An increasing influence of families in firms is associated with lower professionalisation. A less professionalized firm might not be able to exploit the benefits of elaborate accounting functions that are fundamental for effective decision-making and control. Yet, it is unclear to date if higher...

Despite the importance of intellectual capital (IC), accounting standards are conservative concerning the capitalization of IC as assets. Thus, intangible-intensive firms disclose additional IC information, e.g. in their annual reports. The market-to-book value (MBV) ratio is regarded as an...