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A contractual perspective on succession in family firms: a stakeholder view
Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
2014 (English)In: European Journal of Law and Economics, ISSN 0929-1261, E-ISSN 1572-9990, Vol. 38, no 2, 211-225 p.Article in journal (Refereed) Published
Abstract [en]

This paper analyses succession in family firms from a contractual perspective. A firm is regarded as a nexus of contractual relations with owners, employees, suppliers of goods and services and customers. These contractual parties are in differing degrees tied to the firm through asset specificities. Succession can affect the value of such assets. In this sense they become stakeholders with vested interests in the succession process. The theoretical discussion of affected stakeholdersis backed up by a survey study of 143 Swedish family-owned businesses that have been subject to succession. The results show that the opinions of close shareholders such as family members and incumbent mangers as well as those of other stakeholders such as suppliers and customers are important.

Place, publisher, year, edition, pages
Springer, 2014. Vol. 38, no 2, 211-225 p.
Keyword [en]
Succession, family firms, mutual dependence, asset specificity, nexus of contracts, close and non-close stakeholders
National Category
Social Sciences
Identifiers
URN: urn:nbn:se:hj:diva-24769DOI: 10.1007/s10657-012-9331-6ISI: 000342075600002Scopus ID: 2-s2.0-84859728233OAI: oai:DiVA.org:hj-24769DiVA: diva2:748095
Available from: 2014-09-18 Created: 2014-09-18 Last updated: 2015-06-26Bibliographically approved

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Bjuggren, Per-OlofSund, Lars-Göran
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CiteExportLink to record
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Citation style
  • apa
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  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
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  • text
  • asciidoc
  • rtf