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The purpose of this paper is to explore the attributes a subsequent successor in family business should possess and to examine differences in expected attributes in the eyes of the incumbent and a successor-to-be.

Drawing upon the classic framework of Chrisman et al. (1998), 60 in-depth interviews were conducted with family business predecessors and successors-to-be in Thailand.

The attributes of competence and personality traits were prominent in this research; while the importance of current involvement with family business, relationship with incumbent, the relationship with family members, along with family standing, appears to be less important than expected in the context of an Asian collectivistic society. This research highlights the divergent gaps in the attributes desired by the incumbents and successors-to-be. 28 significant gaps between incumbents and successors-to-be have been found in 56.67% of the firms in this research. A majority of the gaps have been, surprisingly, found in the attributes of competence, incumbent relationship and family standing.

To increase its reliability, a study with a greater number of family businesses should be conducted, thereby increasing the amount of empirical data on this topic.

This study contributes to the under explored research area of differences in expected attributes in the eyes of the incumbent and a successor-to-be. They can be indicators for potential intra-family conflicts and unsmoothed transition.

Taking company succession as an alternative means of embarking on an entrepreneurial activity, the aim of this study is to explore those intangible assets that are regarded as attractive from the viewpoints of external successors. Thereby, the focal point is on the preparation stage in which promising companies are identified and scrutinised.

The strategy of research behind this paper is the application of a mixed methods approach that is divided into an internet‐mediated questionnaire and a series of in depth interviews (given priority).

The findings suggest that intangible assets have a notable influence on the intention of an external successor to take over a company. This would suggest that the traditional issues considered with regard to company succession, such as tax, legal and financial aspects, should be extended to include intangible aspects. The findings are summarized by proposing a framework for the role of intangibles in external succession, thereby highlighting critical intangibles as perceived by external successors.

This explorative study is by no means exhaustive; however it is regarded as a valuable fundament for further research activities associated with the role of intangible assets in terms of company succession, particularly external succession.

The framework appears to be a valuable tool for understanding the importance of intangibles in external company succession in general and particularly their influence on external successors' business acquisition intentions. The findings are particularly considered as helpful for incumbent‐owners who plan to sell off their companies.

The study's findings can be viewed as a new perspective on company succession as it highlights the intangible assets that make a company attractive to external successors. Given the increasing number of small to medium‐sized enterprises waiting to be transferred to new owners, these findings are highly important as they provide a more holistic view of the dynamics of company succession (and external succession in particular).

The succession process represents one of the most critical events in the family business lifecycle. The purpose of this paper is to explore this process while focussing first on the drivers behind the choice of successor and, second, on the impact of this choice on the entrepreneurial behavior of the siblings.

The qualitative approach was used in which multiple case analyses were performed. A total of 12 cases were purposively selected from the Lebanese private sector, and semi-structured interviews were conducted with the successors and the founders when available. The interview data were transcribed and a coding scheme was created to generate relevant categories. Those categories were named and later re-assessed by an external researcher to ensure inter-rater reliability.

The three dimensions of social capital were found to have a profound influence on the succession decision with much focus on familial stewardship as an emerging cognitive driving force. When “familial stewardship” is shared by incumbent and sibling, it strengthens the latter’s chances of being chosen as successor. Further, a succession pathways model was introduced that depicts the siblings’ behavior following the succession decision which seems to often trigger further entrepreneurship.

This study is distinct as it introduces a new cognitive construct that helps rationalize the successor-selection decision in a Middle Eastern context. It also goes beyond the succession event to depict potential entrepreneurial behavior triggered by succession.

The purpose of this study is to shed some light on an important phenomenon – how and why intra-family succession may change if millennial cohorts are considered as successors. Specifically, it aims to explore the superordinate themes that support the success of intra-family succession from perspective of two different cohort successors (X and millennial).

An interpretative phenomenological analysis (IPA) was adopted for detailed structural analysis of in-depth interview as it aims to explore meaning of participants' experiences. A total of ten individuals participated in the study.

Seventeen superordinate themes emerged from participants' personal statements and experiences. The themes are grouped into four aspects: namely, characteristics of predecessor and successor, succession process, firm and family and succession output. These aspects were found to be different between X and millennial cohort successors. They then form an empirical model of intra-family succession from both perspectives.

