Journal Article


Risk driven innovation in the not so boring accountancy profession

Abstract

The accountancy profession is in a period of dynamic innovation driven change as new information technologies reconfigure the way business is conducted and the services that accountancy firms offer to their clients. As with all innovation, there is also the potential for disruptive change with risky outcomes. However, not all businesses are willing to take on these risks. In this paper, we explore two research questions: Who is willing to take risks with their business? Also, are risk-loving accountants more likely to be innovative? Using new survey data from United Kingdom (UK) accountancy practices, we find that accountants that have an appetite for risk are significantly more likely to be innovative in both their internal processes and practices as well as externally through the development of new products, services, and markets. Further, we find that the perception of increased market competition/turbulence negatively affects product and service innovations, but not process, managerial, and marketing innovations of accountancy firms.



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Authors

Cowling, Marc
Ambilichu, Charles A.
Yekini, Liafisu Sina
Omoteso, Kamil

Oxford Brookes departments

Oxford Brookes Business School

Dates

Year of publication: 2024
Date of RADAR deposit: 2025-01-14


Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License


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