Factors influencing family business succession

Factors influencing family business succession Classifies controllable or internal factors influencing family business transitions into three groups: preparation level of the heirs, family relationships, and planning and control activities. To assess the impact of each set of factors on the ease of generational transitions and subsequent family business performance, a cross‐sectional survey was directed at owner/ managers of second‐ and third‐generation family businesses. Suggests that, in successful transitions, heirs are reasonably well‐prepared, family relationships tend to be positive, and succession planning and related control activities are relatively informal. Of these three, trust and communication in family relationships appears to have the most significant impact on transitions. Draws managerial implications and makes suggestions for ongoing research. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Entrepreneurial Behaviour & Research Emerald Publishing

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Publisher
Emerald Publishing
Copyright
Copyright © 1996 MCB UP Ltd. All rights reserved.
ISSN
1355-2554
DOI
10.1108/13552559610153261
Publisher site
See Article on Publisher Site

Abstract

Classifies controllable or internal factors influencing family business transitions into three groups: preparation level of the heirs, family relationships, and planning and control activities. To assess the impact of each set of factors on the ease of generational transitions and subsequent family business performance, a cross‐sectional survey was directed at owner/ managers of second‐ and third‐generation family businesses. Suggests that, in successful transitions, heirs are reasonably well‐prepared, family relationships tend to be positive, and succession planning and related control activities are relatively informal. Of these three, trust and communication in family relationships appears to have the most significant impact on transitions. Draws managerial implications and makes suggestions for ongoing research.

Journal

International Journal of Entrepreneurial Behaviour & ResearchEmerald Publishing

Published: Dec 1, 1996

Keywords: Family firms; Succession planning

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