Budgeting practice, Budgeting reconsidered during covid-19
(A survey on listed companies on the Palestine Exchange)
الكلمات المفتاحية:
Budget, Budgeting practice, budgeting reconsidered, COVID-19
الملخص
This paper aims This paper will examine the Budgeting practice; budgeting reconsidered during covid-19 on the budgeting practice for companies listed on the Palestine Exchange, this budget as an act should be followed, by those companies. The sample came from all firms listed Palestine Stock Exchange. Our sample consisted of 620members, A total of 384 surveys were received from respondents through the web-based system with a percentage of 61.9%. After collecting the questionnaire from the respondents, the data was analyzed statistically using the t-statistical program, and based on calculating the mean, standard deviation, and conducting statistical tests. Our findings indicate that the company's continued reliance on the budget was a control tool, which was evident from the respondents to the survey during corona epidemic. But there have been many criticisms of the budget.
المراجع
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2. Albulescu, C. T. (2021). COVID-19 and the United States financial markets’ volatility. Finance Research Letters, 38, 101699.
3. Alrawazqee, A., & Tsatkhlanova, T. (2021). Improve performance or corruption motivation in beyond budget implementation, survey in public sector organizations. Research Journal of Finance and Accounting, 12(6).
4. Alsamhi, M. H., Al-Ofairi, F. A., Farhan, N. H., Al-Ahdal, W. M., & Siddiqui, A. (2022). Impact of Covid-19 on firms’ performance: Empirical evidence from India. Cogent Business & Management, 9(1), 2044593.
5. Baker, S. R., Farrokhnia, R. A., Meyer, S., Pagel, M., & Yannelis, C. (2020). How does household spending respond to an epidemic? Consumption during the 2020 COVID-19 pandemic. The Review of Asset Pricing Studies, 10(4), 834-862.
6. Bogsnes, B. (2016). Implementing beyond budgeting: Unlocking the performance potential. John Wiley & Sons.
7. Cieslak, K., & Kalling, T. (2007). Reasons behind contemporary use of budgets. Nordic Academy of Management,
8. Cugueró-Escofet, N., & Rosanas, J. M. (2017). The ethics of metrics: Overcoming the dysfunctional effects of performance measurements through justice. Journal of business ethics, 140, 615-631.
9. Darabee, T. (2022). The impact of COVID-19 on the financial performance of the listed firms in Palestine. Gazi İktisat ve İşletme Dergisi, 8(3), 398-407.
10. Fähndrich, J. (2023). A literature review on the impact of digitalisation on management control. Journal of Management Control, 34(1), 9-65.
11. Frow, N., Marginson, D., & Ogden, S. (2010). “Continuous” budgeting: Reconciling budget flexibility with budgetary control. Accounting, organizations and society, 35(4), 444-461.
12. Glaeser, S., & Omartian, J. D. (2022). Public firm presence, financial reporting, and the decline of US manufacturing. Journal of accounting research, 60(3), 1085-1130.
13. Goode, M., & Malik, A. (2011). Beyond budgeting: the way forward? Pakistan Journal of Social Sciences (PJSS), 31(2).
14. Gurton, A. (1999). Bye bye budget... the annual budget is dead. Accountancy International, 123(1267), 61.
15. Hansen, S. C., Otley, D. T., & Van der Stede, W. A. (2003). Practice developments in budgeting: an overview and research perspective. Journal of management accounting research, 15(1), 95-116.
16. Hartmann, F. G. (2000). The appropriateness of RAPM: toward the further development of theory. Accounting, organizations and society, 25(4-5), 451-482.
17. Hope, J., & Fraser, R. (2003a). Beyond budgeting: how managers can break free from the annual performance trap. Harvard Business Press.
18. Hope, J., & Fraser, R. (2003b). New ways of setting rewards: The beyond budgeting model. California Management Review, 45(4), 104-119.
