Multi-Industry Group SEM Analysis for the Roles of Managerial Accountants in a New and Sustainable Episode
Kanitsorn Terdpaopong1* Nimnual Visedsun2 Phatnatcha Chotkunakitti3

1,2,3Faculty of Accountancy, Rangsit University, Pathumthani 12000 Thailand
1Email: kanitsorn[at]rsu.ac.th- 2Email: Nimnuan[at]rsu.ac.th-
3Email: phatnatcha.c[at]rsu.ac.th
*Responding author

Abstract

In order to sustain accountants in a constantly changing economy and business context, changing the role of the accountant is a prerequisite. This study aims to investigate the roles and responsibilities of management accountants in Thailand in a new and sustainable episode that has been disrupted by internal and external factors. Specifically, the study aims to identify the key factors that drive the changing roles of managerial accountants to be more innovative and business-strategy-oriented. Secondary data was employed in this study via the posted questionnaire to accountants who work in three industry sectors, namely manufacturing, retail and wholesale, and services. Multi-group structural equation modelling (multi-group SEM) was administered from the data. A sample set of 182 was gathered and used in the study^s analysis. 45% of the sample were accountants who worked in manufacturing, 22% in retail and wholesale, and 33% in service companies. The study proposed a structural equation modelling approach to determine key factors-digital technology force, leadership, digital technology readiness, digital technology competency, and attitude-that influence the changing roles of managerial accountants. The study finds that the factors that influenced the changing roles of managerial accountants differ from sector to sector. The digital technology force was found to have a weak influence on the changing roles of accountants but moderately strong in retails and wholesales and services. While the attitude of the accountants themselves was found to be very strong to influence the changing roles, it was moderately strong for retail and wholesale and rather weak for the services sector. Other factors-leadership, digital technology readiness, and digital technology competency-were found to have a mediating effect. The study offers practical insights into sensing the factors that influence the changing roles of managerial accountants. There are some limitations that might be overcome in future research. New variables, such as new disruptions rather than digital technology, shall be investigated. Even with the same variables and the current proposed structural equation modelling, they need to be reinvestigated over time. The factors that were found to be strongly influenced in the current paper might, as time passes, not be as strong, and other factors that were found to be weakly influenced might change over time. This study contributes to the body of knowledge by offering novel insights into the changing professional role of management accountants in Thailand. In this study, structural equation modelling was employed to investigate how managerial accountants^ roles have changed in response to disruptive expansions. The multi-group SEM modelling assures us that different supports should be delivered to accommodate the needs of the sectors.

Keywords: changing roles, managerial accountants, digital disruption, attitude, digital technology, sustainable

Topic: Green Management and Business