The Dynamics of Succession in Family Businesses in Western European Countries

Authors

  • Herbert Neubauer

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    • Herbert Neubauer is an associate professor in the Department of Small Business Management at Vienna University of Economics and Business Administration, Vienna, Austria.


Abstract

Family businesses represent a major economic factor in -western economies. This paper illustrates the significance of and problems involved with succession in family businesses on the basis of empirical data on Austria and Germany. The paper presents a number of ideas on the systems of the family and the business from both interdisciplinary and dynamic perspectives and sheds light on generation changes in detail. Finally, a number of recommendations are made for future dynamic/systemic research on succession.

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