This research investigates the relationship between the budgetary participation and the managerial performance in a developing country context (Jordan). Managerial performance is measured using the modified nine items of (Mahoney et al., 1965). It uses the questionnaire method as the main method of research and also employs archival documents, observations, and reports in order to accomplish the study objective. Questionnaires were distributed to 131 university executives, of whom 77, in five private universities, replied. The findings suggest that the performance indicators of the respondents who participate in the budget are significantly better than the performance indicators of the respondents who do not participate in the budget. This study tests these differences using the Mann-Whitney test. Further analysis is carried out and the findings support previous results.The results of this current study have a value for decision makers of the higher education institution in addition to the university executives in a matter of increasing the awareness for the importance of budgetary participation.