Family Business Succession and Its Impact on Financial Structure and Performance

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Financing Decisions in Family Businesses: A Review and Suggestions for Developing the Field (2017, background): “Findings indicate that family generation negatively affects debt financing (Molly et al., 2010; Molly et al., 2012), while BlancoMazagatos et al.”
How to Pay Nonfamily Managers in Large Family Firms: A Principal—Agent Model (2011, unknown): “Implementing the contract can be even more difficult, which is why it can be advantageous to choose a family successor even if the family candidate is less qualified than a nonfamily executive (Bennedsen et al., 2007; Molly et al., 2010).”
Family Firm Heterogeneity: A Definition, Common Themes, Scholarly Progress, and Directions Forward (2021, background): “Nevertheless, growth in family firms tends to decline when transitioning to the second generation (Molly et al., 2010).”
Empirics in Family Business Research (2016, background): “Moreover, longitudinal designs can “more accurately identify the pure succession outcomes in a company” (Molly et al., 2010, p. 139).”
Implications of Intra-Family and External Ownership Transfer of Family Firms: Short-Term and Long-Term Performance Differences (2011, background): “First, while management succession and their implications for a business have received scholarly attention for many years (DeMassis et al., 2008; Molly et al., 2010), ownership transfers have not.”