Towards an institutional understanding of risk-based management controls: evidence from a developing market

Abdelmoneim Bahyeldin Mohamed Metwally and Ahmed Diab

Qualitative Research in Accounting & Management, 2024, vol. 21, issue 2, 165-191

Abstract: Purpose - In developing countries, how risk management technologies influence management accounting and control (MAC) practices is under-researched. By drawing on insights from institutional studies, this study aims to examine the multiple institutional pressures surrounding an entity and influencing its risk-based management control (RBC) system – that is, how RBC appears in an emerging market attributed to institutional multiplicity. Design/methodology/approach - The authors used qualitative case study research methods to collect empirical evidence from a privately owned Egyptian insurance company. Findings - The authors observed that in the transformation to risk-based controls, especially in socio-political settings such as Egypt, changes in MAC systems were consistent with the shifts in the institutional context. Along with changes in the institutional environment, the case company sought to configure its MAC system to be more risk-based to achieve its strategic goals effectively and maintain its sustainability. Originality/value - This research provides a fuller view of risk-based management controls based on the social, professional and political perspectives central to the examined institutional environment. Moreover, unlike early studies that reported resistance to RBC, this case reveals the institutional dynamics contributing to the successful implementation of RBC in an emerging market.

Keywords: Management accounting and control; Risk-based control; Institutional multiplicity; Insurance; Egypt (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:qrampp:qram-05-2023-0087

DOI: 10.1108/QRAM-05-2023-0087

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