Succession as a Risk Process in the Survival of a Family Business—Case of Slovakia

Boris Rumanko, Zuzana Lušňáková, Monika Moravanská and Mária Šajbidorová
Additional contact information
Boris Rumanko: Faculty of Economics and Management, The Slovak University of Agriculture in Nitra, Tr. A. Hlinku 2, 94976 Nitra, Slovakia
Zuzana Lušňáková: Faculty of Economics and Management, The Slovak University of Agriculture in Nitra, Tr. A. Hlinku 2, 94976 Nitra, Slovakia
Monika Moravanská: Faculty of Economics and Management, The Slovak University of Agriculture in Nitra, Tr. A. Hlinku 2, 94976 Nitra, Slovakia
Mária Šajbidorová: Faculty of Economics and Management, The Slovak University of Agriculture in Nitra, Tr. A. Hlinku 2, 94976 Nitra, Slovakia

JRFM, 2021, vol. 14, issue 10, 1-20

Abstract: Generational transfer is a risky point in the life cycle of any family business, and thus the succession process should not be underestimated. Family businesses in Slovakia began to appear after 1989, and therefore many of them await the process of generational exchange in the coming years. For this reason, research on generational exchange has been limited. The aim of this paper was to evaluate the attitude of the owners of Slovak family businesses to the succession process and to reveal the key factors that positively or negatively affect this process. A semi-structured interview was selected as a tool for data collection, in which 74 family business owners took part. The findings were evaluated by the text mining method and afterwards transferred to a scatter diagram in concepts. Based on the clusters in the scatter plot, we revealed the key factors that the current owners consider to be a risk in successfully managing generational exchange. We found that only 48.64% of owners started the succession process, which proves the importance of solving the problem in Slovakia.

Keywords: family business; generational exchange; owners; succession (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/1911-8074/14/10/458/pdf (application/pdf)
https://www.mdpi.com/1911-8074/14/10/458/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:14:y:2021:i:10:p:458-:d:644256

Access Statistics for this article

JRFM is currently edited by Ms. Chelthy Cheng

More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().