并非所有的危机都是一样的:危机的影响引发了家族企业的继任

IF 3.6 Q2 MANAGEMENT Journal of Family Business Management Pub Date : 2023-10-06 DOI:10.1108/jfbm-01-2023-0009
Peng Ren, Isabel C. Botero, James O. Fiet
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引用次数: 0

摘要

虽然继承计划对家族企业的连续性很重要,但并不是所有的家族企业都有机会参与这一计划。有时,这些组织面临可能引发家族内部继承的危机事件。然而,如果出现了计划外的继任,会发生什么呢?家族企业注定要失败吗?本项目旨在探讨由危机引发的计划外继任及其对继任后财务绩效的影响。作者还研究了继任者特征(即教育和以前的工作经验)对这种关系的调节作用。设计/方法/方法使用151家中国上市家族企业的数据对这些想法进行了测试。研究结果表明,危机驱动的家族内部继任并不总是导致继任后绩效下降。只有由市场危机引发的继任,在计划外继任后才会对财务业绩产生负面影响。在这些情况下,继任者的教育和以前的经验缓和了市场危机继承与财务绩效之间的负相关关系,因此拥有更多的经验和大学教育减少了这些对绩效的负面影响。研究结果表明,为下一代做好准备对于帮助家族企业应对计划外的继任非常重要。研究结果表明,继承人的教育程度和工作经验可以帮助家族企业管理危机。独创性/价值本研究继续构建对非计划继承的理解,以及继承人准备对家族企业成功的重要作用。
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Not all crises are the same: the effects of crisis triggered successions in family firms
Purpose Although succession planning can be important for the continuity of family firms, not all family business have the opportunity to engage in this planning. Sometimes, these organizations face crisis events that may trigger an intra-family succession. However, what happens when there is an unplanned succession? Are family businesses doomed to fail? This project aims to explore unplanned successions that are triggered by crisis and the impact that this can have on post-succession financial performance. The authors also examine the moderating role of successor characteristics (i.e. education and previous work experience) on this relationship. Design/methodology/approach The ideas were tested using data from 151 publicly listed family firms in China. Findings The findings indicate that having a crisis driven intra-family succession does not always result in lower post-succession performance. It is only successions that are triggered by market crises that negatively impact financial performance after the unplanned succession. In these instances, the education and previous experience of the successor moderate the negative relationship between market crisis succession and financial performance such that having more experience and a college education diminishes these negative effects on performance. Practical implications The results point to the importance of the preparation of the next generation in helping family firms navigate unplanned successions. The findings indicate that education and previous work experience of the successor can help a family firm manage a crisis. Originality/value This study continues to build the understanding about unplanned successions and the important role that successor preparation can have for the success of the family firm.
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来源期刊
CiteScore
5.50
自引率
33.30%
发文量
51
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