Abstract
The underpinning objective of this current study to test the role of succession planning (structural, cognitive, and relational ties) and management accounting practices towards the performance (financial and non-financial) of family-owned SMEs with moderating role of networking orientation. We surveyed 306 owners/managers of family-owned SMEs from the sports good industry (manufacturing units). The findings show that the impact of succession planning, structural, cognitive and relational ties towards performance is positive and significant. Furthermore, management accounting practices significantly and positively influence the performance of family-owned SMEs. Moreover, networking orientation positively significantly moderates the relationship between succession planning, management accounting and performance of family-owned SMEs. The empirical findings of the current study facilitate the family-owned SMEs and policymakers in understanding the significance of succession planning and management accounting towards the performance and also enable them to understand the role of networking orientation
Highlights
Since the emergence of globalization, the domestic as well as international markets are getting competitive
The underpinning objective of the current study is to test the impact of succession planning and management accounting on the performance of family-owned SMEs
The current study considered the succession planning based on the social capital theory while considering the family structure and culture
Summary
Since the emergence of globalization, the domestic as well as international markets are getting competitive. Due to a lack of proper education and access to the latest tools and techniques family-owned SMEs were operating on traditional patterns These SMEs still use traditional accounting practices that do not facilitate them in proper planning, understanding the market's needs and demands and results in low performance and threat to survival (Carrera, 2017). The family-owned SMEs were unable to compete in international as well as in domestic markets if they are unable to understand or predict the needs and demands of the future (Baporikar, 2019) This current study proposed to test the impact of management accounting practices on the performance of family-owned SMEs businesses to compete in international and domestic markets.
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