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Library/Succession, ownership transfer and family business

B1FT50

Implications of intra-family and external ownership transfer of family firms: short-term and long-term performance differences

Wennberg, K., Wiklund, J., Hellerstedt, K., & Nordqvist, M. (2011)

Strategic Entrepreneurship Journal, 5(4), 352-372

All private family firms in Sweden that underwent ownership transfer over a 10-year window. Firms transferred to external owners outperform those transferred within the family, but survival is higher for intra-family transfers. The authors attribute this to long-term orientation of heirs versus "the entrepreneurial willingness of acquirers to bear uncertainty".

Sourcedoi:10.1002/sej.118176 citations (OpenAlex)

Full citation

Wennberg, K., Wiklund, J., Hellerstedt, K., & Nordqvist, M. (2011). Implications of intra-family and external ownership transfer of family firms: short-term and long-term performance differences. Strategic Entrepreneurship Journal, 5(4), 352-372.

https://doi.org/10.1002/sej.118

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