This study enriches the theory of family firm by considering generational effect of successors on intra-family succession.

As millennial cohort successors prefer to go directly into business (experiential learning) and are driven by non-material motives (passion-driven), predecessors are expected to utilize them in the process of nurturing and development.

This study considers the role of generation cohort in supporting the success of intra-family succession especially in relation to the characteristics of millennial cohort successors that have been shown to differ from that of X cohort.

The widespread family businesses play an important role in the national economy of developed countries in Europe and North America, or of developing countries in East Asia. However, family business succession is a worldwide difficult problem. The innovative family business succession practices of Robert Bosch GmbH, the German family company which has a history of 130 years (1886-2016), basically follow the trend of evolving from family businesses to social enterprises after further socialization. However, it has its own innovation and uniqueness which is worthy of reference by Chinese family businesses.

The present study aims to provide a practical and robust assessment technique for assessing countries' investability in global supply chains to practitioners. Thus, the proposed approach can help decision-makers evaluate and select appropriate countries in the expansion process of the global supply chains and reduce risks concerning country (market) selection.

The present study proposes a novel decision-making approach, namely the REF-Sort technique. The proposed approach has many valuable contributions to the literature. First, it has an efficient basic algorithm and can be applied to solve highly complicated decision-making problems without requiring advanced mathematical knowledge. Besides, some characteristics differentiate REF-Sort apart from other techniques. REF-Sort employs the value or value range that reflects the most typical characteristic of the relevant class in assignment processes. The reference values in REF-Sort and center profiles are similar in this regard. On the other hand, class references can be defined as ranges in REF-Sort. Secondary values, called successors, can also be employed to assign a value to the appropriate class. REF-Sort can also determine the reference and successor values/ranges independently of the decision matrix. In addition, the proposed model is a maximally stable and consistent decision-making tool, as it is resistant to the rank reversal problem.

The current papers' findings indicate that countries have different features concerning investment. Hence, the current paper pointed out that only 22% of the 95 countries are investable, whereas 19% are risky. Thus, decision-makers should make detailed evaluations using robust, powerful, and practical decision-making tools to make more reasonable and logical decisions concerning country selection.

The current paper proposes a novel decision-making approach to evaluate. According to the authors' information, the proposed model has been applied to evaluate investable countries for the global supply chains for the first time.

The knowledge of goals of the successor, who is preparing to take over the business, is extremely important for the succession process and further operation of a family enterprise. The aim of this study is to structure the goals of Polish family enterprises’ successors and to develop a Synthetic Model of the goals of Polish family enterprises' successors with the application of grey clustering evaluation models.

Research into the specifics of the diagnosis and assessment of the goals set for the successors of the first succession in family businesses in Poland was carried out in the third quarter of 2016 at two stages using two research methods: in-depth group interview and individual interview. The main aim of the first stage was the extraction of subjectively identified goals by family enterprises' successors (based on their succession experience). The statements were open and obtained during two in-depth group interviews (2 FGI) with successors being in the process of succession at its various stages (total, n = 14). The respondents presented their experiences connected with the succession process along with emotions that are associated with it. In one of the interview stages, the respondents were asked to enumerate their individual goals they set for themselves in the context of upcoming changes. Next, the group agreed on the most frequently mentioned goals by creating their verbal interpretation. The obtained list of 20 goals was recorded and discussed, and thanks to the application of the elimination rule in the collective decision-making process, that list was reduced to 10 goals, which was approved by all participating successors.

The results show the developed Synthetic Model of the goals of family enterprises’ successors. The study singled out four groups of successors: (1) successors who do not work in the family enterprise yet, (2) successors holding lower-level positions, (3) successors holding managerial positions, (4) successors who manage the entire company. As a result of the calculations, the developed Synthetic Model of the goals of family enterprises' successors was positively verified for successors working in higher-level positions and successors managing the entire family enterprise.

In order to use the results of clustering, e.g. for conducting studies on large samples with the use of statistical tools, a reduced number of goals should be taken into account. A thorough study of three goals may bring results similar to the study of the original ten successors of Polish family enterprises in the process of succession. The aim of future research is to develop a mathematical model using optimization functions that enable selection of elements representing individual clusters in such a way that it leads to the extraction of the elements with the highest value in relation to the accepted criterion for assessing their value.

