JOURNAL OF CRITICAL REVIEWS

ISSN- 2394-5125 VOL 7, ISSUE 10, 2020 The Impact of in : Analysis of Past and Future

Ms. Smita Barik1, Ms. Namrata Singh2

12Dept. of Management Noida Institute of Engineering and Technology, Greater Noida, Uttar Pradesh Email Id- [email protected], [email protected]

Received: 6 February 2020 Revised and Accepted: 21 May 2020

ABSTRACT: The aim of this paper is to investigate the influence of research on issues associated with this subject, by reviewing the literature and finding some new ways of study. The paper supports both and praxis in this way. This actually supports work in the emerging areas of research that has so far been focused mainly on the determinants of effect loss rather than on the essence of the effects of management accounting study and its assessment. It aims to analyze how studies have so far progressed in management accounting with regard to the issue at stake and to suggest at the same time possible avenues for future research. This work also aims to encourage new research focusing on management accounting research instruments or methods for measuring the impact of management research; such instruments may be useful for funding institutions and assessment agencies that may be more equipped to bring out an ex-ante and an ex-post assessment of the influence of management accounting research projects on society. KEYWORDS: Literature Review, Management Accounting, Research Impact, Research Relevance

I. INTRODUCTION The discussion on the importance of scientific research has increased considerably in recent years. Academics are under pressure as they are increasingly called upon to show the social effects of their research. This pressure is based on the need for funding agencies and governments to justify the allocation of scientific research resources to demonstrate how scientific research may in fact contribute to improving the economic, social, cultural and environmental conditions of the community or a country[1], [2]. In addition, given the limits of scientific research resources, it is also necessary to make full usage of them to maximize returns to society. Accordingly, students are asked to show their research's potential impact in order to increase their likelihood of being sponsored. In this sense, students have started to address the importance of their work in a variety of disciplines[3], [4]. In some cases, the discussion on importance begins at the outset and is mainly focused on the determinations of its success or on the root causes of its failure to seek solutions to improve the significance of scientific research. In other cases, the controversy has grown and lead to the development of tools to allow a consistent assessment of the effect of scientific research on society[5], [6]. This refers to medical studies that have progressed very quickly in model production, such as the Payback Model, the Canadian of Health Science Impact Structure and the Economic Value of Medical Research, which seek to provide accurate assessment of the impact of science. It should not be understood as "delays" in some people's eyes towards other academic disciplines at different stages of the difficult process leading to the measurement of the impact of scientific research[7], [8]. Instead, it is the result of its key distinctive elements that can have a profound influence on the major issue-solving process of scientific research. When science deals with societal issues, i.e., when a strong relation exists between an objective of research and a perceived need of society or, in general terms, a social issue, it is very quickly activated by the abovementioned problem-raising process and aimed primarily at developing measures that can ensure a reliable evaluation of the impact of research. This is because the closeness of the connection between the object for research and its utility for society is explicit; therefore, it does not have to be discussed and is often an assumption acknowledged. In other words, it is not worth proving that it "deserves," but rather that it should be quantified. On the contrary, academic disciplines such as Social Sciences and Humanities, in the context of, for example, not explicitly linked to the subject of research and the perceived need for a society, demonstrate that there can be an impact or reflect on the causes that have no impact. As a consequence, the problem-setting method for determining impact represents a next step that can be achieved if an effect has already been shown, discussed and

