Abstract
Family business succession is considered inherent to family businesses and represents a critical process that is generally characterised by resistance to change. This study aims to investigate the role of management accounting systems (MASs) in family business succession, in order to understand how changes in MASs during the succession across different family generations can help the succession process itself, facilitating the rise of the new leader, supporting changes, and reducing resistance to them. The research adopts a case study approach, focusing on organizational routines and their changes, at the same time taking into account the socioemotional wealth of the family firm. Evidence from the study shows the strategic role of MAS in managing the succession process, through the implementation of new routines and rules in helping the decision-making process and in achieving the firm’s leadership. Key words: Family business succession, management accounting changes, routines, socioemotional wealth.
Highlights
Businesses have played a significant role in supporting the development of western civilizations and economies (Astrachan and Shanker, 2003; Klein, 2000; Shanker and Astrachan, 1996), driving economic development in the early stages of industrialization in many countries (Bird et al, 2002; Hall, 1988).Various research projects have been conducted over the last three decades to analyse the operations of family firms
Business succession is considered inherent to family businesses and represents a critical process that is generally characterised by resistance to change
This study aims to investigate the role of management accounting systems (MASs) in family business succession, in order to understand how changes in MASs during the succession across different family generations can help the succession process itself, facilitating the rise of the new leader, supporting changes, and reducing resistance to them
Summary
Businesses have played a significant role in supporting the development of western civilizations and economies (Astrachan and Shanker, 2003; Klein, 2000; Shanker and Astrachan, 1996), driving economic development in the early stages of industrialization in many countries (Bird et al, 2002; Hall, 1988).Various research projects have been conducted over the last three decades to analyse the operations of family firms. Business literature has largely investigated corporate governance and ownership; a good deal of qualitative and quantitative research in this field has focused on succession (Brockhaus, 2004; Chrisman et al, 2005), pointing out that several factors could play a relevant role in making the transfer to one generation to another successful (De Massis et al, 2008). Scholars have paid comparatively less attention to the process of goal formulation or corporate social responsibility issues; other streams of research, despite their relevance to the succession process, have been fairly neglected. It is noteworthy that accounting is one of the most under-investigated streams of research in family business studies (Songini et al, 2013), notwithstanding being one of the oldest business disciplines.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
