Document Server@UHasselt >
Research >
Research publications >

Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/25693

Title: Ownership Succession Financing and Firm Growth: a Multiple Mediator Approach
Authors: Janssen, Ellen
Vandemaele, Sigrid
Voordeckers, Wim
Vancauteren, Mark
Issue Date: 2017
Citation: Proceedings of the Research in Entrepreneurship and Small Business conference, RENT XXXI,p. 1-12
Series/Report: RENT Conference Papers
Abstract: Drawing upon the (Behavioral) Agency Model, we build a conceptual model that provides detailed theoretical explanations regarding the effect of ownership succession financing on post-succession growth of private family firms. In particular, relationships among the succession financing choice (independent variable), post-succession growth (dependent variable), risk taking (mediating variable), payout (mediating variable) and corporate governance (moderating variable) are proposed. In contrast to management succession, ownership transfers involve the acquisition of a major shareholder stake and, therefore, the financing of this acquisition is a crucial element of ownership succession. We propose that financing choices inherent to intra-family ownership transfers may influence successor’s self-interested behavioral tendencies with respect to risk taking and the extraction of firm resources, which, in turn, may damage firm growth. This study will enhance family business researchers’ insights on successors’ risk attitudes and payout preferences and, ultimately, post-succession development paths of the family firm.
URI: http://hdl.handle.net/1942/25693
ISSN: 2219-5572
Category: C1
Type: Proceedings Paper
Appears in Collections: Research publications

Files in This Item:

Description SizeFormat
N/A678.63 kBAdobe PDF
Proof of peer review586.05 kBAdobe PDF

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.