Title: Family business governance for ensuring a qualified management succession in a family business – how to cope with the increasing amount of management successions in German family businesses
Authors: Marion A. Weissenberger-Eibl, Patrick Spieth
Addresses: Kassel University, Department of Innovation and Technology Management, Nora-Platiel Str. 4, 34109 Kassel, Germany. ' Kassel University, Department of Innovation and Technology Management, Nora-Platiel Str. 4, 34109 Kassel, Germany
Abstract: Family businesses are the fundamental basis of the German medium-sized enterprises. Business succession planning, i.e., transfer of management functions and ownership to one or more family members, gained a significant importance over the last few years. This article aims to analyse the characteristics of the family business succession planning, underlines the significance of family business governance for ensuring the qualified management succession and gives suggestions on how to implement the German Governance Code recommendations in family businesses.
Keywords: family business; company succession; corporate governance; management successions; German Governance Code; Germany; business succession planning.
International Journal of Behavioural Accounting and Finance, 2008 Vol.1 No.1, pp.38 - 50
Published online: 31 Oct 2008 *Full-text access for editors Access for subscribers Purchase this article Comment on this article