What Are the Top Variables Leading to Strategic Investment Decision Making Performance

We study the gap between theory and practise on the strategic investment decision (SID) due to its immense impact on finance and strategy by deriving a theoretical framework on successful SIDs from current SID making literature. The theoretical framework summarises the top variables leading to SID making performance. To determine if theory is justified by practise, we assess the usage and influence of financial and strategic management accounting techniques versus control pertaining to the influence of accounting practises on SIDs in the Singaporean context. We examine the actual practises of manufacturing companies in the unique Singaporean context and find out what is the highest influence on their strategic practises: accounting versus strategy through a detailed case study approach obtained from 10 Singaporean companies. From the empirical results, we derive a conceptual framework that denotes the top variables leading to SID performance.