For FBs, the general role of the non-family CFO and the potential role change of the position
have not yet been analyzed in detail. Moreover, decisive drivers for the CFO’s more
important roles, such as increased shareholder value orientation and short-termism (Zorn,
2004) might not be as present in FBs as in NFBs (Mahto et al., 2010; Lumpkin & Brigham,
2011), which could limit the CFO’s more strategic role in FBs