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The Relationship Between Successor'S Characteristics And Business Practices In Micro And Small Scale Family Enterprises In Nigeria

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Abstract

The study sets out to examine the relationship between successor's characteristics and business practices in micro and small-scale family enterprises, using a survey research design, with a sample size of 150 enterprises drawn from MSEs that are family owned in Lagos and Ogun States of Nigeria. The research instrument was questionnaire with items measured on a fivepoint Likert scale. The data were analyzed using both factor analysis and regression analysis models. The model validity was tested using both Bartlett's test of sphericity and Kaiser-Meyer Olkin (KMO) and the results indicated high level of items factorability, while the result of the factor analysis using the Principal Component Analysis (PCA) after orthogonal rotation of the data extracted two factors and three factors for successor's characteristics and business practices respectively. The Cronbach's index was above 0.7for all sets of data indicating reliability. The result of the test of hypothesis from the regression analysis showed significant relationship between the successors' total characteristics and overall business practices, at t = 9.547 and p = .000. Even though the results showed some cases of no significant relationship between certain set of successor characteristics and certain set of business practices, each set of successor characteristics was however shown to have significant relationship with the business practices in totality, at t = 4.267, p = .000 and t = 3.346, p = .001 for successor entrepreneurial characteristics and successor managerial characteristics respectively. Therefore, in general, the Null hypothesis (H ) was rejected to establish that successors' characteristics have influence on 0 the business practices of their enterprises.

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  • Akpor-Robaro, M. O. M, 2019. "The Relationship Between Successor'S Characteristics And Business Practices In Micro And Small Scale Family Enterprises In Nigeria," Ilorin Journal of Business and Social Sciences, Faculty of Social Sciences, University of Ilorin, vol. 21(1), pages 167-195, September.
    • Handle: RePEc:ris:ilojbs:0051
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    1. Isabelle Le Breton–Miller & Danny Miller & Lloyd P. Steier, 2004. "Toward an Integrative Model of Effective FOB Succession," Entrepreneurship Theory and Practice, , vol. 28(4), pages 305-328, July.
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