BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

BazEkon home page

Meny główne

Autor
Tuan Vuong Khanh (Malaysia University of Science and Technology), Rajagopal Premkumar (Malaysia University of Science and Technology)
Tytuł
The Mediating Effect of the Budget Process on the Performance of Small- and Medium-Sized Enterprises in Ho Chi Minh City, Vietnam
Źródło
Journal of Entrepreneurship, Management and Innovation (JEMI), 2022, vol. 18, nr 1, s. 65-92, tab., wykr., bibliogr. s. 85-91
Tytuł własny numeru
Entrepreneurship and Innovation in the Age of Digital Transformation
Słowa kluczowe
Małe i średnie przedsiębiorstwa, Zarządzanie wynikami, Zaangażowanie organizacyjne, Planowanie budżetowe, Kontrola zarządcza
Small business, Performance appraisal, Organizational commitment, Budget planning, Management control
Uwagi
Klasyfikacja JEL: M10, M16, M19
streszcz., summ.
Kraj/Region
Wietnam
Vietnam
Abstrakt
CEL: Celem tego badania jest wsparcie sektora małych i średnich przedsiębiorstw (MŚP) w Ho Chi Minh City (HCMC), co skutkuje ulepszeniem, lepszą wydajnością zarządzania i zrównoważonym przyjęciem korzystnych praktyk konkurencyjnych dostosowanych do współczesności. Badanie przeprowadzono w celu określenia kluczowych czynników zarządczych, które wpływają na wyniki wietnamskich MŚP. Przeanalizowaliśmy takie czynniki, jak planowanie biznesowe, zaangażowanie organizacyjne, wdrażanie strategii i kontrola zarządcza, przyjmując jako czynnik pośredniczący proces budżetowy, który pozytywnie wpływa na wyniki MŚP. METODYKA: W badaniu pilotażowym zebraliśmy 105 próbek i przeanalizowaliśmy wyniki w celu zbadania i potwierdzenia wiarygodności instrumentu badawczego. W badaniu pilotażowym zastosowano podejście ilościowe, w którym testowano wiarygodność za pomocą analizy alfa Chronbacha i eksploracyjnej (EFA) z oprogramowaniem IBM SPSS 20.0. Rzeczywiste badanie przeprowadzono z wykorzystaniem analizy ilościowej, w której technikę randomizacji zastosowano na 403 próbie. Pełna ilość danych została przetestowana za pomocą alfa Cronbacha, konfirmacyjnej analizy czynnikowej (CFA) i EFA. Modelowanie równań strukturalnych (SEM) zostało wykorzystane do przetestowania zarówno ram koncepcyjnych, jak i hipotez rzeczywistego badania. Badanie przeprowadzono w okresie od października 2016 do czerwca 2020. WYNIKI: Analiza MŚP zidentyfikowała czynnik pośredniczący, proces budżetowy, jako mający istotny wpływ na czynnik zależny, czyli wyniki MŚP. Jeśli chodzi o łączny wpływ na wyniki MSP, spośród czterech czynników zarządzania, czynnikiem o największym pozytywnym łącznym wpływie na wyniki MSP było wdrożenie strategii. Drugim największym pozytywnym łącznym wpływem na wyniki MŚP było zaangażowanie organizacyjne; trzecim co do wielkości pozytywnym efektem łącznym było planowanie biznesowe; a czwartym była kontrola zarządcza. Można zatem stwierdzić, że gdy menedżerowie MŚP zmienią te kluczowe czynniki, zmienią one poziom wydajności swoich przedsiębiorstw. IMPLIKACJE: Badanie to dostarcza wglądu w zarządzanie wydajnością MŚP oraz w jaki sposób czynniki zarządcze wpływają na poziom tego zarządzania wydajnością. W wyniku badania zidentyfikowano następujące kluczowe czynniki: realizacja strategii, zaangażowanie organizacji, planowanie biznesowe, kontrola zarządcza oraz pośrednicząca rola procesu budżetowego. Te czynniki związane z zarządzaniem mają znaczący wpływ na wyniki MŚP, a implikacja teorii opiera się na zarządzaniu wynikami, aby przyczynić się do rozwoju dziedziny zarządzania. Ten model badawczy można zastosować do praktyk zarządzania w celu restrukturyzacji, innowacji i poprawy ogólnych wyników MŚP. Ponadto badanie to zapewnia MŚP procedury zarządzania, które umożliwią im konkurowanie, adaptację i poprawę zrównoważenia na rynku globalnym. ORYGINALNOŚĆ/WARTOŚĆ: Model ten zapewnia naukowcom i praktykom bezcenną wiedzę niezbędną do zarządzania wydajnością przedsiębiorstwa, która pomoże MŚP w rozwoju jako zrównoważonych i konkurencyjnych graczy na rynku. (abstrakt oryginalny)

