{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,22]],"date-time":"2026-01-22T22:25:49Z","timestamp":1769120749734,"version":"3.49.0"},"reference-count":138,"publisher":"MDPI AG","issue":"1","license":[{"start":{"date-parts":[[2026,1,20]],"date-time":"2026-01-20T00:00:00Z","timestamp":1768867200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Systems"],"abstract":"<jats:p>Existing research often regards a family business\u2019s choice of auditor as a simple and isolated decision. In contrast, this paper presents a complex adaptive system in a broader definition of family businesses, and shows audit supervision emerging dynamically from the interplay of digital transformation, governance, and family generational succession. This paper finds that a larger extent of digital transformation makes family businesses more likely to adopt industry specialist audits. This relationship happens through agency problems within the system. Crucially, the involvement of a digitally literate second generation rebalances these forces by alleviating agency issues, thereby strengthening the push toward industry specialist audits. Our study provides a perspective, revealing that audit governance is not a discrete choice but a system-level outcome of internal tensions and adaptations. This framework offers clear guidance: (1) for family owners, fostering digital literacy in the next generation is key to improving governance during technological change; (2) for auditors, it highlights the evolving risk and demand landscape in digitalizing family firms; (3) for policymakers, it encourages the importance of initiatives that support both digital transformation and governance development in family businesses.<\/jats:p>","DOI":"10.3390\/systems14010108","type":"journal-article","created":{"date-parts":[[2026,1,20]],"date-time":"2026-01-20T14:57:58Z","timestamp":1768921078000},"page":"108","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":0,"title":["The Extent of Digital Transformation, Dual Agency Problems, and the Choice of Industry Specialist Audits in Family Businesses: Evidence from China"],"prefix":"10.3390","volume":"14","author":[{"given":"Zhening","family":"Tang","sequence":"first","affiliation":[{"name":"School of Business, Macau University of Science and Technology, Macau 999078, China"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-8015-1575","authenticated-orcid":false,"given":"Chan","family":"Lyu","sequence":"additional","affiliation":[{"name":"School of Business, Macau University of Science and Technology, Macau 999078, China"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"1968","published-online":{"date-parts":[[2026,1,20]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","first-page":"310","DOI":"10.1111\/jpim.12207","article-title":"The Ability and Willingness Paradox in Family Firm Innovation","volume":"32","author":"Chrisman","year":"2015","journal-title":"J. Prod. Innov. Manag."},{"key":"ref_2","doi-asserted-by":"crossref","unstructured":"Day, G.S., and Schoemaker, P.J. (2019). See Sooner, Act Faster: How Vigilant Leaders Thrive in an Era of Digital Turbulence, MIT Press.","DOI":"10.7551\/mitpress\/11837.001.0001"},{"key":"ref_3","doi-asserted-by":"crossref","first-page":"101273","DOI":"10.1016\/j.bar.2023.101273","article-title":"Family business origin and investment preference: An empirical study of imprinting theory","volume":"56","author":"Cheng","year":"2024","journal-title":"Br. Account. Rev."},{"key":"ref_4","doi-asserted-by":"crossref","first-page":"555","DOI":"10.1111\/j.1540-6520.2005.00098.x","article-title":"Trends and directions in the development of a strategic management theory of the family firm","volume":"29","author":"Chrisman","year":"2005","journal-title":"Entrep. Theory Pract."},{"key":"ref_5","doi-asserted-by":"crossref","first-page":"521","DOI":"10.1108\/IJEBR-06-2017-0184","article-title":"Resource configurations for new family venture growth","volume":"24","author":"Mallon","year":"2018","journal-title":"Int. J. Entrep. Behav. Res."},{"key":"ref_6","unstructured":"Schwab, K. (2016). The Fourth Industrial Revolution, World Economic Forum."},{"key":"ref_7","unstructured":"PwC (2025, October 05). Global Family Business Survey 2021. Available online: https:\/\/www.pwc.com\/familybusinesssurvey."},{"key":"ref_8","doi-asserted-by":"crossref","first-page":"211","DOI":"10.1177\/08944865030160030601","article-title":"Family businesses\u2019 contribution to the U.S. economy: A closer look","volume":"16","author":"Astrachan","year":"2003","journal-title":"Fam. Bus. Rev."},{"key":"ref_9","doi-asserted-by":"crossref","first-page":"198","DOI":"10.1108\/13552551211204229","article-title":"Strategic innovation and new product development in family firms: An empirically grounded theoretical framework","volume":"18","author":"Cassia","year":"2012","journal-title":"Int. J. Entrep. Behav. Res."},{"key":"ref_10","doi-asserted-by":"crossref","first-page":"594","DOI":"10.1111\/jsbm.12344","article-title":"How do family firms launch new businesses? A developmental perspective on internal corporate venturing in family business","volume":"55","author":"Brumana","year":"2017","journal-title":"J. Small Bus. Manag."