19. Hope, J., & Fraser, R. (2003c). Who needs budgets?
20. Isaac, L., Lawal, M., & Okoli, T. (2015). A systematic review of budgeting and budgetary control in government owned organizations. Research Journal of Finance and Accounting, 6(6), 1-10.
21. Jensen, M. C. (2002). Corporate budgeting is broken, let's fix it.
22. Kren, L., & Liao, W. M. (1988). The role of accounting information in the control of organizations: A review of the evidence. Journal of accounting literature, 7(1), 280-309.
23. Libby, T., & Lindsay, R. M. (2003). Budgeting-an unnecessary evil A European idea to drop budgeting altogether is starting to find receptive ears in North America. In this two-part series, we consider what's wrong with the present model and how some are suggesting we fix it. CMA MANAGEMENT, 77(1), 30-33.
24. Libby, T., & Lindsay, R. M. (2010). Beyond budgeting or budgeting reconsidered? A survey of North-American budgeting practice. Management accounting research, 21(1), 56-75.
25. Melangen, M., & Sofo, N. (2019). Beyond Budgeting and Performance Management: A multiple case study of how performance is managed drawing on the Beyond Budgeting principles Universitetet i Agder; University of Agder].
26. Mio, C., Costantini, A., & Panfilo, S. (2022). Performance measurement tools for sustainable business: A systematic literature review on the sustainability balanced scorecard use. Corporate Social Responsibility and Environmental Management, 29(2), 367-384.
27. Moses, M., & Moses, M. (2022). Conventional Budgeting Solutions. The Municipal Financial Crisis: A Framework for Understanding and Fixing Government Budgeting, 53-62.
28. Moslehpour, M., Al-Fadly, A., Ehsanullah, S., Chong, K. W., Xuyen, N. T. M., & Tan, L. P. (2022). Assessing financial risk spillover and panic impact of Covid-19 on European and Vietnam stock market. Environmental Science and Pollution Research, 29(19), 28226-28240.
29. Murphy, K., McCarthy, M., Sargeant, E., & Williamson, H. (2022). COVID-19 conspiracies, trust in authorities, and duty to comply with social distancing restrictions. International Criminology, 2(1), 44-58.
30. Neely, A., Bourne, M., & Adams, C. (2003). Better budgeting or beyond budgeting? Measuring Business Excellence, 7(3), 22-28.
31. Nielsen, S. (2018). Reflections on the applicability of business analytics for management accounting–and future perspectives for the accountant. Journal of Accounting & Organizational Change, 14(2), 167-187.
32. No, W., & Hsueh, L. (2022). How a participatory process with inclusive structural design allocates resources toward poor neighborhoods: the case of participatory budgeting in Seoul, South Korea. International Review of Administrative Sciences, 88(3), 663-681.
33. O’Grady, W., Akroyd, C., & Scott, I. (2017). Beyond budgeting: distinguishing modes of adaptive performance management. In Advances in management accounting (Vol. 29, pp. 33-53). Emerald Publishing Limited.
34. Olaf, S. S., Agnieszka, M., & Thomas, H. (2019). Beyond Budgeting–A Fair Alternative for Management Control?-Examining the Relationships between Beyond Budgeting and Organizational Justice Perceptions. Studies in Business and Economics, 14(2), 160-180.
35. Otley, D. (1994). Management control in contemporary organizations: towards a wider framework. Management accounting research, 5(3-4), 289-299.
36. Otley, D. (2008). Did Kaplan and Johnson get it right? Accounting, Auditing & Accountability Journal, 21(2), 229-239.
37. Phan, D. H. B., & Narayan, P. K. (2020). Country responses and the reaction of the stock market to COVID-19—A preliminary exposition. Emerging Markets Finance and Trade, 56(10), 2138-2150.
38. Rosanas, J. M. (2016). Budgeting Beyond Budgeting: A Tool for Management, Surprise Avoidance, Trust Creation and Organizational Learning. European Accounting And Management Review, 3(1), 24-44.
