The ownership share of a part of the capital market companies is owned by family owners who usually try to appoint the supervisory and executive bodies of the company in such a way as to get the most return through focusing on financial functions because of the priority of their interests. The existence of such an approach in the ownership structure of companies usually causes the rights of other stakeholders to be violated by using accounting as a tool to realize their interests. Therefore, the purpose of this study is to present the legacy accounting framework and matrix evaluation of its functions in family ownership.
This study is exploratory from the objective point of view, and it is considered mixed based on the nature of data collection. Therefore, based on the nature of such a process, first, through interviews with experts, it was tried to identify the factors affecting the formation of legacy accounting in the context of family ownership companies through three stages of coding, and based on the Delphi analysis, the reliability of the main axes should be examined to determine the most effective field of identification in the formation of legacy accounting in family ownership companies with the possibility of generalizing it to the study context in the quantitative section.
The results of this study in the qualitative part, based on 12 interviews, indicate the identification of 4 categories, 8 components and 39 themes in the form of a multidimensional model. Also, in the quantitative part, the results showed that the most important field in strengthening the formation of legacy accounting in the context of the functions of family ownership companies is the central component of the golden opportunity of governance. These results are indicative of the fact that the opportunistic functions of governance consider accounting as a tool to fulfill their wishes and the disclosure of selective information provides the interests of family members who are directly or indirectly on the board of directors.
This research is one of the few studies in the field of legacy accounting framework and matrix evaluation of its functions in family firm. Because previous studies have presented various influences of family ownership on accounting in the form of theoretical frameworks, this study has tried to show the more comprehensive aspects of the influence of powerful family members on the possessive functions of accounting by create a framework and comparative matrices. The originality of this study is, first, the identification of the driving fields of the legacy accounting, and second, this study follows the interpretive ranking process of the factors identified in the family firm. Both implications raised in this section show the knowledge-enhancing and practical capacities of the study.