},{"key":"ref_11","doi-asserted-by":"crossref","first-page":"258","DOI":"10.1177\/0894486511435355","article-title":"Socioemotional wealth in family firms: Theoretical dimensions, assessment approaches, and agenda for future research","volume":"25","author":"Berrone","year":"2012","journal-title":"Fam. Bus. Rev."},{"key":"ref_12","doi-asserted-by":"crossref","first-page":"292","DOI":"10.1016\/j.jbusres.2021.09.060","article-title":"How a larger family business is different from a non-family one?","volume":"139","author":"Chang","year":"2022","journal-title":"J. Bus. Res."},{"key":"ref_13","doi-asserted-by":"crossref","first-page":"1029","DOI":"10.1111\/etap.12254","article-title":"Digital entrepreneurship: Toward a digital technology perspective of entrepreneurship","volume":"41","author":"Nambisan","year":"2017","journal-title":"Entrep. Theory Pract."},{"key":"ref_14","first-page":"300","article-title":"Who should select the external auditor in emerging economies? Role of institutional ownership and family ownership","volume":"46","author":"Tawfik","year":"2024","journal-title":"J. Econ. Manag."},{"key":"ref_15","first-page":"156","article-title":"Firm\u2019s Digitalization, Specific Knowledge and Organizational Empowerment","volume":"38","author":"Liu","year":"2020","journal-title":"China Ind. Econ."},{"key":"ref_16","doi-asserted-by":"crossref","first-page":"763","DOI":"10.1177\/10422587231226111","article-title":"Liability of ownership origin, corporate philanthropy, and desire for control in Chinese family firms","volume":"48","author":"Jin","year":"2024","journal-title":"Entrep. Theory Pract."},{"key":"ref_17","doi-asserted-by":"crossref","first-page":"1263","DOI":"10.1111\/etap.12065","article-title":"Goal setting in family firms: Goal diversity, social interactions, and collective commitment to family-centered goals","volume":"37","author":"Kotlar","year":"2013","journal-title":"Entrep. Theory Pract."},{"key":"ref_18","doi-asserted-by":"crossref","first-page":"225","DOI":"10.54691\/bcpbm.v28i.2242","article-title":"Analysis of the impact mechanism of digital transformation of enterprises-Based on the perspective of intergenerational inheritance of family enterprises and textual analysis method","volume":"28","author":"Chen","year":"2022","journal-title":"BCP Bus. Manag."},{"key":"ref_19","doi-asserted-by":"crossref","first-page":"1993","DOI":"10.2308\/accr-50536","article-title":"Do individual auditors affect audit quality? Evidence from archival data","volume":"88","author":"Gul","year":"2013","journal-title":"Account. Rev."},{"key":"ref_20","doi-asserted-by":"crossref","first-page":"119","DOI":"10.1007\/s10551-023-05596-6","article-title":"Individual Auditor Social Responsibility and Audit Quality: Evidence from China","volume":"194","author":"Pittman","year":"2024","journal-title":"J. Bus. Ethics"},{"key":"ref_21","doi-asserted-by":"crossref","first-page":"127","DOI":"10.2308\/accr.2010.85.1.127","article-title":"Client importance, institutional improvements, and audit quality in China: An office and individual auditor level analysis","volume":"85","author":"Chen","year":"2010","journal-title":"Account. Rev."},{"key":"ref_22","first-page":"16","article-title":"The association between changes in client firm agency costs and auditor switching","volume":"11","author":"DeFond","year":"1992","journal-title":"Audit. J. Pract. Theory"},{"key":"ref_23","doi-asserted-by":"crossref","first-page":"785","DOI":"10.1111\/j.1540-6520.2006.00151.x","article-title":"Family firms and social responsibility: Preliminary evidence from the S&P 500","volume":"30","author":"Dyer","year":"2006","journal-title":"Entrep. Theory Pract."},{"key":"ref_24","doi-asserted-by":"crossref","first-page":"1217","DOI":"10.1093\/jleo\/ews028","article-title":"Institutions and organizational structure: The case of state-owned corporate pyramids","volume":"29","author":"Fan","year":"2013","journal-title":"J. Law Econ. Organ."},{"key":"ref_25","first-page":"103","article-title":"Does Managers\u2019 Short-sighted Behavior Hinder Enterprises\u2019 Digital Transformation: Empirical Evidence Based on Text Analysis and Machine Learning","volume":"41","author":"Wang","year":"2022","journal-title":"Mod. Econ. Res."},{"key":"ref_26","first-page":"70","article-title":"Adoption of rural development policies in rural areas of Italy: Between family and farm strategy","volume":"17","author":"Bartoli","year":"2016","journal-title":"Agric. Econ. Rev."},{"key":"ref_27","doi-asserted-by":"crossref","first-page":"2316","DOI":"10.1080\/09537325.2024.2358431","article-title":"Second-generation involvement and the digitalisation of family firms: Evidence from China","volume":"37","author":"Xu","year":"2025","journal-title":"Technol. Anal. Strateg. Manag."},{"key":"ref_28","first-page":"164","article-title":"Will Industry-Specialist Auditors Adequately Disclose Critical Audit Matters?","volume":"42","author":"Chen","year":"2021","journal-title":"Account. Res."},{"key":"ref_29","doi-asserted-by":"crossref","first-page":"89","DOI":"10.1111\/corg.12517","article-title":"Non-family shareholder governance and the digital transformation of family firms: Evidence from China","volume":"32","author":"Du","year":"2024","journal-title":"Corp. Gov. Int. Rev."