Zellweger, Thomas; Ganter, Melanie; Sieger, Philipp (August 2013). Intergenerational Transfer of Family Firm Control: Discount Expectations of Potential Successors (Unpublished). In: 73rd Annual Academy of Management Meeting. Lake Buena Vista (USA). August, 2013.
Full text not available from this repository.Building on institutional theory and family sociology literature we explore the logics that underlie the formation of transaction price expectations related to the intergenerational transfer of corporate ownership in private family firms. By probing a sample of 3'487 students with family business background from 20 countries we show that next generation family members expect to receive a 56.58% discount in comparison to some nonfamily buyer (i.e. the family discount) when taking over the parent's firm. We also show that the logic underlying the formation of family discount expectations is characterized by parental altruism, filial reciprocity, filial decency and parental inducement. These norms embrace both the family and market logics and accommodate the duties and demands of children and parents in determining a fair transfer price. These findings are important for institutional theory as well as for family business and entrepreneurial exit literatures.
Item Type: |
Conference or Workshop Item (Paper) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Innovation Management > Management |
UniBE Contributor: |
Sieger, Philipp |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics 600 Technology > 650 Management & public relations |
Language: |
English |
Submitter: |
Philipp Sieger |
Date Deposited: |
27 Jul 2016 16:59 |
Last Modified: |
05 Dec 2022 14:57 |
URI: |
https://boris.unibe.ch/id/eprint/84229 |
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