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Library/Succession, ownership transfer and family business

B14FT50

To merge, sell, or liquidate?

Chirico, F., Gómez-Mejia, L. R., Hellerstedt, K., Withers, M., & Nordqvist, M. (2020)

Socioemotional wealth, family control, and the choice of business exit. Journal of Management, 46(8), 1342-1379

Longitudinal matched sample of privately held firms. Family firms are less likely to exit and tolerate more distress; when exit is unavoidable they prefer merger (preserves some socioemotional wealth) while non-family firms prefer sale or dissolution.

Sourcedoi:10.1177/0149206318818723210 citations (OpenAlex)

Full citation

Chirico, F., Gómez-Mejia, L. R., Hellerstedt, K., Withers, M., & Nordqvist, M. (2020). To merge, sell, or liquidate? Socioemotional wealth, family control, and the choice of business exit. Journal of Management, 46(8), 1342-1379.

https://doi.org/10.1177/0149206318818723

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