PERFORMANCE LAGS AND GAPS DURING FAMILY BUSINESS SUCCESSION The Dual Inefficiency of Succession Discontinuity and Lower Initial Postsuccession Performance

Christos R. Sigalas, George Chondrakis, Anastasios Zaharopoulos, George S. Vozikis, JE Butler

Research output: Book chapterChapterpeer-review

Abstract

This study extends prior research, which has primarily considered succession as a single continuous process and paid less attention to the fact that there are key inefficiencies associated with a separated and discrete succession process that can be defined and categorized into distinct phases. More specifically, this chapter relying on the theoretical construct of the family business life cycle and the particular stage during which the succession occurs, examines 2 critical emerging inefficiencies resulting in performance loss during the Succession process in family owned businesses, namely, the inefficiencies of succession discontinuity and lower initial postsuccession performance. We also introduce the notion of succession moderators, which have a significant impact on the intensity of these 2 distinctive succession inefficiencies. Finally, we propose a mathematical model that call assess the impact of the succession moderators oil the succession inefficiencies enhancing or lowering a family firm's overall performance.
Original languageEnglish
Title of host publicationTheoretical Developments And Future Research In Family Business
EditorsPH Phan
PublisherInformation Age Publishing (IAP)
Pages231-260
Number of pages30
ISBN (Print)978-1-59311-551-7
Publication statusPublished - Jan 2008
Externally publishedYes

Publication series

NameResearch In Entrepreneurship And Management

Keywords

  • Model
  • Firms

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