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Working Paper No. 172. Implications of Intra-Family and External Ownership Transfer Of Family Firms

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Familjeföretag, Företagandets villkor, Johan Wiklund, Karin Hellerstedt, Karl Wennberg, Mattias Nordqvist, Performance, Succession
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Abstract

We contrast the performance consequences of intra-family vs. external ownership transfers. Investigating a sample of all private family firms in Sweden that went through ownership transfers during ten years, we find family firms transferred to external owners outperforming those transferred within the family, but that survival is higher among intra-family transfers. We attribute these performance differences to the long-term orientation of family firms passed on to the next generation and to the entrepreneurial willingness of acquirers to bear uncertainty. Based on distinct ownership transition routes and theoretical mechanisms explaining performance differences, we outline implications for family business and entrepreneurship research.

Related content: Implications of Intra-family and External Ownership Transfer of Family Firms

Wennberg, K., Wiklund, J., Hellerstedt, K. & Nordqvist, M. (2011). Implications of Intra-Family and External Ownership Transfer Of Family Firms: Short Term and Long Term Performance. Ratio Working Paper No. 172.

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Working Paper No. 172. Implications of Intra-Family and External Ownership Transfer Of Family Firms
Working paperPublication
Wennberg, K., Wiklund, J., Hellerstedt, K. & Nordqvist, M.
Publication year

2011

Abstract

We contrast the performance consequences of intra-family vs. external ownership transfers. Investigating a sample of all private family firms in Sweden that went through ownership transfers during ten years, we find family firms transferred to external owners outperforming those transferred within the family, but that survival is higher among intra-family transfers. We attribute these performance differences to the long-term orientation of family firms passed on to the next generation and to the entrepreneurial willingness of acquirers to bear uncertainty. Based on distinct ownership transition routes and theoretical mechanisms explaining performance differences, we outline implications for family business and entrepreneurship research.

Related content: Implications of Intra-family and External Ownership Transfer of Family Firms

Working Paper No. 172. Implications of Intra-Family and External Ownership Transfer Of Family Firms
Working paperPublication
Wennberg, K., Wiklund, J., Hellerstedt, K. & Nordqvist, M.
Publication year

2011

Abstract

We contrast the performance consequences of intra-family vs. external ownership transfers. Investigating a sample of all private family firms in Sweden that went through ownership transfers during ten years, we find family firms transferred to external owners outperforming those transferred within the family, but that survival is higher among intra-family transfers. We attribute these performance differences to the long-term orientation of family firms passed on to the next generation and to the entrepreneurial willingness of acquirers to bear uncertainty. Based on distinct ownership transition routes and theoretical mechanisms explaining performance differences, we outline implications for family business and entrepreneurship research.

Related content: Implications of Intra-family and External Ownership Transfer of Family Firms

Ratio Working Paper No. 349: Industrial conflict in essential services in a new era – Swedish rules in a comparative perspective
Working paperPublication
Karlson, N.
Publication year

2021

Published in

Ratio Working Paper

Abstract

This paper examines whether the Swedish regulatory system of dealing with industrial conflicts that affect essential services need an update or reform. Are the existing rules effective in a world where many essential services are upheld by many interdependent agents in complex systems where every single node becomes critical for the functioning of the system, and where the essential service activities could be either private or public? A comparative study is conducted with the corresponding regulatory systems of the United Kingdom, Germany, and Denmark.
The conclusion is that Sweden is a special case. The Swedish protection against and readiness in dealing with societally harmful industrial conflicts in essential services is weaker than in the countries of comparison. Just as in relation to other threats to essential services, it is not sustainable to claim that just because such a threat is not currently present, there would be no need for preparedness.
There are many alternative ways to handle this. Desirable methods should both prevent harmful conflicts from erupting and end conflicts that have grown harmful to society at a later stage. The labour market organisations should have a mutual interest in reforming the rules.

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