Family Business Succession and Post Succession Performance: Evidence from Thai SMEs

Management Succession in Family-owned SMEs: Learning from Failure

Succession is acknowledged to be especially critical in small organizations, as it is estimated that in the EU alone there is a risk of losing 150,000 firms due to transfer problems and only one third of family businesses “survive” their founder. As the vast majority of firms are in fact family businesses and SMEs, the economic impact of these unsuccessful successions is great. There exists a s...

Intergenerational Succession on Family Farms: Evidence from Survey Data

This study examines family farms and characteristics affecting farm succession. Based on a farm survey, three aspects of succession are analysed in the paper: the probability of family succession; the likelihood of having a successor designated; and the timing of succession. Large and specialised farms are more likely to be transferred within the family and to have appointed a successor. The nu...

Succession Planning in SMEs: An Empirical Analysis

Understanding Small Family Business Succession in a Knowledge Management Perspective

Business succession in family firms has been one of the most investigated topics through theoretical, empirical and anecdotal studies (Brockhaus, 2004; Sharma, 2004; and Ward, 2004). However, we argue that this bulk of literature seems to neglect the role of the most intangible source of competitive advantage of firms: knowledge. At the same time, small family firms, although representing most ...

Firm Performance, Entrenchment and Managerial Succession in Family Firms

This paper investigates whether the family status of a company’s top officer affects managerial replacement decisions in UK firms. We report evidence that family firms are characterized by higher levels of board control and weak internal governance in the form of independent company board structures. Consistent with a managerial entrenchment hypothesis, we find evidence that family CEOs are les...