Fusing contingency theory and upper echelon theory - for a new perspective on the critical juncture of family firm succession

Istipliler, Baris ; Ahrens, Jan-Philipp ; Hauer, Annegret ; Steininger, Dennis M. ; Woywode, Michael

Document Type: Conference presentation
Year of publication: 2022
Conference title: IECER 2022, Interdisciplinary European Conference on Entrepreneurship Research, 20th Annual Conference
Location of the conference venue: Maastricht, The Netherlands
Date of the conference: 26-28.10.2022
Related URLs:
Publication language: English
Institution: Außerfakultäre Einrichtungen > Institut für Mittelstandsforschung (ifm)
Business School > Mittelstandsforschung u. Entrepreneurship (Woywode 2007-)
Subject: 330 Economics
Individual keywords (German): Nachfolge
Keywords (English): succession
Abstract: Drawing on contingency and upper echelon theories, this study conceptualizes family firm CEO succession as a special window of opportunity for the new generation to reinvent and rejuvenate the firm and restore the environment-organization fit that had often deteriorated pre-succession. We argue that CEO-related human capital enables successors to identify and amend misfits, allowing them to re-chart an organization’s course to enhanced performance, especially when the misfit is marked by a turnaround situation. Based on a quantitative analysis of 804 German firms and 31 qualitative interviews, we find support for these coherences and contribute to contingency and upper echelon theories.

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