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This dissertation was written as part of the MSc in International Accounting, Auditing , and Financial Management at the International Hellenic University.There are numerous papers concerning the biggest economies inside the world, but not many about small stock markets which include the Greek, too . The Greek ownership structure is highly based on family – controlled. So the major shareholder may alienate the minority shareholders. Th is fact has an enormous impact on earnings quality and in performance , too . T he relation between founding family and managerial ownership with earnings quality is investigated in this research, based on earning management . Literature that exists has documented that family ownership structure could reduce the influence to reported income, however , it could provide motivations to control earnings. Taking a sample of listed firms in Greece inside the period of six years, between 2011 and 2016 , the primary goal of this study, is to find out, if Greek companies with family and managerial ownership structure influence earnings quality, that’s measured by two variables (family and managerial ownership) using the discretionary accruals method . In particular, our findings show that earnings management represented by the discretionary accruals are negatively associated with family ownership, while the association between managerial ownership and abnormal accruals is positive. In addition, the outcome also gives a U-shape relation among family ownership and discretionary accruals .