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Development and Selection of Successors in Family Firms : Evidence from Bulgaria

Author

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  • Desislava Yordanova

    (Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski)

Abstract

Family business literature has devoted significant attentions on the development and selection of successors. However, most empirical research on this topic has been conducted in Western countries. This study is an attempt to explore the development and selection of successors in a sample of 51 Bulgarian family businesses. The paper presents empirical evidence about successor’s nurturing and development activities, the importance of various attributes for successor’s selection, the importance of acquiring tacit knowledge about various aspects of the family business, the presence of explicit selection criteria, and the participants in the selection process. The paper concludes with directions for future research and practical implications of the findings.

Suggested Citation

  • Desislava Yordanova, 2012. "Development and Selection of Successors in Family Firms : Evidence from Bulgaria," Yearbook of the Faculty of Economics and Business Administration, Sofia University, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria, vol. 10(1), pages 91-103, March.
    • Handle: RePEc:sko:yrbook:v:10:y:2012:i:1:p:91-103
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    More about this item

    Keywords

    succession; development; selection; Bulgaria.;
    All these keywords.

    JEL classification:

    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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