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Reducing the Hindering Forces in Intra-Family Business Succession

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Listed:
  • George S. Vozikis
  • Eric W. Liguori
  • Brian Gibson
  • K. M. Weaver

Abstract

The majority of research has focused on how families can best prepare to hand the family business to the next generation and concentrated mainly on factors that facilitate succession. However, very few studies attempted to discover a set of factors that may inhibit and prevent intra-family succession. In this study we develop research propositions regarding the impact of the antecedent issues inhibiting the critical success factors for effectiveness and satisfaction with an intra-family successful succession. It is hoped that the conceptual framework advanced in this study and further empirical work will give us a much better understanding of the various issues that inhibit and possibly prevent intra-family succession such as, the process issue of identity confirmation; the individual issue of the owner’s age; the relation issue of the family firm’s degree of formalization; the context issue of outside options for potential successors and; the financial issues of low capital stock and variability of earnings.

Suggested Citation

  • George S. Vozikis & Eric W. Liguori & Brian Gibson & K. M. Weaver, 2012. "Reducing the Hindering Forces in Intra-Family Business Succession," American Journal of Economics and Business Administration, Science Publications, vol. 4(1), pages 94-104, March.
    • Handle: RePEc:abk:jajeba:ajebasp.2012.94.104
    DOI: 10.3844/ajebasp.2012.94.104
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    References listed on IDEAS

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    1. Ashok Mishra & Hisham El-Osta, 2008. "Effect of agricultural policy on succession decisions of farm households," Review of Economics of the Household, Springer, vol. 6(3), pages 285-307, September.
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    3. Marshall, James P. & Sorenson, Ritch & Brigham, Keith & Wieling, Elizabeth & Reifman, Alan & Wampler, Richard S., 2006. "The paradox for the family firm CEO: Owner age relationship to succession-related processes and plans," Journal of Business Venturing, Elsevier, vol. 21(3), pages 348-368, May.
    4. Peter S. Davis & Paula D. Harveston, 1998. "The Influence of Family on the Family Business Succession Process: a Multi-Generational Perspective," Entrepreneurship Theory and Practice, , vol. 22(3), pages 31-53, April.
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    6. M. F. R. Kets De Vries, 1977. "The Entrepreneurial Personality: A Person At The Crossroads," Journal of Management Studies, Wiley Blackwell, vol. 14(1), pages 34-57, March.
    7. Laurie P. Milton, 2008. "Unleashing the Relationship Power of Family Firms: Identity Confirmation as a Catalyst for Performance," Entrepreneurship Theory and Practice, , vol. 32(6), pages 1063-1081, November.
    8. Morris, Michael H. & Williams, Roy O. & Allen, Jeffrey A. & Avila, Ramon A., 1997. "Correlates of success in family business transitions," Journal of Business Venturing, Elsevier, vol. 12(5), pages 385-401, September.
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    Cited by:

    1. James R. Hines & Niklas Potrafke & Marina Riem & Christoph Schinke, 2019. "Inter vivos transfers of ownership in family firms," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 26(2), pages 225-256, April.

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