Conjectures regarding empirical managerial accounting research

The empirical managerial accounting literature has failed to produce a substantive cumulative body of knowledge. This literature has not matured beyond describing practice to developing and testing theories explaining observed practice, like other areas of accounting research. While the lack of publicly available data is a popular reason for this literatureʹs underdeveloped state, it is not the only one. Other conjectures include: its inductive approach, researchersʹ incentives, its use of noneconomics-based frameworks, the lack of empirically testable theories, and its emphasis on decision making, not control.