Family business management: Contribution of the CFO

doi:10.1108/13552551211227684

Paper

Family business management: Contribution of the CFO

Published May 4, 2012 · Bruce Gurd, Jill Thomas

International Journal of Entrepreneurial Behaviour & Research

UNKNOWN SJR score

27

Citations

4

Influential Citations

Full textSemantic Scholar

Abstract

Purpose – The interaction of the chief financial officer (CFO) with family and non‐family managers is important for the financial management of a family business to maximise wealth creation within the business. This paper explores the role and the possible conflict with managers from the family.Design/methodology/approach – A mixed method is used combining interviews of CFOs, CEOs and a telephone survey of CFOs in Australia. Three propositions are tested.Findings – Surprisingly, the authors find no evidence that there is substantial role conflict as has been found in previous research. Relationships with the family CEO and other family and non‐family managers are usually positive. Commitment to the business from the family and strong support from the CEO are identified as making the CFO's job easier. Conflict with external accountants appears to be minimised as external accountants usually focus on the management of personal financial affairs and taxation issues while the CFO focuses on business financial...

Study Snapshot

CFOs in family businesses generally have positive relationships with family and non-family managers, making their job easier and minimizing conflict with external accountants.

PopulationOlder adults (50-71 years)

Sample size24

MethodsObservational

OutcomesBody Mass Index projections

ResultsSocial networks mitigate obesity in older groups.

Sign up to use Study Snapshot

Consensus is limited without an account. Create an account or sign in to get more searches and use the Study Snapshot.

Create an account

Paper

Family business management: Contribution of the CFO

Sign up to use Study Snapshot

References

Creating an Environment for Successful Nonfamily CEOs: An Exploratory Study of Good Principals

Entrepreneurship in Family vs. Non–Family Firms: A Resource–Based Analysis of the Effect of Organizational Culture

The transacting cognitions of nonfamily employees in the family businesses setting

Succession and Nonsuccession Concerns of Family Firms and Agency Relationship with Nonfamily Managers

Entrepreneurship as Radical Change in the Family Business: Exploring the Role of Cultural Patterns

Agency Relationships in Family Firms: Theory and Evidence

The Salience of Market, Bureaucratic, and Clan Controls in the Management of Family Firm Transitions: Some Tentative Australian Evidence

Defining the Family Business by Behavior

Citations

An Advisor to a Family Business. Main Challenges from the Perspective of Socio-Emotional Wealth (SEW)

Formal advisors working with family businesses face challenges in understanding and accepting socio-emotional wealth as an important factor in strategic decision-making, with awareness of its importance being crucial for effective cooperation.

CEO successions in times of decline and prosperity: restoring aspiration and performance implications in family firms

Selecting a non-family outsider CEO can improve performance in family firms when performance is below aspiration levels and slack resources are high.

Mapping The Literature of Family Business Management (FBM): Bibliometric Analysis and Systematic Review

Family Business Management research has increased since 2011, with the most significant contributions from USA, Canada, and Spain, and key themes including gender roles, succession planning, and ownership related issues.

The relationship between non-family management in family firms and firm performance: A meta-analysis

Non-family management in family firms has a significant, positive, and weak relationship with performance, with a stronger effect in small, young, and private firms and panel datasets.

Non-family managers in family firms: review, integrative framework and future research agenda

This paper reviews 118 papers on non-family managers in family firms, synthesizes findings, and proposes a framework for future research.

Unpacking the Black Box of Family Business Advising: Insights From Psychology

Family business advising can be improved by integrating psychology findings and addressing key gaps in current research.