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Financial reporting in family firms: a socioemotional wealth approach toward information quality

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  • Andrea Calabrò
  • Mara Cameran
  • Domenico Campa
  • Angela Pettinicchio

Abstract

The strategic choices of family firms are influenced by economic and noneconomic reference points. We contend that the preservation of the affect-related values a family derives from its ownership position in a firm (that is, socioemotional wealth [SEW]) affects financial reporting quality and earnings management strategies. Using the voluntary International Financial Reporting Standards (IFRS) adoption by Italian unlisted family firms as a natural laboratory setting, we found that the level of SEW endowment impacts on financial reporting quality. Furthermore, we observe that IFRS adoption is associated with less accrual, but higher real activity manipulation for increasing levels of SEW endowment.

Suggested Citation

  • Andrea Calabrò & Mara Cameran & Domenico Campa & Angela Pettinicchio, 2022. "Financial reporting in family firms: a socioemotional wealth approach toward information quality," Journal of Small Business Management, Taylor & Francis Journals, vol. 60(4), pages 926-960, July.
    • Handle: RePEc:taf:ujbmxx:v:60:y:2022:i:4:p:926-960
    DOI: 10.1080/00472778.2020.1745003
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    Cited by:

    1. Ine Umans & Maarten Corten, 2023. "Ownership succession intentions affecting earnings management in private family firms," Small Business Economics, Springer, vol. 61(2), pages 827-842, August.

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