Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria

Kenneth Chukwujioke Agbim ()
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Kenneth Chukwujioke Agbim: Department of Management, University of Nigeria, Enugu, Nigeria (doctoral candidate)

International Entrepreneurship Review, 2019, vol. 5, issue 2, 53-73

Abstract: Objective: This study seeks to determine the contributory factors to successful succession and post-succession performance. And the role of these factors in the post-succession financial and non-financial performance of family-owned SMEs in South Eastern Nigeria.Research Design & Methods: The adopted quantitative methodology is interview. In each of the purposively selected 25 family-owned SMEs, the incumbent, a sibling of the incumbent and a top level manager were interviewed. In all, 75 respondents were interviewed. The transcribed interviews were subjected to thematic content analysis.Findings: The contributory factors to successful succession are the characteristics of succession planning, the incumbent, the potential successor, and the family-owned SME. The factors that contribute to the post-succession performance are the culture of making succession planning a continuous process, and the characteristics of the incumbent and the family-owned SME. These factors ensure that children of the incumbent in the SME become more active so as to be selected as potential successors.Contribution & Value Added: The study identified the contributory factors to successful succession and post-succession performance of the family-owned SMEs. To achieve successful succession and post-succession performance, the incumbents should inculcate the characteristics of these factors into their potential successors. Also, these characteristics should be made part of the culture of the family-owned SMEs.

Keywords: Family-Owned SMEs; Successful Succession; Post-Succession; Financial Performance; Non-Financial Performance (search for similar items in EconPapers)
JEL-codes: D19 J12 L25 M13 (search for similar items in EconPapers)
Date: 2019
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