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      Internal and external successions in family firms: a meta-analysis

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      Journal of Family Business Management
      Emerald

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          Abstract

          Purpose

          Despite much progress in the field of family business research, there is still no unequivocal quantitative evidence on how many family businesses are generally transferred within the family and how many are sold to nonfamily members. Accordingly, the purpose of our paper is to overcome this data problem and to try to get a better estimate of these rates.

          Design/methodology/approach

          To determine a better estimate of intrafamily successions in Germany, we conducted a meta-analysis of 33 samples from 27 studies covering 75,522 firms facing or having already faced a business transfer.

          Findings

          Our results indicate that 62% of these family firms are (planned to be) transferred to family members. This type of industry strongly determines the mode of succession. However, methodological issues like study quality and sample design also influence estimated succession rates.

          Practical implications

          Policymakers need robust statistics so they can base their actions and economic policies on reliable information. However, in the absence of official statistics – as in the case of family firms handing over their company within or outside the family – information is difficult to generate. Our findings provide a generalizable estimate of prevalence rates, providing German policymakers, and those in other countries when applying these methods, with useful information.

          Originality/value

          This paper suggests that a theory of family firm succession needs to consider more deeply the context in which succession decisions occur. By exploring variables affecting succession rates such as firm size and industry but also methodological issues like sample design and study quality, our analysis also provides a better understanding of central determinants of successions within and outside the family.

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          Most cited references96

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          The Market for "Lemons": Quality Uncertainty and the Market Mechanism

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            The theory of planned behaviour: reactions and reflections.

            Icek Ajzen (2011)
            The seven articles in this issue, and the accompanying meta-analysis in Health Psychology Review [McEachan, R.R.C., Conner, M., Taylor, N., & Lawton, R.J. (2011). Prospective prediction of health-related behaviors with the theory of planned behavior: A meta-analysis. Health Psychology Review, 5, 97-144], illustrate the wide application of the theory of planned behaviour [Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50, 179-211] in the health domain. In this editorial, Ajzen reflects on some of the issues raised by the different authors. Among the topics addressed are the nature of intentions and the limits of predictive validity; rationality, affect and emotions; past behaviour and habit; the prototype/willingness model; and the role of such background factors as the big five personality traits and social comparison tendency.
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              Socioemotional Wealth and Business Risks in Family-controlled Firms: Evidence from Spanish Olive Oil Mills

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                Author and article information

                Contributors
                (View ORCID Profile)
                Journal
                Journal of Family Business Management
                JFBM
                Emerald
                2043-6238
                October 01 2020
                February 10 2022
                October 01 2020
                February 10 2022
                : 12
                : 1
                : 24-40
                Article
                10.1108/JFBM-04-2020-0025
                296f0e36-cff4-495f-87f1-700bbaeca210
                © 2022

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