10 Pages Posted: 28 Aug 2006
This article explores the characteristics of Lebanese family businesses using a sample of 114 firms and tests various propositions regarding the relationships between correlates of effective succession planning and longevity. Successful family businesses in Lebanon exhibit a variety of responses to the variables that are conducive to success. The findings indicate that older firms are more inclined to use a participatory decision-making process, as evidenced by more reliance on advisory boards. A significantly larger proportion of older firms relative to younger ones holds family meetings and has formal redemption and liquidity plans. Firms in our sample are characterized by liberal attitudes: more than 75% consider female ownership acceptable and more than two-thirds of the firms respond positively to potential female CEOs.
Suggested Citation: Suggested Citation
Fahed-Sreih, Josiane and Djoundourian, Salpie, Determinants of Longevity and Success in Lebanese Family Businesses: An Exploratory Study. Family Business Review, Vol. 19, No. 3, pp. 225-234, September 2006. Available at SSRN: https://ssrn.com/abstract=926624 or http://dx.doi.org/10.1111/j.1741-6248.2006.00071.x
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