The impact of market and industry risk on family succession

Yeh, Yi‐Shiung; Liao, Chen Chieh

doi:10.1016/j.najef.2019.101021

Cited by 4 publications

(2 citation statements)

References 33 publications

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“…Due to the South Korean government's self-employment lending support policies, the total amount of self-employed loans has increased annually since 2012 [5]. However, research by Yeh and Liao [8] found that family businesses tend to exhibit a higher level of risk compared to businesses started without personal family-based financing. Moreover, small businesses' limited access to collateral, brief credit histories, and lack of expertise in preparing financial statements may make it difficult to obtain credit.…”

Section: Introductionmentioning

confidence: 99%

Influences of Start-Up’s Financial Intermingling on Entrepreneurial Stress in Sustainable Family Businesses: Mediation Effect of Work–Family Balance

Choi,

Kessler

2023

Sustainability

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One factor affecting entrepreneurial success at the small-business start-up level is the impact on family life. This study examines the effects of intermingling financial resources on the quality of life of families operating businesses in South Korea. Based on the Global Entrepreneurship Monitor 2022 assessment, which ranks South Korea 9th out of 51 economies, South Korea emerges as a promising area for scholarly research in this area. The analysis results are as follows: First, when financial intermingling occurs (when family and business finances are merged to some degree), entrepreneurial stress was found to be higher. Second, financial intermingling between family funds and business finances increased entrepreneurial stress by impairing the work–family balance. Third, when one spouse is more dedicated to supporting start-ups, entrepreneurial stress caused by the pressure to use family funds as business finances is greater. As small-business start-ups often require creative means to generate primary financing, resource exchanges between families and businesses may sometimes be a regrettable necessity. However, if the potential downsides of resource exchange are ignored, and resource exchange frequently occurs over a long period of time, it can place significant stress on all parties and may adversely affect the sustainability of a family business.

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Section: Introductionmentioning

confidence: 99%

Influences of Start-Up’s Financial Intermingling on Entrepreneurial Stress in Sustainable Family Businesses: Mediation Effect of Work–Family Balance

Choi,

Kessler

2023

Sustainability

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show abstract

“…Risk assessment is challenging in family businesses because it lacks the ability to set priorities, procedures and controls for risk assessment (Visser and Scheers 2018). According to research, family businesses have a greater risk aversion than non-family businesses (Naldi et al 2007;Yeh and Liao 2019).…”

Section: Introductionmentioning

confidence: 99%

Succession as a Risk Process in the Survival of a Family Business—Case of Slovakia

Rumanko

Lušňáková

Moravanská

et al. 2021

JRFM

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Generational transfer is a risky point in the life cycle of any family business, and thus the succession process should not be underestimated. Family businesses in Slovakia began to appear after 1989, and therefore many of them await the process of generational exchange in the coming years. For this reason, research on generational exchange has been limited. The aim of this paper was to evaluate the attitude of the owners of Slovak family businesses to the succession process and to reveal the key factors that positively or negatively affect this process. A semi-structured interview was selected as a tool for data collection, in which 74 family business owners took part. The findings were evaluated by the text mining method and afterwards transferred to a scatter diagram in concepts. Based on the clusters in the scatter plot, we revealed the key factors that the current owners consider to be a risk in successfully managing generational exchange. We found that only 48.64% of owners started the succession process, which proves the importance of solving the problem in Slovakia.

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China's ETS pilots: Program design, industry risk, and long-term investment

Yan

2022

Advances in Climate Change Research

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The impact of market and industry risk on family succession

Cited by 4 publications

References 33 publications

Influences of Start-Up’s Financial Intermingling on Entrepreneurial Stress in Sustainable Family Businesses: Mediation Effect of Work–Family Balance

Influences of Start-Up’s Financial Intermingling on Entrepreneurial Stress in Sustainable Family Businesses: Mediation Effect of Work–Family Balance

Succession as a Risk Process in the Survival of a Family Business—Case of Slovakia

China's ETS pilots: Program design, industry risk, and long-term investment

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