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Heroes of the Green Room – How able successors revitalize and reinvent family firms

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  • Baris Istipliler
  • Jan-Philipp Ahrens
  • Annegret Hauer
  • Dennis Steininger
  • Michael Woywode

Abstract

Drawing on contingency and upper echelon theories, this study conceptualizes family firm CEO succession as a special window of opportunity for the new generation to reinvent and rejuvenate the firm and restore the environment-organization fit that had often deteriorated pre-succession. We argue that CEO-related human capital enables successors to identify and amend misfits, allowing them to re-chart an organization’s course to enhanced performance, especially when the misfit is marked by a turnaround situation. Based on a quantitative analysis of 804 German firms and 31 qualitative interviews, we find support for these coherences and contribute to contingency and upper echelon theories.

Suggested Citation

  • Baris Istipliler & Jan-Philipp Ahrens & Annegret Hauer & Dennis Steininger & Michael Woywode, 2024. "Heroes of the Green Room – How able successors revitalize and reinvent family firms," Journal of Small Business Management, Taylor & Francis Journals, vol. 62(3), pages 1604-1651, May.
    • Handle: RePEc:taf:ujbmxx:v:62:y:2024:i:3:p:1604-1651
    DOI: 10.1080/00472778.2022.2161554
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