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Family business succession and the impact of CEO experience on the growth of small family firms

Author

Listed:
  • Eddy Laveren
  • David Helleboogh
  • Vincent Molly
  • Arthur Limere

Abstract

The studies on the relationship between the depth of the entrepreneur's experience and firm growth shows inconsistent and inconclusive results. A comprehensive understanding of this matter is especially valuable in the context of family business successions, given that many companies seem to be unsuccessful in conquering the difficulties surrounding a succession. The reason is the fact that successors often lack experience when taking over the company. Based on a sample of 511 small family firms, our results suggest a positive and curvilinear effect of CEO experience on firm performance. Experience is contributive to the growth in value added up to a certain number of years that the CEO is in a CEO position, after which it becomes counterproductive. Firms with CEOs currently holding multiple directorships are also found to generate significantly higher performance levels and that growth rates appear to lessen according to the age of the CEO.

Suggested Citation

  • Eddy Laveren & David Helleboogh & Vincent Molly & Arthur Limere, 2010. "Family business succession and the impact of CEO experience on the growth of small family firms," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 11(3), pages 242-262.
    • Handle: RePEc:ids:ijesbu:v:11:y:2010:i:3:p:242-262
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    Cited by:

    1. John Mutenyo & Margaret Banga & John Bbale Mayanja & Rose Nakimu & Ruth Nsibirano & Dorothy Massa & Lawrence Kalyowa, 2023. "Determinants of Enterprise Performance in Uganda’s Tourism Sector: Does Gender Matter?," International Journal of Business and Management, Canadian Center of Science and Education, vol. 16(10), pages 1-63, February.
    2. Shikha Bhardwaj & Sumedha Chauhan & Parul Gupta, 2023. "CEO Succession in Family Firm: An Integrated Framework and Future Research Insights," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 32(3), pages 667-699, November.

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