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ISSN- 2394-5125 VOL 7, ISSUE 10, 2020 acknowledged. The impact of management accounting research is the focus of this paper[9], [10]. The goal of the study is specifically to examine how studies have developed up to now in the management accounting sector in relation to the issue at stake and, simultaneously, to find some potential ways to inform further work. The paper aims to contribute to existing literature through the systematic approach to the impact already studied. On the other hand, the goal is to provide information into how more work can strengthen the difference with other fields in which studies on the effects of technology have reached a higher level of achievement. The paper has been organized accordingly. In the second part, the concept of impact is introduced by exploring the reasons for the study and the interpretation of existing literature. The third section analyzes the state of the art of management accounting analysis in regard to its effect. This seeks in particular to give an overview of the research carried out and to systematize the work published in a specific literature. The fourth section presents some directions that could inform future management accounting analysis, and the fifth, ultimately, gives some concluding observations. 1. Research Impact: Meaning and Origin: In both theory and practice, the growing interest in the influence of scientific research has its origins. As far as theory is concerned, scholars in various fields of research are increasingly aware of the existence of a gap between theory and practice, which has increased over time. This has attracted the attention of many researchers who have conducted a study of the reasons behind this lack of significance and of the approaches they may pursue to reduce the difference, as well as the possibility that this gap could jeopardize the effect on scientific research. At the same time, some specialist publications such as Research Analysis or Scientometrics helped establish academic discussion on the issue and proved that this is a real "hot topic" for its practical implications for the entire society. Besides an interest in science that is triggered by scholars and academic journals, praxis played an essential role in promoting and cultivating a dialogue on the impacts of research. Research-funding agencies are in particular constantly looking for ways of providing accurate assessment of the influence of science research, to demonstrate the results of their financial decisions and to inform future funded policies, on the development of public interest. The European Union has therefore funded and financed many research projects focused on the creation of practical tools to measure the effects of scientific research. The project IMPACT-EV, which was launched in January 2014 and was completed in December 2017 (Note 1) (Evaluation of Impact and Results of the EU SSH Research), was among the most important in the development of the ongoing discovery, tracking and assessments program for the different impacts on social sciences, sciences and humanities of research. In similar terms, the SIMPATIC (Note 2) initiative, initiated in March 2012 and finished in February 2015, aimed at giving policy makers a robust and functional toolbox to allow for a better impact assessment of research and innovation policies in Europe. The project aims at supplying the policymakers with an interconnected and operating toolbox. Another example is the SIAMPI project (Note 3), which began in 2009 and ended in 2011 and includes a Social Impact Assessment methodology for research and funding instruments. The fundamental assumption that SIAMPI is based on is that science and society can be productive in their interaction. In that context, the assessment of the references between researchers and stakeholders in an effort to build together knowledge that is useful to them should include analyzing their intensity and measuring them. These are only a few of the initiatives undertaken to investigate and assess the results of scientific research over the years. The importance of the functions of experience in this matter is demonstrated by the fact that it has been supported by the supporting collaborators of science and at least in principle by end users, direct or indirect. Similarly, it ought to be noted that the practice encouraged studies because National Research Assessment Agencies tend to consider research impact as one of the main qualitative assessment criteria for academic research. In the United Kingdom, the "Research Excellence Framework" (Note 4) (REF) found that 20 percent of the research evaluation activities for 2014 should be based on the effects of research beyond the academic dimension, specifically: "the effect on, change or benefit to the economy, society, culture, public policies and services, health, environmental conditions or the quality of life beyond the academia”. The Standard Assessment Protocol 2015-2021 in the Netherlands (Note 5) stipulates that each research unit must plan a "narrative," which describes the relevance of the work of the research unit to the community and the social effects of that work on added value. This provides important evidence that the method deliberately encourages science research on how it can be concretely analyzed in an effort to analyze academic results more thoroughly. 2. A Study of Management Accounting Impact Research Studies: The controversy on the importance of accounting management analysis has its origins in the seminal work "relevance Lost: the fall and rise of management accounting" by Johnson and Kaplan. The authors emphasized the obsolescence of management accounting practices, concentrating on the use and benefit of financial information in regulation of production processes. From that introduction, other researchers have pointed out the difference between academic research and practice, and have raised issues relating in particular to its causes. By doing this they have recognized that accounting and accounting work is losing its social significance slowly and also promoted the need for solutions to address this problem. It should be argued that there is not much

