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Cited by 83 publications
(81 citation statements)
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References 25 publications
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“…This attitude tends to alienate members of the family coalition who view a smooth, effective and satisfying for all intra-family succession as imperative to their future financial well being. Another surprising finding of the (Marshall et al, 2006) study was that as incumbents advances in age they are more likely to have succession plans in place than younger incumbents. It is odd therefore that they take this confrontational stance when they have already planned for their retirement and this is probably because the incumbents feel a strong desire to prove to themselves one last time that they still have the capability to be in charge as they have been all along, even though they realize they must soon relinquish control.…”
Section: Resultsmentioning
confidence: 95%
See 1 more Smart Citation
“…This attitude tends to alienate members of the family coalition who view a smooth, effective and satisfying for all intra-family succession as imperative to their future financial well being. Another surprising finding of the (Marshall et al, 2006) study was that as incumbents advances in age they are more likely to have succession plans in place than younger incumbents. It is odd therefore that they take this confrontational stance when they have already planned for their retirement and this is probably because the incumbents feel a strong desire to prove to themselves one last time that they still have the capability to be in charge as they have been all along, even though they realize they must soon relinquish control.…”
Section: Resultsmentioning
confidence: 95%
“…Research has shown that in fact, the older the incumbent is when he or she relinquishes their position as the head of the firm, the less cooperative and more confrontational he or she becomes to the incoming intra-family successor (Marshall et al, 2006). When this occurs the incumbent is less likely to introduce the successor to key stakeholders and to disclose key information that may not be known to others in the firm.…”
Section: Resultsmentioning
confidence: 99%
“…This is a warning for family business owners who are "reluctant to let go". The succession is an inevitable question for family business [31], the owners can only take action on several options of "take action now or take action in the future" [32], even "take action after the death" [33]. According to the study, the family business owners should not only make succession decisions early, but also make a succession planning as soon as possible, which will not only ensure the performance of the succession, but also improve children's willingness to take over the business.…”
Section: Discussionmentioning
confidence: 99%
“…This can be particularly important for young family firms which have never tried to plan and implement the succession strategy before, because they are heavily exposed to make a mistake or face much more difficulties during this process. However, some researchers argue that the succession planning process may begin many years before the plans are formalized and that is why thinking about transgenerational change should not be limited only to the formal documentations [Marshall et al 2006]. On the basis of described literature review dedicated to the model and factors preventing or favoring the succession strategy process in family businesses, the author of this paper would like to pay attention to the Polish family firms.…”
Section: Succession Strategy − Literature and Empirical Studies Reviewmentioning
confidence: 99%