ABSTRACT
This chapter seeks to contribute to the body of knowledge on management control practices (MCS) research drawing empirical evidence from the Sri Lankan banking arena. The open economic regime operating in Sri Lanka since 1977 enabled the private sector to play a more dynamic role in the economy as a whole, and in the sphere of commercial banking in particular. 'Status Quo of Management Control Research in the Banking Sector' provides a glimpse of the status quo of management control research in the banking sector by highlighting the insights from prior research and identifying gaps in extant literature. Then, 'Methodology' presents the methodology, while a comparative analysis capitalizing on field study evidence is offered in 'Towards a Comparative Analysis'. Finally, 'Research Implications and Conclusions' depicts the research implications, conclusions and contributions along with lessons and insights for practicing managers and corporate strategists of banks and other organizations. The chapter confirms some known behavioural consequences of implementing new tools.
