M. Dick, E. Wagner, I. Groher, J. Prazakova, J. Svoboda, J. Thaller, M. Vlckova: Artificial Intelligence in the Financial Management of Family Firms: Evidence from the Czech Republic and Austria, International Family Enterprise Research Academy Conference (IFERA 2026), June 9-12, 2026, Naples, Italy.
Family firms often exhibit a less developed financial management, increasing their financial vulnerability. Artificial intelligence (AI) offers substantial potential to enhance financial management through improved forecasting, data processing, and risk detection. Family firms, however, are often skeptical toward AI due to concerns about preserving socioemotional wealth. Building on this theoretical framework, this study investigates whether and under which conditions family firms adopt AI in financial management. Drawing on a survey among companies in two neighboring regions of Austria and the Czech Republic, we analyze differences between family and non-family firms and examine the moderating effects of financial performance hazard, family management, stakeholder ties, and generational age. The study contributes to the socioemotional wealth framework and offers practical guidance for family firms’ AI adoption.