S-WoPEc
 
Scandinavian Working Papers in Economics
HomeAboutSeriesSubject/JEL codesAdvanced Search
Ratioinstitutet - The Ratio Institute Ratio Working Papers

No 181:
A Contractual Perspective on Succession in Family Firms

Per-Olof Bjuggren () and Lars-Göran Sund ()

Abstract: Abstract This paper analyses succession in family firms from a contractual perspective. A firm is regarded as a nexus of contractual relations with owners, employees, suppliers of goods and services and customers. These contractual parties are in differing degrees tied to the firm through asset specificities. Succession can affect the value of such assets. In this sense they become stakeholders with vested interests in the succession process. The theoretical discussion of affected stakeholders is backed up by a survey study of 143 Swedish family-owned businesses that have been subject to succession. The results show that the opinions of close shareholders such as family members and incumbent mangers as well as those of other stakeholders such as suppliers and customers are important.

Keywords: Succession; Family firms; Mutual dependence; Asset specificity; Nexus of contracts; Close and non-close stakeholders; (follow links to similar papers)

JEL-Codes: G32; K12; K22; (follow links to similar papers)

13 pages, November 14, 2011

Before downloading any of the electronic versions below you should read our statement on copyright.
Download GhostScript for viewing Postscript files and the Acrobat Reader for viewing and printing pdf files.

Full text versions of the paper:

pob_lgs_succession_181.pdf    PDF-file
Download Statistics

Questions (including download problems) about the papers in this series should be directed to Martin Korpi ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design by Joachim Ekebom

Handle: RePEc:hhs:ratioi:0181 This page was generated on 2014-12-14 19:26:24