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Entrepreneurial Succession, Firm Growth And Performance

Author

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  • JOHN E. BUTLER

    (Department of Management, The Hong Kong Polytechnic University, Hong Kong, China)

  • PHILLIP H. PHAN

    (Lally School of Management and Technology, Rensselaer Polytechnic Institute, USA)

  • BORJE O. SAXBERG

    (Department of Management and Organization, University of Washington, USA)

  • SOON HOON LEE

    (Lally School of Management and Technology, Rensselaer Polytechnic Institute, USA)

Abstract

This research examines business succession in small firms by presenting and testing a succession outcome decision model that is affected by the impact of family, performance, and strategy. Succession has been seen as an important issue in firms of all sizes, but the issue can be a much more personal one for entrepreneurs. Data were collected from a sample of 294 entrepreneurs using a questionnaire. These entrepreneurs were asked about the likelihood of various succession options, strategy, performance, and issues related to their family.Results indicated that in firms where family members were seen as making a positive impact to the firm's performance, entrepreneurs were more likely to see family member succession as the likely outcome. Historical performance did not have much impact on succession decisions, although expectations of poor future performance made family succession a less likely envisioned outcome.

Suggested Citation

  • John E. Butler & Phillip H. Phan & Borje O. Saxberg & Soon Hoon Lee, 2001. "Entrepreneurial Succession, Firm Growth And Performance," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 9(04), pages 407-436.
    • Handle: RePEc:wsi:jecxxx:v:09:y:2001:i:04:n:s0218495801000213
    DOI: 10.1142/S0218495801000213
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    Cited by:

    1. Leroy, H. & Manigart, S. & Meuleman, M., 2009. "The planned decision to transfer an entrepreneurial company," Vlerick Leuven Gent Management School Working Paper Series 2009-13, Vlerick Leuven Gent Management School.
    2. Eugene Kaciak & Izabela Koladkiewicz & Narongsak (Tek) Thongpapanl & Marta Wojtyra, 0. "The role of social networks in shaping entrepreneurial exit strategies," International Entrepreneurship and Management Journal, Springer, vol. 0, pages 1-37.
    3. Eugene Kaciak & Izabela Koladkiewicz & Narongsak (Tek) Thongpapanl & Marta Wojtyra, 2021. "The role of social networks in shaping entrepreneurial exit strategies," International Entrepreneurship and Management Journal, Springer, vol. 17(4), pages 1619-1655, December.
    4. Florian Kreer & René Mauer & Steffen Strese & Malte Brettel, 2018. "On private equity exits of family firms in the German Mittelstand," Journal of Business Economics, Springer, vol. 88(3), pages 503-529, May.

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