity and Performance Management, 62(2), 168-184. https://doi.org/10.1108/17410401311295722
Thai Anh Tuan (2019). Ảnh hưởng của các nhân tố đến việc áp dụng kỹ thuật kế toán quản trị trong các doanh nghiệp miền bắc Việt Nam [The influence of factors on the application of management accounting techniques in businesses in northern Vietnam] [Doctoral dissertation, National Economics University]. Ha Noi.
The Ministry of Finance. (2003). VAS 08: Decision No. 234/2003/QD-BTC on the insurance and publication of six Vietnamese Accounting Standards. Dated December 30th, 2003.
Alamri, A. (2018). Association between strategic management accounting facets and organizational performance. Baltic Journal of Management, 14(2), 212-234. doi:10.1108/BJM-12-2017-0411
AlMaryani, M. A. H., & Sadik, H. H. (2012). Strategic management accounting techniques in Romanian companies: Some survey evidence. Procedia Economics and Finance, 3, 387-396. https://doi.org/10.1016/S2212-5671(12)00169-4
Alnawayseh, M. (2013). The extent of applying strategic management accounting tools in Jordanian banks. International Journal of Business and Management, 8(19), 32-44. doi:10.5539/ijbm.v8n19p32
Botten, N., & Sims, A. (2005). Management Accounting - Business Strategy (2006 ed.). CIMA Publishing.
Bui Thi Truc Quy (2020). Các nhân tố ảnh hưởng đến việc áp dụng kế toán quản trị chiến lược và sự tác động đến thành quả hoạt động tại các doanh nghiệp sản xuất – nghiên cứu ở khu vực Đông Nam Bộ -Việt Nam [Factors affecting the application of strategic management accounting and the impact on performance at manufacturing and research enterprises in the Southeast region – Vietnam]. [Doctoral dissertation, University of Economics Ho Chi Minh City]. Ho Chi Minh City.
Cadez, S., & Guilding, C. (2008). An exploratory investigation of an integrated contingency model of strategic management accounting. Accounting, Organizations and Society, 33(7-8), 806-863. https://doi.org/10.1016/j.aos.2008.01.003
Cescon, F., Costantini, A., & Grassetti, L. (2019). Strategic choices and strategic management accounting in large manufacturing firms. Journal of Management and Governance, 23, 605-636. doi:10.1007/s10997-018-9431-y
Cinquini, L., & Tenucci, A. (2010). Strategic management accounting and business strategy: a loose coupleing? Journal of Accounting & Organizatonal Change, 6(2), 228-259. doi:10.1108/18325911011048772
Cravens, K., & Guilding, C. (1999). Strategic brand valuation: a cross-functional perspective. Business Horizons, 42(4), 53-54. doi:10.1016/S0007-6813(99)80064
Dmitrović-Šaponja, L., & Suljović, E. (2017). Strategic management accounting in the Republic of Serbia. Economic research-Ekonomska istraživanja. 30(1), 1829-1839. http://doi.org/10.1080/1331677X.2017.1392884
Doan Ngoc Phi Anh (2012). Nghiên cứu nhân tố ảnh hưởng đến việc vận dụng kế toán quản trị chiến lược [Researching factors affecting the application of strategic management accounting]. Journal of Asian Business and Economic Studies, 264, pp 9-15.
Gordon, L., & Narayanan, V. (1984). Management accounting systems, perceived environmental uncertainty and organization structure: An empirical investigation. Accounting, Organizations and Society, 9(1), 33-47. doi:10.1016/0361-3682(84)90028-x
Guilding, C., & McManus, L. (2002). The incidence, perceived merit and antecedents of customer accounting: an exploratory note. Accounting, Organizations and Society, 27(1-2), 45-59. doi:10.1016/S0361-3682(01)00030-7
Guilding, C., Cravens, K., & Tayles, M. (2000). An international comparison of strategic management accounting practices. Management Accounting Research, 11(1), 113-135. doi:10.1006/mare.1999.0120
Huang, H.-C., Lai, M.-C., Kao, M.-C., & Chen, Y.-C. (2012). Target Costing, Business Model Innovation, and Firm Performance: An Empirical Analysis of Chinese Firms. Canadian Journal of Administrative Sciences, 29(4), 322-335. doi:10.1002/CJAS.1229
Le Hieu Hoc (2016). Chi phí chất lượng - Công cụ nâng cao chất lượng và giảm chi phí hữu ích cho doanh nghiệp [Quality costs - Useful tool for improving quality and reducing costs for businesses]. Review of Finance, 636, pp 66-69. http://www.vjol.info/index.php/TC/article/view/25471
Le Thi My Nuong (2020). Các nhân tố ảnh hưởng đến thực hiện kế toán quản trị chiến lược và sự tác động đến thành quả hoạt động của doanh nghiệp sản xuất Việt Nam [Factors affecting the implementation of strategic management accounting and the impact on performance of Vietnamese manufacturing enterprises]. [Doctoral dissertation, University of Economics Ho Chi Minh City]. Ho Chi Minh City.
