Families are about caring and businesses are about money — not a likely formula for a successful partnership. Unfortunately those are the facts and family enterprises around the world have found that planning for these two often-conflicting systems is the key to family harmony and business...

Different types of strategic renewal by the successor are identified: organizational change, innovation, combined actions and no action. The main assumption is that renewal after succession improves SME post-transfer performance compared to no actions taken. Also, successor’s timing of the...