The Paradox for the Family Firm CEO : Owner Age Relationship to Succession-Related Processes and Plans
Many family firms fail to transitionsuccessfully to second and third generations. This study considers theories andmodels of succession planning. Succession planning is examined as attitude andoutcome variables. The study argues that adding demographic (age of the familybusiness owner) and behavioral (conflict management and leadership) variablescan improve existing theoretical frameworks. It was hypothesized that CEO age has direct and indirect influences onsuccession planning. Research is based on survey data from 205 U.S. familybusiness owners. A structural equation model was used to examine relationshipsamong the variables. It was found that older owner age is positively associatedwith the development of formal succession plans. However, increased age is associated with approaches to conflict managementand competitive conflict thatlimit development of formal successionplans. Increased age is negatively associated with cooperative conflict, whichitself is positively associated with the importance of succession planning,which was positively associated with formal succession plans. Although not related to age, it was found that autocratic and relationalleadership were positively related to the importance of succession planning.Overall, results indicate that both demographic and behavioral variables affectthe extent of succession planning and should be included in succession models.Concludes with practical applications for practitioners for promotingsuccession planning in family businesses. (TNM)
Year of publication: |
2009
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Authors: | Marshall, James P. ; Sorenson, Ritch ; Brigham, Keith ; Wieling, Elizabeth ; Reifman, Alan |
Publisher: |
[S.l.] : SSRN |
Description of contents: | Abstract [papers.ssrn.com] |
Saved in:
Extent: | 1 Online-Ressource |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | In: Journal of Business Venturing, Vol. 21, Issue 3, p. 348-368 2006 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2006 erstellt Volltext nicht verfügbar |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10014201254
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