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The chapter deals with the interface between the law of succession and corporate law and explains the completely different objects of these two fields of law. Succession law tries to shift and contribute assets to the successors, whereas corporate law focuses on the well-being of the company. However, in a family business, it is necessary to find legal, social, and psychological techniques to combine these two areas and to establish strong and binding relations. This is the function of shareholder agreements and family constitutions.

Credit default swap (CDS) spreads may not represent the accurate credit risk levels (asymmetric spread behavior) of assets with the initiation of corporate events, such as merger, spin‐off or other similar events in which one entity succeeds to the obligations of another entity. The International Swaps and Derivatives Association (ISDA) succession language for the definition of succession events misleads the CDS market participants to determine CDS spreads. The purpose of this paper is to provide a conceptual framework for the relationship between the ISDA succession language and CDS spreads in order to clarify the factors behind the asymmetric spread behavior around several corporate activities.

The authors develop a conceptual driver model to establish a link between company characteristics and succession issues. Then, a succession model to evaluate the risk levels occurring with succession issues is designed.

The ISDA succession language has an influence on CDS spreads around corporate events. The explanatory approach provides the foundation for the understanding of the relationships between succession issues caused by several corporate events, involving particularly restructuring, refinancing and/or guarantee risk, and CDS spreads. Combination of the driver model and the succession model helps to assess the potential influence of succession events on CDS spreads.

Market participants should take into consideration the effects of the ISDA succession language on CDS spreads around succession of CDS.

Prior research related to the CDS has always focused on the economic determinants of CDS spreads. This paper is the first attempt to explain the relationship between the ISDA succession language and CDS spreads.

A core responsibility of organizational leaders in a world of increasing competition for best talents is positioning right persons and plans for sustainable growth and progress of their respective organizations. However, attracting top talents for key positions is meaningless if it is not backed by winning retention or succession strategies. This paper aims to assess succession management techniques in the Nzema East District (NED) of Ghana to determine incumbent reliability on its own succession knowledge, practice and sustainability.

Through a cross-organizational investigation, this study used qualitative approaches to explore succession knowledge and practice as they relate to effective management and sustainability of selected NED organizations. In all, 60 purposively selected participants were involved in the study.

This study revealed not only that most NED organizational leaders have no succession plans but also that some senior management officials of these organizations, much as their subordinates, lack knowledge and practice of the concept altogether. It also emerged that a leadership succession paradox, where management expressed profound interest in succession planning (SP) learning and practice, adopting SP as a strategic tool and in using SP as insurance for sustainability of NED firms, but presides over the contrary, characterized much of NED management activity.

As a case study, this research is limited in terms of generalizability, but its implications are quite limitless.

The originality of this study lies in an emerging leadership succession paradox where business executives advocate what, in practice and theory, they are themselves opposed to. Contrary to the logic that we practice what we learn, succession management in NED organizations is not only unethical but also paradoxical. This study has not been published and is not being considered for publication anywhere else.

This paper aims to examine whether CEO succession with gender change (male to female) affects audit fees in the Chinese setting. In addition, this study examines whether the relationship exists in both types of ownership, i.e. non-state-owned enterprises (SOEs) and SOEs.

This study uses data from all A-share non-financial firms listed on both the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) for the period 2009 to 2015. To draw inferences, this study uses pooled ordinary least squares regression as a baseline technique. This study performs sub-sample analyzes for robustness. To account for endogeneity, this study uses three techniques including firm fixed-effects regression, the two-step Heckman model and the system generalized method of moments (GMM).

This study documents a significantly negative relationship between CEO succession with gender change and audit fees. However, the negative effect of CEO succession on audit fees is more pronounced in non-SOEs than SOEs. This study also finds, in additional analyzes, a strong negative effect of female CEO succession on audit fees in sub-sample of large, high-risk, high-performance and firms audited by non-big auditors. The main finding is robust across three endogeneity techniques.

The findings add to the ongoing debate about the underrepresentation of women in key executive positions such as CEO. The results suggest that CEO succession from male to female has a favorable effect on the quality of internal monitoring mechanisms (due to the superior monitoring skills of women) and enhances the quality of financial reporting. The study has practical implications for regulatory bodies and corporate decision-makers; this study encourages them to look into considering women in the executive succession framework.

This study contributes to the literature by exploring the effect of CEO succession with gender change (male to female) on audit fees in the context of China and the existence of this relationship in non-SOEs and SOEs.

How do families-in-business deal with intergenerational female succession in their company’s corporate governance structures, i.e., the board of directors? How is female boardroom capital built up? This chapter explores the boardroom immersion processes and mentorship programs followed by 44 Mexican and Spanish next-gen women owners of 2nd, 3rd, and 4th generation, privately-owned, national and international firms, who were appointed for the first time to their family business’ board of directors between 2005 and 2020.

Our outcomes show that intergenerational female corporate governance succession is driven more by particular families-in-business matters, like the inheritance of ownership rights, than by corporate governance codes or soft legislation. We discovered that next-generation women owners are more likely to be appointed for the first time to their family business boardroom when they’re between ages of 38 and 47. Ninety percent (90%) of them will be appointed at or before 57. Our findings also reveal that 4th generation female owners are immersed in the boardroom at a younger age.

