Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/180994
Authors: 
Kay, Rosemarie
Pahnke, André
Schlepphorst, Susanne
Year of Publication: 
2018
Series/Report no.: 
Working Paper 04/18
Abstract: 
This paper analyzes the impact of family firms' past and future economic viability on the incumbents' decision on the business transfer mode. Using the German IAB Establishment Panel and estimating logistic regression models we show that the decision on the business transfer mode rather depends on the expected future performance than on the past one. Moreover, family businesses that are exclusively managed by their owners are more likely to be planning an intra-family succession. However, ambiguity about the future performance overrides the original intention and induces the incumbents to sell the business.
Subjects: 
family businesses
business succession
transfer mode
performance
JEL: 
L25
L26
M2
Document Type: 
Working Paper
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