Skip to main content

First-, Second-, and Third-Generation Family Firms: A Comparison

Buy Article:

$43.00 + tax (Refund Policy)

There has been limited prior research into generational differences among family businesses. This study compared first-, second-, and third-generation family firms. Contrary to much of the current literature, only two significant differences were found when testing 11 hypotheses. As hypothesized, first-generation family businesses do less succession planning than second- and third-generation family firms, and there are no differences between first-, second-, and third- generation firms with regard to the influence of the firm's founder. Also, first-generation firms had the highest use of equity versus debt financing. Although not tested as a hypothesis, demographic analysis indicated fewer first-generation firms using the corporation form of ownership. Analysis of covariance indicated no spurious relationships existing in the hypotheses.
No References
No Citations
No Supplementary Data
No Article Media
No Metrics

Document Type: Research Article

Affiliations: 1: Department of Management, General Business and Entrepreneurship, Weller Hall, Hofstra University 2: Department of Management, Springfield College

Publication date: 01 September 2004

  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
X
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more