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Issues in Career Choices of Successors in Family Businesses: Perspective from Literature Review

Rajiv Agarwal, Arya Kumar and Keith D'Souza
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Rajiv Agarwal: S.P. Jain Institute of Management and Research, India
Arya Kumar: Birla Institute of Technology and Science, India
Keith D'Souza: S.P. Jain Institute of Management and Research, India

Journal of Applied Management and Investments, 2016, vol. 5, issue 1, 1-19

Abstract: Successors play a critical role in the future of family businesses, to either grow, maintain or sometimes even wind them up. Succession depends upon multiple factors including intent of the successor and the reasons for the successor to join the family business. This paper attempts to undertake a detailed literature review on succession in family managed businesses. The rationale for joining family businesses is examined around succession as a process, analysis at multiple unit levels, the role of the founders and other members, the phases of succession, geographic, economic and demographic factors. The objective is to identify the issues in career choices and the gaps that exist in research particularly with reference to Indian economy.

Keywords: family firm; succession; career; ownership; incumbent (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:ods:journl:v:5:y:2016:i:1:p:1-19