Presentation of Heritage Accounting Framework and Matrix-based evaluation of Its Functions in Family Ownership

Jalali Gorgani, Fatemeh; Abdoli,  Mohammadreza; Valiyan, Hasan; Safari Gerayli, Mehdi; Hosseini, Mohammad Mehdi

[Home ] [Archive]

[ فارسی ]

Main Menu

Home

Journal Information

Articles archive

For Authors

For Reviewers

Registration

Contact us

Site Facilities

Search in website

Receive site information

year 16, Issue 64 (2024)

fa 2024, 16(64): 46-68

Back to browse issues page

Presentation of Heritage Accounting Framework and Matrix-based evaluation of Its Functions in Family Ownership

Fatemeh Jalali Gorgani¹

, Mohammadreza Abdoli¹

, Hasan Valiyan ^*¹

, Mehdi Safari Gerayli²

, Mohammad Mehdi Hosseini³

1- Department of Accounting, Sha.C., Islamic Azad University, Shahrood, Iran.
2- Department of accounting, BG.C., Islamic Azad University, Bandargaz, Iran.
3- Department of Computer Engineering, Sha.C., Islamic Azad University, Shahrood, Iran.

Abstract: (71 Views)

The ownership share of a part of the capital market companies is owned by “family owners, who usually seek to appoint” the supervisory and executive bodies of the company in such a way as to get maximize returns by focusing on financial performance due to the priority of their interests. The existence of such an approach in the ownership structure of companies usually causes the rights of other stakeholders to be violated by using accounting as a tool to realize their interests. Therefore, the purpose of this study is to present the Heritage Accounting framework and matrix-based evaluation of its functions in family ownership. This study is exploratory from the objective point of view and it is considered mixed based on the nature of data collection. Therefore, based on the nature of such a process, first, through interviews with experts, we aimed to identify the factors affecting the formation of Heritage Accounting in the context of family-owned companies through three stages of coding and based on the Delphi analysis, the reliability of the main axes should be examined in order to determine the most effective field of identification in the formation of Heritage Accounting in family-owned companies with the possibility of generalizing it to the study context in the quantitative section. The results of the study in the qualitative part, based on 12 interviews, indicate the identification of 4 categories, 8 components and 39 themes in the form of a multidimensional model. Also, in the quantitative part, the results showed that the most important field in strengthening the formation of Heritage Accounting in the context of the functions of family-owned companies is the central component of governance opportunism. These results are indicative of the fact that the opportunistic functions of governance consider accounting as a tool to fulfill their wishes and the disclosure of selective information provides the interests of family members who are directly or indirectly on the board of directors. Therefore, Heritage Accounting is a creation of thinking, selection and type of appointments in the structure of family-owned companies while trying to avoid any legal violations, by confiscating the company's elements in the implementation of events and financial events, they merely reflect news to other stakeholders so that the interests of the main owners of the company are not harmed.

Article number: 3

Keywords: Heritage Accounting, Matrix-based evaluation, Family Ownership.

Full-Text [PDF 1319 kb] (47 Downloads)

Type of Study: Research | Subject: Special

References

1. Amato, S., L. Broccardo & A. Tenucci. (2024). Family firms, management control and digitalization effect. Management Decision 2(4): 47-68. https://doi.org/10.1108/MD-03-2023-0347

2. Arayssi, M., & M. Jizi. (2024). Royal family board directors and the level of ESG disclosures in GCC listed firms. Journal of Accounting & Organizational Change 20(1): 58-83. https://doi.org/10.1108/JAOC-08-2022-0123

3. Aversano, N., J. Christiaens, P. Tartaglia Polcini & G. Sannino. (2020). Accounting for heritage assets: An analysis of governmental organization comment letters on the IPSAS consultation paper. International Journal of Public Sector Management 33(2/3): 307-322. https://doi.org/10.1108/IJPSM-12-2018-0275

4. Baek, H.Y., D.D. Cho & P. Fazio (2016). Family ownership, control and corporate capital structure: An examination of small capitalization public firms. Journal of Family Business Management 6(2): 169-185. https://doi.org/10.1108/JFBM-02-2015-0006

5. Bong, S. (2023). Facets of Family Constitutions: Conceptual Origins, Practical Approaches, and Legal Implications, Fleischer, H. and Prigge, S. (Ed.) Family Firms and Family Constitution (Law and Management of Family Firms), Emerald Publishing Limited, Leeds, pp. 179-193. https://doi.org/10.1108/978-1-83797-200-520231012

6. Charmaz, K. (2011). Grounded theory methods in social justice research. The Sage Handbook of Qualitative Research 4(3): 359-380.

