A contribution to our understanding of the psychological effects underlying the budgeting process and its outcomes Ghent University
Budgeting plays an important role in organizations as it is the cornerstone of the majority of management control systems. It refers to both the budget as a set of numbers and the budgeting process, which refers to an interactive process in which future activities and deliverables are translated into quantitative, financial terms. Given its central role in organizations, much research effort has been devoted to budgeting in general and its ...