Influence of management control on financial performance: toward an expanded theoretical model

Abstract

This article analyzes the influence of management control of the financial performance of companies by proposing a new expanded theoretical model of performance. The conceptual and theoretical approach, based on a critical and in-depth literature review, followed by the construction of an expanded performance model, is the essentially adopted approach by this study to achieve its goals. Certainly, in the face of the limitations of classical models, notably the performance triangle developed by GIBERT, P. (1980) and also taken up in the works of BOUQUIN, H. (1994), LORINO, P. (1995), KOENIG, G. (1996), etc., focusing on strictly financial and accounting approaches, this study advocates for an integrated and multidimensional view of performance. It highlights the strategic role of management control, not only as a tool for monitoring results but also as a lever for anticipation, adjustment, and alignment between strategy and operations.

By mobilizing stakeholder and value theories, the article emphasizes the need to include non-financial dimensions such as sustainability, social responsibility, and shared value creation. A new conceptual framework is thus proposed, moving from the triangle to the performance diamond, integrating relevance, effectiveness, efficiency, effectivity, and value creation. This expanded model aims to better meet the contemporary requirements of governance, transparency, and sustainable overall performance. Finally, methodological perspectives for the empirical validation of the model are discussed, inviting a renewed reflection on financial performance in modern organizations.

JEL Classification : M40, L25, M14

Paper type : Theoretical Research