},{"key":"ref_30","doi-asserted-by":"crossref","first-page":"3119","DOI":"10.1080\/00472778.2023.2293908","article-title":"Auditing in family firms: Past trends and future research directions","volume":"62","author":"Gil","year":"2024","journal-title":"J. Small Bus. Manag."},{"key":"ref_31","doi-asserted-by":"crossref","first-page":"119751","DOI":"10.1016\/j.techfore.2019.119751","article-title":"The digital transformation of external audit and its impact on corporate governance","volume":"150","author":"Manita","year":"2020","journal-title":"Technol. Forecast. Soc. Change"},{"key":"ref_32","doi-asserted-by":"crossref","first-page":"809","DOI":"10.1057\/s41267-019-00213-z","article-title":"A missing link in family firms\u2019 internationalization research: Family structures","volume":"50","author":"Arregle","year":"2019","journal-title":"J. Int. Bus. Stud."},{"key":"ref_33","doi-asserted-by":"crossref","first-page":"19","DOI":"10.1177\/104225879902300402","article-title":"Defining the family business by behavior","volume":"23","author":"Chua","year":"2015","journal-title":"Entrep. Theory Pract."},{"key":"ref_34","first-page":"101","article-title":"Effect and Mechanism of Digital Economy on the Level of Chinese Modernization","volume":"39","author":"Chen","year":"2023","journal-title":"Stat. Decis."},{"key":"ref_35","doi-asserted-by":"crossref","first-page":"102788","DOI":"10.1016\/j.irfa.2023.102788","article-title":"Customer concentration and digital transformation","volume":"89","author":"Li","year":"2023","journal-title":"Int. Rev. Financ. Anal."},{"key":"ref_36","first-page":"114","article-title":"Can Digital Transformation Improve Corporate Social Responsibility Performance? An Analysis from the Perspectives of Resource Acquisition and Corporate Governance","volume":"38","author":"Lin","year":"2023","journal-title":"Financ. Econ. Res."},{"key":"ref_37","first-page":"1","article-title":"Research on the nonlinear impact of digital transformation on innovation output of enterprises","volume":"44","author":"Luo","year":"2023","journal-title":"Sci. Res. Manag."},{"key":"ref_38","first-page":"72","article-title":"Moderating Role of Redundant Resource, Digital Transformation and Enterprise High-Quality Development","volume":"44","author":"Wang","year":"2022","journal-title":"J. Shanxi Univ. Financ. Econ."},{"key":"ref_39","doi-asserted-by":"crossref","first-page":"344","DOI":"10.1016\/j.emj.2020.10.006","article-title":"Big data in family firms: A socioemotional wealth perspective","volume":"39","author":"Arzubiaga","year":"2021","journal-title":"Eur. Manag. J."},{"key":"ref_40","doi-asserted-by":"crossref","first-page":"10","DOI":"10.1177\/0894486512466258","article-title":"Research on technological innovation in family firms: Present debates and future directions","volume":"26","author":"Frattini","year":"2013","journal-title":"Fam. Bus. Rev."},{"key":"ref_41","doi-asserted-by":"crossref","unstructured":"Dewangan, S., Kumar, S., Chatterjee, P., and Dhiraj, A. (2024). A Conceptual Model for Exploring Innovation in Family Firms: Integration of Socio-emotional Wealth and Resource-based Theory Perspectives. Entrepreneurial Behaviour of Family Firms: Perspectives on Emerging Economies, Emerald Publishing Limited.","DOI":"10.1108\/978-1-83753-934-520241009"},{"key":"ref_42","doi-asserted-by":"crossref","first-page":"103364","DOI":"10.1016\/j.irfa.2024.103364","article-title":"CEO power, internal control quality, and entrepreneurial innovation spirit in family enterprises","volume":"95","author":"Li","year":"2024","journal-title":"Int. Rev. Financ. Anal."},{"key":"ref_43","first-page":"213","article-title":"Corporate Governance Research in the Digital Economy: New Paradigms and Frontiers of Practice","volume":"38","author":"Chen","year":"2022","journal-title":"J. Manag. World"},{"key":"ref_44","doi-asserted-by":"crossref","first-page":"113395","DOI":"10.1016\/j.jbusres.2022.113395","article-title":"How do family firms respond strategically to the digital transformation trend: Disclosing symbolic cues or making substantive changes?","volume":"155","author":"Liu","year":"2023","journal-title":"J. Bus. Res."},{"key":"ref_45","doi-asserted-by":"crossref","first-page":"142","DOI":"10.1111\/jpim.12551","article-title":"Digital Transformation through Exploratory and Exploitative Internet of Things Innovations: The Impact of Family Management and Technological Diversification","volume":"38","author":"Ceipek","year":"2021","journal-title":"J. Prod. Innov. Manag."},{"key":"ref_46","doi-asserted-by":"crossref","first-page":"867","DOI":"10.1177\/1042258721998946","article-title":"Family Influence and Digital Business Model Innovation: The Enabling Role of Dynamic Capabilities","volume":"45","author":"Soluk","year":"2021","journal-title":"Entrep. Theory Pract."},{"key":"ref_47","doi-asserted-by":"crossref","first-page":"701","DOI":"10.1016\/j.leaqua.2017.03.001","article-title":"CEO succession, strategic change, and post-succession performance: A meta-analysis","volume":"28","author":"Schepker","year":"2017","journal-title":"Leadersh. Q."},{"key":"ref_48","doi-asserted-by":"crossref","first-page":"305","DOI":"10.1111\/j.1540-6520.2004.00047.x","article-title":"Toward an integrative model of effective FOB succession","volume":"28","author":"Miller","year":"2004","journal-title":"Entrep. Theory Pract."