Family Business Decision-Making: Factors and Influences on Choosing a Successor

This paper investigates the factors that lead a family business to name a successor for the business, as the succession process often begins with naming a successor. We further separate family businesses into farm and non-farm businesses to compare and contrast the results. The factors used in the probit regression are clustered into three groups: business factors, family factors, and individual factors. Identifying the barriers that family businesses face when naming a successor will help Extension and other small and family business consulting agencies and organizations to formulate a guide to assist families when working through this process.


Issue Date:
2012
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/124272
Total Pages:
46
Series Statement:
Selected Paper
160




 Record created 2017-04-01, last modified 2017-08-26

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