Succession, Professionalization and the Staying Power of 'Familiness': A Longitudinal Study of Management Buyouts of Family Firms
Frontiers of Entrepreneurship Research 2007
15 Pages Posted: 6 Dec 2007
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.
JEL Classification: M13
Suggested Citation: Suggested Citation