},{"key":"ref_49","unstructured":"Ward, J.L. (2016). Keeping the Family Business Healthy: How to Plan for Continuing Growth, Profitability, and Family Leadership, Palgrave Macmillan Press."},{"key":"ref_50","doi-asserted-by":"crossref","first-page":"161","DOI":"10.1007\/s10551-017-3728-7","article-title":"How can responsible family ownership be sustained across generations? A family social capital approach","volume":"159","author":"Arredondo","year":"2019","journal-title":"J. Bus. Ethics"},{"key":"ref_51","doi-asserted-by":"crossref","first-page":"131","DOI":"10.1016\/j.jfbs.2014.03.001","article-title":"Family management and profitability in private family-owned firms: Introducing generational stage and the socioemotional wealth perspective","volume":"5","author":"Sciascia","year":"2014","journal-title":"J. Fam. Bus. Strategy"},{"key":"ref_52","doi-asserted-by":"crossref","first-page":"287","DOI":"10.1108\/CMS-08-2017-0241","article-title":"Does a second-generation returnee make the family firm more entrepreneurial? The China experience","volume":"12","author":"Fu","year":"2018","journal-title":"Chin. Manag. Stud."},{"key":"ref_53","doi-asserted-by":"crossref","first-page":"101984","DOI":"10.1016\/j.jcorpfin.2021.101984","article-title":"Trust and innovation: Evidence from CEOs\u2019 early-life experience","volume":"69","author":"Kong","year":"2021","journal-title":"J. Corp. Financ."},{"key":"ref_54","doi-asserted-by":"crossref","first-page":"317","DOI":"10.1016\/j.jcorpfin.2015.01.005","article-title":"One-child policy and family firms in China","volume":"33","author":"Cao","year":"2015","journal-title":"J. Corp. Financ."},{"key":"ref_55","doi-asserted-by":"crossref","first-page":"749","DOI":"10.1007\/s10490-012-9331-7","article-title":"Incubating the next generation to venture: The case of a family business in Hong Kong","volume":"30","author":"Au","year":"2013","journal-title":"Asia Pac. J. Manag."},{"key":"ref_56","doi-asserted-by":"crossref","first-page":"212","DOI":"10.1016\/j.jcorpfin.2015.01.008","article-title":"The family business map: Framework, selective survey, and evidence from Chinese family firm succession","volume":"33","author":"Bennedsen","year":"2015","journal-title":"J. Corp. Financ."},{"key":"ref_57","doi-asserted-by":"crossref","first-page":"647","DOI":"10.1162\/qjec.122.2.647","article-title":"Inside the family firm: The role of families in succession decisions and performance","volume":"122","author":"Bennedsen","year":"2007","journal-title":"Q. J. Econ."},{"key":"ref_58","doi-asserted-by":"crossref","first-page":"238","DOI":"10.1016\/j.jacceco.2007.01.006","article-title":"Corporate disclosures by family firms","volume":"44","author":"Ali","year":"2007","journal-title":"J. Account. Econ."},{"key":"ref_59","doi-asserted-by":"crossref","first-page":"529","DOI":"10.1111\/j.1467-8683.2011.00856.x","article-title":"Income Smoothing in Family-Controlled Companies: Evidence from Italy","volume":"19","author":"Prencipe","year":"2011","journal-title":"Corp. Gov. Int. Rev."},{"key":"ref_60","doi-asserted-by":"crossref","first-page":"310","DOI":"10.1016\/j.iref.2012.07.008","article-title":"Substitutability and complementarity of corporate governance mechanisms in Latin America","volume":"25","author":"Cueto","year":"2013","journal-title":"Int. Rev. Econ. Financ."},{"key":"ref_61","doi-asserted-by":"crossref","first-page":"35","DOI":"10.1111\/j.1475-679x.2004.00162.x","article-title":"Do External Auditors Perform a Corporate Governance Role in Emerging Markets? Evidence from East Asia","volume":"43","author":"Fan","year":"2005","journal-title":"J. Account. Res."},{"key":"ref_62","doi-asserted-by":"crossref","first-page":"199","DOI":"10.1177\/0894486509333424","article-title":"Family Capital of Family Firms: Bridging Human, Social, and Financial Capital","volume":"22","author":"Danes","year":"2009","journal-title":"Fam. Bus. Rev."},{"key":"ref_63","first-page":"134","article-title":"The impact of technological innovation efficiency on firm growth: The moderating role of family involvement in management","volume":"23","year":"2020","journal-title":"Eur. J. Innov. Manag."},{"key":"ref_64","doi-asserted-by":"crossref","first-page":"305","DOI":"10.1016\/0304-405X(76)90026-X","article-title":"Theory of the Firm: Managerial behavior, agency costs and ownership structure","volume":"3","author":"Jensen","year":"1976","journal-title":"J. Financ. Econ."},{"key":"ref_65","doi-asserted-by":"crossref","first-page":"112","DOI":"10.1016\/j.jacceco.2008.04.001","article-title":"State ownership, the institutional environment, and auditor choice: Evidence from China","volume":"46","author":"Wang","year":"2008","journal-title":"J. Account. Econ."},{"key":"ref_66","first-page":"272","article-title":"The Demand for External Auditing: Size, Debt and Ownership Influences","volume":"57","author":"Chow","year":"1982","journal-title":"Account. Rev."},{"key":"ref_67","doi-asserted-by":"crossref","first-page":"151","DOI":"10.1016\/j.jacceco.2009.08.003","article-title":"Auditor choice in privatized firms: Empirical evidence on the role of state and foreign owners","volume":"48","author":"Guedhami","year":"2009","journal-title":"J. Account. Econ."