Following the Talent in Entrepreneurial Firms

Steven C. Michael

International Journal of the Economics of Business, 2023, vol. 30, issue 2, 123-138

Abstract: Entrepreneurial firms are often founded by uniquely talented individuals. Given that talent does not always beget talent, succession can be challenging. An analytical model is used to explore dynamic tradeoffs of competence in the choice between an insider and an outsider in the succession of a talented individual. The model is illustrated with an application to family business.

Date: 2023
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DOI: 10.1080/13571516.2023.2205340

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