A Theoretical Analysis on the Differences in the Role of the CFO in Family and Non-Family Businesses

Beschreibung

Practice-oriented publications have recently suggested a movement of the Chief Financial Officer's (CFO) role towards a more strategic role. In family businesses, the CFO position is often the first into which a non-family manager is hired. A non-family CFO is also able to safeguard the development of a family business in financial distress. However, the role of the non-family CFO in family businesses has been under-researched. Hence, this paper assesses previous research findings and investigates the role of the non-family CFO in family businesses compared with that in non-family businesses. Social role theory in connection with agency theory, stewardship theory and the resource-based view of the firm theory build the paper’s theoretical basis. The nine propositions in this paper suggest not only a more traditional role for non-family CFOs but also fewer monitoring efforts in family businesses compared with non-family businesses. The paper concludes with avenues for further research and potential future research questions.

Zeitraum	11 Mai 2012
Ereignistitel	35th Annual Congress of the European Accounting Association (EAA)
Veranstaltungstyp	Konferenz
Ort	SlowenienAuf Karte anzeigen