},{"key":"ref_68","doi-asserted-by":"crossref","first-page":"160","DOI":"10.1108\/02686900010322353","article-title":"The demand for external auditing: Managerial share ownership, size, gearing and liquidity influences","volume":"15","author":"Tauringana","year":"2000","journal-title":"Manag. Audit. J."},{"key":"ref_69","doi-asserted-by":"crossref","first-page":"19","DOI":"10.1108\/ARA-06-2013-0043","article-title":"Ownership concentration, family control, and auditor choice: Evidence from an emerging market","volume":"24","author":"Darmadi","year":"2016","journal-title":"Asian Rev. Account."},{"key":"ref_70","first-page":"3","article-title":"Digital Transformation and Performance of Family Enterprise in the Inheritance Period: Empirical Evidence from Text Analysis of Annual Reports of Listed Companies","volume":"37","author":"Yang","year":"2023","journal-title":"East China Econ. Manag."},{"key":"ref_71","doi-asserted-by":"crossref","first-page":"100218","DOI":"10.1016\/j.joitmc.2024.100218","article-title":"The impact of artificial intelligence and Industry 4.0 on transforming accounting and auditing practices","volume":"10","author":"Abdullah","year":"2024","journal-title":"J. Open Innov. Technol. Mark. Complex."},{"key":"ref_72","doi-asserted-by":"crossref","unstructured":"Al Lawati, H., Sanad, Z., and Al Farsi, M. (2024). Unveiling the Influence of Big Data Disclosure on Audit Quality: Evidence from Omani Financial Firms. Adm. Sci., 14.","DOI":"10.3390\/admsci14090216"},{"key":"ref_73","doi-asserted-by":"crossref","first-page":"433","DOI":"10.1108\/JEC-08-2021-0122","article-title":"Entrepreneurial behavior of family firms in the Indian community: Adoption of a technology platform as a moderator","volume":"17","author":"Chatterjee","year":"2023","journal-title":"J. Enterprising Communities"},{"key":"ref_74","first-page":"84","article-title":"Second Generation Involvement, Debt Financing Decision and Corporate Performance\u2014A Model of Moderated Mediator","volume":"43","author":"Liu","year":"2021","journal-title":"J. Shanxi Univ. Financ. Econ."},{"key":"ref_75","doi-asserted-by":"crossref","first-page":"261","DOI":"10.2308\/acch-50714","article-title":"Founding Family Ownership and the Selection of Industry Specialist Audits","volume":"28","author":"Kang","year":"2014","journal-title":"Account. Horiz."},{"key":"ref_76","doi-asserted-by":"crossref","first-page":"100485","DOI":"10.1016\/j.adiac.2020.100485","article-title":"Audit quality indicators: Perspectives from Non-Big Four audit firms and small company audit committees","volume":"50","author":"Harris","year":"2020","journal-title":"Adv. Account."},{"key":"ref_77","doi-asserted-by":"crossref","first-page":"235","DOI":"10.1007\/s11156-006-9430-y","article-title":"The joint determination of audit fees, non-audit fees, and abnormal accruals","volume":"27","author":"Antle","year":"2006","journal-title":"Rev. Quant. Financ. Account."},{"key":"ref_78","doi-asserted-by":"crossref","first-page":"1284","DOI":"10.1111\/1911-3846.12936","article-title":"Audit firm tenure disclosure and nonprofessional investors\u2019 perceptions of auditor independence: The mitigating effect of partner rotation disclosure","volume":"41","author":"Judge","year":"2024","journal-title":"Contemp. Account. Res."},{"key":"ref_79","doi-asserted-by":"crossref","first-page":"2197675","DOI":"10.1080\/23311975.2023.2197675","article-title":"Do audit firm reputation provide insight into financial reporting quality? Evidence from accrual and real management of listed companies in Vietnam","volume":"10","author":"Tran","year":"2023","journal-title":"Cogent Bus. Manag."},{"key":"ref_80","doi-asserted-by":"crossref","first-page":"71","DOI":"10.2308\/ajpt-50533","article-title":"Auditor Choice and Audit Fees in Family Firms: Evidence from the S&P 1500","volume":"32","author":"Ho","year":"2013","journal-title":"Audit. J. Pract. Theory"},{"key":"ref_81","doi-asserted-by":"crossref","first-page":"489","DOI":"10.1108\/RAF-02-2023-0046","article-title":"Audit(or) type and audit quality in emerging markets: Evidence from explicit vs. implicit restatements","volume":"22","author":"Eldyasty","year":"2023","journal-title":"Rev. Account. Financ."},{"key":"ref_82","doi-asserted-by":"crossref","first-page":"841","DOI":"10.1108\/MEDAR-08-2021-1399","article-title":"Audit quality and digitalization: Some insights from the Italian context","volume":"31","author":"Lugli","year":"2023","journal-title":"Meditari Account. Res."},{"key":"ref_83","doi-asserted-by":"crossref","first-page":"3374","DOI":"10.1002\/mde.4202","article-title":"The evolution of the trust relationship between the family and its external advisors throughout generations: A family business perspective","volume":"45","author":"Umans","year":"2024","journal-title":"Manag. Decis. Econ."},{"key":"ref_84","doi-asserted-by":"crossref","first-page":"467","DOI":"10.1108\/IMDS-05-2021-0300","article-title":"Artificial intelligence in business-to-business marketing: A bibliometric analysis of current research status, development and future directions","volume":"121","author":"Han","year":"2021","journal-title":"Ind. Manag. Data Syst."