7. Derluguian, G. & T. Earle. (2010). Strong chieftaincies out of weak states, or elemental power unbound, Berg Harpviken, K. (Ed.) Troubled Regions and Failing States: The Clustering and Contagion of Armed Conflicts (Comparative Social Research, Vol. 27), Emerald Group Publishing Limited, Bingley, 51-76. https://doi.org/10.1108/S0195-6310(2010)0000027006

8. D'Este, C., & M. Carabelli. (2022). Family ownership and risk: the role of family managers. Corporate Governance 22(6): 1161-1177. https://doi.org/10.1108/CG-09-2021-0338

9. Dyer, G.W., & D. Whetten. (2006). Corporate Social Responsibility and Family Business in Spain. Journal of Business Ethics 56(1): 27–41.

10. Fernández, W.D. (2004). The grounded theory method and case study data in IS research: issues and design. In Information Systems Foundations Workshop: Constructing and Criticizing 1(1): 43-59.

11. Gao, W., W. Li & Z. Huang. (2017). Do family CEOs benefit investment efficiency when they face uncertainty? Evidence from Chinese family firms. Chinese Management Studies 11(2): 248-269. https://doi.org/10.1108/CMS-03-2016-0052

12. Gimeno, R. (2010). The euro as a reserve currency for global investors, Working Papers: Banco de España. 2(2): 1-12.

13. Glaser, B.G. (1992). Theoretical Sensitivity: Advances in the methodology of grounded theory. Mill Valley, Calif.: Sociology Press.

14. Glaser, B.G., & J. Holton. (2005). Staying open: The use of theoretical codes in grounded theory. The Grounded Theory Review 5(1): 1-20.

15. Glaser, B.G., & J. Holton. (2007). Remodeling grounded theory, Historical Social Research/Historische Sozialforschung. Supplement 19(32): 47-68.

16. Heino, N., P. Tuominen & I. Jussila. (2020). Listed Family Firm Stakeholder Orientations: The Critical Role of Value-creating Family Factors. Journal of Family Business Strategy 11(4): 35-55. https://doi.org/10.1016/j.jfbs.2020.100376

17. Henwood, K., & N. Pidgeon. (1992). Qualitative Research and Psychological Theorizing. British Journal of Psychology 83(3): 97-111. http://dx.doi.org/10.1111/j.2044-8295.1992.tb02426.x

18. Hope, O.K. (2015). Large shareholders and accounting research. China Journal of Accounting Research 6(1): 3-20. https://doi.org/10.1016/j.cjar.2012.12.002

19. John William, A., M. Suresh & N. Subramanian. (2023). Examining the causal relationships among factors influencing SMEs' competitive advantage: a TISM-neutrosophic MICMAC approach, Benchmarking: An International Journal https://doi.org/10.1108/BIJ-08-2022-0529

20. Kaimal, A., & S. Uzma. (2024). Corporate social responsibility expenditure and financial performance: the moderating role of family ownership. Corporate Governance 24(1): 101-118. https://doi.org/10.1108/CG-03-2022-0128

21. Lane, S.H. (2004). An Organizational Development Team-Building Approach to Consultation with Family Business. Family Business Review 2(1): 5-16. https://doi.org/10.1111/j.1741-6248.1989.00005.x

22. Lee, Y. (2022). The Impact of Corporate Governance Mechanisms on the Commitment of Managers in an IPO Setting: Evidence from Korean Small and Venture Firms. Sustainability 14(1): 730-764. https://doi.org/10.3390/su14020730

23. Motylska-Kuzma, A., I. Szymanska & K. Safin. (2023). Family influence and succession strategies in private businesses at the cusp of leadership change: comparison between family firms and lone founder enterprises. Journal of Family Business Management 13(4): 955-989. https://doi.org/10.1108/JFBM-04-2022-0056

