Value-based Management System e performance. Il ruolo di moderazione della strategia ibrida e della turbolenza ambientale

Filippo Zanin and Giulio Corazza

MANAGEMENT CONTROL, 2023, vol. 2023/3, issue 3, 63-87

Abstract: This paper contributes to the Value-based Management (VBM) literature by providing empirical evidence on the performance effects that arise from the adop-tion of value-based management systems. Through the analysis of two contingen-cy factors ? strategy, measured by the firm?s hybrid strategic positioning, and envi-ronment, analyzed by the degree of environmental uncertainty ? the present study tries to explain if and how the adoption of VBMS impacts on firm performance. Focusing on 367 non-financial firms indexed in the MSCI Europe index during the period 2013-2018, the paper represents the first effort to investigate the role of the firm?s strategic positioning and environmental turbulence in affecting the relation-ship between VBM systems and firm performance. In particular, the study highlights how VBM can become a powerful tool for man-aging the need of flexibility that arise from internal and external contextual fac-tors, thus enhancing firm performance.

Date: 2023
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