Representing a Dynamic and Systematic Model of Drivers and Consequences from the Implementation of Actuarial Accounting in Institutional Sector Industries
Keywords:
Actuarial accounting, dynamic and systematic model, industries related to the institutional sectorAbstract
Objective: This study aims to develop and explain a dynamic and systematic model of drivers and outcomes resulting from the implementation of actuarial accounting in industries related to the institutional sector.
Methodology: The research employed an exploratory mixed-method developmental design conducted in qualitative and quantitative phases. In the qualitative phase, grounded theory based on Glaser’s approach was applied through 15 semi-structured expert interviews in public accounting and financial management. Data were analyzed using open, axial, and selective coding procedures to extract conceptual themes and core components. Construct validity and reliability were assessed through Content Validity Ratio and Delphi analysis. In the quantitative phase, pairwise comparison matrices and systemic linkage analysis were used to determine causal relationships among axial components and to construct a systematic representation model of actuarial accounting implementation outcomes.
Findings: Qualitative analysis identified 288 open codes, 32 conceptual themes, six core components, and three structural categories. Matrix-based systemic analysis indicated that technological infrastructure development constitutes the primary systemic driver of actuarial accounting implementation. Enhancement of accountants’ technical and analytical competencies and institutional functional development emerged as secondary drivers. Conversely, improved financial forecasting capability and enhanced risk assessment were identified as the principal systemic outcomes, demonstrating the transformative role of actuarial accounting in strengthening organizational financial planning and risk governance processes.
Conclusion: The findings suggest that actuarial accounting implementation operates as an integrated systemic mechanism in which technological capacity building, professional competency development, and institutional alignment jointly produce improved financial predictability and advanced risk evaluation. Consequently, actuarial accounting can serve as a strategic foundation for intelligent financial governance and sustainable decision-making within institutional sector industries.
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Copyright (c) 2025 Naeemeh Daroodi, Ali Mahmoodi, Allahkaram Salehi (Author)
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