The chief financial officer of the future: An exploratory sequential mixed methods study of the role of chief financial officer

Name: Manoj Chatpibal

LCSH: Associations, institutions, etc. -- Management

LCSH: Business enterprises

Abstract: In the contemporary business landscape, Chief Financial Officers (CFOs) are central figures, entrusted with the critical task of managing an organization’s financial matters and formulating strategies for its future. This role becomes markedly more challenging during economic crises, whether they originate locally, regionally, or globally, all of which have the potential to jeopardize an organization’s stability. To thoroughly explore the evolving role of CFOs, an exploratory sequential mixed methods approach was employed, seamlessly integrating both qualitative and quantitative research methodologies. The qualitative phase, initiated as the first step, entailed semi-structured interviews. These interviews continued until data saturation was reached, ensuring a comprehensive understanding of the multifaceted roles and challenges faced by CFOs. Twenty-one CFOs from diverse business backgrounds participated in the study. For data analysis, the Atlas.ti application was utilized in tandem with the Gioia theoretical framework development technique, resulting in the emergence of the iCFO model. Following the qualitative phase, the study advanced to its quantitative component, guided by the well-established “10-times rule” method in PLS-SEM. This method stipulates that the sample size should surpass ten times the maximum links to any latent variable. Given the iCFO model’s seven variables, a minimum of 70 samples was necessary. Consequently, we conducted a survey with 104 diverse Chief Financial Officers (CFOs) to ensure the reliability of results and statistical significance. This quantitative phase aimed to uncover patterns, relationships, and interactions among the diverse CFO role dimensions identified during the qualitative inquiry The culmination of our research is the introduction of the iCFO model, an innovative theoretical framework. This model postulates that “Core” roles are the driving force behind “Future Opportunities” roles, underscoring the strategic significance of core functions in shaping an organization’s trajectory and prospects. Moreover, our study unveiled the mediating role of “Core” functions, emphasizing their contribution to the cultivation of integrity, ethical business practices, and the subsequent generation of future business opportunities. The research essentially underscores the pivotal role of corporate governance, ethical business practices, and the personal integrity of CFOs. The iCFO model offers practical guidance not only to CFOs but also to organizations. It serves as a navigational roadmap through the dynamic and ever-evolving business landscape, providing actionable insights that contribute to the long¬term sustainability and success of businesses in the increasingly complex global environment. In summary, our research transcends theoretical exploration, offering practical insights for CFOs, organizations, educational institutions, and the broader finance and accounting community. By recognizing the interrelationship between integrity, core functions, and future opportunities, this research enhances the potential for effective financial leadership and long-term success. It equips organizations to navigate the intricate global business landscape more effectively. Furthermore, our study not only illuminates the comprehensive role of CFOs but also emphasizes the CFO’s self-reflection regarding their value to their organization. The iCFO model possesses the potential for global applicability, providing CFOs with a framework to effectively navigate the intricate and perpetually changing business environment, ultimately contributing to enduring and sustainable results

King Mongkut's Institute of Technology Ladkrabang. Central Library

Address: BANGKOK

Email: Lifelong@kmitl.ac.th

Name: Singha Chaveesuk

Role: Thesis Advisor

Email : singha.ch@kmitl.ac.th

Name: Wornchanok Chaiyasoonthorn

Role: Thesis Co-Advisor

Email : wornchanok.ch@kmitl.ac.th

Created: 2023

Modified: 2024-11-16

Issued: 2024-11-16

วิทยานิพนธ์/Thesis

application/pdf

eng

DegreeName: Doctor of philosophy

Level: Doctoral Degree

Descipline: Industrial Business Administration (International Program)

Grantor: King Mongkut's Institute of Technology Ladkrabang

©copyrights King Mongkut's Institute of Technology Ladkrabang

ลำดับที่.	ชื่อแฟ้มข้อมูล	ขนาดแฟ้มข้อมูล	จำนวนเข้าถึง	วัน-เวลาเข้าถึงล่าสุด
1	Manoj Chatpibal.pdf	3.31 MB

ใช้เวลา

0.042763 วินาที