Family Business Decision-Making: Factors and Influences on Choosing a Successor

Renee D. Foltz and Maria Marshall

No 124272, 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington from Agricultural and Applied Economics Association

Abstract: This paper investigates the factors that lead a family business to name a successor for the business, as the succession process often begins with naming a successor. We further separate family businesses into farm and non-farm businesses to compare and contrast the results. The factors used in the probit regression are clustered into three groups: business factors, family factors, and individual factors. Identifying the barriers that family businesses face when naming a successor will help Extension and other small and family business consulting agencies and organizations to formulate a guide to assist families when working through this process.

Keywords: Agribusiness; Consumer/Household Economics; Farm Management (search for similar items in EconPapers)
Pages: 46
Date: 2012
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea12:124272

DOI: 10.22004/ag.econ.124272

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