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Parents’ Learning Mechanisms for Family Firm Succession: An Empirical Analysis in Spain through the Lens of the Dynamic Capabilities Approach

Author

Listed:
  • Natalia Martin-Cruz

    (School of Economics and Management, University of Valladolid, 47002 Valladolid, Spain)

  • Ismael Barros Contreras

    (Department of Management and Industry, Universidad Austral de Chile, Puerto Montt 5480000, Chile)

  • Juan Hernangómez Barahona

    (School of Economics and Management, University of Valladolid, 47002 Valladolid, Spain)

  • Héctor Pérez Fernández

    (School of Economics and Management, University of Valladolid, 47002 Valladolid, Spain)

Abstract

Succession is a concern for most family firms. The literature has addressed succession in family firms from different perspectives. However, there are still unaddressed questions concerning the microfoundations of succession, and there is a need to secure a better understanding of the succession process and what role parents play therein. Using the dynamic capabilities approach, we shed light on the influence of parents’ behaviors on successors’ intentions. In particular, the paper pursues a twofold aim; first, to analyze the effect of learning mechanisms that parents deliberately use with their children in the family firm on the succession dynamic capability; and second, to explore the impact of this dynamic capability of successor intention to continue in the family firm. We test the model on a sample of potential successors of family firms in Spain. Using partial least squares (PLS) for a sample of 9146 individuals, we confirm the positive impact of the use of parents’ deliberate learning mechanisms on succession dynamic capability and, in turn, the positive effect of the created succession dynamic capability on the successor’s intention to continue the family firm. Furthermore, we find that perceived self-efficacy fails to have any effect on successor intention.

Suggested Citation

  • Natalia Martin-Cruz & Ismael Barros Contreras & Juan Hernangómez Barahona & Héctor Pérez Fernández, 2020. "Parents’ Learning Mechanisms for Family Firm Succession: An Empirical Analysis in Spain through the Lens of the Dynamic Capabilities Approach," Sustainability, MDPI, vol. 12(19), pages 1-17, October.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:19:p:8220-:d:424213
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    4. Angela Dettori & Michela Floris, 2023. "Improving continuity by simplifying the structure of family firms: a replication study," Management Review Quarterly, Springer, vol. 73(2), pages 635-660, June.

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