“…Loyalty to the family and local community may be lost, and long-term commitment to the business may not be maintained (Astrachan, 1988;Bjuggren & Sund, 2001;Pollak, 1985). However, despite the importance of family-owned businesses, only about 30% are transferred to a founder's descendants (Beckhard & Dyer, 1983;Lansberg, 1988;MassMutual, 2002), although recent research results indicate that the 'survival' rate from the first to the second generation of family-owned businesses may be higher (Stamm & Lubinski, 2011). Nevertheless, a low rate of intergenerational ownership succession highlights the importance of improving our understanding of ownership succession to facilitate the process for business families.…”