IDEAS home Printed from https://ideas.repec.org/a/eee/fambus/v12y2021i2s187785851730267x.html
   My bibliography  Save this article

The influence of transgenerational succession intentions on the succession planning process: The moderating role of high-quality relationships

Author

Listed:
  • Umans, Ine
  • Lybaert, Nadine
  • Steijvers, Tensie
  • Voordeckers, Wim

Abstract

Socioemotional wealth (SEW) is an important point of reference for decision-making in family firms. This study shows that the SEW dimension of renewing family bonds through dynastic succession is positively related to the level of succession planning in a family firm. However, the link between the intention for transgenerational succession and the existence of such planned processes does not appear to be as straightforward as predicted. Therefore, by drawing on relational systems theory, we argue that high-quality relationships will positively moderate the expected positive effect of the intention for transgenerational succession on the level of succession planning in a family firm. Our results partly confirm this argument.

Suggested Citation

  • Umans, Ine & Lybaert, Nadine & Steijvers, Tensie & Voordeckers, Wim, 2021. "The influence of transgenerational succession intentions on the succession planning process: The moderating role of high-quality relationships," Journal of Family Business Strategy, Elsevier, vol. 12(2).
    • Handle: RePEc:eee:fambus:v:12:y:2021:i:2:s187785851730267x
    DOI: 10.1016/j.jfbs.2018.12.002
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S187785851730267X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jfbs.2018.12.002?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hauck, Jana & Suess-Reyes, Julia & Beck, Susanne & Prügl, Reinhard & Frank, Hermann, 2016. "Measuring socioemotional wealth in family-owned and -managed firms: A validation and short form of the FIBER Scale," Journal of Family Business Strategy, Elsevier, vol. 7(3), pages 133-148.
    2. Michael Carney, 2005. "Corporate Governance and Competitive Advantage in Family–Controlled Firms," Entrepreneurship Theory and Practice, , vol. 29(3), pages 249-265, May.
    3. Britta Boyd & Isabel C. Botero & Tomasz A. Fediuk, 2014. "Incumbent Decisions about Succession Transitions in Family Firms: A Conceptual Model," IJFS, MDPI, vol. 2(4), pages 1-24, November.
    4. Michael Gilding & Sheree Gregory & Barbara Cosson, 2015. "Motives and Outcomes in Family Business Succession Planning," Entrepreneurship Theory and Practice, , vol. 39(2), pages 299-312, March.
    5. Debicki, Bart J. & Kellermanns, Franz W. & Chrisman, James J. & Pearson, Allison W. & Spencer, Barbara A., 2016. "Development of a socioemotional wealth importance (SEWi) scale for family firm research," Journal of Family Business Strategy, Elsevier, vol. 7(1), pages 47-57.
    6. Marshall, James P. & Sorenson, Ritch & Brigham, Keith & Wieling, Elizabeth & Reifman, Alan & Wampler, Richard S., 2006. "The paradox for the family firm CEO: Owner age relationship to succession-related processes and plans," Journal of Business Venturing, Elsevier, vol. 21(3), pages 348-368, May.
    7. Andrea Calabrò & Alessandro Minichilli & Mario Daniele Amore & Marina Brogi, 2018. "The courage to choose! Primogeniture and leadership succession in family firms," Strategic Management Journal, Wiley Blackwell, vol. 39(7), pages 2014-2035, July.
    8. Mitchell, Ronald K. & Morse, Eric A. & Sharma, Pramodita, 2003. "The transacting cognitions of nonfamily employees in the family businesses setting," Journal of Business Venturing, Elsevier, vol. 18(4), pages 533-551, July.
    9. William S. Schulze & Franz W. Kellermanns, 2015. "Reifying Socioemotional Wealth," Entrepreneurship Theory and Practice, , vol. 39(3), pages 447-459, May.
    10. Miruna Radu Lefebvre & Vincent Lefebvre, 2016. "Anticipating intergenerational management transfer of family firms: A typology of next generation’s future leadership projections," Post-Print hal-01257752, HAL.
    11. Memili, Esra & Eddleston, Kimberly A. & Kellermanns, Franz W. & Zellweger, Thomas M. & Barnett, Tim, 2010. "The critical path to family firm success through entrepreneurial risk taking and image," Journal of Family Business Strategy, Elsevier, vol. 1(4), pages 200-209, December.
    12. 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.
    13. Pieter Vandekerkhof & Tensie Steijvers & Walter Hendriks & Wim Voordeckers, 2018. "Socio†Emotional Wealth Separation and Decision†Making Quality in Family Firm TMTs: The Moderating Role of Psychological Safety," Journal of Management Studies, Wiley Blackwell, vol. 55(4), pages 648-676, June.
    14. Dyck, Bruno & Mauws, Michael & Starke, Frederick A. & Mischke, Gary A., 2002. "Passing the baton: The importance of sequence, timing, technique and communication in executive succession," Journal of Business Venturing, Elsevier, vol. 17(2), pages 143-162, March.
