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Family Cohesion as a Longevity Factor of Business with Intergenerational Transmission

Published online by Cambridge University Press:  02 July 2015

FCO. Javier Fernández-Roca
Affiliation:
Universidad Pablo de Olavide, Dpto. Economía, Met. Cuant. e Historia Económica, Carretera de Utrera km. 1, 41013 Sevilla, Spain. E-mail: [email protected]
Jesús D. López-Manjón
Affiliation:
Universidad Pablo de Olavide, Dpto. Economía Financiera y Contabilidad, Carretera de Utrera km. 1, 41013 Sevilla, Spain. E-mail: [email protected]
Fernando Gutiérrez-Hidalgo
Affiliation:
Universidad Pablo de Olavide, Dpto. Economía Financiera y Contabilidad, Carretera de Utrera km. 1, 41013 Sevilla, Spain. E-mail: [email protected]

Abstract

This article contributes to a line of research in Business History that aims to determine the factors of family business longevity in the long term with the study of individual cases. The literature has identified family cohesion as one of the essential factors for survival. Cohesion may be reinforced or broken at the time of the intergenerational transfer. This study finds that a critical response on the part of the business family to the difficulties associated with intergenerational transfer of control, including modifications to the original plan, is usually based on trust between generations. Within the business family cohesion facilitates intergenerational transfers and, consequently, allows the family to evolve and transform itself into a business dynasty.

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© The Author 2014. Published by Oxford University Press on behalf of the Business History Conference. All rights reserved. For permissions, please e-mail: [email protected]

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