},{"key":"ref_85","doi-asserted-by":"crossref","unstructured":"Lu, W. (2024). Ownership and Business Practice of the Thai Banking Sector After the Asian Financial Crisis: A Case Study of a Family Business. Post-Asian Financial Crisis Reforms in Thailand: A 20 Year Retrospective on the Banking Industry, Springer Nature.","DOI":"10.1007\/978-981-97-3771-0"},{"key":"ref_86","doi-asserted-by":"crossref","first-page":"167","DOI":"10.1016\/j.jacceco.2003.09.005","article-title":"Financial accounting information, organizational complexity and corporate governance systems","volume":"37","author":"Bushman","year":"2004","journal-title":"J. Account. Econ."},{"key":"ref_87","doi-asserted-by":"crossref","first-page":"367","DOI":"10.1111\/1540-8520.t01-1-00015","article-title":"Agency Problems in Large Family Business Groups","volume":"27","author":"Morck","year":"2003","journal-title":"Entrep. Theory Pract."},{"key":"ref_88","doi-asserted-by":"crossref","first-page":"1162","DOI":"10.1177\/10422587241311155","article-title":"Evolution of stewardship across family and business goals: Toward a stewardship transition framework","volume":"49","author":"Ali","year":"2025","journal-title":"Entrep. Theory Pract."},{"key":"ref_89","doi-asserted-by":"crossref","first-page":"20","DOI":"10.2307\/259223","article-title":"Toward a stewardship theory of management","volume":"22","author":"Davis","year":"1997","journal-title":"Acad. Manag. Rev."},{"key":"ref_90","doi-asserted-by":"crossref","first-page":"217","DOI":"10.1108\/JABS-03-2019-0095","article-title":"Business founders and performance of family firms: Evidence from developing countries in Asia","volume":"15","author":"Chow","year":"2021","journal-title":"J. Asia Bus. Stud."},{"key":"ref_91","doi-asserted-by":"crossref","first-page":"845","DOI":"10.1007\/s10551-023-05532-8","article-title":"Transporting audit quality across countries: Returnee CEOs and audit fees","volume":"192","author":"Shan","year":"2024","journal-title":"J. Bus. Ethics"},{"key":"ref_92","doi-asserted-by":"crossref","unstructured":"Klimkeit, D., Wang, P., and Zhang, H. (2024). International Corporate Governance. International Management in Service Firms: Environments, Strategies and Operations, Springer International Publishing.","DOI":"10.1007\/978-3-031-50345-0_11"},{"key":"ref_93","first-page":"106","article-title":"Auditor Industry Expertise and Firm\u2019s Innovation\u2014Analysis based on the perspective of management\u2019s information environment","volume":"37","author":"Li","year":"2021","journal-title":"Audit. Res."},{"key":"ref_94","doi-asserted-by":"crossref","first-page":"33","DOI":"10.1007\/s11187-010-9265-8","article-title":"Entrepreneurial orientation in family firms: A generational perspective","volume":"38","author":"Cruz","year":"2012","journal-title":"Small Bus. Econ."},{"key":"ref_95","doi-asserted-by":"crossref","first-page":"257","DOI":"10.1016\/j.giq.2008.12.003","article-title":"Governance in the digital age: A research and action framework for an uncertain future","volume":"26","author":"Dawes","year":"2009","journal-title":"Gov. Inf. Q."},{"key":"ref_96","doi-asserted-by":"crossref","first-page":"100676","DOI":"10.1016\/j.accinf.2024.100676","article-title":"Emerging digital technologies and auditing firms: Opportunities and challenges","volume":"53","author":"Vitali","year":"2024","journal-title":"Int. J. Account. Inf. Syst."},{"key":"ref_97","doi-asserted-by":"crossref","first-page":"71","DOI":"10.2308\/aud.2003.22.2.71","article-title":"Auditor industry specialization and earnings quality","volume":"22","author":"Balsam","year":"2003","journal-title":"Audit. J. Pract. Theory"},{"key":"ref_98","doi-asserted-by":"crossref","first-page":"115","DOI":"10.2308\/jeta-51730","article-title":"The emergence of artificial intelligence: How automation is changing auditing","volume":"14","author":"Kokina","year":"2017","journal-title":"J. Emerg. Technol. Account."},{"key":"ref_99","doi-asserted-by":"crossref","first-page":"1268","DOI":"10.1108\/JFBM-11-2023-0282","article-title":"Entrepreneurial orientation and socioemotional wealth as enablers of the impact of digital transformation in family firms","volume":"14","author":"Lasio","year":"2024","journal-title":"J. Fam. Bus. Manag."},{"key":"ref_100","doi-asserted-by":"crossref","first-page":"613","DOI":"10.1086\/467051","article-title":"Agency problems, auditing, and the theory of the firm: Some evidence","volume":"26","author":"Watts","year":"1983","journal-title":"J. Law Econ."},{"key":"ref_101","doi-asserted-by":"crossref","first-page":"1248","DOI":"10.1108\/JFBM-02-2023-0027","article-title":"Auditor choice and audit fees through the lens of agency theory: Evidence from Chinese family firms","volume":"13","author":"Rahman","year":"2023","journal-title":"J. Fam. Bus. Manag."},{"key":"ref_102","doi-asserted-by":"crossref","first-page":"139","DOI":"10.2308\/ajpt-50985","article-title":"The relation between managerial ability and audit fees and going concern opinions","volume":"34","author":"Krishnan","year":"2015","journal-title":"Audit. J. Pract. Theory"},{"key":"ref_103","doi-asserted-by":"crossref","first-page":"99","DOI":"10.1287\/orsc.12.2.99.10114","article-title":"Agency Relationships in Family Firms: Theory and Evidence","volume":"12","author":"Schulze","year":"2001","journal-title":"Organ. Sci."