39. Rosanas, J. M., & Velilla, M. (2005). The ethics of management control systems: Developing technical and moral values. Journal of business ethics, 57, 83-96.
40. Samudrage, D. N., & Beddage, H. S. (2018). Status and Challenges in implementing beyond budgeting: evidence from Sri Lanka.
41. Sandalgaard, N., & Nikolaj Bukh, P. (2014). Beyond budgeting and change: A case study. Journal of Accounting & Organizational Change, 10(3), 409-423.
42. Schneider, S. H., & Busse, S. (2019). Participatory budgeting in Germany–A review of empirical findings. International Journal of Public Administration, 42(3), 259-273.
43. Shash, A. A., & Qarra, A. A. (2018). Cash flow management of construction projects in Saudi Arabia. Project Management Journal, 49(5), 48-63.
44. Shields, M. D., & Young, S. M. (1993). Antecedents and Consequences of Participative Budgeting: Evidence on the Effects of Asymmetrical Information. Journal of management accounting research, 5.
45. Steed, E., & Gu, Z. (2009). Hotel management company forecasting and budgeting practices: a survey‐based analysis. International Journal of Contemporary Hospitality Management, 21(6), 676-697.
46. Telle, S., & Svensson, S. (2020). An organizational ecology approach to EGTC creation in East Central Europe. Regional & Federal Studies, 30(1), 47-71.
47. Wallander, J. (1999). Budgeting—an unnecessary evil. Scandinavian journal of Management, 15(4), 405-421.
48. Wallin, B.-G., Jan, x. F. r. E., & Ekholm, B. (2000). Is the annual budget really dead? European accounting review, 9(4), 519-539.
49. Wang, Y., Wang, X., Zhang, Z., Cui, Z., & Zhang, Y. (2023). Role of fiscal and monetary policies for economic recovery in China. Economic Analysis and Policy, 77, 51-63.
50. Zeller, T. L., & Metzger, L. M. (2013). Good bye traditional budgeting, hello rolling forecast: has the time come? American Journal of Business Education (AJBE), 6(3), 299-310.
51. Zhang, D., Hu, M., & Ji, Q. (2020). Financial markets under the global pandemic of COVID-19. Finance Research Letters, 36, 101528.
2. Albulescu, C. T. (2021). COVID-19 and the United States financial markets’ volatility. Finance Research Letters, 38, 101699.
3. Alrawazqee, A., & Tsatkhlanova, T. (2021). Improve performance or corruption motivation in beyond budget implementation, survey in public sector organizations. Research Journal of Finance and Accounting, 12(6).
4. Alsamhi, M. H., Al-Ofairi, F. A., Farhan, N. H., Al-Ahdal, W. M., & Siddiqui, A. (2022). Impact of Covid-19 on firms’ performance: Empirical evidence from India. Cogent Business & Management, 9(1), 2044593.
5. Baker, S. R., Farrokhnia, R. A., Meyer, S., Pagel, M., & Yannelis, C. (2020). How does household spending respond to an epidemic? Consumption during the 2020 COVID-19 pandemic. The Review of Asset Pricing Studies, 10(4), 834-862.
6. Bogsnes, B. (2016). Implementing beyond budgeting: Unlocking the performance potential. John Wiley & Sons.
7. Cieslak, K., & Kalling, T. (2007). Reasons behind contemporary use of budgets. Nordic Academy of Management,
8. Cugueró-Escofet, N., & Rosanas, J. M. (2017). The ethics of metrics: Overcoming the dysfunctional effects of performance measurements through justice. Journal of business ethics, 140, 615-631.
9. Darabee, T. (2022). The impact of COVID-19 on the financial performance of the listed firms in Palestine. Gazi İktisat ve İşletme Dergisi, 8(3), 398-407.
10. Fähndrich, J. (2023). A literature review on the impact of digitalisation on management control. Journal of Management Control, 34(1), 9-65.