PURPOSE: The purpose of this study is to aid the small- and medium-sized enterprise (SME) sector in Ho Chi Minh City (HCMC), resulting in enhancement, improved management performance, and sustainability in adopting beneficial competitive practices aligned to the new era. The study was conducted to determine the key managerial factors that affect the performance of Vietnamese SMEs. We analyzed factors like business planning, organizational commitment, strategy implementation, and managerial control, adopting the budget process as the mediating factor, as it was determined to positively affect SME performance. METHODOLOGY: In the pilot study, we collected 105 samples using the convenience technique and analyzed the results to examine and validate the reliability of the research instrument. A quantitative approach was used in the pilot study, which tested for reliability using Cronbach's alpha and exploratory factor analysis (EFA) with the software IBM SPSS 20.0. The real study was conducted using quantitative analysis, where the randomization technique was applied to 403 suitable samples. A full quantity of data was tested using Cronbach's alpha, confirmatory factor analysis (CFA), and EFA. Structural equation modelling (SEM) was used to test both the conceptual framework and the hypothesis of the real study. This study was conducted from October 2016 to June 2020. FINDINGS: Analysis of SMEs identified the mediating factor, budget process, as having a significant effect on the dependent factor, SME performance. Regarding the total effect on SME performance, among four independent variables, the variable with the highest positive total effect on SME performance was strategy implementation. The second highest positive total effect on SME performance was organizational commitment; the third highest positive total effect was business planning; and the fourth was managerial control. Therefore, it can be concluded that when SME managers change these key factors, they will change the level of performance for their enterprises. IMPLICATIONS: This research provides insight into the performance management of SMEs and how managerial factors affect the level of this performance management. In the results of study, the following key factors have been identified: strategy implementation, organizational commitment, business planning, managerial control, and the mediating role of the budget process. These independent variables have significant total effects on SME performance, and the theory's implication builds on performance management to contribute to the field of management. This research model can be applied to management practices to restructure, innovate, and improve the overall performance of SMEs. Additionally, this study will provide SMEs with management procedures to compete, adapt, and enhance their sustainability within the global market. ORIGINALITY/VALUE: This model provides researchers and practitioners with the invaluable knowledge needed to manage enterprise performance, which will assist SMEs in developing as sustainable and competitive players in this new era. (original abstract)
Pełny tekst
Pokaż
Bibliografia
Pokaż
  1. Ahmad, K., & Zabri, S.M. (2016). The effect of non-financial performance measurement system on firm performance. International Journal of Economics and Financial Issues, 6(S6), 50-54. http://www.econjournals.com/index.php/ijefi/article/view/3149
  2. Allen, N.J., & Meyer, J.P. (1990). The measurement and antecedents of affective, continuance and normative commitment to the organization. Journal of Occupational Psychology, 63(1), 1-18. https://doi.org/10.1111/j.2044-8325.1990.tb00506.x
  3. Allen, N.J., & Meyer, J.P. (1991). A three-component conceptualization of organizational commitment. Human Resource Management Review, 1, 61-89. http://dx.doi.org/10.1016/1053-4822(91)90011-Z
  4. Ardiansyah., Isnurhadi, H., & Widiyanti, H.M. (2019). The effect of budget participation on budget performance with organizational commitment as a moderating variable: Case study at the Public Service Agency (BLU) of Sriwijaya University. International Journal of Scientific Research and Engineering Development, 2(1), 256-269. http://www.ijsred.com/volume2/issue1/IJSRED-V2I1P30.pdf
  5. Ax, C., Johansson, C., & Kullvén, H. (2002). Den nya Ekonomistyrningen (2. uppl.ed.). Malmö: Liber ekonomi.
  6. Anthony, R.N. (1965). Planning and Control Systems: A Framework for Analysis. Boston: Division of Research, Graduate School of Business Administration, Harvard University.
