Institutionalisation of Management Accounting in Family Businesses - Empirical Evidence from Austria and Germany
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12th European Academy of Management (EURAM) Annual Conference
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Management accounting plays an important role in family businesses in two main areas, namely coordinating the goals and interests of the family and the business and facilitating business succession. However, research on the organisation of management accounting systems in family businesses is scarce. Therefore, in this study we analyse the institutionalisation of management accounting based on survey responses from 897 Austrian and German corporations. Our results show that, compared with nonfamily businesses, family businesses less often establish management accounting departments and that the heads of management accounting in family businesses less often hold a university degree. Furthermore, firm size acts as the strongest predictor of the establishment of a separate management accounting department in family businesses. In addition, the existence of non-family management team members and a lower level of family influence also foster the institutionalisation of management accounting.