11. Frow, N., Marginson, D., & Ogden, S. (2010). “Continuous” budgeting: Reconciling budget flexibility with budgetary control. Accounting, organizations and society, 35(4), 444-461.
12. Glaeser, S., & Omartian, J. D. (2022). Public firm presence, financial reporting, and the decline of US manufacturing. Journal of accounting research, 60(3), 1085-1130.
13. Goode, M., & Malik, A. (2011). Beyond budgeting: the way forward? Pakistan Journal of Social Sciences (PJSS), 31(2).
14. Gurton, A. (1999). Bye bye budget... the annual budget is dead. Accountancy International, 123(1267), 61.
15. Hansen, S. C., Otley, D. T., & Van der Stede, W. A. (2003). Practice developments in budgeting: an overview and research perspective. Journal of management accounting research, 15(1), 95-116.
16. Hartmann, F. G. (2000). The appropriateness of RAPM: toward the further development of theory. Accounting, organizations and society, 25(4-5), 451-482.
17. Hope, J., & Fraser, R. (2003a). Beyond budgeting: how managers can break free from the annual performance trap. Harvard Business Press.
18. Hope, J., & Fraser, R. (2003b). New ways of setting rewards: The beyond budgeting model. California Management Review, 45(4), 104-119.
19. Hope, J., & Fraser, R. (2003c). Who needs budgets?
20. Isaac, L., Lawal, M., & Okoli, T. (2015). A systematic review of budgeting and budgetary control in government owned organizations. Research Journal of Finance and Accounting, 6(6), 1-10.
21. Jensen, M. C. (2002). Corporate budgeting is broken, let's fix it.
22. Kren, L., & Liao, W. M. (1988). The role of accounting information in the control of organizations: A review of the evidence. Journal of accounting literature, 7(1), 280-309.
23. Libby, T., & Lindsay, R. M. (2003). Budgeting-an unnecessary evil A European idea to drop budgeting altogether is starting to find receptive ears in North America. In this two-part series, we consider what's wrong with the present model and how some are suggesting we fix it. CMA MANAGEMENT, 77(1), 30-33.
24. Libby, T., & Lindsay, R. M. (2010). Beyond budgeting or budgeting reconsidered? A survey of North-American budgeting practice. Management accounting research, 21(1), 56-75.
25. Melangen, M., & Sofo, N. (2019). Beyond Budgeting and Performance Management: A multiple case study of how performance is managed drawing on the Beyond Budgeting principles Universitetet i Agder; University of Agder].
26. Mio, C., Costantini, A., & Panfilo, S. (2022). Performance measurement tools for sustainable business: A systematic literature review on the sustainability balanced scorecard use. Corporate Social Responsibility and Environmental Management, 29(2), 367-384.
27. Moses, M., & Moses, M. (2022). Conventional Budgeting Solutions. The Municipal Financial Crisis: A Framework for Understanding and Fixing Government Budgeting, 53-62.
28. Moslehpour, M., Al-Fadly, A., Ehsanullah, S., Chong, K. W., Xuyen, N. T. M., & Tan, L. P. (2022). Assessing financial risk spillover and panic impact of Covid-19 on European and Vietnam stock market. Environmental Science and Pollution Research, 29(19), 28226-28240.
29. Murphy, K., McCarthy, M., Sargeant, E., & Williamson, H. (2022). COVID-19 conspiracies, trust in authorities, and duty to comply with social distancing restrictions. International Criminology, 2(1), 44-58.
30. Neely, A., Bourne, M., & Adams, C. (2003). Better budgeting or beyond budgeting? Measuring Business Excellence, 7(3), 22-28.
31. Nielsen, S. (2018). Reflections on the applicability of business analytics for management accounting–and future perspectives for the accountant. Journal of Accounting & Organizational Change, 14(2), 167-187.
32. No, W., & Hsueh, L. (2022). How a participatory process with inclusive structural design allocates resources toward poor neighborhoods: the case of participatory budgeting in Seoul, South Korea. International Review of Administrative Sciences, 88(3), 663-681.
