Factors affecting micro family business succession towards high growth performance: a case study of Thailand.

Abstract

In this study, we seek to identify factors that most related to micro family business achieving high post-transition performance and create valid and reliable measurement items for further empirical study. A conceptual framework was developed from the literature. The determinants of family business succession are successor related factors, relationship factors, and knowledge transmission. The study provides qualitative and quantitative assessment of the proposed framework using four case studies of family business succession and sixty six family business responses collected from two entrepreneurial business clubs in Thailand. From the case study, the results indicate support for the proposed framework. However, the ability to break the mold or innovation creation in family business was found as the most critical factor for micro family business in Thailand to achieve high post-transition performance. The measurement items are also developed for further empirical survey.

KEY WORDS: SUCCESSION PROCESS/MICRO FAMILY BUSINESS/SUCCESS FACTORS/HIGH POST-TRASITION PERFORMANCE