Succession in family firms: the impact of the transfer of capital
by Judith Hacker; Michael Dowling
International Journal of Entrepreneurship and Small Business (IJESB), Vol. 18, No. 4, 2013

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.

Online publication date: Mon, 30-Sep-2013

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