How does a succession influence investment decisions, credit financing and business performance in small and medium-sized family firms?

Arndt, Werner; Schell, Sabrina; Haunschild, Ljuba (2021). How does a succession influence investment decisions, credit financing and business performance in small and medium-sized family firms? International entrepreneurship and management journal, 17(1), pp. 423-446. Springer 10.1007/s11365-019-00613-5

[img] Text
Werner2021_Article_HowDoesASuccessionInfluenceInv.pdf - Published Version
Restricted to registered users only
Available under License Publisher holds Copyright.

Download (498kB) | Request a copy

We examine the influence of succession in small and medium-sized family businesses by focusing on investment decisions, credit financing, and business performance. Using data on German SMEs, we find that the succession event affects investment behavior negatively before but positively after the transfer takes place when compared to firms without any succession intentions. With respect to performance, we show that firms’ growth rates increase after succession has taken place. Although hypothesized, we find no empirical evidence to suggest that banks tend to reject successors more often than they reject other business owners when deciding to extend credit to firms for investment purposes.

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

UniBE Contributor:

Schell, Sabrina

Subjects:

600 Technology > 650 Management & public relations
300 Social sciences, sociology & anthropology > 330 Economics

ISSN:

1555-1938

Publisher:

Springer

Language:

English

Submitter:

Dr. Sabrina Schell

Date Deposited:

22 Mar 2021 15:25

Last Modified:

22 Mar 2021 15:30

Publisher DOI:

10.1007/s11365-019-00613-5

BORIS DOI:

10.48350/154191

URI:

https://boris.unibe.ch/id/eprint/154191

Actions (login required)

Edit item Edit item
Provide Feedback