Strategic Management Accounting Practices and Socio-Cultural Value Creationin Listed Deposit Money Banks in Nigeria

One of the primary objectives of establishing businesses is value creation, adding value to the stakeholders especially the environment where it operates. The reactions of society during the cashless policy saga reflected the possibility that most Nigerian banks are lagging behind in their corporate social responsibilities. This paper investigated the impact of strategic management accounting practices on the socio-cultural value of listed deposit money banks in Nigeria. Employing a survey research design, the study sampled 310 management staff from a population of 1115 across 13 listed deposit money banks using a simple random sampling technique. The results of the pooled OLS analysis indicated a significant influence of strategic management accounting practices on socio-cultural value creation within these banks. It is recommended that bank management integrate strategic management accounting practices into their operations to enhance value creation.