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Inheriting the legacy but not the business: When and where do family nonsuccessors become entrepreneurial?

Author

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  • James G. Combs
  • Peter Jaskiewicz
  • Sabine B. Rau
  • Ridhima Agrawal

Abstract

Entrepreneurship declines precipitously across generations in family firms, except in families that convey an entrepreneurial legacy to successors. However, because an entrepreneurial legacy is imprinted on all children, its impact should extend beyond successors. Inductive analysis of data from 26 nonsuccessor adult children from 13 multigenerational German wineries reveals that whether and where—at the firm, within the family’s portfolio of firms, or elsewhere—such adult children pursue entrepreneurship depends, in addition to having an entrepreneurial legacy, on family cohesiveness and flexibility. Implications are that whereas entrepreneurial legacies affect all children, whether and where children leverage their legacy depends on the business family behind the family firm.

Suggested Citation

  • James G. Combs & Peter Jaskiewicz & Sabine B. Rau & Ridhima Agrawal, 2023. "Inheriting the legacy but not the business: When and where do family nonsuccessors become entrepreneurial?," Journal of Small Business Management, Taylor & Francis Journals, vol. 61(4), pages 1961-1990, July.
    • Handle: RePEc:taf:ujbmxx:v:61:y:2023:i:4:p:1961-1990
    DOI: 10.1080/00472778.2021.1883038
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