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Family firm succession: Lessons from failures in external party takeovers

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  • Meier, Olivier
  • Schier, Guillaume

Abstract

This article focuses on the role of cognitive biases in failed external party takeovers. Our central issue is to understand how and to what extent external acquirers’ cognitive biases could lead to managerial errors in small- and medium-sized external party takeovers. Our sample comprises five failed takeovers. We used narrative techniques and an interpretative approach through in-depth qualitative interviews conducted with both sellers and acquirers. Our study allows us to identify five common managerial errors that are associated with external acquirers’ cognitive biases.

Suggested Citation

  • Meier, Olivier & Schier, Guillaume, 2014. "Family firm succession: Lessons from failures in external party takeovers," Journal of Family Business Strategy, Elsevier, vol. 5(4), pages 372-383.
    • Handle: RePEc:eee:fambus:v:5:y:2014:i:4:p:372-383
    DOI: 10.1016/j.jfbs.2014.05.001
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    5. Aleš Kubíček & Ondřej Machek, 2019. "Gender-related factors in family business succession: a systematic literature review," Review of Managerial Science, Springer, vol. 13(5), pages 963-1002, November.

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