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Examining the Impact of Inherited Succession Identity on Family Firm Performance

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  • Sean Sehyun Yoo
  • Mark T. Schenkel
  • Jaemin Kim

Abstract

The vast majority of research on family firm performance following intergenerational succession draws on either agency or stewardship theory, resulting in conflicting findings and conclusions. In this study, we depart from the mainstream by focusing on how inherited successor identity and its combined influence with successors’ broader socioeconomic context exert impact on intergenerational post‐succession performance. Drawing on social embeddedness perspective, we hypothesize that a non‐first‐son‐based succession identity disproportionately better positions successors to take advantage of the informational exchange relationships and entrepreneurial opportunities, particularly when succession identity interacts with independent outside board members, as well as large blocks of outside shareholders, while simultaneously avoiding the pressures and constraints associated with “family tradition” aspects of the family business system. Data collected from a sample of Korean family firms showed support for this moderation hypothesis. These results suggest the need for more theoretically grounded research on the inherited identity of successors to help draw a more realistic and balanced picture of social dynamics in family firm performance.

Suggested Citation

  • Sean Sehyun Yoo & Mark T. Schenkel & Jaemin Kim, 2014. "Examining the Impact of Inherited Succession Identity on Family Firm Performance," Journal of Small Business Management, Taylor & Francis Journals, vol. 52(2), pages 246-265, April.
  • Handle: RePEc:taf:ujbmxx:v:52:y:2014:i:2:p:246-265
    DOI: 10.1111/jsbm.12098
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    Cited by:

    1. Miruna Radu-Lefebvre & James Davis & William Gartner, 2024. "Legacy in Family Business: A Systematic Literature Review and Future Research Agenda," Post-Print hal-04515862, HAL.
    2. Uchida, Hirofumi & Yamada, Kazuo & Zazzaro, Alberto, 2023. "Management innovations in family firms after CEO successions: Evidence from Japanese SMEs," Japan and the World Economy, Elsevier, vol. 66(C).
    3. Sharifah Azlina Syed Anuar & Noradiva Hamzah & Mohd Mohid Rahmat & Nur Laili Ab Ghani, 2023. "Director’s Identifications to Multiple Identities, Social Groups, and Board Oversight Roles: A Scoping Review," SAGE Open, , vol. 13(3), pages 21582440231, August.

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