Family firm governance factors and non-audit services in family business

Rosalinda Santonastaso, Gianluca Ginesti and Riccardo Macchioni

Meditari Accountancy Research, 2025, vol. 33, issue 5-6, 1368-1393

Abstract: PurposeThe purpose of this study is to investigate the relationship between family firm governance factors and non-audit services (NASs) fees. This study also examines the moderating role of board gender diversity.Design/methodology/approachThis study uses regression analyses and hand-collected data of 593 firm-year observations for a sample of non-financial Italian public family firms from 2014 to 2022.FindingsThe results of this study show that family involvement on the board is positively related to NASs fees, while family leadership is negatively associated with NASs fees. Moreover, board gender diversity moderates the relationship between family involvement on the board and NASs fees.Practical implicationsThis study offers practical implications by enhancing the understanding of how, and under what conditions, governance factors in family firms may influence the decision-making process to acquire NASs, thereby benefiting both investors and practitioners.Originality/valueThis study provides novel empirical evidence to understand the heterogeneity among family firms in decisions concerning the acquisition of NASs.

Keywords: Family firms; External Auditing; Non-audit services; Corporate governance (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eme:medarp:medar-01-2025-2789

DOI: 10.1108/MEDAR-01-2025-2789

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