Predictors of Satisfaction with the Succession Process in Family Firms
Bibliographic record
Abstract
Sharma et al. (2001) developed a model of satisfaction with the succession process in family firms by applying the stakeholder theory. This model suggests that satisfaction from the succession process is enhanced by factors such as the incumbent's willingness to step aside, the successor's willingness to takeover, consent among family members to maintain their involvement in the business, acceptance of individual roles and succession planning. The validity of this model was tested on a convenience sample of 604 member firms of the Canadian Association of Family Enterprise. Questionnaires were mailed out to both incumbents and successors within a firm.Usable responses were received from 177 firms among which responses for both incumbent and successors were received for only 76 firms. Separate ordinary least squares regression models for both the incumbents and the stakeholders were estimated. Results suggest that incumbents' satisfaction with the succession process is positively correlated to successors' willingness to take over family members' acceptance of their individual roles in the business and the extent of succession planning. Incumbents did not believe that their own propensity to step aside is a significant determinant of their satisfaction or that family member's agreement to maintain family involvement is a factor. Acceptance of individual roles in the business improved the satisfaction with the succession process for both the incumbents and the successors. Both the incumbents and the successors differed in terms of whose attitude is important in determining their satisfaction.The research method used in this study also emphasizes the importance of considering multiple stakeholder groups conducting family firm research.(VRS)
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.001 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.002 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".