In the future, conducting family business research in accordance with the developed methodology requires a look at the proposed list of successor goals obtained during the Focus Group Interview (FGI) as it could be shortened using the Cluster of Grey Incidence method. Shortening the list of goals has its analytic and practical justifications. The study of the full list of goals in subsequent (and numerous further studies) could lead to errors related to, for example, different interpretation of goals among the investigated successors. Furthermore, the full list of goals would increase costs and extend research time.

This study aims to analyze how the presence of women is seen in family small and medium-sized enterprises’ (SMEs) succession process from the successors' perspective.

To do so, the multiple case study method (qualitative approach) was used: five Brazilian SMEs and three Portuguese SMEs, and the data-collecting techniques were the online interview and documentary analysis. Data analysis was through content analysis using NVivo software.

The empirical evidence obtained led to the conclusion that the natural succession process is predominant in the family SMEs studied here. Although succession planning is present in some firms, these plans are informal and not rigid as regards deadlines. Nor do they present stages and tasks that could be considered as a planned succession.

The study shows that successors do not see gender as a relevant criterion for the choice of successor. It is concluded that women's participation in family SME succession, even to a lesser extent, is still marked by gender inequality. So, this study provides directions to policymakers and researchers to focus on developmental programmes for the presence of women in family SMEs' succession process.

Although some successors consider that these firms' performance may be different due to gender characteristics, others emphasize that management is the same. Therefore, this study provides the futuristic direction to policymakers, researchers and educators for focusing on the enhancement of women entrepreneurs which plays a crucial role in the family SMEs' succession process. Therefore, a conceptual framework is proposed that explains the articulation of different categories to understand the gender perspective in family firms' succession.

Small family firms represent the predominant organizational form in Canada. They are perceived to be crucial to the development and growth of the Canadian economy. Despite this, scant attention is given to the study of human resource management practices in the specialist family business literature. A key human resource issue in family firms, which has been documented as a potential source of problems, is succession, selection and training. The objective of this research is to explore the qualities that are considered critical to an effective family business successor and discuss the crucial role that education and training could have in enhancing the qualities and skills of a successor. Results suggest that three factors are critical to an effective human resource strategy concerning the selection process of a successor. These include the successor's capacity to lead, his/her managerial skills and competencies, and the willingness and commitment of the successor to take over the family business and to assume a leadership role.

Successors' unwillingness to participate in the family business is known to impede intergenerational succession. However, little is known about why those considered eligible, do not choose to become the next chief executive officer (CEO). The authors investigate why some eligible successors withdraw from the succession process while others remain involved. The purpose of this paper is to build theory for which the authors made use of purposive sampling techniques that complied with certain criteria.

The authors use an inductive, exploratory multi-case study design and investigate six Australian food manufacturers.

This paper's analysis reveals that successors' decisions are driven by dimensions: pursued outcome and reciprocity. Eligible successors withdrawing from succession are concerned about personal financial sustainability and the business' growth potential; this is accompanied by negative exchanges with the incumbent.

The authors studied a limited number of organizations and these were mainly managed by owner/founders. In this type of organization, successors have been widely exposed to the business and its struggles from an early age. Differences can be present in businesses managed by later generations whose emotional investment, therefore, socio-emotional needs might be different from the cohort being investigated. Second, the authors' aim in carrying out this study was to build theory for which we made use of purposive sampling techniques that complied with certain criteria. Further studies aiming at generalizable results would shed light on the usefulness of the typology and whether other rules apply to the incumbent–successor relationship while ascertaining how the exchanges contribute to the successor's decision to remain or withdraw from the family business.

This study reveals the crucial nature of the incumbent in the succession process. Their role is not limited to how they interact with the successor but how deeply incumbents manage to understand and monitor the successor's motivations and concerns. Incumbents aiming at retaining eligible successors need to thoroughly understand successors' motivations for agreeing to become the next CEO.

This paper is one of the first to investigate successor withdrawal post training. The authors' methodology includes the responses of non-family senior managers to provide an objective view on the family dynamics.