Ma, Y. (2007). Investigation and theorization of the adoption of strategic management accounting (SMA) practices in large U.K organizations. [Doctoral Thesis. University of Hull]. England. https://hull-repository.worktribe.com/output/4215169
McManus, L. (2013). Customer accounting and marketing performance measures in the hotel industry: Evidence from Australia. International Journal of Hospitality Management, 33, 140-152. https://doi.org/10.1016/j.ijhm.2012.07.007
National Assembly (2020). Law on Securities No. 54/2019/QH14. dated November 26th, 2019.
Nguyen Thi Ngoc Bich, Thai Thi Hoai Thuong (2022). Nhân tố ảnh hưởng đến vận dụng kế toán quản trị trong doanh nghiệp nhỏ và vừa tại Đồng Nai [Factors affecting the application of management accounting in small and medium enterprises in Dong Nai]. Review of Finance, 1, 86-89.
Ojra, J. (2014). Strategic management accounting practices in Palestinian companies: application of contingency theory perspective. [Doctoral dissertation, University of East Anglia]. United Kingdom. https://ueaeprints.uea.ac.uk/id/eprint/49725
Pavlatos, O. (2015). An empirical investigation of strategic management accounting in hotels. International Journal of Contemporary Hospitality Management, 27(5), 756-767. doi:10.1108/IJCHM-12-2013-0582
Pavlatos, O., & Kostakis, X. (2018). The impact of top management team characteristics and historical financial performance on strategic management accounting. Journal of Accounting & Organizational Change, 14(4), 455-472. https://doi.org/10.1108/JAOC-11-2017-0112
Pham Ngoc Toan, Le Thi My Nuong (2018). Các nhân tố ảnh hưởng đến thực hiện kế toán quản trị chiến lược tại doanh nghiệp sản xuất Việt nam [Factors affecting the implementation of strategic management accounting in Vietnamese manufacturing enterprises]. Vietnam Trade and Industry Review, 11, 473 – 479.
Quon, P. (2020). Strategic management accounting use in Canada: An exploratory study of key techniques and factors. [Doctoral dissertation, Athabasca University]. Canada. http://hdl.handle.net/10791/332
Roslender, R. (1995). Accounting for strategic positioning: Responding to the crisis in management accounting. British Journal of Management. 6(1), 45-57. https://doi.org/10.1111/j.1467-8551.1995.tb00085.x
Sherif, Y., & Kolarik, W. (1981). Life cycle costing: concept and practice. Omega, 9(3), 287-296. doi:10.1016/0305-0483(81)90035-9
Sumkaew, N. (2016). Management Accounting Changes and the Interaction Effect of Management Accounting Practices and Integrated Information Systems on Organisational Performance: Evidence from Thailand. PhD Thesis, Newcastle University Business School. Retrieved from https://theses.ncl.ac.uk/jspui/handle/10443/3269
Teeratansirikool, L., Siengthai, S., Badir, Y; Charoenngam, C. (2013). Competitive strategies and firm performance: The mediating role of performance measurement. International Journal of Productivity and Performance Management, 62(2), 168-184. https://doi.org/10.1108/17410401311295722
Thai Anh Tuan (2019). Ảnh hưởng của các nhân tố đến việc áp dụng kỹ thuật kế toán quản trị trong các doanh nghiệp miền bắc Việt Nam [The influence of factors on the application of management accounting techniques in businesses in northern Vietnam] [Doctoral dissertation, National Economics University]. Ha Noi.
The Ministry of Finance. (2003). VAS 08: Decision No. 234/2003/QD-BTC on the insurance and publication of six Vietnamese Accounting Standards. Dated December 30th, 2003.
How to Cite
Tran , T. P. L., Duong , H. N. K., Tran , H. V., & Ha , X. T. (2025). Factors affecting the application of strategic management accounting techniques and performance in Vietnamese enterprises. Journal of Finance - Marketing Research, 3(01), 91-104. https://doi.org/10.52932/jfm.v3i1e.573