When analyzing the immersion processes, we noticed too that due to limited business socialization during their upbringing, some of these well-­educated, professionally qualified females had to cope with holding legal ownership (potestas) in the family firm but missing business decision-making legitimacy (auctoritas) in the governance structure. Based on our results, we developed a families-in-business female boardroom capital development framework to help them achieve both: potestas and auctoritas, as well as to facilitate next-generation women owners’ boardroom incorporation in family enterprises.

This paper uses data about the challenges and difficulties confronting organisations and leaders to advance a dualized meaning of corporate leadership in the context of a developing country. The purpose is to describe a leadership frame that is locally contextualised, thereby bringing conceptualisation and thought closer to action, reified reality and applicability.

This research was designed as a series of three studies starting from an applied/interventionist standpoint. The first study used data from applied diagnostic interventions, the second used qualitative interviews and the third used open‐ended questionnaires. Data were collected from 25 Ghanaian organisations and 29 corporate executives.

Drawing on a range of everyday issues such as poor attention to customers, pressure from stakeholders (such as political overlords) and leaders' “love” for perks, the paper develops a notion of leadership as “engagement” and as “system development”.

The data are exploratory and the sample size may be considered small.

The paper discusses implications for leadership research and leader development in a developing country like Ghana.

This exploratory study aims to provide fresh insights into the ownership transfer of private family firms through internal management buy‐out (MBO) and external management buy‐in (MBI) succession routes. The paper aims to explore if flows of information impact the succession planning process and if the nature of succession planning impacts the business sale negotiation process relating to family firms that select MBO/MBI succession routes.

Guided by insights from agency theory and theories relating to information asymmetries and negotiation behaviour six hypotheses were derived. Private family firms that had received venture capital and the MBO/I deals had been completed between 1994 and 2003 were identified. A structured survey was administered to 117 senior members of acquiring MBO/I management teams after the deal had been completed in several European countries. Non‐parametric chi‐square tests and Mann‐Whitney “U” tests were used to test the presented hypotheses.

Evidence highlights the importance of information sharing and that the family owner(s) may not always be in the strongest position. MBOs reported lower information asymmetry. Also, lower information asymmetry was reported when vendors and management were involved in succession planning. Internal managers with greater access to information were found to influence the negotiation process and determine who is more likely to benefit from the price to be paid for the firm. A mutually agreed price was less likely when management controlled information and when personal equity providers (PEP) were involved in the process supporting the interests of the MBO/I team.

Family firm owners need to plan for succession planning. Vendors of family firms need to leverage external professional advice when negotiating the sale of their ventures to ensure “family agendas” are protected.

This study has extended the conceptual work of Howorth et al. surrounding the succession of family firms through MBOs and MBIs. Rather than relying on case study evidence alone, cross‐sectional survey evidence was explored within a univariate statistical framework to explore gaps in the knowledge base relating to succession planning and business sale negotiation behaviour.

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Is Steve Jobs the right man to lead Apple? For most media and technology observers, this is an absurd question: how can you doubt the man who almost single‐handedly regenerated Apple from near obscurity in the early 1990s to the multi‐billion dollar force it is today. However on more than one occasion Wall Street has wondered if his West Coast style leadership is the right one, and the way he has chosen to handle his “illness” in 2009 has left many scratching their heads.

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

The Journal of Family Business Management was established in 2011 as the premier source of research related to family business from a management perspective. The journal has progressed to become one of the most important sources for emerging and novel information related to family business so it is important to analyse its history in order to make progress with future research. The goal of this article is to statistically analyse through bibliometric techniques the changes occurring in the journal.

This article presents a bibliometric analysis of the journal that can help analyse past performance but also predict future trends. The analysis presents information on the most cited authors, institutions and journals, which indicates the international diversity of the journal. In addition, the most used keywords and article topics are presented that help to understand the main themes discussed in the journal.

The statistical analysis suggests that whilst there is a tendency to publish more European and North American research on family business, this is changing with countries from South America, Oceania and Asia increasing their representation in the journal. In addition, the topics covered in the journal have stayed the same in terms of focussing on family and family business practices but also expanded to include more research on entrepreneurship and innovation.

A bibliometric analysis technique was used thus there are some limitations in terms of the type of methodology and focus only on published articles in the journal. As articles in press were not included this is an area that could be addressed in future research.

As evident in the most published institutions in this journal, family business institutes can gain from research conducted on family business management. This means that family business managers should try to collaborate with research institutions on emerging new areas that require solutions.

This article presents some suggestions for future research that will help guide more research into areas that are currently under-represented in the journal and emerging topics that are likely to garner interest.

The fundamental component of Confucian culture is clan culture, which stresses that family ties are the most important of all social relationships and have an essential impact on the governance model of family firms in Southeast Asian countries, especially in China. This study investigates complex relationships among family firm succession and corporate governance reform in the context of Chinese clan culture.

Drawing upon the analysis of altruistic behavior and conflict in succession process in family firm, the study uses a moderation model to capture the relationships between succession and governance reform in the context of clan culture. This study conducts an empirical study on 295 Chinese listed family firms that initiated intergenerational succession from 2008 to 2018 to test the model.

The empirical results suggest that the different stages of the succession will positively affect the family firm's governance reform, whether it is the stage in which the successor takes over the firm or the stage in which the successor completely controls the firm. Furthermore, the succession-governance reform relationship is negatively moderated by the clan concept of the actual controller.

This paper fulfills an identified need to study how succession in the family firm can accelerate corporate governance reform (transition from relation-based governance to rule-based governance). The research results provide evidence from the firm-level under the Chinese clan culture context to understand the complex relationship between succession and corporate governance.