Earnings management in family business research: yesterday, today and tomorrow

Purpose: Over the past 20 years, research interest in earnings manipulation in family businesses has increased, resulting in a growing body of studies based on different theoretical frameworks and focused on different variables and settings. This paper aims to identify the academic contexts where the research on earnings management in family firms is developed, as well as its past and recent trends, gaps and directions for future research. Design/methodology/approach: This study carries out a bibliometric and systematic literature review on a sample of 252 papers from the Scopus and Web of Science Core Collection databases. Findings: Findings indicate family ownership, corporate governance, board independence, audit committee and corporate social responsibility are relevant topics in earnings management studies on family companies, although the extent of research addressing each theme varies. A multi-theory theoretical framework, the focus on a broader range of stakeholders, a more detailed analysis of family firms’ heterogeneity and increasing attention to real earnings manipulations emerge as recent trends. Moreover, findings indicate that the discourse is primarily driven by several small, relatively consolidated research clusters, revealing a lack of extensive collaborative networks. Originality/value: This study provides a systematic overview of the characteristics of the research groups engaged in studies on earnings management in family firms. It points out past and recent trends and literature gaps and, on this basis, suggests various directions for future research.