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Article
Publication date: 1 March 1994

SIMON MORRIS

The issue of pension transfers, which has leapt into prominence in recent months, raises complex and novel issues, albeit in relation to alleged breaches of long established…

42

Abstract

The issue of pension transfers, which has leapt into prominence in recent months, raises complex and novel issues, albeit in relation to alleged breaches of long established rules. A pilot study of one aspect of pension transfer sales commissioned by Securities & Investments Board (SIB) has identified significant concerns over the quality of advice given, which in turn raises the possibility that a number of investors may have been disadvantaged, although this cannot be determined from study of the files alone. The apparently widescale breaches, and the potential magnitude of compensation that may be required, are a major concern for a number of product companies and Independent Financial Advisers (IFAs) and this situation is being monitored by the Department of Trade and Industry (DTI). This paper aims to provide an overview of the issues and to suggest some steps that affected firms may consider taking.

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Journal of Financial Regulation and Compliance, vol. 2 no. 3
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 1 April 2000

Simon Morris

The Financial Services and Markets Act (FSMA) will have a significant impact on the UK financial services industry, but it is suggested that it will make relatively few changes in…

79

Abstract

The Financial Services and Markets Act (FSMA) will have a significant impact on the UK financial services industry, but it is suggested that it will make relatively few changes in relation to retail financial services. The new regime will regulate some additional retail investments, and it is possible that the design of polarisation will be altered. The greatest impact, however, is likely to result from the FSA's emphasis on senior management responsibility, whereby firms' senior management will be held personally liable if the firm fails to discharge the key retail duties such as know your customer and giving suitable advice.

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Journal of Financial Regulation and Compliance, vol. 8 no. 4
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 16 November 2019

Josep Bisbe, Anne-Marie Kruis and Paola Madini

Recent accounting research has connected the coercive and enabling types of formalisation (C/E) (Adler and Borys, 1996) with the distinction between diagnostic and interactive…

2893

Abstract

Recent accounting research has connected the coercive and enabling types of formalisation (C/E) (Adler and Borys, 1996) with the distinction between diagnostic and interactive controls (D/I) proposed by Simons (1995, 2000) to tackle research questions on complex control situations involving both the degree of employee autonomy and patterns of management attention. The diverse conceptual approaches used for connecting C/E and D/I have led to fragmentation in the literature and raise concerns about their conceptual clarity. In this paper, we assess the conceptual clarity of various forms of connection between C/E and D/I. Firstly, we conduct an in-depth content analysis of 59 recent papers, and inductively identify three points of conceptual ambiguity and divergence in the literature (namely, the perspective from which a phenomenon is studied; whether categories capture choices driven by design or by style-of-use; and the properties of control systems). We also observe that the literature proposes various forms of connection (i.e. coexistence, inclusion, and combination approaches). Secondly, we use the three detected points of ambiguity and divergence as assessment criteria, and evaluate the extent to which conceptual clarity is at risk under each form of connection. Based on this assessment, we provide guidelines to enhance the conceptual clarity of the connections between C/E and D/I, propose several research models, and indicate opportunities for future research in this area.

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Journal of Accounting Literature, vol. 43 no. 1
Type: Research Article
ISSN: 0737-4607

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Article
Publication date: 1 April 1998

Simon Morris

This paper considers the steps which an authorised firm should be taking to prepare for the requirements of the FSA. While neither the details of the regulatory regime, nor the…

41

Abstract

This paper considers the steps which an authorised firm should be taking to prepare for the requirements of the FSA. While neither the details of the regulatory regime, nor the new rules themselves, have been published, the FSA's concerns are clear enough. Its focus will be on the achievement of high compliance standards, the creation of a robust control environment and the discharge of managerial responsibility. The paper goes on to consider the operational areas upon which FSA is likely to focus, and its requirements for an effective compliance system.

Details

Journal of Financial Regulation and Compliance, vol. 6 no. 4
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 2 July 2020

Roxana Corduneanu and Laura Lebec

Drawing on Simons's levers of control (LoC) framework, the primary aim of this study is to advance an understanding of the balance between empowerment and constraint in a…

351

Abstract

Purpose

Drawing on Simons's levers of control (LoC) framework, the primary aim of this study is to advance an understanding of the balance between empowerment and constraint in a non-profit UK organisation. In particular, this study examines the antecedents and manifestations of LoC (im)balance, in relation to employees' level of engagement with the control systems in place.

