What is it about?
An interpretative phenomenological analysis (IPA) was adopted for detailed structural analysis of in-depth interview as it aims to explore meaning of participants' experiences. A total of ten individuals participated in the study. Seventeen superordinate themes emerged from participants' personal statements and experiences. The themes are grouped into four aspects: namely, characteristics of predecessor and successor, succession process, firm and family and succession output. These aspects were found to be different between X and millennial cohort successors. They then form an empirical model of intra-family succession from both perspectives.
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Why is it important?
This study enriches the theory of family firm by considering generational effect of successors on intra-family succession. As millennial cohort successors prefer to go directly into business (experiential learning) and are driven by non-material motives (passion-driven), predecessors are expected to utilize them in the process of nurturing and development.
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This page is a summary of: Intra-family succession insights: the presence of millennial cohort successors, Journal of Family Business Management, May 2020, Emerald,
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