ISSN: 2225-8329
Open access
Purpose: This manuscript develops and tests a strategic finance transformation model explaining how finance business partnering, industry-finance integration, and IFRS-based performance evaluation jointly contribute to corporate value creation. The study positions the finance function not only as a reporting and compliance unit but also as a decision partner that links operational drivers, capital allocation, risk discipline, and investor-oriented performance narratives. Method: A cross-sectional quantitative design is specified and reported using a synthetic but internally consistent dataset of 326 finance and business managers from medium and large organizations with IFRS reporting exposure. The manuscript follows a structural equation modelling format aligned with the attached sample manuscript: construct measurement, reliability and validity assessment, discriminant validity, R-square statistics, effect sizes, mediation, moderation, and path analysis. Ten semi-structured interview questions are also provided to support future mixed-method validation. Findings: The illustrative analysis shows that finance business partnering significantly influences corporate value creation and industry-finance integration. Industry-finance integration significantly predicts corporate value creation and partially mediates the relationship between business partnering and value creation. IFRS-based performance evaluation has a positive direct effect on value creation and strengthens the relationship between industry-finance integration and value creation. The model explains 33.24% of the variance in industry-finance integration and 70.43% of the variance in corporate value creation. Originality/Implications: The study integrates three streams that are often treated separately: the evolving business-partner identity of finance, the digital and process integration of finance with operating units, and IFRS-based performance evaluation. The results imply that finance transformation creates value when finance professionals are embedded in decisions, when operational and financial data are integrated, and when performance evaluation is transparent, comparable, and tied to IFRS-based accountability.
Alruwaili, W. S., Ahmed, A. D., & Joshi, M. (2023). IFRS innovation, governance practices and firm performance: A new empirical assessment of moderating effects across GCC region. Equilibrium: Quarterly Journal of Economics and Economic Policy, 18(3), 615-659. https://doi.org/10.24136/eq.2023.020
Andreassen, R.-I. (2020). Digital technology and changing roles: A management accountant’s dream or nightmare? Journal of Management Control, 31, 209-238. https://doi.org/10.1007/s00187-020-00303-2
Appelbaum, D., Kogan, A., Vasarhelyi, M. A., & Yan, Z. (2017). Impact of business analytics and enterprise systems on managerial accounting. International Journal of Accounting Information Systems, 25, 29-44. https://doi.org/10.1016/j.accinf.2017.03.003
Baird, K. (2017). The effectiveness of strategic performance measurement systems. International Journal of Productivity and Performance Management, 66(1), 3-21. https://doi.org/10.1108/IJPPM-06-2014-0086
Bourveau, T., Chen, J. V., Elfers, F., & Pierk, J. (2023). Public peers, accounting comparability, and value relevance of private firms’ financial reporting. Review of Accounting Studies, 28, 2642-2676. https://doi.org/10.1007/s11142-022-09707-y
De George, E. T., Li, X., & Shivakumar, L. (2016). A review of the IFRS adoption literature. Review of Accounting Studies, 21, 898-1004. https://doi.org/10.1007/s11142-016-9363-1
Dyduch, W., Chudzi?ski, P., Cyfert, S., & Zastempowski, M. (2021). Dynamic capabilities, value creation and value capture: Evidence from SMEs under COVID-19 lockdown in Poland. PLOS ONE, 16(6), Article e0252423. https://doi.org/10.1371/journal.pone.0252423
Ebaid, I. E.-S. (2022). IFRS adoption and accounting-based performance measures: Evidence from an emerging capital market. Journal of Money and Business, 2(1), 94-106. https://doi.org/10.1108/JMB-11-2021-0057
Ellström, D., Holtström, J., Berg, E., & Josefsson, C. (2022). Dynamic capabilities for digital transformation. Journal of Strategy and Management, 15(2), 272-286. https://doi.org/10.1108/JSMA-04-2021-0089
Fähndrich, J. (2023). A literature review on the impact of digitalisation on management control. Journal of Management Control, 34, 9-65. https://doi.org/10.1007/s00187-022-00349-4
Franco-Santos, M., & Otley, D. (2018). Reviewing and theorizing the unintended consequences of performance management systems. International Journal of Management Reviews, 20(3), 696-730. https://doi.org/10.1111/ijmr.12183
Goretzki, L., & Messner, M. (2019). Backstage and frontstage interactions in management accountants’ identity work. Accounting, Organizations and Society, 74, 1-20. https://doi.org/10.1016/j.aos.2018.09.001
Gould, S. (2021, November 29). CFOs and finance functions: From business partnering to value partnering. International Federation of Accountants. https://www.ifac.org/knowledge-gateway/discussion/cfos-and-finance-functions-business-partnering-value-partnering
Hadid, W., & Al-Sayed, M. (2021). Management accountants and strategic management accounting: The role of organizational culture and information systems. Management Accounting Research, 50, Article 100725. https://doi.org/10.1016/j.mar.2020.100725
Hair, J. F., Jr., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2022). A primer on partial least squares structural equation modeling (3rd ed.). Sage.
Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2-24. https://doi.org/10.1108/EBR-11-2018-0203
IFRS Foundation. (2021). International Integrated Reporting Framework.
IFRS Foundation. (2023a). IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information.
IFRS Foundation. (2023b). IFRS S2 Climate-related Disclosures.
IFRS Foundation. (2024a). IFRS 18 Presentation and Disclosure in Financial Statements.
IFRS Foundation. (2024b). Effects analysis: IFRS 18 Presentation and Disclosure in Financial Statements.
Johnsen, Å., Solholm, K., & Tufte, P. A. (2024). Performance measurement system design as link between strategy formulation and performance information use in public sector organizations. Public Performance & Management Review, 47(4), 813-848. https://doi.org/10.1080/15309576.2024.2360158
Jones, J., & Scapens, B. (2020). Finance business partnering: Design principles to orchestrate value. CIMA Research Executive Summary, 16(4). Chartered Institute of Management Accountants.
Kurznack, L., Schoenmaker, D., & Schramade, W. (2021). A model of long-term value creation. Journal of Sustainable Finance & Investment, 11, 1-19. https://doi.org/10.1080/20430795.2021.1920231
La Paz, A., Gracia, D., & Vásquez, J. (2020). Matching the controller role: Individuals vs companies. Journal of Business Economics and Management, 21(5), 1411-1431. https://doi.org/10.3846/jbem.2020.13187
Liu, Z., & Wang, P. (2024). The impact of industry-finance integration on the performance of intelligent manufacturing firm: Based on the mediating effect of accounting information quality. In H. Cheng, S. A. Qalati, N. S. B. Sapiei, & M. B. Abdullah (Eds.), Proceedings of the 2024 4th International Conference on Enterprise Management and Economic Development (ICEMED 2024) (Advances in Economics, Business and Management Research, Vol. 295, pp. 27-38). Atlantis Press. https://doi.org/10.2991/978-94-6463-506-5_4
Mensah, E. (2021). The effect of IFRS adoption on financial reporting quality: Evidence from listed manufacturing firms in Ghana. Economic Research-Ekonomska Istraživanja, 34(1), 2890-2905. https://doi.org/10.1080/1331677X.2020.1860109
Möller, K., Schäffer, U., & Verbeeten, F. (2020). Digitalization in management accounting and control: An editorial. Journal of Management Control, 31, 1-8. https://doi.org/10.1007/s00187-020-00300-5
Oesterreich, T. D., & Teuteberg, F. (2019). The role of business analytics in the controllers and management accountants’ competence profiles: An exploratory study on individual-level data. Journal of Accounting & Organizational Change, 15(2), 330-356. https://doi.org/10.1108/JAOC-10-2018-0097
Podsakoff, P. M., Podsakoff, N. P., Williams, L. J., Huang, C., & Yang, J. (2024). Common method bias: It’s bad, it’s complex, it’s widespread, and it’s not easy to fix. Annual Review of Organizational Psychology and Organizational Behavior, 11, 17-61. https://doi.org/10.1146/annurev-orgpsych-110721-040030
Quang Hung, B., Thanh Hoai, T., Anh Hoa, T., & Phong Nguyen, N. (2023). Performance implication of management accounting systems in market-oriented firms: Empirical evidence from Vietnam. Cogent Business & Management, 10(3), Article 2251630. https://doi.org/10.1080/23311975.2023.2251630
Rasoolimanesh, S. M. (2022). Discriminant validity assessment in PLS-SEM: A comprehensive composite-based approach. Data Analysis Perspectives Journal, 3(2), 1-8.
Wanderley, C. D. A., & Horton, K. E. (2026). Digitalization tensions in the management accounting profession: Boundary work responses and their consequences. The British Accounting Review, 58(2), Article 101455. https://doi.org/10.1016/j.bar.2024.101455
Zhang, Y. F., Namazi, M., Guo, Y. Q., & Li, X. (2020). Finance business partnering and manufacturing firms’ performance: A mediating role of non-financial performance. Journal of Business Economics and Management, 21(2), 473-496. https://doi.org/10.3846/jbem.2020.12002
Jiang, R. (2026). Strategic Finance Transformation and Corporate Value Creation: The Interplay of Finance Business Partnering, Industry-Finance Integration, and IFRS-Based Performance Evaluation. International Journal of Academic Research in Accounting, Finance and Management Sciences, 16(3), 116–143.
Copyright: © 2026 The Author(s)
Published by HRMARS (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode