Capitals Investment Decision of Malaysian Family Business: From Traditional into Neoliberal Business Entity

Abstract

The purpose of this paper is to explore and understand how accounting is implicated in the neoliberalisation process of the traditional family entity into profit making entity. The researcher draws upon Bourdieu’s notions of capital to frame the study and finally explained the ways of neoliberalism was infused in this transformation process. The study adopts an extended case study approach utilising multiple data collection methods. The data were analysed at both, a macro level where the government has steered the accountability of traditional family towards entrepreneur of the self by institutionalising them under Small and Medium Enterprises (SMEs) and their resulting accountability ramifications were discussed at a micro level. The results, though highly case-specific, indicate that accounting through accountability has become a powerful conduit for the exercise of the neoliberalism reforms by the government and implemented by managerial accountability control over neoliberalised family institutions. The paper also demonstrates that different form of capital plays an important role in transforming the traditional family into a business family. Despite the positive implications of neoliberalised family, the neoliberalism has created managerial accountability conflict in the neoliberalised family.