  7. Badu, I., Awaluddin, I., & Mas'ud, A. (2019). Pengaruh partisipasi penyusunan anggaran, Komitmen Organisasi, Profesionalisme, Gaya Kepemimpinan dan Struktur Organisasi Terhadap Kinerja Managerial. Jurnal Progres Ekonomi Pembangunan, 4(1), 99-113. http://dx.doi.org/10.33772/jpep.v4i1.6247
  8. Banks, K. (2018). The importance of budgeting in business. Retrieved from https://wlf.com.au/importance-budgeting-business
  9. Batilmurik, R. W., Noermijati., Acmad S.., & Fatur, R. (2019). Organizational commitment of police officers: A static study technique in Indonesian national police. Journal of Advanced Research in Dynamic and Control Systems, 11(02), 1876-1884. https://www.jardcs.org/abstract.php?id=1568
  10. Bragg, S. (2018). Limitations of financial statements. Retrieved from https://www.accountingtools.com/articles/limitations-of-financial-statements.html.
  11. Brinkmann, J., Grichnik, D., & Kapsa, D. (2010). Should entrepreneurs plan or just storm the castle? A meta-analysis on contextual factors impacting the business planning-performance relationship in small firms. Journal of Business Venturing, 25(1), 24-40. http://dx.doi.org/10.1016/j.jbusvent.2008.10.007
  12. Burns, P., & Dewhurst, J. (1990). Small Business and Entrepreneurship. Basingstoke: Macmillan Education.
  13. Cambalikova, A., & Misun, J. (2017). The importance of control in managerial work. In International Conference Socio-Economic Perspectives in The Age of XXI Century Globalization (pp. 218-229). Retrieved from https://mpra.ub.uni-muenchen.de/83776/
  14. Chu, H. M. (2015). Factors affecting to budget process in small and medium-sized enterprises (SMEs) in Ho Chi Minh City-Vietnam [Master's thesis, Ho Chi Minh City University of Technology].
  15. Donna, O. K. (2018). Strategy implementation and organizational performance among institutions of higher learning in Kiambu County [Master's thesis, Kenyatta University].
  16. Dunk, A. S. (1993). The effects of job-related tension on managerial performance in participative budgetary settings. Accounting Organizations and Society, 18(7/8), 575-585. https://doi.org/10.1016/0361-3682(93)90043-6
  17. Eke, G. O. (2018). Internal control and financial performance of hospitality organizations in Rivers State. European Journal of Accounting, Auditing and Finance Research, 6(3), 32-52.
  18. Gomera, S., Chinyamurindi, W. T., & Mishi, S. (2018). Relationship between strategic planning and financial performance: The case of small, micro and medium-scale businesses in the Buffalo city metropolitan. South African Journal of Economic and Management Sciences, 21(1), 1-9. https://doi.org/10.4102/sajems.v21i1.1634.
  19. Govindarajan, V. (1986). Impact of participation in the budgetary process on managerial attitudes and performance: Universalistic and contingency perspectives. Decisions Sciences, 17(4), 496- 516. https://doi.org/10.1111/j.1540-5915.1986.tb00240.x
  20. Griffins, L. W. (2006). Strategic planning: Concept and cases. Strategic Management Journal, 16(2), 71-83.
  21. Hair, J. F., Anderson R. E., Tatham R. L., & Black, W. C. (1992). Multivariate Data Analysis with Readings, (3rd edition). Macmillan, New York.
