Family Businesses and Succession Issues: A Case Study in Greece

Androniki Katarachia () and Leandros Araviadis
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Androniki Katarachia: University of Western Macedonia
Leandros Araviadis: University of Western Macedonia

Chapter Chapter 20 in Advances in Applied Macroeconomics, 2025, pp 393-408 from Springer

Abstract: Abstract Family businesses are not only a special but also important group of businesses. On the one hand, family businesses are an important factor in most economies, and on the other hand, many of the world’s large businesses are also family owned. The existing international literature shows that the key factors in a family business are (a) succession; (b) intracompany and intra-family conflicts between family members; (c) sequence in leadership and finally; and (d) the impact of the previous issues in relation to the strategies followed by a family business. To investigate the issue of family businesses and the succession within them, an empirical research was carried out in a region of Greece. The research, with 50 structured interviews, showed that the lifespan of the family business is several years, while age, gender, and educational level show no correlations with this factor. However, it transpired that the role of the founder of the company is considered decisive for the Greek family business in terms of strategy. The Greek family business does not have a well- defined strategic plan that can inspire all its employees.

Keywords: Family business; Succession; Assessments; Greece (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-76658-9_20

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DOI: 10.1007/978-3-031-76658-9_20

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