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Perceptions About the Extent of Succession Planning in Canadian Family Firms
Author(s) -
Sharma Pramodita,
Chua Jess H.,
Chrisman James J.
Publication year - 2000
Publication title -
canadian journal of administrative sciences / revue canadienne des sciences de l'administration
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.347
H-Index - 48
eISSN - 1936-4490
pISSN - 0825-0383
DOI - 10.1111/j.1936-4490.2000.tb00223.x
Subject(s) - successor cardinal , ecological succession , family business , humanities , political science , management , economics , art , mathematical analysis , ecology , mathematics , biology
Despite exhortations about the importance of succession planning for the family firm, many believe that family firms continue to leave succession planning to chance. This study shows that family members have different opinions about whether their family firms engaged in succession planning. The incumbents believe that they did while the other family members, including the successors, believe that they did not. We also present results showing that two factors with which the family business succession literature is most concerned—an incumbent ready to step aside and the presence of a competent successor—may influence the extent to which the Canadian family firm engages in succession planning. Résumé Malgré les consignes concernant l'importance de plani‐fier la succession d'une compagnie familiale, beaucoup d'entre nous croient que ces m4iCme famille different d'opinion a savoir si la compagnie s'est, oui ou non, engagée dans un processus de planification de la succession. Ceux et celles en place croient qu'ils l'ont fait quand les autres membres de lafamilee, incluant les suc‐cesseurs, croient le contraire. Nous presentons aussi des donnees qui démontrent que les deuxfacteurs qui préoc‐cupent la litérature dans le domaine—une personne en place prete a céder sa place et la presence d'un suc‐cesseur compétent—peuvent influencer le degré d'engagement de la compagnie familiale canadienne au processus de planification de la succession.