The paper aims to analyse the succession process of Hungarian family businesses with a new, dyadic approach, examining both the founders' and the successors' (i. e. children of founders in these cases) point of view. The study focuses on two major notions: paternalistic leadership and the successors' human capital. Following the summary of the results of two empirical research conducted at Budapest Business School, the paper highlights the relation between paternalistic leadership style of the founder and professional readiness/human capital of the successor in the context of the multigenerational Hungarian family businesses. Our research identified three dimensions connected to the readiness of the incumbents to successfully hand over the family business that could be examined during the process of takeover, and these are: successors' human capital, socio-emotional wealth transfer and successors' potential. The paper gives an overview of paternalistic leadership and analyses the aspects of successors' human capital.
The study aims to examine the ownership transmission strategies in the context of family firm succession in Hungary. The successful transfer of ownership, management and acquired experience at a family firm represents one of its greatest challenges; however, there is still a lack of understanding of the unique future strategies and succession outcomes of Hungarian family businesses. As a significant proportion of the founders of those family businesses established after the regime change (post-1989) are now reaching retirement age, a study of how such business organisations plan to survive the generational transition is highly relevant. This study applies a mixed methodology of quantitative and a qualitative analysis (e.g.,in the case of IPOs). The results show that the average age of the examined family firm CEOs is higher than the global average and the majority of them plans to keep ownership and management within the family. Other exit strategies (i.e. initial public offerings, mergers and acquisitions) are not typical of the examined sample.
This study aims to examine the role of knowledge in ensuring the successor’s readiness for intra-family succession in Hungarian family businesses. The study investigates the research question: which types of knowledge shape the successor’s readiness for succession from both the founder and successor perspectives? A dyadic approach is employed, examining both the founders’ and successors’ perspectives through semi-structured interviews. Based upon the findings, propositions are set out for further research directions. For practitioners, the findings uncover the key types of knowledge when preparing for succession and the order in which these should take place. Practitioners can thus develop strategies for improving the development of successor’s knowledge capital, increasing the chances of a successful succession process.
A társas-érzelmi vagyon (röviden: TÉV) kitüntetett szerepet élvez a családi vállalkozási elméletek között, köszönhetően a családi vállalkozásokat a nem családiaktól megkülönböztető szerepének. A társas-érzelmi vagyon koncepciója 2007 óta széles körben használt a családi vállalkozások sajátosságainak magyarázatára, miközben a nemzetközi tudományos közösségben az elméletet kritizáló hangok is erősödtek. A tanulmány célja egy friss, magyar nyelvű szakirodalmi áttekintést adni a társas-érzelmi vagyonról, fókuszáltan a TÉV prioritásainak változásáról a többgenerációs családi vállalkozásokban, mely méltatlanul elhanyagolt kutatási terület, figyelembe véve a családi vállalkozások dinasztikus aspirációt és a családi kontroll megőrzésére gyakorolt következményeket. A szerzők az eredményeik ismertetését követően propozíciókat és jövőbeni kutatási irányokat fogalmaznak meg.
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