Abstract:
Purpose – This paper aims to review prior management accounting research founded upon family
businesses. It presents the status quo, uncovers gaps in existing literature and postulates avenues for future
scholarly inquiry.
Design/methodology/approach – In carrying out this review, a search was conducted accessing three
search engines: Emerald insight, JSTOR and ScienceDirect encompassing journals which have published
family business and management accounting research. Accordingly, 50 papers spanning 28 journals were
identified as relevant and selected for review.
Findings – The review suggests that amid heightened research interest, while literature on management
accounting in the realm of family firms has accelerated across time, how peculiarities of family businesses get
articulated in the management accounting practices they deploy deserve further study. It also became evident
that currently little is known on the use of various traditional and contemporary control practices,
sustainability accounting and infusion of new management accounting ideas as well as the use of informal
controls, which are very real to family businesses.
Research limitations/implications – This paper contributes to the on-going knowledge debates on
management accounting in family businesses and provides directions to potential researchers by illuminating
the status quo of research and issues of significance which so far has been neglected.
Practical implications – This review, being placed at the nexus of management accounting and family
businesses, offers lessons and insights to family business owners, managers and policymakers for the smooth
functioning of businesses using management accounting insights.
Originality/value – Although a vast majority of family business studies in management accounting and
controls have been published from 2013 onward, existing reviews capture publications up to 2012. Building
upon, yet moving beyond reviews to date, and encompassing latest publications, this paper advances our
understanding on the state of management accounting research in the field of family business.
