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Intergenerational ownership succession

Author

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  • Sund, Lars-Göran
  • Melin, Leif
  • Haag, Kajsa

Abstract

This article contributes to the family business succession literature by (1) addressing ownership succession rather than management succession, (2) recommending a combination of legal and psychological perspectives on ownership to advance our understanding and (3) suggesting a preparatory approach to succession. Measuring the success of management succession has mainly been undertaken by assessing outcomes. Learning retrospectively why a succession was (un)successful may deepen our understanding of the process, but it is not particularly helpful to the business in question. We propose an alternative method for ownership succession: a preparatory approach that establishes requirements to fulfill before the succession takes place. These requirements are presented in a model that considers both the legal/financial and the psychological aspects of ownership and are formulated to improve intergenerational ownership succession and the post-succession prosperity of the firm.

Suggested Citation

  • Sund, Lars-Göran & Melin, Leif & Haag, Kajsa, 2015. "Intergenerational ownership succession," Journal of Family Business Strategy, Elsevier, vol. 6(3), pages 166-177.
    • Handle: RePEc:eee:fambus:v:6:y:2015:i:3:p:166-177
    DOI: 10.1016/j.jfbs.2015.07.001
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    References listed on IDEAS

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    2. Lenz Regina & Schormüller Claudia & Glückler Johannes, 2020. "Legitimation strategies in an emerging field: family firm succession consultancy in Germany," ZFW – Advances in Economic Geography, De Gruyter, vol. 64(2), pages 58-73, June.
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    4. Dudek, Michał & Pawłowska, Aleksandra, 2022. "Can succession improve the economic situation of family farms in the short term? Evidence from Poland based on panel data," Land Use Policy, Elsevier, vol. 112(C).
    5. Pérez-López, M. Carmen & Gómez-Miranda, M. Elena & Argente-Linares, Eva & López-Sánchez, Lina, 2018. "The internationalisation of Spanish family firms through business groups: Factors affecting the profitability, and the moderating effect of the family nature of the Spanish business," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 21(1), pages 82-90.

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