    15. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    16. Alessandro Minichilli & Mattias Nordqvist & Guido Corbetta & Mario Daniele Amore, 2014. "CEO Succession Mechanisms, Organizational Context, and Performance: A Socio-Emotional Wealth Perspective on Family-Controlled Firms," Journal of Management Studies, Wiley Blackwell, vol. 51(7), pages 1153-1179, November.
    17. Brambor, Thomas & Clark, William Roberts & Golder, Matt, 2006. "Understanding Interaction Models: Improving Empirical Analyses," Political Analysis, Cambridge University Press, vol. 14(1), pages 63-82, January.
    18. Jody Hoffer Gittell & Rob Seidner & Julian Wimbush, 2010. "A Relational Model of How High-Performance Work Systems Work," Organization Science, INFORMS, vol. 21(2), pages 490-506, April.
    19. Morris, Michael H. & Williams, Roy O. & Allen, Jeffrey A. & Avila, Ramon A., 1997. "Correlates of success in family business transitions," Journal of Business Venturing, Elsevier, vol. 12(5), pages 385-401, September.
    20. Jess H. Chua & James J. Chrisman & Pramodita Sharma, 1999. "Defining the Family Business by Behavior," Entrepreneurship Theory and Practice, , vol. 23(4), pages 19-39, July.
    21. Vanessa M. Strike & Pascual Berrone & Stephen G. Sapp & Lorenzo Congiu, 2015. "A Socioemotional Wealth Approach to CEO Career Horizons in Family Firms," Journal of Management Studies, Wiley Blackwell, vol. 52(4), pages 555-583, June.
    22. Wennberg, Karl & Wiklund, Johan & Hellerstedt, Karin & Nordqvist, Mattias, 2011. "Implications of Intra-Family and External Ownership Transfer Of Family Firms: Short Term and Long Term Performance," Ratio Working Papers 172, The Ratio Institute.
    23. Danny Miller & Isabelle Le Breton–Miller, 2014. "Deconstructing Socioemotional Wealth," Entrepreneurship Theory and Practice, , vol. 38(4), pages 713-720, July.
    24. Sund, Lars-Göran & Melin, Leif & Haag, Kajsa, 2015. "Intergenerational ownership succession," Journal of Family Business Strategy, Elsevier, vol. 6(3), pages 166-177.
    25. Paul Westhead & Marc Cowling, 1998. "Family Firm Research: The Need for a Methodological Rethink," Entrepreneurship Theory and Practice, , vol. 23(1), pages 31-56, October.
    26. Pramodita Sharma & James J. Chrisman & Amy L. Pablo & Jess H. Chua, 2001. "Determinants of Initial Satisfaction with the Succession Process in Family Firms: A Conceptual Model," Entrepreneurship Theory and Practice, , vol. 25(3), pages 17-36, April.
    27. Julia Suess-Reyes, 2017. "Understanding the transgenerational orientation of family businesses: the role of family governance and business family identity," Journal of Business Economics, Springer, vol. 87(6), pages 749-777, August.
    28. Thomas M. Zellweger & Franz W. Kellermanns & James J. Chrisman & Jess H. Chua, 2012. "Family Control and Family Firm Valuation by Family CEOs: The Importance of Intentions for Transgenerational Control," Organization Science, INFORMS, vol. 23(3), pages 851-868, June.
    29. Sharma, Pramodita & Chrisman, James J. & Chua, Jess H., 2003. "Predictors of satisfaction with the succession process in family firms," Journal of Business Venturing, Elsevier, vol. 18(5), pages 667-687, September.
    30. Timothy Mathews & Tim Blumentritt, 2015. "A sequential choice model of family business succession," Small Business Economics, Springer, vol. 45(1), pages 15-37, June.
    31. James J. Chrisman & Jess H. Chua & Allison W. Pearson & Tim Barnett, 2012. "Family Involvement, Family Influence, and Family–Centered Non–Economic Goals in Small Firms," Entrepreneurship Theory and Practice, , vol. 36(2), pages 267-293, March.
    32. Tim Barnett & Rebecca G. Long & Laura E. Marler, 2012. "Vision and Exchange in Intra–Family Succession: Effects on Procedural Justice Climate among Nonfamily Managers," Entrepreneurship Theory and Practice, , vol. 36(6), pages 1207-1225, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cheng-Wen Lee & Hsiao Chuan Chen & Choong Leng Peng & Shu Hui Chen, 2023. "Sustainability of Taiwanese SME Family Businesses in the Succession Decision-Making Agenda," Sustainability, MDPI, vol. 15(2), pages 1-21, January.
    2. Rafee I. Tunde OLAGUNJU & Issa ABDULRAHEEM Ph.D & Zekeri ABU Ph.D & Abdulazeez Alhaji SALAU Ph.D, 2022. "Succession Planning and Sustainability of Family Owned Businesses in Lagos State," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(12), pages 285-291, December.
    3. Ine Umans & Maarten Corten, 2023. "Ownership succession intentions affecting earnings management in private family firms," Small Business Economics, Springer, vol. 61(2), pages 827-842, August.
    4. Calabrò, Andrea & Frank, Hermann & Minichilli, Alessandro & Suess-Reyes, Julia, 2021. "Business families in times of crises: The backbone of family firm resilience and continuity," Journal of Family Business Strategy, Elsevier, vol. 12(2).

