“…Succession is one of the most critical events in the life cycle of family firms (Calabr o et al, 2018;Campopiano et al, 2020;Ahrens et al, 2019), and the issue of succession remains one of the most studied topics in the family firm field (Daspit et al, 2015;De Massis et al, 2008;Lloyd et al, 2015;Yezza et al, 2021). The succession of family firms, the intergenerational transition of ownership and/or management from one family member to another family member (Williams and Mullane, 2019), is vital to a family firm's performance, success, survival and continued existence as a family firm (Williams and Mullane, 2019;Royer et al, 2008). However, research shows that only 30% of family firms survive the transition from the first generation to the second generation, while 15% of those will operate up to the third generation (Ward, 1997;Gagn e et al, 2019).…”