  22. Hariyanto, E. (2018). Effect of participation budgeting on manager performance: Goal commitment and motivation as moderating variable. In Advances in Social Sciences, Education and Humanities Research. 5th International Conference on Community Development (AMCA 2018), Atlantis Press. https://doi.org/10.2991/amca-18.2018.91
  23. Ibrahim, M., Sulaima, M., Kahtani, A. A., & Abu-Jarad, I. (2012). The relationship between strategy implementation and performance of manufacturing firms in Indonesia: The role of formality structure as a moderator. World Applied Sciences Journal, 20(7), 955-964. https://doi.org/10.5829/idosi.wasj.2012.20.07.2799.
  24. Jones, G., George, J., & Hill, C. (1998), Contemporary Management. New York: McGraw-Hill.
  25. Khan M.R., Ziauddin, Jam F.A., & Ramay M.I. (2010). The impact of organisational commitment on employee job performance. European Journal of Social Sciences. 15(3), 292-298.
  26. Kihara, M. P. (2016). Influence of strategy implementation on the performance of manufacturing small and medium firms in Kenya [Doctoral dissertation, Jomo Kenyatta University of Agriculture and Technology].
  27. Kimunguyi, S., Memba, F., & Njeru, A. (2015). Effect of budgetary process on financial performance of NGOs in heath sector in Kenya. International Journal of Business and Social Science, 6(12), 163-172.
  28. Kochik, S. (2011). Budget participation in Malaysian Local Authorites. [Doctoral dissertation, Aston University].
  29. Lakis, V., & Giriunas, L. (2012). The concept of internal control system: Theoretical aspect. Ekonomika, 91(2), 142-152. http://dx.doi.org/10.15388/Ekon.2012.0.890
  30. Lam, M. T. (2017). Exploring the practice and application of strategic management in small and medium sized enterprises (SMEs) in Dong Thap province of Vietnam. International Journal of Scientific & Engineering Research, 8(10), 1067-1072.
  31. Le, Q. H. (2016). Data Analysis in Business. Vietnam: Economics Publication of HCMC.
  32. Li, W., Nan, X., & Mo, Z. (2010). Effects of budgetary goal characteristics on managerial attitudes and performance. In 2010 International Conference on Management and Service Science (pp. 1-5). https://doi.org/10.1109/ICMSS.2010.5578521.
  33. Luu, T. T. (2010). Organizational culture, leadership and performance measurement integratedness. International Journal of Management and Enterprise Development, 9(3), 251-275. https://doi.org/10.1504/IJMED.2010.037066
  34. Manafe, J. D., & Setyorini, T. (2019). The impact of organizational commitment as mediator and moderator relationship between budgeting participation on managerial performance: Evidence from Indonesia. The International Journal of Social Sciences World, 1(1), 1-10. https://doi.org/10.5281/zenodo.3522567.
  35. Mashovic, A. (2018). Key financial and nonfinancial measures for performance evaluation of foreign subsidiaries. Journal of Contemporary Economic and Business Issues, 5(2), 63-74.
  36. Mihaila, S., Ghedrovici O., & Badicu, G. (2015). The importance of budgeting for strategy implementation. European journal of Accounting, finance and Business, 3(2), 57-69.
  37. Moshood, B., Sanjo, O. M., & Taofeek, A., & Eze, B. U. (2019). Employee commitment and firm performance: Evidence from a manufacturing firm in Nigeria. Hallmark University Journal of Management and Social Sciences, 1-3. Retrieved from https://www.hallmarkuniversity.edu.ng/portal/FileUploads/Hallmark%20Journal,%20HUJMSS%20Vol.%201,%20No.%203.pdf
  38. Mowday, R. T., Steers, R. M., & Porter, L. W. (1979). The measurement of organizational commitment. Journal of Vocational Behavior, 14(2), 224-247. https://doi.org/10.1016/0001-8791(79)90072-1
  39. Ngo, V. M., & Nguyen. H. H. (2016). The relationship between service quality, customer satisfaction and customer loyalty: An investigation in Vietnamese retail banking sector. Journal of Competitiveness, 8(2), 103 - 116. https://doi.org/10.7441/joc.2016.02.08
  40. Ngugi, C. N., Kihara, P., & Munga, J. (2017). Relationship between strategy implementation and performance of insurance firms in Nairobi-Kenya. The Strategic Journal of Business & Change Management, 3(2), 15-31.
