Abstract

JAIMES BOLIVAR, Grisly Damaris  and  ALBORNOZ-ARIAS, Neida. Factors that Affect the Succession Process of Family Businesses. Pensam. gest. [online]. 2021, n.50, pp.69-99.  Epub Mar 30, 2022. ISSN 1657-6276.  https://doi.org/10.14482/pege.50.658.041.

The life of Family Businesses is largely limited to the generational transition (on average 30% of these survive the second generation, 15% of these to a third, and 1% to the fourth). Objective: to analyze success and failure factors in successions from the literature. Method: to developed said analysis from a descriptive approach. The document review process completed the following stages: definition of the objective, bibliographic search, consultation of databases, establishment of search strategy and selection criteria, organization of information, and writing. Results and conclusions: the succession problem starts from the conflict of interests between the family business systems (company, family, and property), arising situations such as: informality, loose discipline, assumptions of permanence, nepotism, grasp, among others. Finally, a succession plan was developed considering the factors that influence the process.

Keywords : lifecycle; agency cost; family business; nepotism; succession.

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