Search results for "generational succession"
showing 2 items of 2 documents
Founding-family-controlled firms, intergenerational succession, and firm value
2022
Using a unique, hand-collected data sample and panel-data econometric techniques, we analyse the impact of founding-family control and intergenerational succession on the value of Chilean listed companies. After controlling for firm- and ownership-specific characteristics, we find an inverse U-shaped relationship between a founding family’s degree of ownership and firm value. Hence, family ownership at first increases firm value. However, when family ownership exceeds a threshold of about 38 percent of outstanding shares, the family takes advantage of its power in the firm and extracts wealth from minority shareholders. Further, if the founder of the company is the CEO or chairman of the bo…
Conflicts and Negotiations in the Intergenerational Succession of Family Firms: A Literature Review.
2019
This chapter intends to stimulate a serious debate on the topic of conflict in family businesses and the theory of negotiation as a tool to resolve these conflicts. The methodology is based on the survey of the main literature on these topics. Despite the literature on conflict management is highly developed as well as the literature in family business, scholars and researchers have not yet deepened several areas of conflict management in family businesses, so the two fields of literature are yet not well integrated, showing a potential for future research avenues. We then propose a research agenda identifying the issues and research gaps that should be explored by researchers to reach a de…