    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. Reinhard Prügl & Dinah Isabel Spitzley, 2021. "Responding to Digital Transformation by External Corporate Venturing: An Enterprising Family Identity and Communication Patterns Perspective," Journal of Management Studies, Wiley Blackwell, vol. 58(1), pages 135-164, January.
    2. Kosmidou, Vasiliki & Holt, Daniel T., 2022. "The relationship between family management and performance: A configurational approach in exploring the role of socioemotional wealth and generational stage," Journal of Family Business Strategy, Elsevier, vol. 13(4).
    3. Ine Umans & Nadine Lybaert & Tensie Steijvers & Wim Voordeckers, 2020. "Succession planning in family firms: family governance practices, board of directors, and emotions," Small Business Economics, Springer, vol. 54(1), pages 189-207, January.
    4. Andrea Stübner & Svenja Jarchow, 2023. "Family oblige: the link between CSR and succession intention in small and medium family firms," Journal of Business Economics, Springer, vol. 93(3), pages 389-431, April.
    5. Marta Widz & Nadine Kammerlander, 2023. "Entrepreneurial exit intentions in emerging economies: a neoinstitutional perspective," Small Business Economics, Springer, vol. 60(2), pages 615-638, February.
    6. Cambrea, Domenico Rocco & Ponomareva, Yuliya & Pittino, Daniel & Minichilli, Alessandro, 2022. "Strings attached: Socioemotional wealth mixed gambles in the cash management choices of family firms," Journal of Family Business Strategy, Elsevier, vol. 13(3).
    7. 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).
    8. Dehlen, Tobias & Zellweger, Thomas & Kammerlander, Nadine & Halter, Frank, 2014. "The role of information asymmetry in the choice of entrepreneurial exit routes," Journal of Business Venturing, Elsevier, vol. 29(2), pages 193-209.
    9. Davila, Jessenia & Duran, Patricio & Gómez-Mejía, Luis & Sanchez-Bueno, Maria J., 2023. "Socioemotional wealth and family firm performance: A meta-analytic integration," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    10. Kandade, Kiran & Samara, Georges & Parada, Maria José & Dawson, Alexandra, 2021. "From family successors to successful business leaders: A qualitative study of how high-quality relationships develop in family businesses," Journal of Family Business Strategy, Elsevier, vol. 12(2).
    11. Gerken, Maike & Hülsbeck, Marcel & Ostermann, Thomas & Hack, Andreas, 2022. "Validating the FIBER scale to measure family firm heterogeneity – A replication study with extensions," Journal of Family Business Strategy, Elsevier, vol. 13(4).
    12. Laurie P. Milton, 2008. "Unleashing the Relationship Power of Family Firms: Identity Confirmation as a Catalyst for Performance," Entrepreneurship Theory and Practice, , vol. 32(6), pages 1063-1081, November.
    13. Mattias Nordqvist & Karl Wennberg & Massimo Bau’ & Karin Hellerstedt, 2013. "An entrepreneurial process perspective on succession in family firms," Small Business Economics, Springer, vol. 40(4), pages 1087-1122, May.
    14. Melanie Richards, 2023. "When do Non-financial Goals Benefit Stakeholders? Theorizing on Care and Power in Family Firms," Journal of Business Ethics, Springer, vol. 184(2), pages 333-351, May.
    15. Moreno-Menéndez, Ana M. & Casillas, José C., 2021. "How do family businesses grow? Differences in growth patterns between family and non-family firms," Journal of Family Business Strategy, Elsevier, vol. 12(3).
    16. Jan-Philipp Ahrens & Andrea Calabrò & Jolien Huybrechts & Michael Woywode, 2019. "The Enigma of the Family Successor–Firm Performance Relationship: A Methodological Reflection and Reconciliation Attempt," Entrepreneurship Theory and Practice, , vol. 43(3), pages 437-474, May.
    17. Fries, Alexander & Kammerlander, Nadine & Leitterstorf, Max, 2021. "Leadership Styles and Leadership Behaviors in Family Firms: A Systematic Literature Review," Journal of Family Business Strategy, Elsevier, vol. 12(1).
    18. Laffranchini, Giacomo & Hadjimarcou, John & Kim, Si Hyun, 2022. "The first turnaround response of family firms in a crisis situation," Journal of Family Business Strategy, Elsevier, vol. 13(1).
    19. G. T. Lumpkin & Keith H. Brigham, 2011. "Long–Term Orientation and Intertemporal Choice in Family Firms," Entrepreneurship Theory and Practice, , vol. 35(6), pages 1149-1169, November.
    20. Waldkirch, Matthias, 2020. "Non-family CEOs in family firms: Spotting gaps and challenging assumptions for a future research agenda," Journal of Family Business Strategy, Elsevier, vol. 11(1).

    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:eee:fambus:v:12:y:2021:i:2:s187785851730267x. 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/719791/description#description .

    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.