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Professionalization of management accounting in family firms: the impact of family members

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  • Martin R. W. Hiebl

    (University of Siegen)

  • Barbara Mayrleitner

    (Greiner Bio-One)

Abstract

Literature on the professionalization of management accounting in family firms has extensively focused on non-family experts, such as controllers or CFOs, as drivers of this process, a somewhat one-sided view. The present study therefore aims to explore how family managers may contribute to the professionalization of management accounting in family firms. For this purpose, we develop a framework that identifies the controlling family’s ability and willingness to professionalize as necessary conditions for professionalization. We apply this framework to a single case study of a family firm situated in the German-speaking area of Europe, followed from the business’ foundation in the 1980s until 2014. Our findings show that under certain conditions, members of the controlling family may indeed primarily promote the professionalization of management accounting. Consequently, further research should not only relate the level of family influence at a firm to measures of management accounting professionalization but also consider the controlling family’s ability and willingness to professionalize management accounting.

Suggested Citation

  • Martin R. W. Hiebl & Barbara Mayrleitner, 2019. "Professionalization of management accounting in family firms: the impact of family members," Review of Managerial Science, Springer, vol. 13(5), pages 1037-1068, November.
    • Handle: RePEc:spr:rvmgts:v:13:y:2019:i:5:d:10.1007_s11846-017-0274-8
    DOI: 10.1007/s11846-017-0274-8
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    Cited by:

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    2. Martin Quinn & Peter Cleary & Catherine Batt & Pall Rikhardsson, 2021. "Accounting and Information Systems in Irish Family SME: Professionalisation Effects," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 20(3), pages 454-476, September.
    3. Alexandra Bertschi-Michel & Philipp Sieger & Thomas Wittig & Andreas Hack, 2023. "Sacrifice, Protect, and Hope for the Best: Family Ownership, Turnaround Moves, and Crisis Survival," Entrepreneurship Theory and Practice, , vol. 47(4), pages 1132-1168, July.
    4. Mattias Sandgren & Timur Uman & Mattias Nordqvist, 2023. "Accountants in family firms—a systematic literature review," Small Business Economics, Springer, vol. 61(1), pages 349-388, June.
    5. Ricarda B. Bouncken & Yixin Qiu & Noemi Sinkovics & Wolfgang Kürsten, 2021. "Qualitative research: extending the range with flexible pattern matching," Review of Managerial Science, Springer, vol. 15(2), pages 251-273, February.
    6. Anneleen Michiels & Diane Arijs & Lorraine Uhlaner, 2022. "Formal HRM in family SMEs: the role of family-centered goals and family governance," Review of Managerial Science, Springer, vol. 16(8), pages 2553-2576, November.
    7. Daniel Magalhães Mucci & Ann Jorissen & Fabio Frezatti & Diógenes de Souza Bido, 2021. "Managerial Controls in Private Family Firms: The Influence of a Family’s Decision Premises," Sustainability, MDPI, vol. 13(4), pages 1-21, February.

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    More about this item

    Keywords

    Management accounting; Family firms; Professionalization;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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