Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family Firms
Succession process is a significant matter that is vital to the sustainability of a family firm. Families are generous in involving the offspring(s) into the family business so as to fulfill inter-generational succession. In this paper, we concentrate on the issue on the results of the involvement o...
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doaj-6f0dcbab5ce74570836094192cacf2c22020-11-25T01:39:58ZengMDPI AGSustainability2071-10502019-08-011116444710.3390/su11164447su11164447Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family FirmsJin Chen0Chengyuan Wang1Qiong Wang2Biao Luo3School of Management, University of Science and Technology of China, Hefei 230026, ChinaSchool of Management, University of Science and Technology of China, Hefei 230026, ChinaSchool of Economics, Hefei University of Technology, Hefei 230601, ChinaSchool of Management, University of Science and Technology of China, Hefei 230026, ChinaSuccession process is a significant matter that is vital to the sustainability of a family firm. Families are generous in involving the offspring(s) into the family business so as to fulfill inter-generational succession. In this paper, we concentrate on the issue on the results of the involvement of multiple offsprings in family firms. By using data collected from China listed family firms between 2009 and 2015, we reveal that there exist contingency effects of the involvement of multiple offsprings on risk taking in different phrases. The involvement of new offspring(s) that leads the sibling rivalry to happen would increase risk taking of the family firm in a short-term. While for those family firms in which offsprings serve together as brothers in arms, risk taking is even lower than that of family firms with no more than one offspring. Our findings have managerial implications for dealing with succession process and maintaining sustainability of family businesses.https://www.mdpi.com/2071-1050/11/16/4447family firmsinvolvement of second-generationsibling rivalrybrothers in armsrisk takingfamily business sustainability |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Jin Chen Chengyuan Wang Qiong Wang Biao Luo |
spellingShingle |
Jin Chen Chengyuan Wang Qiong Wang Biao Luo Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family Firms Sustainability family firms involvement of second-generation sibling rivalry brothers in arms risk taking family business sustainability |
author_facet |
Jin Chen Chengyuan Wang Qiong Wang Biao Luo |
author_sort |
Jin Chen |
title |
Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family Firms |
title_short |
Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family Firms |
title_full |
Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family Firms |
title_fullStr |
Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family Firms |
title_full_unstemmed |
Sibling Rivalry vs. Brothers in Arms: The Contingency Effects of Involvement of Multiple Offsprings on Risk Taking in Family Firms |
title_sort |
sibling rivalry vs. brothers in arms: the contingency effects of involvement of multiple offsprings on risk taking in family firms |
publisher |
MDPI AG |
series |
Sustainability |
issn |
2071-1050 |
publishDate |
2019-08-01 |
description |
Succession process is a significant matter that is vital to the sustainability of a family firm. Families are generous in involving the offspring(s) into the family business so as to fulfill inter-generational succession. In this paper, we concentrate on the issue on the results of the involvement of multiple offsprings in family firms. By using data collected from China listed family firms between 2009 and 2015, we reveal that there exist contingency effects of the involvement of multiple offsprings on risk taking in different phrases. The involvement of new offspring(s) that leads the sibling rivalry to happen would increase risk taking of the family firm in a short-term. While for those family firms in which offsprings serve together as brothers in arms, risk taking is even lower than that of family firms with no more than one offspring. Our findings have managerial implications for dealing with succession process and maintaining sustainability of family businesses. |
topic |
family firms involvement of second-generation sibling rivalry brothers in arms risk taking family business sustainability |
url |
https://www.mdpi.com/2071-1050/11/16/4447 |
work_keys_str_mv |
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