},{"key":"ref_104","doi-asserted-by":"crossref","first-page":"1078","DOI":"10.1080\/13504851.2023.2301472","article-title":"Digital infrastructure, external supervision, and corporate collaborative green innovation: Evidence from big data pilot zone policy","volume":"32","author":"Meng","year":"2024","journal-title":"Appl. Econ. Lett."},{"key":"ref_105","doi-asserted-by":"crossref","first-page":"121562","DOI":"10.1016\/j.techfore.2022.121562","article-title":"Analysis of the adoption of emergent technologies for risk management in the era of digital manufacturing","volume":"178","author":"Chowdhury","year":"2022","journal-title":"Technol. Forecast. Soc. Change"},{"key":"ref_106","first-page":"3","article-title":"Internal Controls and Market Reaction to Goodwill Impairment Loss\u2014Empirical Evidence from Chinese Listed Firms","volume":"41","author":"Zhang","year":"2020","journal-title":"Account. Res."},{"key":"ref_107","doi-asserted-by":"crossref","first-page":"1444","DOI":"10.1108\/JKM-05-2023-0451","article-title":"A knowledge-based perspective on transgenerational entrepreneurship: Unveiling knowledge dynamics across generations in family firms","volume":"28","author":"Capolupo","year":"2024","journal-title":"J. Knowl. Manag."},{"key":"ref_108","doi-asserted-by":"crossref","first-page":"21582440241262085","DOI":"10.1177\/21582440241262085","article-title":"The Effects of Trans-generational Conflict on Trans-generational Entrepreneurship Performance from the Perspective of First-generation Entrepreneurs\u2019 Networks: Evidence from China","volume":"14","author":"Guo","year":"2024","journal-title":"SAGE Open"},{"key":"ref_109","doi-asserted-by":"crossref","unstructured":"Xian, H. (2024). Daughters\u2019 succession in Chinese family businesses: An examination of cultural and institutional influences. Women in Family Business, Edward Elgar Publishing.","DOI":"10.4337\/9781802206364.00011"},{"key":"ref_110","doi-asserted-by":"crossref","first-page":"876","DOI":"10.1108\/JFBM-12-2020-0117","article-title":"Human determinants influencing the digital transformation strategy of multigenerational family businesses: A multiple-case study of five French growth-oriented family firms","volume":"12","author":"Ano","year":"2022","journal-title":"J. Fam. Bus. Manag."},{"key":"ref_111","doi-asserted-by":"crossref","first-page":"163","DOI":"10.1016\/j.landusepol.2018.10.004","article-title":"Exploring the adoption of precision agricultural technologies: A cross regional study of EU farmers","volume":"80","author":"Barnes","year":"2019","journal-title":"Land Use Policy"},{"key":"ref_112","doi-asserted-by":"crossref","first-page":"254","DOI":"10.1108\/JFBM-03-2024-0051","article-title":"Directing the future: Artificial intelligence integration in family businesses","volume":"15","author":"Tuncalp","year":"2024","journal-title":"J. Fam. Bus. Manag."},{"key":"ref_113","first-page":"118","article-title":"How dose Family Management Involvement Affect M&A Strategic Behavior: Based on the Empirical Research of Chinese Listed Family Firms","volume":"40","author":"Liang","year":"2022","journal-title":"S. China J. Econ."},{"key":"ref_114","doi-asserted-by":"crossref","first-page":"3574","DOI":"10.1080\/1540496X.2024.2356869","article-title":"Parent-child cogovernance and corporate ESG performance: Evidence from China","volume":"60","author":"Liang","year":"2024","journal-title":"Emerg. Mark. Financ. Trade"},{"key":"ref_115","doi-asserted-by":"crossref","first-page":"1403","DOI":"10.1108\/IJIS-04-2024-0108","article-title":"Conceptual framework of two-generational value creations in family firms","volume":"17","author":"Vahid","year":"2025","journal-title":"Int. J. Innov. Sci."},{"key":"ref_116","doi-asserted-by":"crossref","first-page":"102530","DOI":"10.1016\/j.techsoc.2024.102530","article-title":"The digital governance puzzle: Towards integrative theory of humans, machines, and organizations in public management","volume":"77","author":"Mizrahi","year":"2024","journal-title":"Technol. Soc."},{"key":"ref_117","doi-asserted-by":"crossref","first-page":"643","DOI":"10.1108\/00400911011088962","article-title":"The impact of entrepreneurship education on succession in ethnic minority family firms","volume":"52","author":"Hussain","year":"2010","journal-title":"Educ. Train."},{"key":"ref_118","first-page":"42","article-title":"Returnee Executives and Auditor Choice: The Role of Agency Cost","volume":"3","author":"Zhou","year":"2019","journal-title":"J. Audit Econ."},{"key":"ref_119","doi-asserted-by":"crossref","first-page":"669","DOI":"10.1111\/j.1911-3846.1997.tb00546.x","article-title":"Accounting Consultation Units: An Organizational Memory Analysis","volume":"14","author":"Salterio","year":"1997","journal-title":"Contemp. Account. Res."},{"key":"ref_120","doi-asserted-by":"crossref","first-page":"99","DOI":"10.2308\/aud.2003.22.2.99","article-title":"Management Trade-Offs of Internal Control and External Auditor Expertise","volume":"22","author":"Jensen","year":"2003","journal-title":"Audit. J. Pract. Theory"},{"key":"ref_121","first-page":"82","article-title":"Type of Audit Team Industry Expertise, Audit Fee Premium and Audit Quality","volume":"44","author":"Song","year":"2018","journal-title":"Account. Res."