Work

The influence of family-related factors on the succession process in small and medium-sized family businesses

Year: 2014

Type: article

Abstract: In this study family-related factors that can influence the succession process in small and medium-sized family businesses are empirically investigated. The dependent variable in this study is measured by two underlying dimensions, namely satisfaction with the process and continued profitability of the business. The empirical results indicate that the family-related factors that influence both the aforementioned dimensions are the mutual acceptance of roles, the relationship between the owner-manager and successor, and family harmony. The continued profitability of the business is also influenced by the agreement to continue the business. The existence of family harmony in itself influences the relationship between the owner-manager and successor, the agreement to continue the business, as well as the mutual acceptance of roles. The managerial implications of these empirical findings are discussed and recommendations offered.

Source: South African Journal of Economic and Management Sciences

DOI: 10.4102/sajems.v9i1.1154

Authors: E Venter, C Boshoff

Institution: Nelson Mandela University

Language: English

Topic: Family Business Performance and Succession

Subfield: Organizational Behavior and Human Resource Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: gold

Estimated APC paid: $793