IDEAS home Printed from https://ideas.repec.org/a/vrs/jecman/v45y2023i1p345-373n5.html
   My bibliography  Save this article

Theory and practice of the evolutionary networks of potential in a family business succession

Author

Listed:
  • Mikoláš Zdeněk

    (Faculty of the College of Entrepreneurship and Law Pan-European University, Ostrava, The Czech Republic)

  • Matejun Marek

    (Department of Entrepreneurship and Industrial Policy Faculty of Management, University of Lodz, Lodz, Poland)

Abstract

Aim/purpose – This paper aims to introduce and describe a new paradigm (model) of evolutionary dynamism of family business potential in the succession process and its empirical simulation in family enterprises from culturally close “post-socialistic” countries: the Czech Republic and Poland. Design/methodology/approach – The conceptual basis for developing the evolutionary model of family business was our research on the sample of 235 small and medium-sized family enterprises from the Czech Republic and Poland. A practical experimental simulation of the model was carried out in 12 Czech and 19 Polish family companies. Findings – The proposed model is based on economic and natural laws, including optimization proportions of the golden ratio, laws of time economics, theory of innovation, and “Moore’s law.” This model allows us to simulate and analyze the pace of accelerating innovation cycles and the dynamism of intergenerational changes of family business potential in the succession process. Research implications/limitations – The social and industrial revolution 5.0 is getting near and global economic, social, cultural, ecological, and other contemporary turbulences, built on the “microcosm optimization” of living matter, having two extreme marginal variants for the subsequent (evolutionary) development of family business: (a) an option of “harmony” or (b) an option of “tragedy.” One limitation of the model is its general nature, making it sensitive to outlier cases. Originality/value/contribution – The proposed model provides valuable analytical guidelines for family business succession and significantly highlights the role of intrafamily dynamics in this process. It also represents a novel analytical approach to assessing and predicting the longevity of family business as well as an opportunity for the development of mixed research in family entrepreneurship.

Suggested Citation

  • Mikoláš Zdeněk & Matejun Marek, 2023. "Theory and practice of the evolutionary networks of potential in a family business succession," Journal of Economics and Management, Sciendo, vol. 45(1), pages 345-373, January.
    • Handle: RePEc:vrs:jecman:v:45:y:2023:i:1:p:345-373:n:5
    DOI: 10.22367/jem.2023.45.14
    as

