Tracking family businesses and their owners over time: panel attrition,manager departure and business demise |
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| Institution: | 1. Department of Entrepreneurship, College of Business Administration, Central Michigan University, Mt. Pleasant, MI 48859, United States;2. Department of Management, Information Systems, and Entrepreneurship, Carson College of Business, Washington State University, Pullman, WA 99164, United States;3. School of Business and College of Entrepreneurship, University of the Thai Chamber of Commerce, Din Daeng Bangkok, 10400, Thailand;1. Narendra Paul Loomba Department of Management, Zicklin School of Business, Baruch College, City University of New York, 55 Lexington Avenue, New York, NY 10010, United States of America;2. Department of Management and Entrepreneurship, Frank G. Zarb School of Business, Hofstra University, Hempstead, NY 11549-1000, United States of America;1. Florida Atlantic University, College of Business, 777 Glades Road, KH 145, Boca Raton, FL 33431, United States of America;2. Baylor University, Hankamer School of Business, One Bear Place #98011, Waco, TX 76798, United States of America;1. George Washington School of Medicine and Health Sciences, Washington, DC;2. Office of Clinical Practice Innovation, 2100 Pennsylvania, Washington, DC 20037 |
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| Abstract: | Analyses of business owners from whom data were gathered in 1997 and 2000 are used to predict two family business phenomena: the continued involvement by the owner-manager in the business and the continuation of the business. The most important factor in continuity is the respondent's assessment of the business as a success; successful businesses continue or are sold or gifted when the owner-manager leaves the business. Ceasing to be involved in a business should not be viewed as a business or a managerial failure. Some changes may be failures, but others should be viewed as ordinary business or family developments. |
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