Heroes of the Green Room–How able successors revitalize and reinvent family firms

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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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APA

Istipliler, B., Ahrens, J. P., Hauer, A., Steininger, D., & Woywode, M. (2024). Heroes of the Green Room–How able successors revitalize and reinvent family firms. Journal of Small Business Management, 62(3), 1604–1651. https://doi.org/10.1080/00472778.2022.2161554

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