A contractual perspective on succession in family firms: a stakeholder view

Bjuggren, Per-Olof; Sund, Lars-Göran

doi:10.1007/s10657-012-9331-6

Cited by 11 publications

(7 citation statements)

References 10 publications

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“…Other stakeholders, such as members of the management team, have no legal tools at their disposal to avoid an unwanted acquisition of shares in the event of a divorce (Bjuggren & Sund, 2014;Sund & Melin, 2013). The next section describes practitioner interviews that illustrate how the regulatory framework on divorce (dys-) functions in practice.…”

Section: Co-owners and Other Stakeholdersmentioning

confidence: 99%

Divorce in the family business: unfolding the legal problems by learning from practice

Haag

Sund

2016

Journal of Family Business Management

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Purpose-Our purpose is to explore the case of divorce in family business from a legal perspective. Design/methodology/approach-We rely on legal analysis and interviews with estate distribution executors to discuss problems with the legal rules and how they are practiced. Findings-Our findings show that the law is ill fitted to the situation where there is a family business included in the division of marital property. In divorce, family law dictates the division of marital property and the family business is reduced to an asset to be divided like any other. Critical issues are identified and elaborated. Research limitations/implications-Divorce and other disruptions to the family system should be considered in family business research among other threats to the business. The legal perspective on divorce in the family business offered here primarily concerns ownership issues. The impact of divorce on management is equally in need of exploration, which is our suggestion for further studies. Practical implications-Our paper illuminates in which ways the business is hampered from divorcing owners and discuss critical issues with applying family law in a family business context. Social implications-Policymakers should establish rules in which shares in an unlisted business are by default assigned to separate property until something else is contracted. Originality/value-New light is shed on the practical problems of interpreting family law in a family business context advancing our understanding of family aspects in family business research.

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Section: Co-owners and Other Stakeholdersmentioning

confidence: 99%

Divorce in the family business: unfolding the legal problems by learning from practice

Haag

Sund

2016

Journal of Family Business Management

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“…2. Avoiding a negligently performed ownership succession that can both upset potentially powerful close stakeholders, such as co-owners supported by transfer restrictions, and alert distant nonclose stakeholders, such as tax authorities relying on mandatory legislation (Bjuggren & Sund, 2014;Sund & Melin, 2013). 3.…”

Section: Preparing Ownership Successionmentioning

confidence: 99%

Intergenerational ownership succession

Sund

Мелин

Haag

2015

Journal of Family Business Strategy

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“…Successor training also outside the family business, quality relationships and motivation but also the business context, culture and its environment have an important influence on the effectiveness of succession. This environment or institutional framework (Bjuggren and Sund, 2012) can in a succession context be defined as transaction atmosphere (Memili et al, 2011;Pittino and Visintin, 2011). Another key aspect leading to longevity in family firms are values that are successfully passed on from one generation to the next (Handler, 1994).…”

Section: Introductionmentioning

confidence: 99%

Knowledge transfer in family business successions

Boyd

Royer

Pei

et al. 2015

Journal of Family Business Management

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Purpose-Knowledge often is the fundament for strategic competitive advantage. Thus, it is highly relevant to understand better how knowledge is transferred from one generation to the next in family businesses. The purpose of this paper is to link the competitive advantage realisation in family businesses to the success of transferring strategically valuable knowledge in different business environments to the next generation. Design/methodology/approach-Building on the contingency model of family business succession (Royer et al., 2008) knowledge transfer in family businesses from different cultures is investigated in this paper. From a resource-oriented and transaction cost inspired perspective two family businesses with a similar industry background from China and Europe are compared regarding knowledge transfer in the context of family firm succession taking into account the respective transaction atmosphere. Findings-Different successions for two long-lived family firms are illustrated in a systematic fashion: based on the theoretical elements suggested both cases are described to get insights into the usefulness of the theoretical reasoning developed. On the basis of these, the cases are compared with each other and conclusions for both cases are drawn. Implications for theory and practice as well as avenues for future research are sketched. Originality/value-The focus of the current study is to gain more insight into long-lived family businesses by comparing two cases over a period of more than 200 years with regard to strategically relevant resources as well as the underlying transaction atmospheres. Implications for family firms depending on the resource types and transaction atmosphere are discussed.

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A contractual perspective on succession in family firms: a stakeholder view

Cited by 11 publications

References 10 publications

Divorce in the family business: unfolding the legal problems by learning from practice

Divorce in the family business: unfolding the legal problems by learning from practice

Intergenerational ownership succession

Knowledge transfer in family business successions

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