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Succession, Professionalization and the Staying Power of 'Familiness': A Longitudinal Study of Management Buyouts of Family Firms

Babson College Entrepreneurship Research Conference (BCERC) 2007

Frontiers of Entrepreneurship Research 2007

15 Pages Posted: 6 Dec 2007  

Mike Wright

Nottingham University Business School

Carole Howorth

University of Bradford School of Management

Paul Westhead

Durham University

Abstract

This study is a longitudinal analysis of eight UK family businesses that underwent an MBO/I in 1998. It examines whether the MBO/I triggers professionalization of the business, the continuance of a family ethos and their influences on performance. Analysis is of interview, survey and financial data collected from multiple respondents at three points in time up to 2006. We find that succession through MBO/I can enable the family firm to maintain its independent ownership and sustain the notion of "familiness" over time, albeit in a metamorphosed state.

Keywords: Entrepreneurship

JEL Classification: M13

Suggested Citation

Wright, Mike and Howorth, Carole and Westhead, Paul, Succession, Professionalization and the Staying Power of 'Familiness': A Longitudinal Study of Management Buyouts of Family Firms. Babson College Entrepreneurship Research Conference (BCERC) 2007; Frontiers of Entrepreneurship Research 2007. Available at SSRN: https://ssrn.com/abstract=1064341

Mike Wright

Nottingham University Business School ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom
+44 115 951 5257 (Phone)
+44 115 951 5204 (Fax)

Carole Howorth (Contact Author)

University of Bradford School of Management ( email )

Emm Lane
Bradford, West Yorkshire Bd9 4JL
United Kingdom

Paul Westhead

Durham University ( email )

Old Elvet
Mill Hill Lane
Durham, Durham DH1 3HP
United Kingdom

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