    Download full text from publisher

    File URL: https://doi.org/10.22367/jem.2023.45.14
    Download Restriction: no
    File URL: https://libkey.io/10.22367/jem.2023.45.14?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Tessa Conroy & Sarah A. Low, 2022. "Opportunity, necessity, and no one in the middle: A closer look at small, rural, and female‐led entrepreneurship in the United States," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 44(1), pages 162-196, March.
    2. Jahmurataj, Veton & Ramadani, Veland & Bexheti, Abdylmenaf & Rexhepi, Gadaf & Abazi-Alili, Hyrije & Krasniqi, Besnik A., 2023. "Unveiling the determining factors of family business longevity: Evidence from Kosovo," Journal of Business Research, Elsevier, vol. 159(C).
    3. John F. LeCounte, 2022. "Founder-CEOs: Succession planning for the success, growth, and legacy of family firms," Journal of Small Business Management, Taylor & Francis Journals, vol. 60(3), pages 616-633, May.
    4. Ivan Miroshnychenko & Alfredo De Massis & Danny Miller & Roberto Barontini, 2021. "Family Business Growth Around the World," Entrepreneurship Theory and Practice, , vol. 45(4), pages 682-708, July.
    5. AL Kayid, Wejdan & Jin, Zhongqi & Priporas, Constantinos-Vasilios & Ramakrishnan, Sumeetra, 2022. "Defining family business efficacy: An exploratory study," Journal of Business Research, Elsevier, vol. 141(C), pages 713-725.
    6. Ralph I. Williams & Torsten M. Pieper & Franz W. Kellermanns & Joseph H. Astrachan, 2019. "Family business goal formation: a literature review and discussion of alternative algorithms," Management Review Quarterly, Springer, vol. 69(3), pages 329-349, September.
    7. Paul, Justin & Alhassan, Ibrahim & Binsaif, Nasser & Singh, Prakash, 2023. "Digital entrepreneurship research: A systematic review," Journal of Business Research, Elsevier, vol. 156(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jessenia Davila & Luis Gomez-Mejia & Geoff Martin, 2024. "Family Firms and Employee Pension Underfunding: Good Corporate Citizens or Unethical Opportunists?," Journal of Business Ethics, Springer, vol. 192(2), pages 323-339, June.
    2. Geng Niu & Yi Wang & Yang Zhou & Xu Gan, 2024. "Family ties and corporate tax avoidance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(8), pages 976-996, October.
    3. Gala, Kaushik & Schwab, Andreas & Mueller, Brandon A., 2024. "Star entrepreneurs on digital platforms: Heavy-tailed performance distributions and their generative mechanisms," Journal of Business Venturing, Elsevier, vol. 39(1).
    4. 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.
    5. Pearce, Craig L. & Houghton, Jeffrey D. & Manz, Charles C. & Dillon, Pamela J. & Fugate, Mel & Wassenaar, Christina L., 2023. "Time for a group hug? Toward a theory of shared emotional leadership in and of family business," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    6. Xuan Wang & Wei Sun, 2024. "Aspiration performance gap, second generation involvement in management, and family Firms' environmental responsibility," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 8508-8525, December.
    7. Zeyu Li & Mazlina Mustapha & Ahmad Fahmi Sheikh Hassan & Saidatunur Fauzi Saidin, 2024. "Sustainable Development of Chinese Family Businesses: Exploring the Role of Succession Planning in Maintaining Organizational Sustainability from the Perspective of Socioemotional Wealth," Sustainability, MDPI, vol. 16(8), pages 1-17, April.
    8. Haider, Zulfiquer & Wang, Yefeng & Wang, Yuan, 2024. "Family firm, financial constraint, and environmental preparedness: An international study," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 92(C).
    9. Maria Elisavet Balta & Thanos Papadopoulos & Konstantina Spanaki, 2024. "Business model pivoting and digital technologies in turbulent environments," Post-Print hal-04513406, HAL.
    10. Borsuk, Marcin & Eugster, Nicolas & Klein, Paul-Olivier & Kowalewski, Oskar, 2024. "Family firms and carbon emissions," Journal of Corporate Finance, Elsevier, vol. 89(C).
    11. Fuad, Mohammad & Thakur, Vinod & Pattnaik, Chinmay & Jain, Rajesh, 2024. "Family firms and the mixed gamble perspective in cross-border acquisitions: A study of Indian firms," International Business Review, Elsevier, vol. 33(1).
    12. Basco, Rodrigo & Hair, Joseph F. & Ringle, Christian M. & Sarstedt, Marko, 2022. "Advancing family business research through modeling nonlinear relationships: Comparing PLS-SEM and multiple regression," Journal of Family Business Strategy, Elsevier, vol. 13(3).
    13. Henrekson, Magnus & Johansson, Dan, 2025. "Neo-Schumpeterian Growth Theory: Missing Entrepreneurs Results in Incomplete Policy Advice," Working Paper Series 1514, Research Institute of Industrial Economics.
    14. Mohamed Aboelmaged & Ifzal Ahmad & Gharib Hashem & Saadat M. Alhashmi, 2024. "Unleashing the Power of Knowledge in Family Business: Exploring New Horizons and Untapped Potential for Research and Practice," SAGE Open, , vol. 14(3), pages 21582440241, July.
    15. Phuong Ngoc-Duy Nguyen & Huan Hong Nguyen, 2024. "Examining the Role of Family in Shaping Digital Entrepreneurial Intentions in Emerging Markets," SAGE Open, , vol. 14(1), pages 21582440241, March.
    16. Stefano Amato & Rodrigo Basco & Nicola Lattanzi, 2022. "Contextualizing employment outcomes in family business research: current findings and future research avenues," Management Review Quarterly, Springer, vol. 72(2), pages 531-604, June.
    17. 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).
    18. Chen, Shihui & Wu, Bingde & Liao, Zhongju & Chen, Ling, 2022. "Does familial decision control affect the entrepreneurial orientation of family firms? The moderating role of family relationships," Journal of Business Research, Elsevier, vol. 152(C), pages 60-69.
    19. Fernandez, Viviana, 2023. "Family entrepreneurship around the world," International Review of Financial Analysis, Elsevier, vol. 89(C).
    20. Tiberius, Victor & Stiller, Laura & Dabić, Marina, 2021. "Sustainability beyond economic prosperity: Social microfoundations of dynamic capabilities in family businesses," Technological Forecasting and Social Change, Elsevier, vol. 173(C).

    More about this item

    Keywords

    Family entrepreneurship; family business; succession; innovation; potential;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • P47 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Performance and Prospects

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:jecman:v:45:y:2023:i:1:p:345-373:n:5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.