Abstract
This study investigates what influences families’ commitment to continue a family business, or continuation commitment. We hypothesize that top executives’ cultural capital, family members’ satisfaction with the firms past performance and their aspirations regarding its future performance, as well as the level of family involvement in the family business represent key factors underlying continuation commitment. In addition, we suggest the interaction effects among the identified factors that affect a family’s commitment will be higher in the founder generation compared to successive generations of family owners. Analysis of a dataset of 2,168 family firms from a nationwide survey provided support for most hypotheses.
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