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Family Firm Challenges in Intergenerational Wealth Transfer

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  • Jon C. Carr
  • James J. Chrisman
  • Jess H. Chua
  • Lloyd P. Steier

Abstract

Family firm owners accumulate economic and noneconomic wealth that they may wish to transfer to the next generation. Their challenges in doing so include: what, to whom, when, and how to transfer this wealth. The decisions made and actions taken will impact behavior and performance as well as the type and amount of wealth eventually transferred. The articles and commentaries in this special issue address some of these challenges, specifically the what of family firm legacy, the who of willing intra–family successors, and the how of both family and business destabilization and re–stabilization after a major strategic move as illustrated by internationalization.

Suggested Citation

  • Jon C. Carr & James J. Chrisman & Jess H. Chua & Lloyd P. Steier, 2016. "Family Firm Challenges in Intergenerational Wealth Transfer," Entrepreneurship Theory and Practice, , vol. 40(6), pages 1197-1208, November.
    • Handle: RePEc:sae:entthe:v:40:y:2016:i:6:p:1197-1208
    DOI: 10.1111/etap.12240
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    References listed on IDEAS

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    Cited by:

    1. Carolina Lescura de Carvalho Castro Volta & Alex Fernando Borges & Mônica Carvalho Alves Cappelle, 2021. "Succession in Family Business: An Analysis through the Concept of Conatus," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 25(4), pages 200021-2000.
    2. 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.
    3. Arndt Werner & Sabrina Schell & Ljuba Haunschild, 2021. "How does a succession influence investment decisions, credit financing and business performance in small and medium-sized family firms?," International Entrepreneurship and Management Journal, Springer, vol. 17(1), pages 423-446, March.
    4. Vincent Molly & Lorraine M. Uhlaner & Alfredo De Massis & Eddy Laveren, 2019. "Family-centered goals, family board representation, and debt financing," Small Business Economics, Springer, vol. 53(1), pages 269-286, June.
    5. Hafner, Cornelius & Pidun, Ulrich, 2022. "Getting family firm diversification right: A configurational perspective on product and international diversification strategies," Journal of Family Business Strategy, Elsevier, vol. 13(1).
    6. Georgiou, Thoukis & Papasolomou, Ioanna & Vrontis, Demetris & Thrassou, Alkis, 2023. "Market-oriented succession effectiveness in family business – Case-based evidence from Cyprus family-owned wine business," Journal of Business Research, Elsevier, vol. 165(C).
    7. Maarten B.T. de Groot & Oli R. Mihalache & Tom Elfring, 2022. "Toward a Theory of Family Social Capital in Wealthy Transgenerational Enterprise Families," Entrepreneurship Theory and Practice, , vol. 46(1), pages 159-192, January.
    8. Ginesti, Gianluca & Ossorio, Mario & Dawson, Alexandra, 2023. "Family businesses and debt maturity structure: Focusing on family involvement in governance to explain heterogeneity," Journal of Family Business Strategy, Elsevier, vol. 14(2).

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