833: Navigating Succession: Unveiling Predecessor Preferences for Successor Attributes in Family Firms (18259)

This study investigates the impact of various desired attributes of succession candidates on family firm incumbent’s succession intention for candidate nomination. Examining personal, relational, and processual configurations of succession candidates, we draw on survey responses from 714 family firm owner-managers. Our findings reveal that a candidate’s commitment, moral character, and conformity with the incumbent’s procedural visions of the succession process significantly increase the likelihood of being nominated as a successor. Our results additionally indicate that the presence of either a family or non-family candidate could amplify the impact of particular successor attributes on the incumbent’s succession preferences. Notably, the presence of family candidates emphasizes the importance of a high-quality moral character, while the effect of high procedural conformity is accentuated when considering only non-family successors. This research contributes to the understanding of incumbents’ decision-making in successor selection, shedding light on how individual attributes of successors shape nomination intentions. The study concludes by suggesting potential avenues for future research in this domain.

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