In this paper, we investigate the accounting quality of family firms within the Hungarian domestic SME sector between 2017 and 2022. We use data from direct industry competitors and from leading industry competitors of these firms in separate comparisons. We group these observations by control samples to refine some observations both technically and methodologically. The findings of the research indicate that there are differences in the accounting quality of domestic family SMEs, their direct representative industry competitors, and industry leading enterprises, which can be identified over the business years and business cycles of the research. However, these differences cannot be characterised as statistically significant based on the multivariate regression model measuring accounting quality in the domestic accounting environment, only partially for the sample and control sample 1, which do not show any persistent detectable trends.
XIII. ÉVFOLYAM 2025. SPECIAL ISSUES 3. 57-61
DOI: 10.24387/CI.SI.2025.3.10
A cikk megtekinthető: http://controllerinfo.hu/wp-content/uploads/2026/02/CI_különszám_2025_3_10.pdf
REFERENCES
ANDERSSON, F. W. – JOHANSSON, D. – KARLSSON, J. – LODEFALK, M. – POLDAHL, A. (2018): The Characteristics of Family Firms: Exploiting Information on Ownership, Kinship, and Governance Using Total Population Data. Small Business Economics, 51, 539-556. https://doi.org/10.1007/s11187-017-9947-6
BERTRAND, M., – SCHOAR, A. (2006): The Role of Family in Family Firms. Journal of Economic Perspectives, 20(2), 73-96. DOI: 10.1257/jep.20.2.73
BURKART, M. – PANUNZI, F. – SHLEIFER, A. (2003): Family Firms. The Journal of Finance, 58(5), 2167-2201. https://doi.org/10.1111/1540-6261.00601
CROSBY, P. B. (1979): Quality is Free: The Art of Making Quality Certain. Publisher: McGraw-Hill Education Inc. ISBN: 9780070145122
CROSBY, P. B. (1984): Quality Without Tears: The Art of Hassle-Free Management. Publisher: McGraw-Hill Education Inc. ISBN: 9780071371018
DECHOW, P. M. – SLOAN, R. G. – SWEENEY, A. P. (1995): Detecting Earnings Management. Accounting Review, 70(2), 193-225. http://www.jstor.org/stable/248303
FEIGENBAUM, A. V. (1991): Total Quality Control. Publisher: McGraw-Hill Education Inc. ISBN: 9780071126120
GARVIN, D. A. (1984): What Does ”Product Quality” Really Mean? Sloan Management Review, 25, 25-43.
GARVIN, D. A. (1987): Competing on the Eight Dimensions of Quality. Harvard Business Review, November Edition, 101-109. https://hbr.org/1987/11/competing-on-the-eight-dimensions-of-quality
HEALY, P. M. (1985): The Effect of Bonus Schemes on Accounting Decisions. Journal of Accounting and Economics, 7(1-3), 85-107. https://doi.org/10.1016/0165-4101(85)90029-1
HIEBL, M. R. (2012): Risk Aversion in Family Firms: What Do We Really Know? The Journal of Risk Finance, 14(1), 49-70. https://doi.org/10.1108/15265941311288103
IFRS FOUNDATION (2018): Conceptual Framework for Financial Reporting.
ISAKSSON, R. (2006): Total Quality Management for Sustainable Development: Process Based System Models. Business Process Management Journal, 12(5), 632-645. https://doi.org/10.1108/14637150610691046
KOTHARI, S. P. – LEONE, A. J. – WASLEY, C. E. (2005): Performance Matched Discretionary Accrual Measures. Journal of Accounting and Economics, Vol. 39(1), 163-197. https://doi.org/10.1016/j.jacceco.2004.11.002
MCKINSEY & COMPANY (2023): The Secrets of Outperforming Family-Owned Businesses: How They Create Value—and How You Can Become One, report and article. https://www.mckinsey.com/industries/private-capital/our-insights/the-secrets-of-outperforming-family-owned-businesses-how-they-create-value-and-how-you-can-become-one
TEOH, S. H. – WELCH, I. – WONG, T. J. (1998): Earnings Management and the Underperformance of Seasoned Equity Offerings. Journal of Financial Economics, 50(1), 63-99. https://doi.org/10.1016/S0304-405X(98)00032-4
TONG, Y. H. (2007): Financial Reporting Practices of Family Firms. Advances in Accounting, 23, 231-261. https://doi.org/10.1016/S0882-6110(07)23009-3
WIESZT, A. (2019): Governance in Hungarian Family Businesses. The Central European Review of Economics and Management, 3(1), 7-46. https://doi.org/10.29015/cerem.786
ZELLWEGER, T. (2017): Managing the Family Business: Theory and Practice. Publisher: Edward Elgar Publishing Limited. ISBN 978 1 783470716