24. Ntari, L., & A.P. Deliwe. (2023). Parental influence on next-generation family members in South African Black-owned family businesses. Journal of Family Business Management 3(1): 58-79. https://doi.org/10.1108/JFBM-06-2023-0076

25. Pascucci, F., O. Domenichelli, E. Peruffo & G.L. Gregori. (2022), Family ownership and the export performance of SMEs: the moderating role of financial constraints and flexibility. Journal of Small Business and Enterprise Development 29(4): 602-626. https://doi.org/10.1108/JSBED-03-2021-0113

26. Porter, S., & M. Pentz. (2013). Accounting and conflict resolution in Ireland. Journal of International Education in Business 6(2): 122-135. https://doi.org/10.1108/JIEB-05-2013-0023

27. Qiu, H., & Freel, M. (2019). Managing Family-Related Conflicts in Family Businesses: A Review and Research Agenda. Family Business Review, 33(1): 90-113. https://doi.org/10.1177/0894486519893223

28. Rahman, M.J., & H. Zhu. (2024). Detecting accounting fraud in family firms: Evidence from machine learning approaches. Advances in Accounting 64(1): 1-19. https://doi.org/10.1016/j.adiac.2023.100722

29. Sahoo, P.S.B.B., & V. Thakur. (2023). Blockchainembedded supply chain finance solutions for Indian MSMEs: a TISM and MICMAC approach. Journal of Business & Industrial Marketing 4(3): 89-104. https://doi.org/10.1108/JBIM-06-2022-0264

30. Veltmeyer, J., & S. Mohamed. (2017). Investigation into the hierarchical nature of TQM variables using structural modeling. International Journal of Quality & Reliability Management 34(4): 462-477. https://doi.org/10.1108/IJQRM-04-2015-0052

31. Widodo, H., N.R. Hanun & R. Wulandari. (2020). Accounting Treatment for Heritage Assets: A Case Study on Management of Pari Temple. Journal of Accounting and Investment 21(1): 74-89. https://doi.org/10.18196/jai.2101138

32. Wild, S. (2015). Accounting for Heritage, Cultural and Community Assets: Alternative Metrics from a New Zealand Māori Educational Institution, Australasian Accounting. Business and Finance Journal 7(1): 3-22. https://doi.org/10.14453/aabfj.v7i1.2

33. Wolf, Ch., & N. Aversano. (2020). Heritage assets in the due process of the International Public Sector Accounting Standards Board (IPSASB). Public Money & Management 4(1): 100-121. https://doi.org/10.1080/09540962.2020.1727114

34. Wolf, J.Ch., & N. Aversano. (2023). Heritage assets in the due process of the International Public Sector Accounting Standards Board (IPSASB). Public Money & Management https://doi.org/10.1080/09540962.2020.1727114

35. Xia, C., C. Cao & K.C. Chan. (2017). Social Trust Environment and Firm Tax Avoidance: Evidence from China. The North American Journal of Economics and Finance 42(2): 374-392.

36. Yang, X., H. Shang, W. Li & H. Lan. (2022). How does family ownership and management influence green innovation of family firms: evidence from China. European Journal of Innovation Management 27(1): 170–192. https://doi.org/10.1108/EJIM-01-2022-0033

37. Zhou, L. (2014). Social responsibility and employees’ organizational identification in Chinese family firms: Influence of family ownership and family commitment. Chinese Management Studies 8(4): 683-703. https://doi.org/10.1108/CMS-11-2012-0159

38. Zhu, H., P. Zhang, X. Han & T. Huang. (2018). Family involvement in management in private businesses and the effect on professional managers’ psychological ownership: A new explanation of the sense of “us”. Nankai Business Review International 9(2): 225-243. https://doi.org/10.1108/NBRI-08-2017-0043

Send email to the article author

Add your comments about this article

Mendeley

Zotero

RefWorks

Jalali Gorgani F, Abdoli M, Valiyan H, Safari Gerayli M, Hosseini M M. Presentation of Heritage Accounting Framework and Matrix-based evaluation of Its Functions in Family Ownership. fa 2024; 16 (64) : 3
URL: http://qfaj.mobarakeh.iau.ir/article-1-2822-en.html

Rights and permissions
	This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

year 16, Issue 64 (2024)

Back to browse issues page

Persian site map - English site map - Created in 0.06 seconds with 35 queries by YEKTAWEB 4718