Kimberly A. Eddleston is the Patrick F. and Helen C. Walsh Research Professor and the Daniel and Dorothy Grady Research Fellow at the D'Amore-McKim School of Business, Northeastern University, 219 Hayden Hall, Boston, MA 02115-5000, USA.
Planning for Growth: Life Stage Differences in Family Firms
Article first published online: 16 JAN 2013
© 2013 Baylor University
Entrepreneurship Theory and Practice
Volume 37, Issue 5, pages 1177–1202, September 2013
How to Cite
Eddleston, K. A., Kellermanns, F. W., Floyd, S. W., Crittenden, V. L. and Crittenden, W. F. (2013), Planning for Growth: Life Stage Differences in Family Firms. Entrepreneurship Theory and Practice, 37: 1177–1202. doi: 10.1111/etap.12002
We would like to thank Jim Chrisman and the participants at the Theories of Family Enterprise 2009 Conference for their suggestions on an earlier version of this manuscript.
- Issue published online: 10 SEP 2013
- Article first published online: 16 JAN 2013
Applying insights from the generational perspective, this study explores when strategic planning and succession planning are most conducive to privately held family firm growth. The results show that the degree to which strategic planning and succession planning are associated with family firm growth depends on the generation managing the firm. Both forms of planning are most conducive to the growth of first-generation firms; however, neither form of planning confers much growth for second-generation firms. For third-and-beyond-generation firms, the benefits of succession planning appear to reemerge. However, strategic planning is negatively associated with their level of growth.