Succession in family-owned SMEs: the impact of advisors

Bertschi-Michel, Alexandra; Sieger, Philipp; Kammerlander, Nadine (2019). Succession in family-owned SMEs: the impact of advisors. Small Business Economics, 56(4), pp. 1531-1551. Springer 10.1007/s11187-019-00266-2

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We theorize and empirically confirm the positive influence of an advisor’s tertius iungens behavior on individual- and firm-level succession-related factors. Furthermore, we explore the moderating influence of two central advisor characteristics, namely, their type and process involvement. We find that the relationship between an advisor’s tertius iungens behavior and an incumbent’s and a successor’s satisfaction with the advisor tends to be stronger when the advisor is of formal (versus informal) nature. Furthermore, the relationship between an advisor’s tertius iungens behavior and firm performance is stronger when the advisor is involved in the full succession process, compared to being only involved in parts of it. Our study thus contributes to the literature on advising and family-owned SME succession by introducing the tertius iungens concept as a crucial advisor behavior and by highlighting how important advisor characteristics support the satisfaction with the advisor and post-succession firm performance.

Item Type:

Journal Article (Original Article)

Division/Institute:

03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Organization and Human Resource Management > Human Resource Management
03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Innovation Management > Management

UniBE Contributor:

Bertschi, Alexandra and Sieger, Philipp

Subjects:

600 Technology > 650 Management & public relations

ISSN:

1573-0913

Publisher:

Springer

Language:

English

Submitter:

Philipp Sieger

Date Deposited:

12 Feb 2020 12:43

Last Modified:

02 May 2021 02:48

Publisher DOI:

10.1007/s11187-019-00266-2

Uncontrolled Keywords:

Succession, advisors, family firms, SME, performance

BORIS DOI:

10.7892/boris.139927

URI:

https://boris.unibe.ch/id/eprint/139927

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