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The Succession in SMEs

In: Economic and Financial Challenges for Balkan and Eastern European Countries

Author

Listed:
  • Lambros Tsourgiannis

    (Public Health and Social Care of Regional District of Xanthi)

  • Giannoula Florou

    (Eastern Macedonia and Thrace Institute of Technology)

  • Michael Nikolaidis

    (Eastern Macedonia and Thrace Institute of Technology)

  • Athanasios Mandilas

    (Eastern Macedonia and Thrace Institute of Technology)

Abstract

This paper aims to explore the business decisions undertaken by the successors of small and medium family enterprises (SMEs) and to identify the factors affecting the succession process. A primary survey was conducted in Autumn of 2017 to 450 SMEs operated in Greece. The main business decisions in which successors of SMEs are involved identified through PCA whilst cluster analysis performed to classify the successors of those enterprises into strategic groups according to the business decisions they make. Discriminant analysis conducted to check cluster predictability. Nonparametric tests performed to investigate the factors affecting the succession in those enterprises as well as to profile each strategic group of successors according to their demographic characteristics and their enterprises’ characteristics. Successors found to be involved in two types of business decisions (a) long-term strategic planning decisions and (b) operational business decisions. Cluster analysis identified two strategic groups of successors: (i) long-term strategic planners and (ii) operational managers. Successor’s designation and type, the age predecessor and successor, are associated with the successor’s business decision. Furthermore, the size of the enterprise, the age of the predecessor, and the age of the successor are some factors that affect the succession of SMEs.

Suggested Citation

  • Lambros Tsourgiannis & Giannoula Florou & Michael Nikolaidis & Athanasios Mandilas, 2020. "The Succession in SMEs," Springer Proceedings in Business and Economics, in: Marietta Janowicz-Lomott & Krzysztof Łyskawa & Persefoni Polychronidou & Anastasios Karasavvoglou (ed.), Economic and Financial Challenges for Balkan and Eastern European Countries, pages 89-99, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-39927-6_6
    DOI: 10.1007/978-3-030-39927-6_6
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