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ISSN- 2394-5125 VOL 7, ISSUE 10, 2020 debate among researchers about the definition of an actual loss of significance for, e.g. influence of the management accounting research. Rather, the general recognition that this is an evident and ongoing process appears to be generalized. Only a few contributions explored the true existence of an empirical difference between theory and practice. For example, researchers performed quantitative analyze to show that management accounting academics are viewed as having progressively lost significance for their studies. Furthermore, their research focuses on senior academics as they emphasize. The opinion of practitioners is thus not considered essential to demonstrate that there is a real gap among theory and practice. The perspectives of practitioners contrast the views of the representatives of professional accounting bodies in Australia and Germany on the gap among practice and theory. The authors show that the importance of problems and connectivity concerns are two of the most important challenges to the effects of management accounting analysis. Researchers explore the practical significance of public sector accounting research by analyzing research published in international accounting journals in order to determine whether their purposes are educational. Their findings substantially support the idea that the orientation towards practical issues is very small and that this does not lead to the establishment of specific guidelines that are useful to practitioners even when practical implications are recognized and communicated. Most of the literature has concentrated on factors that determine the lack of importance in accounting analysis in management. The inconsistency of the research object is one of them most importantly advocated. Researchers noted that before translation managers seem to be lost. In other words, they do not discuss with practitioners concern. This is the opinion of many academics. Based on this experience, the tendency of management accounting scholars is not only to investigate realistic and technical problems that are useful to professionals, but rather to create detailed theoretical contributions. Similarly, accounting work in management loses scientific complexity due to the over relevant social dimension assigned to scholars. Interestingly, this emphasis on social aspects relating to accounting systems are the result that pre- adopted theories are interpreted rather than accounting phenomena, as a basis for determining what could be of interest and therefore what should lead to research. This is in line with the researcher who points out that, "The dynamic behind the development of the accounting research agenda is frequently based on the methodology and seems to be in fashion for the academic community rather than influenced by the shifting concerns of professionals, regulators or the wide public." Essentially, starting from the premise that the influence of management accounts is based on the way that managers respond to what they do, and therefore to whom they consider they can be beneficial, one of the main causes of lack of significance is the failure to identify research problems that fit the standards of the practitioners of analysis. According to the researchers, it is even more shocking and paradoxical to look at the rise in that have taken on empiricism in recent times in order to investigate management accounting hypotheses. 3. Management Accounting Research Impact: An Agenda: The literature review here presented has shown that researchers are well aware of both the emergence of a gap between theory and practice and of the fact that this is the primary reason for the loss of relevance of management accounting research. However, the current literature has highlighted and studied in detail the factors which could contribute to the above difference and show that various variables can be traced back from the way researchers compose their papers and choose external pressures from the government and assessment agencies. Nevertheless, the hypothesis of the presence of a void seems to be recognized and the literature has studied its determinants in an attempt to find any possible solutions and to propose them. In reality, what seems to be missing and should be the focus of future studies is what happens before and after the acknowledgement of the presence of the difference between theory and practice and the resultant loss of significance. Much research is necessary to define clearly what constitutes the "impact" on accounting management. As mentioned above, while scientists emphasized the lack of importance or power of management accounting research, they have not given a clear image of how influence in management accounting research should be interpreted. This could be seen as a redundant issue. In addition, it has significant implications. The contribution that management accounting research can make to society from theoretical and practical points of view can first strengthen its perceived relevance both in the academic field and beyond. Literature stressed that social sciences and humanities disciplines are less likely to be considered as "impactful" because their social contribution is not "immediate" or "tangible". Therefore, it can be very important to strengthen the theoretical and scientific discussion on how to understand, view and operationalize the effects of management accounting analysis, in order to disperse the idea that management accounting research really can be helpful to communities. In other words, the role that management accounting work can play in creating public interest could be reassessed. Second, it may be important to bring forward an understanding of the nature of the impact of the management accounting research. The lack of contributions to the impact of management accounting research makes it more complex to identify indicators for assessing the effect of management accounting research, as there is no clear idea of the main dimensions in which the impact of management accounting research could be defined. This can partially explain the reasons why the precedents, i.e. the determinants, of the loss of impact have been highly stressed up to now, whereas its assessment has received little attention. In the context of this, a relevant research approach would include a comprehensive and

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ISSN- 2394-5125 VOL 7, ISSUE 10, 2020

epistemological study of the multifaceted essence of the effects of management accounting research and of the various ways of its operation. The opinion of practitioners / professionals should be given priority in conducting research on what constitutes "impact" in the area of management accounting. The study shows that practitioners who participated in the REF have been subject to analysis to understand their expectations and criteria for assessing the impact of research. This is now becoming clear in the academic literature. In this context, comparative analyses between impacts for academics and professionals should not only be encouraged in such a way as to allow variations to emerge but to provide useful insights for research that aim to identify how "impact" in management accounting should be interpreted. The transition from the perspectives of research scientists to the experience of clinicians would also allow us to examine the factors behind the difference between theory and practice-from an analytical point of view. In other words, an empirical contribution could be made to existing literature on the causes that encompass the loss of relevance in management accounting research to show which factors are stronger amongst those identified by the literature, and which can be the object of future analysis.

II. CONCLUSION The effect of management accounting work has been explored in this paper. This is an issue that started to be considered crucial because of the awareness that there will be disconnect between theory and practice. Although this subject has been dedicated to the accounting management literature, it must be pointed out that the review relies on the factors on which the lack of significance is based. In this regard it has often been considered that reducing such factors or trying to reduce their adverse effects is a way for management accounting work to improve its influence. Nevertheless, little has been done to define what "impact" means in management accounting in the field of accounting, what dimensions it constitutes, what means or strategies could be adopted to enhance it, how it can be assessed, and the connections between social and academic impact. This represents new and highly relevant research paths to be explored to improve knowledge about the impact of management accountability research and to help fill the above-mentioned gap. Therefore, clarifying the issues would not only encourage the dissemination of information on the results of management accounting science, but also facilitate cooperation with others, especially with disciplines such as medicine or engineering which have both become a relevant issue in principle and a useful tool in action in the evaluation of the influence of scientific research.

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