A Conceptual Framework; CEO Power, Financial Reporting Quality and Audit Committee

Muhammad Azhar Sheikh and Ayesha Shoukat

Journal of Accounting and Finance in Emerging Economies, 2025, vol. 11, issue 1, 67-84

Abstract: Purpose of the Research: This study aims to systematically review and organize recent literature on CEO power, audit committee and financial reporting quality (FRQ) in non-financial firms, with particular focus on the role of CEO power in family-owned businesses.Data Set: The review is based on 132 peer-reviewed articles sourced from the Web of Science and Google Scholar databases, selected for their relevance to corporate governance and financial reporting.Methodology: A systematic and conceptual literature review approach was used to identify key themes, theoretical foundations, and gaps in the existing research.Results: Three major themes emerged: (i) the influence of CEO power on FRQ, (ii) the combined effect of CEO power and audit committee effectiveness on FRQ, and (iii) the independent role of audit committees. A key gap is the limited research on these dynamics in family-owned firms, where CEO power may operate differently.Major Conclusions: The study concludes that the role of CEO power in family firms is underexplored. To address this, it proposes a conceptual framework showing how CEO power affects FRQ in family business settings.Usefulness of the Study: This review offers a clear synthesis of existing research and highlights important gaps. It provides practical insights for researchers, practitioners, and policymakers, and lays the groundwork for future studies on governance and financial reporting in family-controlled firms.

Keywords: CEO Power; Audit Committee Effectiveness; Financial Reporting Quality (FRQ); Family-Owned Businesses (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:src:jafeec:v:11:y:2025:i:1:p:67-84

DOI: 10.26710/jafee.v11i1.3288

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