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We review and synthesize the existing research on directors' and officers’ (D&O) liability insurance. Our objectives are (1) to examine the institutional forces and regulatory requirements that have influenced the development of D&O liability insurance; (2) to identify the factors that influence firms to purchase D&O liability insurance and explore the consequences associated with its usage and (3) to identify gaps in the current literature and provide recommendations for future research on D&O liability insurance.

We perform a systematic literature review (SLR) using the Preferred Reporting Items for a Systematic Review of Meta-Analysis (PRISMA) guidelines to examine archival studies that investigate the determinants and consequences of D&O liability insurance. Using a Boolean search strategy on the “Web of Science” (WoS) and PRISMA selection criteria, we review 64 published archival research articles and three working papers from 1987 to October 2023.

Our review reveals that disclosing detailed information regarding D&O liability insurance, such as total insurance premiums and coverage limit, is predominantly voluntary, except in Taiwan. Our findings suggest that the decision to purchase D&O liability insurance is influenced by litigation risk, which is determined by factors such as firm size, complexity and corporate governance variables. We also find that D&O liability insurance has implications for financial reporting, audit outcomes, investment behavior and capital market performance.

In the post-COVID era, where firms face pressure due to financial constraints, our research emphasizes the practical importance of carefully considering and understanding the impact of D&O liability insurance, particularly as it concerns the demand for such insurance.

To the best of our knowledge, this study represents the first systematic review of previous research on D&O liability insurance. Our review highlights some research gaps, particularly in relation to the implications for financial reporting practices, auditing outcomes, firm investment behavior and capital market consequences.

This paper aims to describe what baby boomer family business owners in New Zealand perceive the implications of earthquakes on their business and succession planning. The current study focuses on how some businesses have survived significant uncontrollable contingencies, for instance, natural disasters. This paper also documents the insight of what baby boomer family business owners value in their succession planning.

Qualitative method was undertaken, comprising face-to-face in-depth interviews with 18 participants, who are baby boomers family business owners in New Zealand.

Driven by the unique social and political conditions in New Zealand, baby boomer family business owner’s revealed unique mind-sets and motivations that are oriented in their family value and/or the sense of self-fulfillment. As a result, they are able to adapt to uncertainties and reflect on their adaptability. Although approaching their retirement age and survived earthquakes, most interviewees neither have any urgency to establish or execute succession plans nor are they prepared for contingencies. A profitable trade sale has been identified as a preferred exit strategy.

The current study is aimed to fill in the gap of exploring how some baby boomers’ family businesses in New Zealand survived deadly earthquakes and how they approach their own succession planning.

It is hoped that this research will contribute to the well-being of family businesses and be of value to practitioners who provide professional advises for family firms and those who aspire to a career in family businesses. This paper also aims to shed light on the implication of aging population and government policies on family businesses. The findings are, therefore, useful for academics, professional consultants, advisors and regulators.

However, natural disasters, social unrest and many uncontrollable events disrupt business operations and can be viewed as uncontrollable contingencies. Ageing population and generation-based similarities are also common to many countries and communities. Nonetheless, the interdisciplinary research on ageing population is scant in the context of financial planning, management accounting or taxation at the firm level. This paper also calls for more in-depth exploration on the implications of demographical factors on the organisations and their success or demise.

This paper aims to examine the management controls that support (and fail to support) a craft brewery’s servitization journey from start-up, through growth, to maturity. It enriches our understanding of how management controls can facilitate the discovery of a service-identity that provides the foundation for servitization.

Drawing on in-depth interviews, fieldwork and secondary data analyses, this paper reports on a longitudinal case study of a craft brewery. The authors trace the case company’s servitization journey using a service-dominant logic theoretical perspective. This perspective focuses us on how the value of a product is cocreated with customers, rather than being created by the firm and then distributed.

The study found that many management controls emerged at the craft brewery from start-up to maturity. Some management controls supported a goods logic, while others supported a service logic. The findings highlight how people and cultural controls in particular enabled the company to move toward a service logic focused on servitization. These management controls informed the evolution of offerings, structure reconfiguration and resources at the craft brewery necessary to support servitization.

Studying a craft brewery contributes an alternative type of manufacturing context and shows how service-identity features such as craftiness, collectiveness, neolocalism and innovation affect a company’s servitization journey.