Chief executive officer retirement and auditor’s risk assessment

What is it about?

Family-owned businesses throughout the world play a vital role in the corporate sector. Two-thirds of business enterprises around the globe are family-owned firms. Accordingly, family-owned firms contribute in no small measure to the global GDP and the entire world labour force (Credit Suisse Research Institute [CSRI], 2019). We are able to prove that in family business socio-emotional wealth better explain the incentive of the CEO as against the agency theory widely used in prior studies.

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