..., the succession process does not end with the transfer of power: successful succession implies acceptance and integration of the new management (Sharma et al., 2001). © Emerald Group Publishing Limited 2004 Family firms Succession planning Strategic change Family business...

... 2004 Family firms Business performance Succession planning Family businesses are reckoned as one of the engines of the post‐industrial growth process since they are credited for nurturing across generations entrepreneurial talent, a sense of loyalty to business success, long‐term...

... firms Succession planning Carsrud (1994) has defined a family business as one in which both ownership and policy making are dominated by members of an “emotional kinship group”. Accordingly, family firms violate a tenet of contemporary models of organization, namely, the separation of ownership...