Preparing the successor through familial support and legitimacy: a multilevel framework

Abstract

ABSTRACT This study investigates the interplay among parental support, familial legitimacy, and next-generation succession intentions in family businesses in different societal contexts. Building on attachment theory and insights from family business literature, the study underscores the influence of family at both the parental and societal levels in creating a nurturing environment that supports succession intentions. Using multilevel analyses, we show that a secure parental base of support empowers offspring to develop self-efficacy in participating in the family business (family business self-efficacy), which plays a central role in supporting succession intentions in family businesses. This relationship is strengthened by familial legitimacy – that is, how the societal values that surround family behaviours shape the relationships among parental support, self-efficacy in the family business, and succession intentions. The study provides a nuanced explanation for the family mechanisms and societal values that drive the succession intentions for family businesses’ next generations.