Accounting practices in family firms, although displaying evident unique features, have received relatively little attention as distinct from their equivalents in publicly held firms. This may have hampered conceptual advancements in both accounting and family business literatures. In this article we first assess accounting areas in which the “family entity” plays a distinct role, and elaborate on important characteristics of these phenomena. We also report evidence suggesting that additional research efforts may illuminate both unresolved issues in the accounting literature, and so far neglected dimensions of the family business entity. Finally, we examine several different avenues for research at the accounting/family-business interface, and identify common themes among them.
Research on accounting in family firms: Past accomplishments and future challenges
SALVATO, CARLO;
2010
Abstract
Accounting practices in family firms, although displaying evident unique features, have received relatively little attention as distinct from their equivalents in publicly held firms. This may have hampered conceptual advancements in both accounting and family business literatures. In this article we first assess accounting areas in which the “family entity” plays a distinct role, and elaborate on important characteristics of these phenomena. We also report evidence suggesting that additional research efforts may illuminate both unresolved issues in the accounting literature, and so far neglected dimensions of the family business entity. Finally, we examine several different avenues for research at the accounting/family-business interface, and identify common themes among them.
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