The Relationship Between Strategic Management Accounting and the Performance of Small and Medium-Sized Tourism Enterprises in Vietnam

Abstract

The aim of this paper is to illuminate how the SMEs in the tourist industry in Vietnam can enhance their performance in operations through the application of strategic management accounting. Between January 2025 and June 2025, the research information was collected by using an online survey in which a pre-developed questionnaire was used. The 135 valid observations collected were mainly on directors and accounting managers of small and medium-sized firms (SMEs) in the Vietnamese tourist industry. The study uses a quantitative method using a linear structural model (PLS-SEM) to test the hypotheses of the research with the assistance of SPSS 27 and AMOS 20. A P-value less than 5% means that the research findings allow the acceptance of hypotheses H2 and H3, but reject hypotheses H1 and H4 because P-values exceed 5%. This, statistically speaking, implies that at the 1% relevancy level, small and medium-sized businesses in the tourist industry enjoy the operation efficiency-enhancement power of accounting information systems and digital-based strategies in strategic management. On the other hand, there was no statistical evidence in the research to support the argument that strategic management, interactive budgeting, or alterations of the business environment enhance the performance of businesses. The management implications of the study are based on its foundational findings and can be summarized as follows: (i) strengthening the power of the accounting information systems in supporting the strategic management and accounting HR training; and (ii) promoting the digital transformation of the strategic management accounting in an attempt to enhance the efficiency of the firm. Theoretically and practically, this study can be useful to countries across the globe that have similar tourist industries to Vietnam's.