  41. Nguyen, T. H., Khuu, T. Q., & Nguyen, N. D. L. (2018). Determinants of firm growth: Evidence from Vietnamese SMEs. Journal of Economics and Development, 20(3), 71-87. https://doi.org/ 10.33301/JED-P-2018-20-03-05
  42. Nguyen, T. T. T. (2019). Analysis of the management process to enhance SMEs performance in Ho Chi Minh City. International Journal of New Technology and Research, 5(12), 09-15.
  43. Nouri, H., & Parker, R. J. (1998). The relationship between budget participation and job performance: The role of budget adequacy and organizational commitment. Accounting Organizational and Society, 23(5/6), 467-483. https://doi.org/10.1016/S0361-3682(97)00036-6
  44. Nzewi, H. N., & Ojiagu, N. C. (2015). Strategic planning and performance of commercial banks in Nigeria. International Journal of Scientific & Technology Research, 4(5), 238-246.
  45. Obiero, J. O. & Genga, P. (2018). Strategy implementation and performance of Kenya Revenue Authority. International Academic Journal of Human Resource and Business Administration, 3(3),15-30.
  46. Ogiedu, K. O. & Odia, J. (2013). Relationship between budget participation, budget procedural fairnes, organizational commitment and managerial performance. Review of Public Administration and Management, 2(3), 234-250. https://doi.org/10.4172/2315-7844.1000138
  47. Okoye, E. I., Odum, A. N., & Odum, C. (2017). Effect of balanced scorecard on firm value: The case of quoted manufacturing companies in Nigeria. In The 2017 International Conference on African Entrepreneurship and Innovation for Sustainable Development (AEISD). Retrieved from https://ssrn.com/abstract=3038680.
  48. Omosidi, A. S., Oguntunde, D. A., Oluwalola, F. K., & Ajao R. L. (2019). Budget implementation strategies and organisational effectiveness in colleges of education in Nigeria. Makerere Journal of Higher Education, 10(2), 119-131. http://dx.doi.org/10.4314/majohe.v10i2.9
  49. Omotayo, O. O., Michael, O. O., & Andre, A. A. (2018). Strategic planning and corporate performance in the Nigerian banking industry. Asian Journal of Economics, Business and Accounting, 7(2), 1-12. http://dx.doi.org/10.9734/AJEBA/2018/36118
  50. Peronja, I. (2015). Performance effects of the business process change in large enterprises: The case of Croatia. Management, 20(1), 1-22.
  51. Phan, U. H. P., Nguyen, P. V., Mai. K. T., & Le. T. P. (2015). Key determinants of SMEs in Vietnam. Combining quantitative and qualitative studies. Review of European Studies, 7(11), 359-375. http://dx.doi.org/10.5539/res.v7n11p359
  52. Pimpong, S., & Laryea, H. (2016). Budgeting and its impact on financial performance: The case of non-bank financial institutions in Ghana. International Journal of Academic Research and Reflection, 4(5), 12-22.
  53. Porter, L. W., Steers, R. M., Mowday, R. T., & Boulian, P. V. (1974). Organizational commitment, job satisfaction, and turnover among psychiatric technicians. Journal of Applied Psychology, 59(5), 603-609. https://doi.org/10.1037/h0037335
  54. Princy, K., & Rebeka, E. (2019). Employee commitment on organizational performance. International Journal of Recent Technology and Engineering, 8(3), 891-895. https://doi.org/10.35940/ijrte.C4078.098319.
  55. Putri, Y., & Solikhah, B. (2018). Organizational commitment, information asymmetry, and the nature of conscientiousness as moderating the relationship of budget participation to budgetary slack. Accounting Analysis Journal, 7(3), 176-182. https://doi.org/10.15294/aaj.v7i3.22278
  56. Qi, Y. (2010). The impact of the budgeting process on performance in small and medium-sized firms in China [Doctoral dissertation, Enschede: University of Twente]. https://doi: 10.3990/1.9789036529839.
