Title
Prof. Dr.
Last Name
Zellweger
First name
Thomas
Email
thomas.zellweger@unisg.ch
ORCID
Phone
+41 71 224 71 00
Google Scholar
1 - 2 of 2
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PublicationIntergenerational Transfer of Family Firm Control: Discount Expectations of Potential SuccessorsBuilding on institutional theory and family sociology literature we explore the logics that underlie the formation of transaction price expectations related to the intergenerational transfer of corporate ownership in private family firms. By probing a sample of 3'487 students with family business background from 20 countries we show that next generation family members expect to receive a 56.58% discount in comparison to some nonfamily buyer (i.e. the family discount) when taking over the parent's firm. We also show that the logic underlying the formation of family discount expectations is characterized by parental altruism, filial reciprocity, filial decency and parental inducement. These norms embrace both the family and market logics and accommodate the duties and demands of children and parents in determining a fair transfer price. These findings are important for institutional theory as well as for family business and entrepreneurial exit literatures.
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PublicationIFERA Conference Proceedings 2013 : Ownership, Governance and Value in Family FirmsIFERA is pleased to present this rich compilation of research paper abstracts being presented during this year?s conference. The program content highlights the fact that the field of family business research continues to grow in a variety of ways ? in content, in quality, in diversity of thoughts, methods, and geographical origin and reach, as well as in rigor and relevance. This book of proceedings is an inspiring catalog of fresh ideas, emerging voices, as well as a map of the trajectory of our field that connects us to our past. It also fills me with a degree of optimism ? as long as we honestly and fearlessly pursue the questions that we are most passionate about, and subject our ideas to scrutiny and debate in a respectful manner, we will continue to develop rigorous and useful knowledge to help business families and family businesses all over the world.