Vlerick wins prestigious CIMA research grant
Vlerick Leuven Gent Management School has won a highly sought after research grant from the Chartered Institute of Management Accountants (CIMA) to study performance management that will help businesses by investigating performance and risk reporting to the board of directors. CIMA funds cutting edge research at business schools around the world.
Vlerick Professor Regine Slagmulder submitted the research proposal that was awarded the grant following a call from CIMA to investigate how performance management has evolved in the past two decades and to identify which organisations are now market leaders in this area. The project at Vlerick Leuven Gent Management School will investigate how performance and risk information is collated and received by boards of directors and examine to what extent this reporting is influenced by the board’s involvement in the company’s strategy process.
Applications were received from 14 different countries across four continents and after a rigorous selection process Vlerick Leuven Gent Management School produced the only project to receive funding outside the UK and one of only four projects to be awarded funding. The research will be completed next year as part of the celebration for the 20th and 25th anniversaries of two seminal pieces of management accounting work, the Balanced Scorecard and Relevance Lost.
Regine Slagmulder, Professor of Accounting & Control at Vlerick: ‘There is a growing interest in the corporate world in the role and quality of information in the work of boards, fuelled by calls for regulatory action in the aftermath of the economic crisis. In particular, integrated performance and risk management as it pertains to the managerial reporting function is an emerging space for finance professionals who want to add value to the company’s success. Our limited understanding of the content and flow of board-level information calls for research on this topic and we are excited to join forces with CIMA as the world’s leading professional organization.’
Naomi Smith, R&D Manager at CIMA: ‘The last 20 years have seen corporate scandals, the dot-com bubble and the sub-prime debt crisis and these have shifted the role of management accountants from reporting and controlling through planning and analysis, to proactive performance management. It is our hope that this research will highlight best practice and lessons that can be used by companies in improving performance management.’
The Chartered Institute of Management Accountants, founded in 1919, is the world’s leading and largest professional body of Management Accountants, with 183,000 members and students operating in 168 countries, working at the heart of business. CIMA members and students work in industry, commerce and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers’ choice when recruiting financially-trained business leaders.