This paper is based upon the initial findings of a CIMA research project into the way in which corporate performance measurement systems are influenced by the use of shareholder value management techniques. It compares and contrasts the techniques in use in a sample of 10 companies that either explicitly use shareholder value techniques also known as Value‐Based Management (VBM), or explicitly do not use such techniques. The analysis undertaken is based upon the finding of semi‐structured interviews with company representatives which formed the first part of the data collection process of the project. The analysis traces the interactions between corporate objectives, decision making criteria, performance measurement systems and executive incentive schemes in order to develop an understanding of the effects of such shareholder value techniques upon corporate behaviour. The literature reviewed suggests that the other aspects of the planning and control system should be aligned with the corporate objectives whether a company has adopted VBM or not. Therefore this research contributes new evidence on the use of VBM techniques in the UK and also more generally on whether VBM and non‐VBM companies internal planning and control systems are aligned.
Journal of Applied Accounting Research – Emerald Publishing
Published: Dec 1, 2000
Keywords: Corporate behaviour; VBM techniques; Shareholders
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