The economic context, the organizational context, the family context, and the succession plan: its influence on the successful succession of family firms
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Universidad de La Rioja
info
Publisher: European Academic Publishers
ISBN: 978-84-09-04503-6
Year of publication: 2018
Pages: 290-302
Congress: XXVII International conference of the AEDEM. Local Entrepreneurship and globalisation. Bucharest, 4-5 September 2018
Type: Conference paper
Abstract
The main objective of our work is to propose an integrative model that providesbetter understanding of what the main variables are that condition successfulsuccession in family-owned firms y what the relative importance is of eachvariable. Specifically, we reflect on how the economic context, theorganizational context, the family context, and the succession plan can helpunderstand the degree of success in the succession process. Our model isbased on the idea that this process must take into account both the financialaspects as well as the preservation of the socioemotional wealth of the familybusiness: the non-financial aspects that meet the family's affective needs forbelonging, affection or trust, the spirit of helpfulness or the awareness of thewell-being of others.