ENTREPRENEURIAL SUCCESSION, FIRM GROWTH AND PERFORMANCE

John E. Butler, Phillip Phan, Borje O. Saxberg and Soon Hoon Lee
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John E. Butler: Department of Management, The Hong Kong Polytechnic University, Hong Kong, China
Borje O. Saxberg: Department of Management and Organization, University of Washington, USA
Soon Hoon Lee: Lally School of Management and Technology, Rensselaer Polytechnic Institute, USA

Journal of Enterprising Culture (JEC), 2001, vol. 09, issue 04, 407-436

Abstract: This research examines business succession in small firms by presenting and testing a succession outcome decision model that is affected by the impact of family, performance, and strategy. Succession has been seen as an important issue in firms of all sizes, but the issue can be a much more personal one for entrepreneurs. Data were collected from a sample of 294 entrepreneurs using a questionnaire. These entrepreneurs were asked about the likelihood of various succession options, strategy, performance, and issues related to their family.Results indicated that in firms where family members were seen as making a positive impact to the firm's performance, entrepreneurs were more likely to see family member succession as the likely outcome. Historical performance did not have much impact on succession decisions, although expectations of poor future performance made family succession a less likely envisioned outcome.

Date: 2001
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DOI: 10.1142/S0218495801000213

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