Design/methodology/approach

For this study, 27 semi-structured interviews were conducted with different organisational members, from directors to non-managerial staff, to gain an in-depth appreciation of the main differences between managerial intentions in the design of management control systems (MCS) and employee perceptions regarding the role of such systems.

Findings

This research reveals that suppression of interactive systems and internal inconsistencies between different types of controls hinder the balance between empowerment and constraint. This imbalance is then found to have important consequences for employee buy-in, in some cases, defeating the purposes of control.

Research limitations/implications

This study enhances our understanding of the gap between the design of control systems and the employee perceptions of it in an unusual organisational setting (non-profit and bringing together clinical and non-clinical staff and operations).

Originality/value

The study of MCS and its role in organisations has long been the focus of both academic and practitioner research. Yet, while extant literature focused on management's perspective on MCS, few studies have explored employees' attitudes and behaviours that accompany the implementation of control. What is more, little is known about the specific uses and behavioural outcomes of MCS in the context of non-profit organisations. Drawing on Simons's LoC framework, this paper addresses these gaps in the literature and investigates the balance between control and empowerment of employees in a UK non-profit organisation with significant clinical remit.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 32 no. 3
Type: Research Article
ISSN: 1096-3367

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Book part
Publication date: 8 April 2010

Androniki Triantafylli and Apostolos Ballas

This study explores whether the implementation of Management Control Systems (MCS) by the Greek shipping companies influences the adoption of their performance measurement systems…

Abstract

This study explores whether the implementation of Management Control Systems (MCS) by the Greek shipping companies influences the adoption of their performance measurement systems and the implication of this choice on organizational performance. The study uses data collected from semi-structured interviews and a survey instrument addressed to shipping companies located in Greece. The paper finds evidence that MCS are defined in terms of the informational purposes these MCS fulfill. Analysis of responses to the questionnaire results that the choice of MCS is contingent upon the strategy pursued by the shipping companies. In addition, evidence suggests that shipping companies with an optimal fit between their strategy and their MCS experience superior performance and higher perceived usefulness of MCS. Moreover, it is concluded that Greek shipping companies adopt subjective performance measures irrespective of the MCS they implement and that this choice leads to enhanced perceived performance.

Details

Performance Measurement and Management Control: Innovative Concepts and Practices
Type: Book
ISBN: 978-1-84950-725-7

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Book part
Publication date: 23 September 2016

Benson Honig and Christian Hopp

In this chapter, we examine two theorized approaches to entrepreneurial activity: experiential versus prediction based strategies. We empirically assess the comparative…

Abstract

In this chapter, we examine two theorized approaches to entrepreneurial activity: experiential versus prediction based strategies. We empirically assess the comparative performance of several commonly recommended approaches – researching customer needs, researching the competitive landscape, writing a business plan, conceptually adapting the business plan or experimentally adapting the primary business activity. We found that the majority of nascent entrepreneurs began with a business plan, but only about a third adapted their plan in later stages. We also found that talking with customers and examining the competitive landscape were normative activities. Those who started a plan were more likely to create a venture, although the effects much stronger for those who changed their plan later on, as well as for those who researched customer needs.

Our results show that the selection of these activities is both ubiquitous and driven by pre-start-up experience and new venture characteristics. The activities themselves do not robustly link with successful new venture foundation. Hence, pre-start-up experiences, venture characteristics, and the institutional environment are more important in explaining successful performance than recommended activities. Implications for research, practice, and pedagogy are discussed.

Details

Models of Start-up Thinking and Action: Theoretical, Empirical and Pedagogical Approaches
Type: Book
ISBN: 978-1-78635-485-3

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Article
Publication date: 21 February 2025

Fatima Zahra El Arif and Amal Tahiri

This study aims to examine the relationship between the structure of compliance control systems and their effectiveness in financial institutions, considering the moderating…

4

Abstract

Purpose

This study aims to examine the relationship between the structure of compliance control systems and their effectiveness in financial institutions, considering the moderating effects of organizational context.

