Toward an Integrative Model of Effective FOB Succession

Isabelle Le Breton‐Miller · Danny Miller · Lloyd Steier

967 citations0/0 files storedEntrepreneurship Theory and Practice

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Family Business Performance and Succession Entrepreneurship Studies and Influences Human Resource and Talent Management

Abstract

Given that less than 10% of family owned businesses (FOBs) survive into the third generation, the issue of top executive succession has received a good deal of attention. Unfortunately, the literature on the topic is fragmented, as it deals with different parts of the elephant. This synthetic effort tries to put together the pieces to (1) derive a more encompassing model of what it takes for a succession to succeed, (2) determine the trends, consensus findings, as well as the gaps in our conceptual and empirical knowledge, and (3) suggest areas for further research.

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References

1984Upper Echelons: The Organization as a Reflection of Its Top Managers 1984Upper Echelons: The Organization as a Reflection of Its Top Managers 1997Strategic Leadership: Top Executives and Their Effects on Organizations 2001The Succession Process from a Resource- and Knowledge-Based View of the Family Firm 2011Keeping the Family Business Healthy

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2007Stewardship vs. Stagnation: An Empirical Comparison of Small Family and Non‐Family Businesses*2011Family Control and Family Firm Valuation by Family CEOs: The Importance of Intentions for Transgenerational Control 2014Entrepreneurial legacy: Toward a theory of how some family firms nurture transgenerational entrepreneurship 2008Factors Preventing Intra-Family Succession 2011Long–Term Orientation and Intertemporal Choice in Family Firms 2013Goal Setting in Family Firms: Goal Diversity, Social Interactions, and Collective Commitment to Family–Centered Goals 2011From Longevity of Firms to Transgenerational Entrepreneurship of Families 2008On the Emotional Value of Owning a Firm

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