33. O’Grady, W., Akroyd, C., & Scott, I. (2017). Beyond budgeting: distinguishing modes of adaptive performance management. In Advances in management accounting (Vol. 29, pp. 33-53). Emerald Publishing Limited.
34. Olaf, S. S., Agnieszka, M., & Thomas, H. (2019). Beyond Budgeting–A Fair Alternative for Management Control?-Examining the Relationships between Beyond Budgeting and Organizational Justice Perceptions. Studies in Business and Economics, 14(2), 160-180.
35. Otley, D. (1994). Management control in contemporary organizations: towards a wider framework. Management accounting research, 5(3-4), 289-299.
36. Otley, D. (2008). Did Kaplan and Johnson get it right? Accounting, Auditing & Accountability Journal, 21(2), 229-239.
37. Phan, D. H. B., & Narayan, P. K. (2020). Country responses and the reaction of the stock market to COVID-19—A preliminary exposition. Emerging Markets Finance and Trade, 56(10), 2138-2150.
38. Rosanas, J. M. (2016). Budgeting Beyond Budgeting: A Tool for Management, Surprise Avoidance, Trust Creation and Organizational Learning. European Accounting And Management Review, 3(1), 24-44.
39. Rosanas, J. M., & Velilla, M. (2005). The ethics of management control systems: Developing technical and moral values. Journal of business ethics, 57, 83-96.
40. Samudrage, D. N., & Beddage, H. S. (2018). Status and Challenges in implementing beyond budgeting: evidence from Sri Lanka.
41. Sandalgaard, N., & Nikolaj Bukh, P. (2014). Beyond budgeting and change: A case study. Journal of Accounting & Organizational Change, 10(3), 409-423.
42. Schneider, S. H., & Busse, S. (2019). Participatory budgeting in Germany–A review of empirical findings. International Journal of Public Administration, 42(3), 259-273.
43. Shash, A. A., & Qarra, A. A. (2018). Cash flow management of construction projects in Saudi Arabia. Project Management Journal, 49(5), 48-63.
44. Shields, M. D., & Young, S. M. (1993). Antecedents and Consequences of Participative Budgeting: Evidence on the Effects of Asymmetrical Information. Journal of management accounting research, 5.
45. Steed, E., & Gu, Z. (2009). Hotel management company forecasting and budgeting practices: a survey‐based analysis. International Journal of Contemporary Hospitality Management, 21(6), 676-697.
46. Telle, S., & Svensson, S. (2020). An organizational ecology approach to EGTC creation in East Central Europe. Regional & Federal Studies, 30(1), 47-71.
47. Wallander, J. (1999). Budgeting—an unnecessary evil. Scandinavian journal of Management, 15(4), 405-421.
48. Wallin, B.-G., Jan, x. F. r. E., & Ekholm, B. (2000). Is the annual budget really dead? European accounting review, 9(4), 519-539.
49. Wang, Y., Wang, X., Zhang, Z., Cui, Z., & Zhang, Y. (2023). Role of fiscal and monetary policies for economic recovery in China. Economic Analysis and Policy, 77, 51-63.
50. Zeller, T. L., & Metzger, L. M. (2013). Good bye traditional budgeting, hello rolling forecast: has the time come? American Journal of Business Education (AJBE), 6(3), 299-310.
51. Zhang, D., Hu, M., & Ji, Q. (2020). Financial markets under the global pandemic of COVID-19. Finance Research Letters, 36, 101528.
منشور
2023-08-07
كيفية الاقتباس
Sharif Mohammad Aqabna, & Adel Abusharar. (2023). Budgeting practice, Budgeting reconsidered during covid-19: (A survey on listed companies on the Palestine Exchange). Journal of Arts, Literature, Humanities and Social Sciences, (94), 326-346. https://doi.org/10.33193/JALHSS.94.2023.882
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