  57. Rachman, A. A. (2014). The effect of organization commitment and procedural fairness on participative budgeting and its implication to performance moderating by management accounting information (A survey on province Local Government Unit Agencies of West Java). Review of Integrative Business And Economics, 3(1), 201-218.
  58. Recep, B., Mahmut, D., & Murat, D. (2010). Organizational commitment and case study on the union of municipalities of Marmara. Regional and Sectoral Economic Studies, 10(2), 29-52.
  59. Santos, J. B & Brito. L. A. L. (2012). Toward a subjective measurement model for firm performance. Brazilian Administration Review, 9(6), 95-117. https://doi.org/10.1590/S1807-76922012000500007
  60. Steers, R. M. (1977). Antecedents and outcomes of organizational commitment. Administrative Science Quarterly, 22(1), 46-56. https://doi.org/10.2307/2391745
  61. Suárez, C. A. (2017). Internal control systems leading to family business performance in Mexico: A framework analysis. Journal of International Business Research, 16(1).
  62. Susanti, N., Eprillison, V., & Jolianis, J. (2018). Budgeting participation and managerial performance of government apparatus. Advances in Economics, Business and Management Research, 64, 73-79. https://doi.org/10.2991/piceeba2-18.2019.10
  63. Shamsudeen, K., Keat, O. Y., & Hassan, H. (2016). Assessing the impact of viable business plan on the performance of Nigerian SMEs: A Study among Some Selected SMEs Operators in North-Western Nigeria. MAYFEB. Journal of Business and Management, 1, 18-25.
  64. Tran, N. T. (2019). Improvement of Vietnamese small and medium enterprises competitiveness in international integration. Political Theory Journal. Retrieved from http://lyluanchinhtri.vn/home/en/index.php/practice/item/642-improvement-of-vietnamese-small-and-medium-enterprises-competitiveness-in-international-integration.html.
  65. Van, T. T. T. (2015), Budgeting practices in Vietnam: A survey in Da Nang city [Master's thesis, Oulu Business School].
  66. Ward, S. (2019). SME definitions vary from country to country. Retrieved from https://www.thebalancesmb.com/sme-small-to-medium-enterprise-definition 2947962.
  67. Weissenberger-Eibl, M. A., Almeida, A., & Seus, F., (2019). A systems thinking approach to corporate strategy development. Systems, 7(16), 1-10. https://doi.org/10.3390/systems7010016
  68. Wong-On-Wing, B., Guo, L., & Lui, G. (2010). Intrinsic and extrinsic motivation and participation in budgeting: Antecedents and consequences. Behavioral Research in Accounting 22(2), 133-153. https://doi.org/10.2308/bria.2010.22.2.133
  69. Yuen, D. C. Y., & Cheung, D. C. Y. (2003). Impact of participation in budgeting and information asymmetry on managerial performance in the Macau service sector. Journal of Applied Management Accounting Research, 1(2), 65-78.
  70. Yulia, Y. (2017). Effective business planning case study: Company x [Bachelor's thesis, Lahti University of Applied Sciences].
  71. Zainuddin, Y., Yahya, S., Kader Ali, N.N., & Abuenniran, A. S. (2008). The consequences of information asymmetry, task and environmental uncertainty on budget participation: Evidence from Malaysian managers. International Journal of Managerial and Financial Accounting, 1(1), 97-114. http://dx.doi.org/10.1504/IJMFA.2008.020464
  72. Zefeiti, S. M. B., & Mohamad, N. A. (2017). The influence of organizational commitment on Omani public employees' work performance. International Review of Management and Marketing, 7(2), 151-160.
Cytowane przez
Pokaż
ISSN
2299-7075
Język
eng
URI / DOI
https://doi.org/10.7341/20221813
Udostępnij na Facebooku Udostępnij na Twitterze Udostępnij na Google+ Udostępnij na Pinterest Udostępnij na LinkedIn Wyślij znajomemu