Financial decisions in family-owned small and medium-sized enterprises (SMEs) are often shaped by a preference for stability, strong owner control, and caution toward external financing. This study aims to identify the underlying structure of financial management attitudes and to compare family firms with non-family competitors. Drawing on a questionnaire-based survey using an industry- and size-matched control sample, we conducted factor analysis on item responses covering the 2016-2023 period, followed by cluster analysis. The results reveal two interpretable dimensions: financial prudence and owner control, and strategic financial flexibility and growth orientation. Our findings further indicate that firms can be classified into distinct groups, with cluster classification being associated with family involvement. Overall, the study concludes that family firms are characterised by a distinctive financial management logic.
XIV. ÉVFOLYAM 2026. SPECIAL ISSUES 1. 20-27
DOI: 10.24387/CI.SI.2026.1.4
A cikk megtekinthető: http://controllerinfo.hu/wp-content/uploads/2026/09/CI_kulonszam_2026_1-04.pdf