},{"key":"ref_122","doi-asserted-by":"crossref","first-page":"326","DOI":"10.1016\/j.lrp.2018.12.001","article-title":"Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal","volume":"52","author":"Warner","year":"2019","journal-title":"Long Range Plan."},{"key":"ref_123","doi-asserted-by":"crossref","first-page":"35","DOI":"10.1016\/j.ceqi.2023.03.002","article-title":"Digital transformation of commercial banks in China: Measurement, progress and impact","volume":"3","author":"Xie","year":"2023","journal-title":"China Econ. Q. Int."},{"key":"ref_124","first-page":"62","article-title":"Enterprise Digital Transformation and Audit Pricing","volume":"3","author":"Zhang","year":"2021","journal-title":"Audit. Res."},{"key":"ref_125","doi-asserted-by":"crossref","first-page":"2135","DOI":"10.1093\/qje\/qjz021","article-title":"Firm-Level Political Risk: Measurement and Effects","volume":"134","author":"Hassan","year":"2019","journal-title":"Q. J. Econ."},{"key":"ref_126","first-page":"130","article-title":"Enterprise Digital Transformation and Capital Market Performance: Empirical Evidence from Stock Liquidity","volume":"37","author":"Wu","year":"2021","journal-title":"J. Manag. World"},{"key":"ref_127","first-page":"137","article-title":"Digital Transformation and Division of Labor between Enterprises: Vertical Specialization or Vertical Integration","volume":"9","author":"Yuan","year":"2021","journal-title":"China Ind. Econ."},{"key":"ref_128","doi-asserted-by":"crossref","first-page":"37","DOI":"10.2308\/aud.2000.19.s-1.37","article-title":"Voluntary demand for internal and external auditing by family businesses","volume":"19","author":"Carey","year":"2000","journal-title":"Audit. J. Pract. Theory"},{"key":"ref_129","first-page":"471","article-title":"Corporate ownership around the world","volume":"54","author":"Porta","year":"1998","journal-title":"Florencio Lopez-de-Silanes"},{"key":"ref_130","doi-asserted-by":"crossref","first-page":"77","DOI":"10.2308\/JETA-2020-063","article-title":"The impact of digitalization on future audits","volume":"18","author":"Fotoh","year":"2021","journal-title":"J. Emerg. Technol. Account."},{"key":"ref_131","doi-asserted-by":"crossref","first-page":"553","DOI":"10.1108\/MEDAR-10-2023-2187","article-title":"Corporate digital transformation and audit signals: Building trust in the digital age","volume":"33","author":"Huang","year":"2024","journal-title":"Meditari Account. Res."},{"key":"ref_132","doi-asserted-by":"crossref","first-page":"1","DOI":"10.2308\/ajpt-10112","article-title":"Corporate governance research in accounting and auditing: Insights, practice implications, and future research directions","volume":"30","author":"Carcello","year":"2011","journal-title":"Audit. J. Pract. Theory"},{"key":"ref_133","first-page":"97","article-title":"The Effect of audit client assets tangibility on audit risk: An empirical study on nonfinancial firms listed on the EGX","volume":"52","author":"Saleh","year":"2024","journal-title":"Sci. J. Commer. Res."},{"key":"ref_134","doi-asserted-by":"crossref","first-page":"2732","DOI":"10.1080\/1540496X.2024.2330489","article-title":"Enterprise Digital Investment and Auditor Choice: An Empirical Study Based on Chinese Listed Enterprises","volume":"60","author":"Zhang","year":"2024","journal-title":"Emerg. Mark. Financ. Trade"},{"key":"ref_135","doi-asserted-by":"crossref","unstructured":"Stock, J.H., and Yogo, M. (2005). Testing for weak instruments in linear IV regression. Identification and Inference for Econometric Models: Essays in Honor of Thomas Rothenberg, Cambridge University Press.","DOI":"10.1017\/CBO9780511614491.006"},{"key":"ref_136","doi-asserted-by":"crossref","first-page":"800","DOI":"10.1016\/j.jbusres.2020.10.064","article-title":"The role of family firms\u2019 generational heterogeneity in the entry mode choice in foreign markets","volume":"132","author":"Mariotti","year":"2021","journal-title":"J. Bus. Res."},{"key":"ref_137","doi-asserted-by":"crossref","first-page":"603","DOI":"10.1108\/JFBM-06-2023-0076","article-title":"Parental influence on next-generation family members in South African Black-owned family businesses","volume":"14","author":"Ntari","year":"2024","journal-title":"J. Fam. Bus. Manag."},{"key":"ref_138","doi-asserted-by":"crossref","first-page":"204","DOI":"10.1007\/s13132-022-01078-8","article-title":"The impact of intergenerational succession intention on family firm\u2019s innovation strategy: Evidence from China","volume":"15","author":"Song","year":"2024","journal-title":"J. Knowl. Econ."}],"container-title":["Systems"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.mdpi.com\/2079-8954\/14\/1\/108\/pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,1,22]],"date-time":"2026-01-22T05:22:54Z","timestamp":1769059374000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.mdpi.com\/2079-8954\/14\/1\/108"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026,1,20]]},"references-count":138,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2026,1]]}},"alternative-id":["systems14010108"],"URL":"https:\/\/doi.org\/10.3390\/systems14010108","relation":{},"ISSN":["2079-8954"],"issn-type":[{"value":"2079-8954","type":"electronic"}],"subject":[],"published":{"date-parts":[[2026,1,20]]}}}