Promoting Family: A Contingency Model of Family Business Succession

Susanne Royer · Roland H. Simons · Britta Boyd · Alannah E. Rafferty

237 citations0/0 files storedFamily Business Review

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

Abstract

Succession is a challenge to family businesses for a number of reasons, including the need to address the issue of intergenerational handover. This article focuses on one aspect of succession in family business by investigating when family members are preferred as successors. Results from 860 family businesses indicate that specific (tacit) knowledge characteristics combined with a favorable transaction atmosphere, in certain contexts, make a family member the most suitable successor. A conceptual model is presented that outlines when inside-family succession is preferred.

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References

1937The Nature of the Firm 1976Markets and Hierarchies: Analysis and Antitrust Implications.1997The Tacit Dimension 1996Exploring internal stickiness: Impediments to the transfer of best practice within the firm 1985The economic institutions of capitalism firms, markets, relational contracting 1981Theorie des kommunikativen Handelns 1980Markets, Bureaucracies, and Clans 1994“Sticky Information” and the Locus of Problem Solving: Implications for Innovation

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2014The Effect of Organizational Characteristics on the Appointment of Nonfamily Managers in Private Family Firms 2018Perceived Parental Behaviors and Next-Generation Engagement in Family Firms: A Social Cognitive Perspective 2011The Duality of Internal and External Development of Successors: Opportunity Recognition in Family Firms 2011Worlds Apart?2017Intergenerational knowledge sharing in family firms: Case-based evidence from the New Zealand wine industry 2010

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