Knowing me, knowing you: A study of the types of knowledge transferred during the succession process in intra-family takeover of family businesses in Hungary

Abstract

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.