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Mar 2013

Corporate social responsibility and innovation in management accounting

According to a 2009 survey conducted on Fortune 500 firms, corporate social responsibility (CSR) is becoming an increasingly prominent and accepted part of the corporate strategy agenda. However, there is very little understanding of how different control mechanisms are adopted to put strategic agendas related to CSR into practice.

This research examines the way in which companies embed CSR into their management control systems (MCS) in an attempt to align the behaviour of organisational participants with strategic objectives concerning sustainability in China.

The diagnostic use of budget and performance management systems provides periodic monitoring of firms’ social performance, mitigates risks and detects any deviation from pre-set CSR targets.

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Corporate social responsibility and innovation in management accounting