Design/methodology/approach

Using the contingency theory, a model was developed and tested using structural equation modeling on data collected from 271 compliance professionals in Moroccan financial institutions.

Findings

The structure of compliance control systems directly impacts their effectiveness. This relationship is moderated by organizational size, structure and perceived environmental uncertainty. Larger institutions and those with mechanistic structures show weaker relationships between system structure and effectiveness, while organic structures and higher perceived uncertainty strengthen this relationship.

Research limitations/implications

The study provides a contingent framework for analyzing compliance control systems in financial institutions within their context.

Practical implications

Findings suggest that compliance managers should tailor control systems to their specific organizational context, considering factors such as size, organizational structure and environmental uncertainty.

Originality/value

This study extends the contingency theory to compliance control systems in financial institutions, an area previously underexplored in management control literature.

Details

Journal of Financial Regulation and Compliance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 1 May 2006

Susan G. Michie, Robert S. Dooley and Gerald E. Fryxell

This study attempts to move beyond the “congruence assumption” surrounding top management team (TMT) demography by exploring the intervening processes that link TMT diversity and…

1137

Abstract

Purpose

This study attempts to move beyond the “congruence assumption” surrounding top management team (TMT) demography by exploring the intervening processes that link TMT diversity and organizational performance.

Design/methodology/approach

Using Fiol's concept of unified diversity and employing an information processing perspective of strategic decision‐making, this article proposes a model that incorporates both moderating and mediating influences; and then tests the hypotheses using data from specific strategic decisions faced by 85 top‐level decision‐making teams within the health care industry.

Findings

Evidence was found to support the expectation that goal consensus moderates the relationship between informational diversity and decision quality within the management teams. In addition, team member collaboration was found to partially mediate this effect. Research limitations/implications – The retrospective nature of the data collection captured the essence of the decision‐making process over time, but future research using longitudinal designs that include different types of industries is needed to confirm the validity of the findings.

Practical implications

The practical implications of this study point towards a need for managers to set in motion both divergent and convergent thinking during the strategic decision‐making process. The findings indicate that if managers want to reap the benefits of teams with members from different functional and educational backgrounds, they must instigate some aspect of shared framing among team members, such as consensus on broad organizational goals.

Originality/value

This research identified relevant contingency and mediating variables that help to explain the equivocal results of previous studies attempting to link top management team demography to organizational performance.

Details

International Journal of Organizational Analysis, vol. 14 no. 2
Type: Research Article
ISSN: 1934-8835

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Article
Publication date: 1 May 2019

Lamia Laguir, Issam Laguir and Emmanuel Tchemeni

The purpose of this paper is to take into account Simons’ (1994) formal levers of control framework and more informal processes to examine how organizations implement and manage…

4391

Abstract

Purpose

The purpose of this paper is to take into account Simons’ (1994) formal levers of control framework and more informal processes to examine how organizations implement and manage corporate social responsibility (CSR) activities through management control systems (MCSs).

Design/methodology/approach

A multiple-case study was conducted in ten large French organizations. Qualitative data were collected during in-depth semi-structured interviews with the managers who were best informed on CSR practices and MCSs. The authors then performed within-case and cross-case analysis.

Findings

The study shows that organizations use different MCSs to manage CSR activities directed toward their salient stakeholders – that is, employees, customers, suppliers and community. Specifically, the authors found that social MCSs are used to communicate CSR values, manage risk, evaluate CSR activities, and identify opportunities and threats. In addition, the use of MCSs to implement CSR activities is mainly driven by the need to satisfy salient stakeholder demands, manage legitimacy and reputation issues, and meet top management expectations and enhance their commitment. Last, the use of social MCSs is hindered by a lack of clear strategic CSR objectives and action plans, a lack of global standards and measurement processes for CSR, and a lack of time and financial resources.

Originality/value

The study addresses recent calls in the literature for research into the ways formal and informal control systems are used to implement CSR activities and provides insight that may stimulate further research.

Details

Accounting, Auditing & Accountability Journal, vol. 32 no. 2
Type: Research Article
ISSN: 0951-3574

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