Int. J. of Entrepreneurship and Small Business   »   2013 Vol.18, No.4

 

 

Title: Succession in family firms: the impact of the transfer of capital

 

Authors: Judith Hacker; Michael Dowling

 

Addresses:
Innovation and Technology Management, University of Regensburg, 93040 Regensburg, Germany
Innovation and Technology Management, University of Regensburg, 93040 Regensburg, Germany

 

Abstract: In family firms, the transfer of ownership to one or several heirs who are also family members can be a difficult issue. In this study, using a sample of 152 German family firms, we investigated whether different forms of ownership transfer have distinct characteristics. Although we found no indication of successors having a worse relationship if unequal shares are transferred, we found that majority and minority shares are seen as a sign of less equal treatment. Furthermore, we found that if only one person receives company shares, the succession occurs earlier and the succession process is also shorter.

 

Keywords: family firms; ownership transfer; transfer of capital; succession process; family firm successors; Germany; entrepreneurship; majority shares; minority shares; equal treatment; equality.

 

DOI: 10.1504/IJESB.2013.053481

 

Int. J. of Entrepreneurship and Small Business, 2013 Vol.18, No.4, pp.428 - 442

 

Available online: 26 Apr 2013

 

 

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