Stakeholder Support in Family Businesses

The Influence of Successor Legitimacy on Stakeholder Decisions
1. Auflage 2014
ISBN: 978-3-8441-0371-7
Verlag: Josef Eul Verlag GmbH

Buch, Englisch, Band 8, 204 Seiten, PB, Format (B × H): 148 mm x 210 mm, Gewicht: 331 g

Reihe: Familiy Business

Many family businesses fail during succession and sometimes they do because the successor is not granted the legitimacy by primary stakeholders of the company. But what does it take to be a legitimate successor in the eyes of these audiences? Are there different dimensions of legitimacy? And if so, do different stakeholder groups value the different dimensions of legitimacy differently?

This book expands our knowledge of the origin and impact of a successor’s legitimacy in family owned businesses after succession. By analyzing a successor’s legitimacy on five dimensions, this work detects whether primary stakeholder groups’ decisions, to continuously provide their resources to family businesses after succession, depend on their perceived legitimacy of the successor and differ depending on the group the stakeholder belongs to. This book helps to understand why some successors are more successful than others in reassuring important resources to the company. Moreover, it helps successor candidates to identify which information they should signal toward a particular stakeholder group and how much weight should be attached to different claims and expectations.

The findings of this book are based on an innovative paper-based policy-capturing analysis with family members, employees of family businesses and bankers. The participants of the experiment assessed more than 3,400 decisions to allocate further resources to the family business after succession depending on their legitimacy judgment.

Autoren/Hrsg.

Rettenmeier, Veronika Stefanie

Inhaltsverzeichnis

1. Introduction

2. What does it take to be a good successor? Successor legitimacy in family businesses
2.1 Introduction
2.2 Theoretical background
2.3 Multiple types of successor legitimacy
2.4 Consequences of successor legitimacy
2.5 Discussion and conclusion

3. Measuring individual legitimacy on five dimensions: The case of successor legitimacy in family businesses
3.1 Introduction
3.2 Prior research on legitimacy
3.3 Theoretical background
3.4 Hypotheses
3.5 Methods
3.6 General discussion

4. An institutional theory perspective on successor legitimacy: Different views on the same
4.1 Introduction
4.2 Theoretical background
4.3 Hypotheses
4.4 Methods
4.5 Results
4.6 Discussion

5. Conclusion

Über Autor(innen)

Veronika Stefanie Rettenmeier studied business administration at the University of Mannheim, Germany, where she earned her ‘Diplom-Kauffrau’ degree. During her studies she spent one semester abroad at the Bocconi University in Milano, Italy. She received her doctor’s degree [Dr. rer. pol.] from the Chair of Family Businesses, Prof. Dr. Sabine Rau, at WHU – Otto Beisheim School of Management, Germany. Her academic area of interest is succession in family businesses.